Tips for Determining the Best Car Warranty for You

 While the best car warranty for you may well be the most comprehensive one available, depending on your individual needs, it may prove to be no warranty at all. Not all warranties are equal. Most offer only limited auto coverage that includes faulty or malfunctioning parts. Some warranties are parts only while others include parts and labor. The most comprehensive warranty offers Auto Bumper to Bumper Warranty coverage, but even those have limitations. For instance, most warranties do not cover normal wear and tear, routine maintenance like oil changes and fluid replacement. Before you agree to purchase the warranty on a new or certified preowned vehicle, be sure you understand exactly what it covers, for how long and any limitations and/or fees that go along with it. 

Determine Your Need

Warranties are designed to protect new owners of vehicles from financial loss owing to the failure of specific parts. However, warranties are not free. The cost of a warranty is added to the price of the car. You may purchase the warranty and have nothing happen to the car in which case you would be paying more than you need to. On the other hand, the car could be a lemon and you’ll be constantly using your warranty. A warranty may be the kind of insurance you need for added peace of mind. Then again, if the only warranty offered is limited and doesn’t include the cost of labor and only covers faulty parts, you may end up spending a lot of money despite having the warranty. In that case you should save your money.

Beware of Extended Warranties

Extended Auto Warranty Companies claim to cover more of the car’s parts than the limited version. While it may cover more, it still may leave plenty uncovered, although the price you pay for it may jump remarkably. It is important to know exactly what is covered by a warranty. If a warranty covers the brake system but not pads, shoes and drums, is it worth it? Many warranties say they cover various systems but then simultaneously do not cover the component or parts of those systems. Be sure you know what a warranty covers before you buy.

Check for Manufacturer Warranties

It is possible that the manufacturer covers something such as the power train. Make sure you know this, or else a dealership might try to sell you a redundant warranty for something already covered.

Determining the best Auto Warranty is largely a matter of how willing you are to gamble. You may never need the warranty, so buying it could cost you thousands of extra dollars that prove to be a waste. Even if you do need it, it may prove to cover less than you hoped. The best thing to do is to weigh the possible costs of not having a warranty against the costs of purchasing and using it.

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