We all know the saying “You get what you pay for”, but sadly we oftentimes learn this lesson after we’ve made a ferociously fiscal mistake. Think of it this way: Instead of buying a brand new suit that was made with exceptional quality and will last you years, you opt for a suit from a nearby discount warehouse. You think you’re being a savvy shopper, but the bargain suit ends up not even lasting half as long as the higher-priced quality suit. Now the money you “saved” on the lower-priced garment ends up costing you more than you would have spent on the quality, higher-priced suit. This example is similar to why you should never purchase a cheap extended car warranty.
Like the discounted suit, a cheap extended car warranty can end up costing you more than you bargained for. By choosing a discount company rather than an established and reliable auto warranty company, drivers and end up spending more money in the long-run.
Because so many of these companies promise the world but rarely deliver, their prices seem too good to be true. This is because they are. These prices are low for a reason because the coverage in question rarely covers anything. The sales representative will throw out all sorts of parts and components and claim they’re covered, but you’ll never get full-protection with a cheap extended car warranty.
What is even worse is that many people end up having to pay double for their discounted coverage. Just like in the suit scenario, many people who purchase a cheap extended car warranty end up not only having to pay for this practically worthless coverage but also have to pay for the necessary repairs the plan was supposed to cover. And now a driver is not only out of pocket for an inferior policy, but also costly auto services.
When drivers purchase warranties that are advertised as “low cost”, they actually end up with a high-cost headache. Instead of falling down this rabbit hole of driver’s distress, pick a company that can supply you with affordable coverage, is well-established, and highly reviewed. Your wallet and vehicle will thank you in the long run!
*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.*