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What’s the Right Price- How Much Should I Pay for an Extended Car Warranty?

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Before a purchase is made, easily the most important question you ask is: How much is this going to cost me? From girl scouts peddling cookies at your front door to online companies bombarding you with pop-ups, it seems like these days that everybody is trying to sell something. And no doubt, one of the questions we receive most often: How much should I pay for an extended car warranty?

We don’t like to think that we are trying to sell you something. Yes, we are exchanging our product for money. But we believe that we help our customers with our extended coverage, rather than just sell it to them. We know this might sound pretty sappy, but let us explain why we feel this way.

The first thing we need to discuss is that there is no universal price. This means that what you pay for an extended car warranty can be different from what somebody else does. This is because there are various factors that contribute to the price of extended coverage.

Even if you had two drivers that had the same make and model of a vehicle that was the same age, had the same mileage, and got the same level of coverage, there is still a very good chance what you pay for an extended car warranty will be different.

While we can’t give you an exact amount that each of you will pay for an extended car warranty, we can give you a general estimate. Typically, the average extended coverage cost ranges from $350-$700 per year. But as we said earlier, every policy and price is different.

Before you say that’s too much to pay for an extended car warranty, remember:

Cost of Repairs– With repairs reaching an alarming high, why pay them when somebody else can? You see, when you have extended coverage, your car is protected. Some people say, I would rather just pay the $1,200 repair. But once your vehicle leaves the repair facility, you’re back in the same boat and could be facing another $1,200 repair. Think about all that can happen to your car in 5-years.

Additional Benefits– When you purchase extended coverage, you don’t just get your repair bills taken care of. Remember that when you pay for an extended car warranty you’re also getting a lot of bonuses at no extra cost. These bonuses include roadside assistance, rental call service, lodging accommodations, and much more all complimentary.

Price/5 years– Even though extended coverage is affordable on almost any budget, it is still a bit startling when you think of paying for something you cannot use right away. Because you have to wait, you can’t get instant gratification. But what you pay for an extended car warranty gives you 5-years of worry-free driving, which is a bargain when you really think about it.

There is no denying the benefits to extended coverage. Critics will exist no matter what, but we’re certain that the value far outweighs the cost. Call us today to get more information and your free quote!

 

*A Vehicle Service Contract (VSC) is often referred to as an “extended warranty”, but is not a warranty.  A VSC does, however, provide repair coverage for your vehicle after the manufacturer’s warranty expires. A VSC is a contract between you and a VSC provider or administrator that states what is a covered repair and what is not. Endurance is an administrator of VSCs and does not sell warranties.*

Author: Shaun Howard

Shaun Howard has been a vehicle protection specialist with Endurance since 2010. A Chicago native that recently relocated from the Lincoln Park area to the up-and-coming Avondale neighborhood, Shaun is a huge Chicago fan. Supporting his Bulls, Blackhawks, and Bears (oh my!), he admits that he has zero interest in baseball. A business admin major at Northeastern University, Shaun understands that every customer is different and should be treated accordingly. This is why he always finds the right level of coverage at the best price for all his clients. Connect with him on Google+!

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