An extended car warranty is additional coverage that comes along with the standard warranty of a product. If you choose to buy it. Other names include a maintenance agreement, service contract or a service agreement. The extended warranty is there for consumers. It comes by way of the manufacturer, the retailer or the warranty administrator. You should go through the terms and conditions because they may be different from the original warranty.
For instance, the extended warranty may only cover normal mechanical failure. It would, therefore, exclude factors like malicious destruction, wear and tear, and owner abuse. That's before we mention 'acts of God.' These warranties normally sell themselves by adding 'goodies' that lack in the original warranty, for instance, they can offer roadside assistance and trip interruption insurance. APA advises consumers to buy extended warranties only when they feel that their vehicles might have problems during the warranty period.
What should I consider when purchasing an extended car warranty?
You should be sharper than a razor when you go through different warranties so that you can avoid fraudsters. You should consider factors like customer support options, policy services, and coverage when choosing the best-extended warranty.
How does it work?
You can buy your extended warranty even before the expiry of the manufacturer's warranty. In fact, we recommend that you should buy it when you buy your car so that you can get double coverage. Extended warranty service providers don't offer coverage if your vehicle comes with repair problems. In fact, most companies demand a 30-day waiting period to ensure that you're just not buying the policy because of a pre-existing problem or a current issue. Most companies also require that the consumer should use the manufacturer's recommendations to maintain the car.
How do we rate the Endurance extended car warranty?
Endurance is the leader in this area because it offers lengthy payment options, an all-inclusive coverage area and it has a diverse policy selection. It is one of the industry's most reputable companies. It guarantees excellent customer service and lengthy payment options (24 months). Apart from high-mileage coverage, Endurance also boasts of being one of the cheapest providers in the market. If your car is below 160,000 miles, then you can secure coverage of up to five years. The company's coverage is applicable across Canada and the U.S. You can communicate to their agents in a 24/7 time frame.
How good is Autopom?
If your car has 225,000 miles and is 20 years old, then you can access an extended car warranty from this company. This service offers policy services and the standard coverage with some extra goodies that are not provided by competitors; they include outstanding coverage for older vehicles and high mileage restrictions. The coverage lasts up to 5 years. The money back guarantee lasts for 30 days, and you are allowed to pay for the service within two years.
How do we rate Carchex?
Carchex is another well-established brand in the warranty market, and you should definitely consider it when you're looking for an extended car warranty. So how do we rate it? Overall, it offers a warranty that is fairly standard. However, it provides a lengthy coverage and five policy plan choices. It has a Mileage Restriction of 150,000, and the coverage can last for up to six years. They have a good customer care platform, and we love that the agents don't force you to buy their service like their competitors. However, they don't offer a 24/7 support.