A vehicle is one of the biggest purchases you will make, and for most people, one that you will put to use every single day. Especially if you are buying a used car, you want to perform regular maintenance to protect your vehicle as it ages and increases in mileage. No matter how well you maintain your car, though, chances are that it will need a repair at some point, and those unexpected repairs can really put a dent in your budget. One of the best ways to protect yourself against the cost of unexpected repairs is an extended auto warranty.
What is an extended auto warranty?
An extended auto warranty is an agreement between the car owner and a warranty company, obligating that warranty company to pay for repairs covered by the contract for a specific period of time. With an extended auto warranty, you are protecting yourself from the unexpected cost of mechanical failures. One major repair often ends up costing as much, or even more than the entire cost of the warranty.
What does an extended warranty cover?
CARCHEX, one of the leading providers of extended auto warranties, offers two types of extended warranties; one is called an exclusionary contract and the other a listed component contract. An exclusionary contract is commonly referred to as bumper-to-bumper because it will only list the items not covered, making it the most comprehensive plan available. Typically those are regular maintenance items, oil changes, tires, batteries, insurance related issues, and things along those lines. If it does not mention a part that will not be covered, then it will be covered under the contract. Exclusionary contracts are usually offered to vehicles with less than 60,000 miles on the odometer.
Listed component contracts will list out the components covered for each of the systems included in the plan. The number of systems and parts are usually determined by the age and mileage of the vehicle. If a listed part breaks under this agreement, then the claim will be paid. These plans can still be very comprehensive and are an excellent option for a vehicle with over 60,000 miles on the odometer.
Why do CARFAX customers need an extended auto warranty?
No matter how well you or the previous owner of your car have cared for your automobile, there are certain parts of a vehicle that eventually will wear out. Since common mechanical repairs can cost into the thousands and these costs continue to rise, protecting your automotive investment is important. An extended warranty can save you a lot of money over the life of a used car.
Buying an extended auto warranty today will allow you to avoid paying higher rates later. Extended vehicle protection plans cost less the earlier you buy them because the price increases as your vehicle ages and accrues mileage.
Added benefits of a CARCHEX warranty include 24/7 roadside assistance, towing benefits, and rental car discounts. You are able to immediately take advantage of these benefits when you purchase an extended auto warranty from CARCHEX. Extended vehicle protection plans are customizable, allowing you to choose the repair location as well as pay with an affordable payment plan.