Whether you just bought a used car or have had one for a while, it’s important to protect your investment. While many used cars have proven to be reliable for many years, older vehicles, poor maintenance by previous owners, and hidden defects at the time of purchase can make high-mileage used cars more vulnerable to breakdowns and repairs.
An extended used car warranty gives you peace of mind that, even if you don’t know for certain that your used car was not sold to you as a “lemon,” you won’t face major financial stress if unexpected repairs and difficulties arise.
Things to Consider & Be Aware Of When Buying Used Car Warranties
Looking for a warranty might be confusing because there are so many different vehicle warranty companies available. It’s important to evaluate your options and read warranty reviews. Which plan suits you the best? How can you be confident that the coverage you’re receiving is good? Which service provider has the best price? Is there good customer service?
Consider Your Needs
Consider what you require from your used car warranty first. Analyzing the reliability of your car and the average cost of repairs and maintenance may be helpful. If you have a history of car repairs, keep in mind that some cars tend to experience the same problems again. Assess your financial situation to see if you can afford the pricey repairs. Using this information, choose the level of coverage that will provide you with peace of mind for the duration of the car’s ownership.
Do you want coverage for all necessary systems or do you prefer comprehensive, bumper-to-bumper coverage? You should also consider how much you feel comfortable paying each month. Think about whether you would like to spend more each month with a low deductible or a deductible with each repair. Making these choices before requesting quotations is important.
Here’s a checklist to keep in mind as you consider your needs:
- What monthly budget do you have for a used car warranty?
- How old and how many miles has your car traveled?
- Which deductible do you consider acceptable? Are you in favor of a $0 deductible option?
- Has your car ever needed maintenance before? A pattern of breakdowns?
- How reliable is the brand and model of your car? What are the typical failures and related repair costs?
- How significant are additional benefits, like roadside assistance?
- Do you want a significant refund policy in case your purchase leaves you unsatisfied?
- Is the transferability of your warranty important?
- What kind of coverage are you looking for?
Know all about the different plans and levels of coverage that are available. Look for companies like Autopair that provide premium, complete coverage that is insured. You can easily customize the coverage for your car. We offer the best-used car extended warranty in Canada. Some firms will only offer powertrain and bumper-to-bumper warranties, while we offer options in the middle that might be more suitable for your budget and vehicle.
Positive Reviews & Reputation
The company should also be well-known for providing excellent customer service and for keeping the promises made in their contracts. Partnerships and endorsements from industry leaders, as well as Better Business Bureau (BBB) certification and good ratings from the BBB and other review sites, can be evidence of this. The duration of the company’s involvement in the warranty protection market is another useful indicator.
Here are some more suggestions for purchasing a used car warranty and what to look for in a provider:
- Strong endorsements and partnerships with leaders in the industry.
- A good customer reputation, as proven by various review sites and the company’s BBB rating.
- A selection of agreements and plans with various terms, levels of coverage, and add-on choices. The more options for customization, the better.
- Roadside support, rental car reimbursement, trip interruption services, and a reachable customer service team are additional benefits that come with every package.
- Willingness to go over the details with you. The small print of used car warranty contracts frequently leads to a breakdown in communication between a supplier and a consumer.
- Options for financial flexibility, such as low deductible options, monthly payment options, and a willingness to negotiate a fair price.
Although the number of years a company has been in business shouldn’t always influence your choice, more experienced businesses will have a greater understanding of client needs and preferences.
Used Car Extended Warranty Costs
Before making a purchase, we advise requesting free quotes from multiple independent companies while looking for used car warranties. The price of a certain warranty plan cannot typically be found online because it depends on the plan you select, the length of the term, and the make and model of your automobile, among other things.
We found that mid-level or powertrain-level contracts, which are more typical for vehicles with higher mileage, range in price from $70 to $160 per month for used car warranties. Make sure you understand the complete expenses, including set monthly payments, deductibles, and even fines for breaking certain terms of the contract, once you’ve gotten quotations from several providers.
Our expert review team of industry professionals takes pride in offering truthful, reliable facts. As you can see, there are many things to think about when buying a used car warranty. Before making a choice, make sure to do your research and ask lots of questions. Additionally, always have a car inspection before purchasing a used vehicle to make sure there are no unexpected issues with the vehicle you intend to buy! You can keep away from any issues that could develop later on by doing this.