Bill McCandless Ford

Call 800-242-2420 Directions
«

Should you buy an extended warranty on your new or used vehicle?

Feb 17, 2024

Deciding whether to purchase an extended warranty for a new or used vehicle involves considering various factors. Many individuals opt for extended warranties due to the following reasons:

  1. Peace of Mind and Long-Term Cost Savings: Extended warranties offer an extra layer of coverage, providing peace of mind and potentially saving money in the long run by mitigating unexpected repair costs.
  2. Complexity of Modern Vehicles: Advanced technologies and complex components in modern vehicles can result in expensive repairs. Extended warranties help cover these costs, making them particularly appealing for technologically advanced cars.
  3. Transferable Coverage and Customizable Options: Some extended warranties are transferable, enhancing the resale value of the vehicle. Additionally, customizable coverage options allow tailoring the warranty to specific needs, providing flexibility.
  4. Lock in Today’s Rates: Purchasing an extended warranty at the time of vehicle acquisition may lock in current rates, potentially offering savings compared to buying a warranty later when the original warranty has expired.

However, before deciding on an extended warranty, it’s crucial to consider the following factors:

  1. Cost vs. Benefit Analysis: Evaluate the cost of the extended warranty against potential savings on future repairs. Consider your vehicle’s reliability, the likelihood of major issues, and your budget.
  2. Manufacturer Reputation: Check the reputation of the warranty provider, especially if it is a third-party company. Some may have limitations or exclusions that affect coverage.
  3. Existing Coverage: Assess the coverage provided by the manufacturer’s warranty. If it is comprehensive and meets your needs, an extended warranty might be unnecessary initially.

In summary, the decision to purchase an extended warranty is personal and should be based on an informed assessment of individual circumstances, budget considerations, and risk tolerance. Reading and understanding the terms and conditions of the warranty is essential in making a

Posted in Uncategorized | No Comments »

Connect with us

Although every reasonable effort has been made to ensure the accuracy of the information contained on this site, absolute accuracy cannot be guaranteed. This site, and all information and materials appearing on it, are presented to the user "as is" without warranty of any kind, either express or implied. All vehicles are subject to prior sale. Price does not include applicable tax, title, and license charges. ‡Vehicles shown at different locations are not currently in our inventory (Not in Stock) but can be made available to you at our location within a reasonable date from the time of your request, not to exceed one week.

Although every reasonable effort has been made to ensure the accuracy of the information contained on this site, absolute accuracy cannot be guaranteed. This site, and all information and materials appearing on it, are presented to the user "as is" without warranty of any kind, either express or implied. All vehicles are subject to prior sale. Price excludes records preparation fee of $175 and dealer fee of $394. ‡Vehicles shown at different locations are not currently in our inventory (Not in Stock) but can be made available to you at our location within a reasonable date from the time of your request, not to exceed one week.