Every car owner should strongly consider taking out an extended warranty on their vehicle. That means that once your manufacturer-related warranty expires – you’ll have an extended warranty to pick up the slack.
Before choosing any extended policy, you must ask these five questions below. That will better equip you to decide which warranty best suits your needs and budget.
1. What Isn’t Covered?
Most extended warranty plans don’t cover general wear and tear or standard service-related costs, like oil changes or tire rotations. The main reason for getting an extended car warranty is to provide cover for the major expenses that regular people would otherwise not be able to do without breaking the bank.
Don’t be put off the items that aren’t covered, but be discerning when it comes to choosing your policy.
2. What Mechanic Can You Use?
Some third-party warranty suppliers have strict rules regarding selecting which mechanic you can take your car to when you make a claim. The manufacturer-related companies will allow you to use any of their dealership mechanics within their network – that means nationwide coverage instead of making you use one specific mechanic exclusively.
3. What Is Covered?
Extended car warranties can cover either a wide range of services and parts or only the bare minimum. When choosing a Subaru extended warranty you should find out what is covered by your chosen package.
Most extended car warranties cover breakdowns related to the engine and transmission, but they don’t cover basic service-related charges or parts. That isn’t the end of the world – because those charges are generally lower and wouldn’t require an extended warranty package to pay.
4. What Is The Claim Deductible?
Insurance and warranties can be tricky – particularly if you don’t know the terms and everything involved in putting together your deal. Most agents will offer you a “special deal” and, provided that the agent has your best interests at heart, one that will work out for you.
If, however, they are only trying to make numbers before the end of the month, your special deal might turn out to be a lot less special. A premium that is too good to be true often is because the lower the premium the higher your claim deductible will be.
Ask the agent how much the claim deductible is for your chosen package before you sign on the dotted line. It has to be an amount that you can comfortably afford to pay when needed.
5. Is That The Best Deal?
Don’t be afraid to shop around when choosing an extended car warranty. Many people are somehow embarrassed and are too shy to say no to a package deal they know little about.
Stand your ground with the sales agent, their job is to sell you a warranty, and your job is to get the package that is right for you and your car. Take the time to do the necessary research to ensure you get the best bang for your buck.
Smart financial decisions can’t be made successfully with ego involved; they have to be made with your best interests at heart. After all, what good is an extended warranty if you cannot afford the premium in the long term?