You could be the kind of person who always rejects the idea of extended auto warranties or someone who thoroughly trusts them. However, we urge you to take a moment and consider this decision strictly on an item-by-item basis. For this, you need to find answers to these below-listed four crucial questions.
Question 1 – What is the duration of the factory warranty?
Firstly, take the time and understand what is there in the car’s factory warranty. It is like an in-built coverage that you get with your vehicle when it comes from the factory. Now, this warranty is valid for a limited mileage or term.
Usually, if you buy a new car, it would have 36,000 miles or 3-year coverage. Some brands have increased this limit to 4, sometimes, even five years, and miles to 60,000. As part of this warranty, most of the vehicles’ components are covered for failures and defects. Jason, an associate offering homework help with TFTH,says that he got an extended warranty, which included a few wear and tear items under warranty and the basics.
Many companies do cover items such as wiper blades, tires, brake pads, and others in their policy. So, the more you get, the better it is. When buying a used or a second-hand vehicle, never take it without confirming how much the factory warranty is pending.
Question 2 – How long do you wish to keep this car?
Now, this is a pivotal question because there are a lot of people who desire a newer or updated model every two to three years. Now, the right thing with that would be that you will have a factory warranty with your newer car.
If you buy your car on loan, the average term of the loan is 60 months. So, there’ll be a few cars, which would still be covered under warranty even after the loan term is over. However, if the loan duration is longer, you might end up in a situation wherein you might have to bear a considerable repair cost, while a chunk of your car payment is pending.
In case the factory warranty covers for you as long as you own the vehicle, great because then, you do not need an extended auto warranty. Maria, who work with TAE and provide “do my homework for me” service,says that she took the extended warranty because she always uses a car for about a decade.
So, if you, too, plan on keeping this car for a longer duration, then hold on tight, and carefully understand the following two questions.
Question 3 – Did you review the past reliability factor of the brand of the car you intend to buy?
So, whichever model of the car you are interested in buying, do thorough research. Here, you don’t just have to consider the MSRP (Manufacturer Suggested Retail Price) or the cost. Check out several different online forums. They are full of truck-loads of information. You can easily find one forum dedicated to your choice of brand or car.
If you have any doubts, you can ask the questions to the current owners of the brand. See-through, the entire forum, is there any particular issue experienced by more than a few customers? Are the customers finding this vehicle reliable? Study the TSB. You should also enquire about the service history if you buy a used car. You can use the consumer reports to know about the reliability history of the vehicle. Danny, an EduWorldUSAemployee, says that he read through several comments on the online forums before finalizing the car he wanted to buy.
When you have all of this information handy, you can decide whether or not you wish to put yourself through the risk of buying a car sans warranty. Trust us when we say this, we have seen a lot of potential buyers completely give up their idea of buying a particular vehicle of their interest if they ever found any reliability issues.
So, take adequate time to weigh the pros and cons. If there are issues with reliability, but you like the car, you can buy it, but consider getting an extended auto warranty then. However, if reliability is a detrimental factor, you can avoid extended warranty and try to shift your focus to another car. Regardless of everything, there is never a 100% guarantee.
Question 4 – Can you bear the cost of an enormous repair bill?
Last, and certainly the most vital question is – Do you own requisite money to pay for the repairs or the component replacement, should something happen to your car? If not, would you pay for it with your credit cards? What you might know is that some of the major repairs are too costly. Robert, an associate with TrumpLearning and continuing photoshop online course,says that he got extended warranty because he was sure that a huge repair bill was the last thing he would want.
Let’s understand what Robert is saying via an example.
A new engine could cost you anywhere close to 4000 dollars. You might have to shell out a similar amount for a new transmission too. On the other hand, if you have to buy a new electrical control component, you’ll have to bear an approximate cost of 2500 dollars. If you can bear the cost, great, else, you can consider getting a warranty.