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Extended warranties offer extra coverage that gives drivers peace of mind on the road. If you are looking to buy an extended car warranty, make sure you’re purchasing the right plan for your driving needs from a reputable provider. Consider our tips on buying an extended warranty—we’ll help you find quality vehicle protection at the best price.
If you have questions or want a price estimate on how much your extended auto warranty would cost, the vehicle protection specialists at CARCHEX are here to help. We’ll answer your questions and provide a quote. Call 866-261-3457 or fill out the form.
Asking yourself these five questions to see how an extended car warranty can save you money in the long-run:
1. Are you interested in selling your car at some point? The best plans offer excellent coverage after your factory warranty expires. If you think you might sell your car eventually, an extended warranty is an excellent way to increase your asking price. Transferable warranties allow you to pass this protection on to a new owner.
2. Do you have room in your budget to cover potentially major surprise expenses? With an extended car warranty, you are paying for peace of mind. You avoid the hazard of getting hit with a massive, unexpected repair bill. Instead, you can steadily keep car repair costs to a minimum with a low monthly payment.
3. What level of risk are you willing to assume? Unfortunately, no car is invincible. Eventually, your car will probably need a major repair. Some individuals with reliable cars are willing to risk it and pay out of pocket if (and when) their car breaks down. Others choose to pay into a safer option and purchase an extended car warranty. Take a moment to consider whether or not you can afford to pay the following repair costs out of pocket.
So, how do you know if you car is reliable? Check sources like J.D. Power, Consumer Reports, RepairPal, and Edmunds.com to see what you can expect from repairs and other ownership costs.
4. Do you know about car maintenance and repairs? If you’re not a car enthusiast, you may not know much about car parts, repairs, and the general costs of repairs and replacements. In fact, there are many tricks and scams that mechanics use to bring in a bigger profit, including inflating estimates or pretending to find additional issues that require maintenance. With an extended warranty, your repairs are negotiated and paid for by the provider. Therefore, you don’t have to second guess your mechanic’s price or diagnosis.
5. Do you drive a lot or do multiple family members drive the car? If the answer is “yes,” then an extended warranty can help keep your car going well after the manufacturer’s warranty expires. If you plan on using your car for more than five years or 100,000 miles, then find a vehicle service contract with longer terms. Look for plans that offer protection for high mileage or older cars. CARCHEX offers plans with terms up to 10 years or 150,000 miles.
Don’t trust mail or phone solicitations. Find a reputable company with many years of experience to help you.
In addition, avoid companies that pressure you into buying an extended car warranty, especially if it is the first option that you’ve seen. As a customer, you have the right to ask questions and negotiate prices before making a decision.
Dealerships are like the house in a casino game—the odds are stacked in their favor with warranties. A third-party auto warranty provider, on the other hand, builds its business to handle different types of cars and customers with different needs and budgets. They have more freedom to find the best price for you, and you will have fewer limitations on authorized repair facilities compared to dealership warranties.
A reputable extended warranty company will provide sample contracts online in order for you to see all covered and excluded items for yourself. Reading the contract will help you come up with the right questions to ask your service representative. It will also help you catch any hidden limitations or caveats to your coverage.
When you’re considering one of our contracts, a CARCHEX vehicle protection specialist will walk through the contract with you. That way, you understand exactly what is and isn’t covered.
Listen to what extended car warranty reviews have to say. If you spot a pattern of reviews that signal some red flags, then consider a different provider.
