How Much Can An Extended Car Warranty Really Save You?
We’ve all been in that situation before, you’re buying a new or used car after days, weeks, or even months of searching for the perfect one. When you do find the little engine that COULD be yours, you’re then presented with a variety of options and additional features to add to the overall price of the vehicle. Some of these options may be frivolous like a luxury electronic setup or undercoating that rarely assists to extend the life of your vehicle, but others may be worth a second glance, or at the very least a little research, options like an extended car warranty.
Many dealerships will sit you down in their Finance and Insurance (F&I) Office to discuss your additional options and many see this as an attempt to squeeze any extra money out of a driver and increase profits for the dealership. This not uncommon thought is actually somewhat true, as dealers often purchase third-party extended warranties and mark them up significantly to add to their bottom line. This isn’t to say that every F&I manager is waiting in the shadows for your to pick your car, ready to pounce when they hear the words “I’ll take it,” but there are more cost-effective options for drivers wishing to protect their investments.
With any extended warranty, the coverage is put in place as a means to close the gap in coverage the the original manufacturer’s warranty created when it expired. Many drivers today are driving relatively new cars unaware that their factory warranty may have already expired or is about to expire, and could soon fall victim one of those dreaded breakdowns any day now. Without coverage, you’ll be stuck on the side of the road waiting for assistance with your vehicle. But with coverage, you’re in for worry-free driving, just like you had when the manufacturer’s warranty was in place.
Do You Really Need an Extended Car Warranty?
There is some debate on the usefulness of an extended warranty for cars, and some skeptics believe that the cost outweighs the value of the policy. While in some cases, this can be true but think of if this way, even though you might not have gotten in a car accident last year, you still paid for your collision insurance for the mere fact that if you were in an accident, you would be covered. The extended warranty on your car works very similarly, only we can tell you it’s much more likely that you’ll be using your warranty to pay for a repair than the likelihood that you would use your insurance for an auto accident.
The question isn’t “whether or not my car will break down,” but rather “when will my car break down?” And the answer to it may be a lot sooner than you’d think. Endurance can offer you the vehicle protection (commonly referred to as an auto warranty or extended car warranty) that you need at a price that is much more affordable than the average repair costs for even a minor repair. With additional benefits such as roadside assistance, rental car, and towing service included in every Endurance vehicle protection policy, our protection plans can save you money even further. We know that you may still be on the fence about extended warranties in general, but check out this useful infographic below to figure out just how much you can really save by using an extended car warranty.
*A Vehicle Service Contract (VSC) is often referred to as an “extended auto 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 vehicle service contracts and does not sell car warranties.*
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Alex has worked in the automotive service industry for over 20 years. After graduating from one of the country’s top technical schools, he worked as a technician achieving a Master Technician certification. He also has experience as a service advisor and service manager. Read more about Alex.