You feel like you’re just getting started when you buy a brand new car. You begin to see all the hidden expenses: maintenance, insurance and repairs. You suddenly have new ears and eyes. Yeah, extended auto warranties. They’re everywhere. But are they worth the money, or is it just another scam to steal your hard earned cash? Click to learn.
Who hasn’t been told that an extended guarantee is “peace” of mind? Peace of mind costs how much these days? I’d say quite a few things! Those who bite the bullet worry about the value of the dollar or whether it is just a piece fluff.
This is a valid point. It’s true that cars are finicky. It may not be as fussy as Aunt Sue’s cats, but it is close. Even the fanciest of wheels may suddenly fail. You can protect your ride with extended warranties.
Different strokes for different folks. Some swear by these, while others dismiss them as if they were last year’s fashion. Jim is one of my neighbors. He got an extended guarantee for his used vehicle. He had transmission problems for two years. Then, the air conditioner broke. The warranty was worth thousands. He would’ve been in a tough financial situation without the warranty.
Remember Nancy from your book club? She spent a fortune on an extended warranty for her new sedan. In three years there have been no problems. Nada. Zip. She was angry, thinking she had handed over her money to an modern-day snake-oil salesman.
You have a lot of stories to choose from, but how do you decide which one is the best? Start by reading real user reviews. You should not believe the sweet-sounding testimonials of marketers. Reddit forums such as auto blogs, customer complaint boards, and Reddit forum can give you a better understanding of the truth.
Understanding the details is next. Some warranties include almost everything other than your morning coffee. Others only cover the engine transmission and driveline. Each has their own peculiarities. Another doesn’t cover it. Some companies cater to cars with high mileage, while other are less interested. You need to determine what is best for your situation.
Be wary of high-pressure selling tactics. When you’re at an auto dealership, have you ever felt like a shark in a tank? You’ll hear “limited time offer,” and “once in a life-time deal” all the way through. You are expected to decide immediately. Don’t. Comparing offers from different providers is a better alternative.
Talking about third-party suppliers, they are all over the place. Some are real lifesavers and others are clever rascals. You’re best to do some research. Online reviews may be very eye-opening. You should look out for any terms and condition that might make it harder to do your job than you need.
You can get a penny to share your opinion. Why not talk to family members and friends? Real-world experience from trusted sources could save you from an unwanted lemon. Do not ignore the professional opinion. Many mechanics are able to tell which warranty companies will be generous and which will not.
Certain brands can be more reliable than others. Toyota, as an example. Their reliability ratings are excellent. A longer warranty is not likely to add value. Comparatively, certain European brands have repair costs that can make you cry. It’s here that warranties are most valuable.
Oh, and please read the fine prints. Every. Single. Word. Although it’s tedious to do, you may save yourself from unpleasant surprises later on. It’s important to know that coverage can have exclusions.
It’s time to stop babbling on about extended car warranties. Bottom line, consider your options, research your choices, and trust yourself. It could end up being a lifesaver, or it could be a money-sucker.
What do you think? Was this money well spent, or was it another expense that we had to pay for? Who knows? Until you’re knee deep in car trouble. In either case, keep the conversation moving and remain savvy.