When you invest in a car, you’re also investing in its safety. Most manufacturers offer warranties that cover a new car for either a certain number of months or miles driven. For example, GM often offers a 36-month, 36,000-mile bumper-to-bumper warranty. However, the average person drives the full 36,000 miles long before 36 months has elapsed, leaving the car without warranty protection.
An extended warranty guarantees protection after that initial warranty expires, so coverage is available to take care of maintenance costs, power train components, and even roadside assistance. There are many perks to taking advantage of an extended warranty plan for your car.
It Will Pay For Itself
Extended warranties are known to have high price tags, but so do car repairs! The average engine costs $2,200, and HVAC systems run at least $500. It’s very possible that in just one or two repairs, your extended warranty has covered damage to a higher price point than its own cost. If that’s the case, then you are able to enjoy the perks knowing that you saved yourself a great deal of hassle and money.
Boost Resale Value
Extended warranties are usually transferable for a small fee, so you can make your car look even more appealing—and worth more money!—by offering the extended warranty in the mix.
Keep Your Budget
Extended warranties are perfect for people on a budget who would rather have one constant cost every month for the warranty than the unexpected costs of a blown engine or ruined transmission. As with all insurance policies, research is key to know that you get the most for your money.
Peace of Mind
Life throws enough stress at you; your car shouldn’t be an added layer of anxiety. With an extended warranty, you can avoid fear of a repair bill you can’t afford. Most repairs need to occur several years into a car’s life, after a general warranty has already expired. With modern cars lasting far beyond 100,000 miles, it’s a very wise idea to ensure extra protection for every mile you drive.