Let’s say you just bought your dream classic car, like an early ‘90s Dodge Viper, or you just needed to get basic transportation, and a Toyota Camry from the mid-2000s was your number one choice.
Perhaps you’ve always dreamed about owning a luxury car like a Bentley or Mercedes, but the only ones you can afford are a decade old. In all of these cases, the factory car warranty (if there ever was one) will be long expired.
Having a car warranty is a matter of course when you purchase a new vehicle—it’s included and you don’t have to think about it. But when you’re buying pre-owned, getting a used car warranty should be factored into the cost of your purchase. Why? The benefits of extended warranty coverage far outweigh the cost.
Below are the top 5 reasons you should purchase an extended warranty.
1. Older Cars = More Problems
Chances are decent that when you purchase an older vehicle it’s going to have issues a new vehicle won’t. Time is hard on cars, and rubber pieces, adhesives, and paint degrade just by sitting.
While a used car warranty probably won’t cover things like tires or trim, it will cover parts that may get damaged as a result of those things being worn out. If, for example, a rubber seal around an electrical part has crumbled over time, that part could short out and cause your car not to start, the windows not to open, and other issues.
Even pre-inspections and excellent care by previous owners can’t guarantee your new (to you) vehicle will be problem-free. Plus, as miles rack up, parts get nearer to the end of their lifespans. You could have the car for a week and the alternator could go bad just because it reached its breaking point.
2. Breakdowns Aren’t as Stressful
Most auto service contracts or extended warranties feature roadside assistance. Not only will you be able to get a tow if you need it, but you can get help if you’ve locked yourself out of your car, you’ve run out of gas, your battery needs a jump, or you’ve got a flat.
If something catastrophic happens to your car, you can get it taken to the repair shop of your choice.
Unlike a manufacturer’s car warranty, which will require you to take your vehicle to a specific shop, one of the major benefits of extended warranty coverage is that you can take your vehicle to the specialist you prefer, perhaps one who works faster or does a better job with repairs.
Also, many auto service contracts provide a rental car to cover you during your vehicle’s repairs.
3. Long-Term Issues Are Taken Care of
Let’s say you wanted a late ‘90s Porsche 911 or perhaps an early 2000’s Mercedes AMG. These cars may have been reasonably reliable and durable under warranty, but some can have serious issues crop up before the 100,000 mile mark.
In the case of those 911s, the issue may be the dreaded IMS bearing that can destroy an engine. For that Mercedes, the electronic brakes could require costly computer parts. Fixing these problems out of your own pocket could break your budget.
These issues could be covered under an extended warranty or service contract, if you get the right package. Then, the peace of mind you get with your car purchase will let you enjoy it the way it was meant to be enjoyed.
4. Resale Value Increases
When you go to sell your car to someone else, they can rest assured that the car was cared for and there’s no deferred maintenance because you purchased a service contract or had an extended manufacturer’s warranty.
Mystery is one of the biggest factors that drive down resale value. If the next purchaser can’t reasonably expect that a vehicle was taken care of, they won’t pay top dollar. Additionally, you can transfer extended warranties and service contracts to new owners.
5. You’re in Control of Your Options
Not everyone needs the same level of coverage. The car owner who has their own body shop and can modify or repair the car in-house has different requirements from someone who knows nothing about cars.
With factory car warranties, many times the car buyer is at the mercy of whatever options come with the car. With an extended warranty or service contract, however, the owner gets to choose exactly what coverage they receive. Although that similarity unites these two types of coverage plans, there are still plenty of differences between an extended warranty and a vehicle service contract .
Protect Your Car with a Plan Through CarShield
Before you purchase your next vehicle, make sure you add a service contract to your shopping list. With CarShield, you get protection for your car—personalized protection—so you can enjoy the open road without fear of something breaking and draining your bank account when you take it to the shop.
Check out vehicle service plans through CarShield or call using the number at the top of this page to find the right one for you!