A New Extended Warranty May Be Just The TicketWhat is new extended warranty? If you've been been to a dealership looking at cars and gotten as far as choosing one then surely you have been bombarded with the new extended warranty options. And if you are planning on going to the dealership soon, then the new extended warranty will question will come up soon. What is a New Extended Warranty? An extended warranty is a contract between you and a warranty company and works similarly to an insurance plan. The contract obligates the warranty company to pay for repairs to your car after your manufacturers warranty has run out. A new extended warranty gives you protection against future major mechanical repairs. The essential Element in a New extended Warranty is to Know What is covered You need to read your new extended warranty contract before purchasing your extended warranty to really understand what you are buying. There are different types of new extended warranty and so there are different types of coverage. You may think you are covered for a certain type of repair, and it turns out that, that was not the type of coverage that you bought. You do not want to find out about this three years later. The time to know about the type of coverage you will receive, is before you buy the new extended warranty. Why do You Need New Exended Warranty? Mechanical repair costs continue to soar. There are many reasons why, but generally it is because of new technological advances in the car industry. That is why car manufacturers and warranty providers came up with the idea of new extended warranties. These extended warranties help protect your investment and should be taken very seriously. What about a new extended warranty deductible? You need to investigate how much your deductible is going to be before purchasing your new extended warranty, that way you wont be surprised when you are charged. What type of new extended warranty should you buy? There are many different types of new extended warranty, and the price will vary according to the type of extended warranty you purchase. For the record though, you should try to look for powertrain warranty. This type of warranty covers the engine, the transmission and other major engine parts. These are probably some of the most expensive parts your car has, and do not fail everyday, but if they should, then you have the security of knowing that your new extended warranty will kick in. How Long do I Have to Make My decision? You can really make an extended warranty decision at any time. It is better to make the decision about a new extended warranty before you manufacturers warranty runs out. It will cost you less, but you can still purchase one after your warranty runs out. How do You Process a Claim on a New Extended Warranty? The only thing you really have to do is take your car to an authorized service dealer and show them your policy. They will call the provider and work out the details from there. |