Purchasing an automobile is often a complicated process that requires many decisions. Shoppers have to decide on the car itself, how it will be paid for, and if any warranties will be bought. While expert car buyers may know exactly what to do, others could be left wondering what to buy and which offers to pass on.
Our extended car warranty purchasing guide may assist you in deciding what to do if you are offered an extended warranty. These warranties are commonly presented to car buyers, regardless of whether they purchase a new or used vehicle.
Extended Warranty Types
Two different types of extended warranties can be offered when purchasing an automobile. A manufacturer extended warranty, which is usually more expensive, is the first type. Third-party warranties are the second type, which could prove to be beneficial in specific instances.
Manufacturer extended warranties have many advantages, even if they come at a higher price. One benefit of purchasing a manufacturer-backed warranty is that your car could be repaired more quickly than with other warranty types, as dealership service departments do not require authorization for covered repairs. Additionally, these warranties mean that your vehicle will be repaired by factory trained technicians and with manufacturer authorized parts. Even if you sell your vehicle, the warranty can be transferred to the new owner.
Third-party warranties may be cheaper, but they do not have the same advantages of manufacturer-backed warranties. This type of warranty often requires authorization for repairs and may not always be transferable if the vehicle is sold. It is important to ask questions and perform research to know exactly what you could be buying when a third-party warranty offer is presented to you.
Dealerships are capable of selling both manufacturer and third-party warranties. This means that it is also very important for you to look into each offer if you have made the decision to purchase one. You have the ability to decide which warranty is right for you, instead of possibly purchasing one that may not be the best fit.
When to Buy
It is important to know that you can purchase an extended warranty at any time before the factory warranty expires on a new vehicle. Although you may not have to purchase the extended warranty immediately, it can prove beneficial to do so as quickly as possible.
That’s because your vehicle might not qualify for the same coverage as it would have prior to the standard factory warranty ending. Additionally, the price of the coverage could increase if your vehicle still qualifies for one.
Be safe and purchase the coverage as soon as you have made your final decision to buy. You may be able to improve your situation by acting quickly.
Taking the First Step
Regardless of whether or not you are interested in an extended warranty, you have to take the first step in purchasing a vehicle. Our team at Auto Credit Express can assist you by matching you with a dealership that specializes in working with all kinds of credit situations. Just apply online and one of our representatives will be in touch with you soon.
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