Should I buy an extended warranty for a used car?
An extended auto warranty can be excellent peace of mind when buying a new or used vehicle, but is a used car extended warranty worth it? Where is the best place to buy an extended warranty for a used car? The reality is that vehicle repairs can be hard on your wallet and while maintenance helps, sometimes you just can’t avoid these expensive repairs. A good extended warranty is an excellent option when getting a used vehicle but here are some important things to consider:
1. Cost: Peace of mind is great but at what cost? Like most products sold in the dealer finance office, you have the option of looking around to avoid the often large commissions. The question ” Should I purchase an extended warranty on a used car? ” often comes down to cost vs benefit. Shop around, it can save you a lot of money.
2. What’s covered (or not): Some warranty providers have been famous for lavish brochures listing what is covered, but the real question is: what’s not covered? Considering most of us can’t name the components that make up our vehicle how do you know what isn’t included? Look for warranties based on what isn’t covered much like you would with house insurance.
3. Repair Shop: You deserve the right to choose where your vehicle is repaired. The choice should be yours whether it’s your local dealership or favourite independent repair shop. Should you choose to get an extended warranty on a used car, make sure you have that option.
4. Transfer and Cancellation: Life changes quickly, and an extended auto warranty is a long-term investment. A good product will allow for transfers if you sell and cancellations in some form.
5. Eligibility: Coverage and eligibility can vary greatly based on your vehicle’s specifics, so shop around. Extended warranties are often difficult and more expensive to purchase after the manufacturer’s comprehensive warranty has expired, so if you are considering a used vehicle, find out if it still has the 3-year/60,000 km, 4-year/80,000 km, or 5-year/100,000 km comprehensive warranty. If it does, find a comprehensive warranty that makes sense.
6. Term: Ensure that the length of the extended car warranty provides the maximum value for the price.
Should I buy an extended warranty on my car?
Buying an extended warranty on a used car should be a straightforward process without a lot of confusion, cost, and regret. Should you decide to buy an extended warranty on a used car, avoid aggressive sales office pitches and do some research before committing. We want to bust the bad points and show why Obvi is the only company you should come to for an extended warranty in Canada. Should I buy an extended warranty on my car? With Obvi, yes, you should.
- You pay a lot for an extended warranty at the dealership- That is very true. That’s why Obvi is great. Obvi cuts out the middleman, meaning no dealer commission, and you can go online directly and save money.
- I don’t understand the policy– Often, you are given a policy full of technical jargon that might leave you confused or a fancy brochure with hundreds of components covered or not covered. The dealership finance office can be more focused on the sale than providing you with an explanation of how it works. With Obvi, you get dedicated reps who understand the coverage and what happens during a claim.
- What if my needs change? Obvi has created the only extended warranty in Canada that can be transferred through a dealer trade. This means that even if you don’t use the warranty, you can get a better sale or trade value with an Obvi warranty being transferred to the next owner. If something happens and your vehicle is a write-off, cancellation and refund options exist.
Who is an extended warranty for?
Vehicles are becoming more complicated, and it doesn’t take long to realize a return with a properly priced extended warranty. You’ll have peace of mind so no need to worry. With Obvi, you won’t pay the high dealership commissions and you know who to call when you have a breakdown. Even if you don’t use the warranty while you own the car, you can still realize a return from the higher resale value of the vehicle!
For more information, try an instant quote.