We all dread driving down the highway, engine humming and tunes a buzzing, when there’s that dreaded sound of something going tragically wrong. Maybe it is a loud thud and the steering wheel violently shakes. Or there is the sound of metal on metal and the engine loses power and sputters to a halt.
These could be expensive and monumental repairs that may make you question sending your kid to a publicly funded state university.
To mitigate those fears, costs and your child’s future resentment, purchase a vehicle service contract for your used car. It’s a smart buy.
Buying a used car is like gambling. The odds are rarely stacked in your favor and even though you think you may be winning, you’re really losing. No matter how well documented the car’s history is, or how well it was maintained, gremlins big and small can creep up and snatch money right out of your wallet.
Unlike buying a new car with manufacturers’ extended warranty at that time, protection on a used car will come from one of two places: the dealership or third-party provider. A dealership-backed vehicle service contract can last from just a month to several years, depending on what they offer. With a dealership vehicle service contract, service usually needs to be completed at that specific dealership, so be sure to consider that before purchasing one. There is no need to buy one at a dealership that is six states away.
A third party or independent vehicle service contract is the best you can buy after the vehicle’s initial extended warranty has expired. It can allow for the flexibility of having your car serviced at numerous service facilities, so if you are on a road trip or away from home, you can rest assured any repairs can be performed.
Why Do I Need One?
Buying a vehicle service contract really comes down to the specifics of what the plan entails, but a good one can offer a slew of great benefits.
Essentially, a vehicle service contract protects against any unexpected vehicle repair costs by covering those costs. Vehicle service contracts help mitigate those nasty costs and any financial stress that comes with them—because let’s be honest, shelling out thousands of dollars to fix a car isn’t something most people can budget for in today’s economy.
There are added benefits to having a vehicle service contract that goes beyond covering repair costs. Having a car with a vehicle service contract can easily increase the resale value of that car. It lets future owners know that the car was most likely well maintained and cared for, and any issues that arose were promptly and correctly taken care of. There is no guesswork if a car did or did not have the proper repairs made. The vehicle service contract is kind of like a seal of approval letting other, potential owners know things were ran like a tight ship.
Is It Transferable?
In most circumstances, a vehicle service contract is transferable to a new owner for a small fee, so if you are planning to dish out money for one and you know you are going to sell it in the future, make sure you buy a warranty that can be transferred.
In some cases, a vehicle service contract provides other, more useful benefits, like towing, car rental discounts, lockout services and trip-interruption benefits to help ease costs if something goes wrong with your car. Pick the best warranty for you and your needs.
There are plans for all types of budgets and lifestyles. Different vehicle service contracts have different deductibles and requirements. Some require that you pay for the repairs upfront and then submit a receipt for repayment, which can defeat the purpose of a vehicle service contract altogether if you are out the money for an extended period. Others require that you meet a certain deductible before they will pay for anything. Be sure to shop around and get the best plan for you and your car’s needs.
Look at the reliability of your vehicle. Read online reviews and see where other owners are having trouble. If you have a generally reliable used car, option for the vehicle service contract that has a higher deductible that may require submitting receipts. In all likelihood, you would probably never need to use it, but it is a nice way to guarantee peace of mind. An unreliable car could costs thousands to repair and keep on the road, so buy accordingly. You want a plan to save you money, not cost you more.
Look at It as an Investment
There are many good reasons for buying a vehicle service contract for your used car. Not only can it help with the financial burden of repairing on older vehicle, but also benefits like roadside assistance and an increased resale value are things that should not be over looked. Buying a vehicle service contract is an investment to not only save you money, but also keep your car on the road for years to come. Be sure to get a free quote from CarShield today for a great vehicle service contract you keep your vehicle protected for years to come.