Extended Warranties

Dealerships make a lot of money selling extended auto warranties. They will make as much as they can on you, up to $3,000! An extended warranty is an insurance policy you can purchase for your vehicle that will safeguard you against expensive unforeseen repairs. They are a great value if it fits your situation and you do not pay too much.

An extended auto warranty may be purchased at the time you buy your vehicle or it's also possible to purchase one months or years later. If you're the type who likes to be prepared for all eventualities, an extended auto warranty may be just what you're looking for. Bearing in mind the ever-increasing cost of vehicle repairs, these service contracts can make a lot of sense.

An extended auto warranty may be backed by an independent warranty company, also referred to as an "aftermarket warranties" or by the covered vehicle's manufacturer. Knowing who will be underwriting your policy can give you insight into the strengths and weaknesses of the contract you're considering. Manufacturer-backed warranties score very highly when it comes to ease of use. However, aftermarket warranties are often cheaper.

• Is the warranty transferable?
• Can repairs be performed at any repair shop?
• What coverage should I get?
• What about deductibles?
• What if I never use it?

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