It’s really, really easy to become convinced to purchase an extended warranty when you purchase a vehicle, especially if you’re purchasing a used or preowned vehicle that may not have any warranty left or may only have a little bit of their manufacturer’s warranty available to take advantage of.
And while some people are under the impression that the extended car warranty available from the dealer is nothing more than an extra pocket of profit for these unsavory sharks (which sometimes turns out to be the case, by the way), if you are smart and savvy about the way you go about getting an extended car warranty – and if you understand what you need to do and what you don’t need to do with these warranties – you can get quality protection at affordable prices.
Right out of the gate, you’re going to need to figure out whether or not an extended car warranty is worth any amount of money. If you’re purchasing a reliable vehicle with low miles and not a lot of abuse, wear, or tear (especially one that is relatively inexpensive to maintain repair on your), the odds are pretty good that you don’t need to go with an extended warranty.
If, on the other hand, you’re talking about a vehicle that has a higher level of miles, a little bit of extra road damage, and maybe an ownership history that you aren’t completely sure of war that you can’t verify independently, and extended warranty might just save your bacon.
Once you figure out whether or not you should be getting your hands on an extended car warranty it’s time to figure out what to do with one and what you don’t want to do with one.
This is what you want to DO with extended car warranties
The first thing that you need to DO when it comes to extended car warranties is verify that you are purchasing the warranty from the car salesman or dealership that you are actually purchasing the vehicle from. Third-party extended car warranties can be nightmares, and will cause you a lifetime of hassle and headache.
Secondly, you want to be sure that you pay attention to ALL of the fine print on that extended car warranty before you sign on the down the line. You’ll want to be sure that you are getting the complete and comprehensive coverage you are promised, and not just a bill of goods.
This is what you DON’T want to do with extended car warranties
The last thing you want to do when you’re purchasing an extended car warranty is to just take the dealer at their word. Read every single line on that contract thoroughly, take it home with you and have it looked over by someone you can trust, and generally do everything you can to verify that you are getting all that you are promised without any tricks or weasel language in the contract that might come back to bite you.
Secondly, you want to be sure that you aren’t ever pressured into purchasing extended car warranties that aren’t going to be able to help you in the first place. Don’t be shy about hitting the possible completely, taking the deal home before you sign on the dotted line, or even telling the dealer that you are no longer interested just to get them to backup and give you some space.