- Routine maintenance (e.g. oil changes)
- Wear and tear items
- Damage caused by weather or acts of nature
- Regular replacements (e.g. tires, wiper blades, or brake pads)
A car’s extended warranty is a great asset for drivers who plan to own their vehicles longer than a few years. They’re also a good buy for anyone who has a car notorious for needing repairs.
Read on to find out how to narrow down the many plans and providers and find the perfect coverage for your car and needs. CARCHEX has affordable, flexible coverage options that work for almost any vehicle.
Let’s start with the working definition:
When you purchase a new car, you will get a manufacturer’s warranty included in the price of the purchase. Under the manufacturer’s warranty, specific repairs are covered for a certain number of years or miles. Once this warranty expires, your car is no longer protected.
If you plan to keep your new vehicle for a long time, and your manufacturer’s warranty only lasts a few years or less than 50,000 miles, then an extended warranty is worth the extra financing to pick up where the factory warranty leaves off.
Research the common repairs you should expect with your new car’s model and choose the appropriate amount of coverage for your vehicle.
A new transmission could cost almost $4,000 in some vehicles. This is a hefty bill to foot, especially all at once. However, the right vehicle service contract or extended warranty can cover this type of repair for thousands less. Would you rather pay $4,000 out-of-pocket for a repair or $1,500 for a service contract? With monthly payments and low deductibles, you could save on costly replacements.
Extended warranties can come with many levels of coverage. In order to gauge the level of coverage offered, you need to know the two most common coverage plans.
A powertrain extended warranty covers repairs for the most essential systems in your vehicle:
These systems are also typically the most expensive to repair, and many factory warranties will cover the powertrain for more years and miles than their basic limited warranty.
A bumper-to-bumper extended warranty is sometimes known as an exclusionary plan because it lists only items that are not covered. It may cover hundreds of your car’s components. These plans cost more money, but they could save you money in the following areas:
A new or pre-owned vehicle will need maintenance after many years and miles on the road, but an extended warranty is not meant for routine repairs. Your service contract is meant to cover faulty items that fail despite proper care.
Typically, the warranty provider will offer a variety of coverage plans from basic to top-notch, with a corresponding range of prices.
For example, an extended car warranty with the heaviest coverage available might give you bumper-to-bumper coverage at a price higher than a warranty with less.
Consider that if you choose to buy an extended car warranty from a dealer, many will add that into your car’s monthly payment—which means that you could be paying interest on your warranty. Because third-party providers bill separately, you won’t accrue interest.
Generally, you will find more competitive prices with a third-party provider. You will also pay more for luxury vehicles, and the model and year of your car can also influence the price.
Expect to pay several hundred dollars for a service contract, as well as a deductible between $100 to $200 for each repair. The amount can be paid in smaller monthly payments for your convenience.
CARCHEX offers affordable payment plans to our customers. For example, an extended auto warranty for a 2014 Toyota costs an average of just $56 per month. That’s under $700 for the year. If your car needs a $1,200 repair, then the price is easily justified. What’s more, we offer service contracts that have $0 deductible.
Given the moving parts you face when shopping for your car warranty, it certainly helps if you can trust your provider. CARCHEX has maintained the trust of the car warranty industry for more than 20 years. We hold an A+ rating from the Better Business Bureau and consistently rank at the top of the industry.
CARCHEX Extended Vehicle Protection Plans are available in several coverage levels with multiple plan options under each tier. All of our plans are backed by trusted providers. Here are our five levels of coverage:
Our services don’t end at repairs. We’re just getting started. As a CARCHEX customer, you’ll also receive:
There are many third-party, extended auto warranty providers, but they don’t all provide the same customer satisfaction. See how CARCHEX ranks among its competitors.
|Years in Business||BBB Rating||BBB Accreditation||Sells Insured Plans||
Partnerships and Endorsements
|CARCHEX||21||A+||Yes||Yes||CARFAX, SiriusXM, RepairPal, DMV.org, CarAdvise, AutoBlog, Zubie, Kelley Blue Book, Edmunds.com, and many more|
|Endurance||14||C+||No||Yes||Katie Osborne, Courtney Hanson, Vehicle Protection Association|
|Protect My Car||14||Not Rated||No||Yes||ACVPP, Contact Center Compliance, DataOne Software|
|AutoAssure||9||B||No||No||Vehicle Protection Association, D&B Verified|
Updated May 2020.
When it comes to car extended warranties, CARCHEX customer service representatives can help you decipher the jargon, the options, and the prices of any extended warranty for you car. Finding an online quote is fast, free, and easy. You can also call CARCHEX at 866-261-3457 to speak to a vehicle protection specialist today.
Better Business Bureau: https://www.bbb.org/greater-maryland/business-reviews/extended-warranty-cotract-service-companies/carchex-in-hunt-valley-md-23015869
Thoroughly Reviewed: https://thoroughlyreviewed.com/car-warranty/carchex-reviews/
These partners trust and endorse CARCHEX.
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