CARCHEX customers are some of the happiest customers overall. Here are several CARCHEX car extended warranty reviews from Trustpilot:
“We have been with CARCHEX a number of years and even recently renewed a contract. We had one mechanical repair where towing was also involved, and the whole payment for all that had to be done was handled quickly and efficiently. I would highly recommend CARCHEX for their competence, professionalism, friendliness, etc. to anyone wanting peace of mind for their vehicle(s).” – Shirley
“My agent was great. He was happy to review all pricing levels with me to arrive at a plan I was comfortable with. He explained the benefits of going with the higher end plans without making me feel like he was forcing me that way. I ended up going with Silver plans on two vehicles, and I would work with him again in a heartbeat. Thanks!” – John
CARCHEX has been reliable from the effective date of my plan. - Ian on Trustpilot”
Purchasing an extended car warranty should not be a stressful process—it should be quick and easy. The Federal Trade Commission cut out some of the guesswork for you by recommending you keep this list handy and consider these questions as you shop:
Below is a deeper look into several important factors to consider before you buy an extended car warranty:
The price of an extended car warranty depends on your car’s model (luxury cars bump up the price of the contract due to their more expensive parts), its mileage, and your deductible. If you buy an extended car warranty while your vehicle is still relatively young, you can get a better price for your coverage.
Most extended warranties require you to have regular maintenance or get a vehicle inspection. These requirements, especially for CPO vehicles, can be rigorous. Opt for an extended warranty company that does not require vehicle inspections.
Does the company still pay for a covered component if damage is caused by a non-covered part? Are parts covered in full, or do some items just have partial coverage? Determine what factors lead to exclusions of components that would otherwise be covered. If there are too many caveats, then it may be time to look at another provider.
If you are using a third-party broker, you should also look into the actual providers administering the contracts. Some third-party companies are the obligers or administrators of the claims. Others, like CARCHEX, are brokers that partner with multiple providers to offer the most competitive prices.
According to tips provided by the Better Business Bureau, the best extended warranties are backed by trusted administrators and underwriters. That way, if the warranty company goes under, you won’t lose any money.
Know who authorizes and pays off claims, as well as who you should call to report a claim. The easier the claim process, the less stress you’ll feel if you experience a mechanical breakdown.
Does the extended warranty company offer any optional coverage plans, such as tires or hybrid/electric vehicle coverage? What about peace of mind benefits, such as roadside assistance and towing reimbursement?
Find the most value by choosing an extended warranty that offers additional value for your money.
Some extended warranty plans can cost over $1,000. In order to make payments more manageable, opt for a company that offers a two-year, monthly payment plan. You can also negotiate prices and lower your costs by adjusting your deductible.
We have compiled a handy list of the top extended warranty providers based on the following criteria:
According to our research, the top six companies to consider when you are buying an extended car warranty are CARCHEX, Liberty Bell Auto Protect, Concord Auto Protect, Endurance, Protect My Car, and AutoAssure.
Currently, CARCHEX has the highest BBB rating among its competitors, which highlights its favorable extended car warranty reviews and quick customer service responses. CARCHEX is one of the few extended warranty companies accredited with the BBB, and plenty of reputable financial and car companies endorse CARCHEX coverage.
CARCHEX, the clear #1, aces the test because it offers many types of warranties at different price points to fit many types of cars in various stages of life.
As a third-party company, the experts at CARCHEX can stay focused on finding you what you want for your car at your price point. We boast an A+ customer service rating from the Better Business Bureau and rank among the top warranty companies. In fact, ThoroughlyReviewed gives us a perfect 10.0 score.
CARCHEX offers many plans and protection levels that match any budget. From Bronze to Titanium, we have the coverage that meets your needs. The chart below outlines the five levels of coverage available (note that we offer many protection plans within each level):
CARCHEX gives you the very best price for the most amount of coverage. There is a reason we’ve been around for more than 20 years: we offer excellent coverage at affordable prices. It’s as simple as that!
Buying your extended car warranty is fast and easy. Call the vehicle protection specialists at CARCHEX at 866-261-3457 to buy your extended car warranty today.
J.D. Power: https://www.jdpower.com/business/press-releases/2019-us-vehicle-dependability-studyvds
Federal Trade Commission: https://www.consumer.ftc.gov/articles/0252-warranties
Better Business Bureau: https://www.bbb.org/new-york-city/get-consumer-help/articles/tips-on-auto-service-contracts/
Real Car Tips: http://www.realcartips.com/warranties/160-how-to-negotiate-extended-warranty.shtml
Better Business Bureau: https://www.bbb.org/greater-maryland/business-reviews/extended-warranty-contract-service-companies/carchex-in-hunt-valley-md-23015869
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