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Extended warranty – Car tips and scams

Extended warranties are very confusing. Every dealership will tell you that you definitely need one and trust me they will offer you the most expensive one they’ve got. Don’t buy into this. Extended warranties are useful and important but they don’t need to cost you an arm and a leg. There are many warranties that come with your new car when you get it. These can also be confusing.

Here are list of the most popular ones.

1. BASIC WARRANTY: This is the “basic” warranty that covers everything on your car that isn’t subject to everyday wear and tear. This really only covers the things on the car that may possibly be a manufacturer defect. It also covers emissions equipment because the federal government for 50,000 miles or five years requires it to.

2. RUST/CORROSION WARRANTY: This warranty only covers rust that may be doing damage to the vehicle. This does not cover surface rust.

3. ROADSIDE WARRANTY: This is the warranty that will keep you from being stranded on the side of the road. Roadside assistance means they will come out to where you are and take care of things like flat tires, being locked out, and running out of gas. The specifics on roadside assistance warranties can be different so make sure you ask.

Extended warranty   Car tips and scams

4. BUMPER TO BUMPER WARRANTY: This warranty covers the all the parts of your car that move and get wear and tear. These are parts such as transmission, engine, pistons, bearings, cooling system, differential, steering, brakes, and drive shafts. The specifics on this warranty are also different with each policy so be sure to ask and read all the details. Bumper to bumper warranties are exclusionary warranties in which the only thing stated in them would be what ISN’T covered.

Extended warranties would be warranties you would purchase to cover your needs when the dealer warranty has expired. They are service agreements between the warranty company and yourself. These are agreements stating that the warranty company will pay for all repairs listed in that warranty. If your new car doesn’t come with one of the above-mentioned warranties, you may want to purchase an extended warranty with that one included.

Searching online for a warranty is quite beneficial. Most sites that offer warranties, like 499 CarWarranty, will let you browse through several packages to see which one would best fit your needs. Buying a warranty from an outside service, like an online source, is almost always cheaper and less confusing than trying to buy one at the dealership. Even if you are more comfortable buying a warranty from the dealership, you should still use the online sources to figure out what you need and about how much it will cost you.Extended warranty   Car tips and scams

When buying your warranty from the dealership, make sure you have gotten at least one or two quotes from outside warranty sources so you know what you should be looking for. With these quotes in hand, you will know if the dealership is trying to charge you an outrageous amount of money for your extended warranty. It is also very important that you read the warranty very carefully. Many times there are little dumby clauses that are slipped in and never get read until it’s too late. These clauses can be things such as effective dates, car rental agreements, and fine print regarding what is actually warranted. Policies classified as mechanical breakdown policies will not cover wear and tear damage. You will want to get the wear and tear policy. This will cover things that get everyday wear and tear and are more likely to have a problem.

When buying an extended warranty from a dealership, make them write down everything that is and is not covered in plain English. Do not let them give half answers and partial statements because in the end you will be the one who loses money and time. Your best bet in any warranty situation is to buy the warranty directly from the source. Buying a warranty from a dealer just results in added costs.

Look for the following things when looking to buy an extended warranty:

Immediate coverage.
Car rental reimbursement.
Towing reimbursement.
Money back guarantee. (This needs to be 100% and you need to do this before you make any claims.)
Buyer/seller transfer. Make sure the warranty doesn’t end the minute you stop   owning the car.
Time frames for repairs. (So they don’t have clauses that say that you car has to   be left for a certain amount of time.)
Immediate repairs. (Watch for clauses that gives them weeks between when the   car breaks to when the car is to be repaired.)
Coverage for internal lubricated parts of the engine.
Emergency roadside assistance including battery boost and fluids.Extended warranty   Car tips and scams
Suspension coverage.
SUV coverage.
Overheating coverage.
Wear and tear coverage.
Mechanical breakdown coverage.
$0 deductible. (This may cost more when you buy the warranty but it will be worth it later.)
Single deductible per visit on same vehicle.
Multiple repair shops for repairs. (Not just the one they list or where you bought the car.)
Repair shop paid directly by the warranty. (Not by you.)
Good rating by an A.M. best rated insurance company.
Tire road hazard protection.
Trip interruption reimbursement.
Component break and fail coverage.

When buying an extended warranty, be sure you look over everything as carefully as possible. Read all fine print and get anything you are unsure of in writing. Don’t let anyone talk you out of something you firmly believe you need and want. Buying an extended warranty may take a little extra time to make sure you get what you want, but if you ever have any problems, it will all be worth it.