To Buy Or Not To Buy Extended WarrantyAn important question to ask yourself, when you are buying a new car is: Should you buy extended warranty, or not? There seems to be a variety of opinions in regard to the issue of buy extended warranty or not. What is Extended Warranty? All new cars come with a warranty anyway, don't they? Yes, all new cars come with a warranty of at least 3 years or 30,000 miles, whichever comes first. But an extended warranty is a warranty that covers major car repairs after the 30,000 mile or three year mark. The problem lies in that an extended warranty does not usually cover all, or even most repairs. An extended warranty covers a major part replacement, if that part has gone bad before its life expectancy states that it should. In other words it covers defective parts, or part replacement when something unexpected happened to the car. Obviously, there are certain requirements, in order for you to be able to make a claim based on an extended warranty. You must perform regular maintenance by the dealer and keep records of that maintenance, should you be called upon to prove it. So, here comes the question again. Should you buy extended warranty. And I say the question comes up again, because extended warranties certainly have their drawbacks. But, then again; what if that transmission does break down before its time? What if your engine does have valve problems, for no apparent reason? If you had that extended warranty you would not have to worry about this type of problem. So Do you Risk it, and Go Without Protection, or Do You Bite the Bullet and Buy Extended Warranty? That question can really only be answered by you. It really depends on how much of a gambler you really are. Are you willing to pay for the peace of mind you attain when you buy extended warranty, or are you one of those people that does not really believe they need the extended warranty? How much Can You Buy Extended Warranty For? Extended warranties will vary in cost. It depends on the type of extended warranty you buy. Some can run as little as a few hundred dollars, and others a couple of thousand. These costs are then added on to the financing of your new automobile. If you do decide to buy extended warranty be sure to read all the fine print, and ask pertinent questions. Remember the sales person wants to sell you on everything, but you really need to know what the extended warranty really covers and what it doesn't. You don't ever want to be in the situation where you think the repair will be covered by the extended warranty and find out later that it isn't. so do you your homework right when you buy extended warranty! |