Extended car warranties have been around for quite some time now. But despite their existence, many still do not have a clear understanding of how they work. As a matter of fact, there are some myths and misconceptions surrounding this industry. In this piece, we shall seek to lay bare and demystify all misconceptions that have led many (probably even you) astray.
‘With my manufacturer’s coverage, I do not need an extended car warranty plan’
You will be safe and protected until your coverage expires. When it expires, you will be exposed to all manner of repair costs both large and small. Without an extended car warranty to kick in, you will most assuredly wish you hadn’t gotten your car in the first place, especially if you are working on a tight budget.
It is paramount that you get the coverage when your car is still new. New cars fetch lower costs. It is the same logic as with life insurance. The more you procrastinate, the more you will spend in the end. So while your car is still young and in perfect condition, seek to have an extended plan. It just might include other benefits like lost key recovery, trip interruption, car rental and towing.
It is convenient for me to buy my warranty at the car dealership
Well, it might be convenient at the moment, especially if you will be making the purchase at a dealership. You should, however, not be in a hurry. You still can make the purchase later through websites that have been set up. This way you will have sufficient time to make comparisons and land the best warranty there is. Be sure to read the fine details, most often written in small print. Not reading these details might be detrimental when you need to make a claim.
The bank requires an extended warranty to approve your loan
Many individuals think that extended car warranties are a requirement for car loan qualification. Well, you will be glad to know that it is not. Loan approvals are independent of car warranties. You therefore car get your car on loan and still have time after to look for a warranty without any rush.
Do not fall prey of any of these myths. Be wise and make the right decision. Getting a car is an expensive endeavor, even when you are buying it on loan. You cannot afford to make mistakes. To be on the safe side, choose to work with American Automotive Service Solutions.