Talk to a CARCHEX auto warranty specialist to see if you should buy an extended warranty and get your free, customized quote.866-261-3457
If you’re asking yourself if you should buy an extended car warranty, you’re not alone. Many drivers have a hard time knowing when they should purchase coverage for their cars and if the investment will be worth it.
The experts at CARCHEX will walk you through the benefits of an extended warranty and help you craft the perfect plan for your specific coverage and pricing needs. To receive a quote from us, call 866-261-3457 or fill out the online form.
Are you in a position to drop a lot of cash on a single repair? A recent study from CarMD showed that the cost for a car repair continues to rise with a 6.5% increase from 2017 to 2018. The average check engine light repair cost is now $380 because of the increase in both labor and part costs. Here are some of the most common vehicle repairs and their costs:
|Ignition coil replacement||$218|
|Oxygen sensor replacement||$244|
|Mass air flow sensor replacement||$340|
|Fuel injector replacement||$450|
Though new cars hold up better than aging ones, all car owners will encounter that costly, unexpected repair bill at some point. An extended warranty can help offset those costs.
Here are other factors to think about as you consider buying an extended warranty:
What does an extended warranty cost? There’s no set price for an extended warranty because it depends on a variety of factors, including:
A rough estimate for what a dealership plan would cost is $1,000 to $1,500. But a plan with a third-party provider like CARCHEX will be cheaper. For you luxury car owners, consider CARCHEX’s price for an Infiniti. For 2007-2014 models, the average monthly cost is $89 a month.* For you economy car owners, let’s look at Toyota. 2007-2014 Toyotas cost about $56 per month to protect.*
Simply think about the kind of person you are. Not a fan of surprises? If you like the peace of mind that comes with knowing that you’re covered when something unexpected happens, then buying an extended warranty is worth the money.
Protecting your car is important. That’s why it’s smart to do some homework before buying an extended warranty.
Keep these things in mind:
Choosing the right time to purchase an extended warranty may save you money down the road. An extended warranty begins after the bumper-to-bumper manufacturer warranty expires. You can decide to purchase an extended warranty the day you buy the car. You also have the option to hold off until later, but it’s important to know that the price usually increases if you wait until your original warranty expires. We recommend buying an extended warranty right before your factory warranty expires so that you don’t have a gap in your coverage.
New vehicles come with a factory warranty that provides bumper-to-bumper and powertrain coverage for a few years. But once that warranty expires, you’re responsible for covering any repairs that may arise. This becomes especially important when considering the high-tech components being used in new cars. These components are going to be more expensive to diagnose and repair than your typical squeaky brakes. An extended warranty will help you cover that cost.
After making such a large purchase on a new car, you don’t expect to be buying another car anytime soon, so you’ll want to make sure this one holds up. An extended warranty is there to make sure your car lasts as long as you need it to before you’re ready to purchase another one.
A recent survey by IHS Markit found the average car on the road in the U.S. is 11.8 years old. As vehicles age and gain more miles, their risk for major repairs increases. Here is what your car may run into as it ages:
|Squeaking/grinding brakes||Brake pad replacement||$263–$294|
|Moisture buildup||Heater core replacement||$758–$975|
|Failing radiator||Radiator replacement||$605–$795|
|Difficulty starting car||Spark plug replacement||$190–$255|
|Bouncing car||Shock and strut replacement||$549–$618|
As you can see, owning a used car can be expensive. If more than one of these problems were to occur in one year, you would be paying more out of pocket for the repairs than it would cost for you to buy an extended warranty up front.
If you’re ready to buy an extended car warranty, here are a few tips to help you navigate the process:
Still not sure if you should buy an extended warranty? Luckily, the vehicle protection specialists at CARCHEX are here to help.
Our industry-leading extended Vehicle Protection Plans are affordable, flexible, and offered in five different coverage levels: Titanium, Platinum, Gold, Silver, and Bronze.
All of our extended warranties include these additional benefits:
Not sure which plan is right for you? Our auto warranty and insurance experts at CARCHEX are here to help you make the best decision for your unique needs. We pledge Customer Experience Above All when you look to us for an extended warranty.
Knowing who you can trust will help you answer the question, “Should I buy an extended warranty?” Speaking to knowledgeable representatives from a reputable company can show you how much money you can save with an extended warranty.
CARCHEX has an A+ rating from the Better Business Bureau (BBB) and a long list of endorsements from industry leaders, such as CARFAX, RepairPal, and SiriusXM. CARCHEX uses a consultative approach to offer you the best pricing and a variety of protection plans to suit your needs for your new, used, or certified pre-owned vehicle.
Should a repair arise, we make it easy for you to manage. You get to choose a repair shop that you know and trust. We also handle the paperwork and payment directly with the shop so that you don’t have to cover the cost and wait for a reimbursement.
At the end of the day, if you’re still not happy with your plan, you can contact us within 30 days for a refund.**
Better Business Bureau: https://www.bbb.org/greater-maryland/business-reviews/extended-warranty-contract-service-companies/carchex-in-hunt-valley-md-23015869
IHS Markit: https://news.ihsmarkit.com/prviewer/release_only/slug/automotive-average-age-cars-and-light-trucks-us-rises-again-2019-118-years-ihs-markit-
Consumer Reports: https://www.consumerreports.org/car-maintenance/car-repair-red-flags-older-vehicles/
*Figure accurate as of May 2017. Average monthly coverage cost is based on the average total price of the Vehicle Protection Plan over a four year coverage period. Actual monthly payments will vary per plan’s payment policy. Individual pricing is subject to change based on the combination of make, model, year, and mileage as well as coverage level and term length.
**Refund methods vary by state. See extended service plan for complete details, including refunds, exclusions and limitations.
CARCHEX is endorsed and trusted by these industry leaders and more.
Fiat factory warranties are typically short lived, leaving owners unprotected against future vehicle repair and replacement costs. The vehicle protection specialists at CARCHEX can help you learn more about the most common Fiat issues, what is included in a basic Fiat…Read Full Article
A drivetrain warranty and a powertrain warranty are often thought of as the same thing by many drivers. However, there are subtle differences between the two that are extremely important to note when thinking about purchasing an extended warranty. Learn…Read Full Article
With so many car warranty options on the market, selecting the best auto warranty can seem overwhelming. But there are a few features that separate a great warranty provider from the rest. See how CARCHEX beats the competition to bring you the best auto warranty available.Why Choose a CARCHEX…Read Full Article
Do you know what to look for when buying a warranty for your car? The experts on all things auto warranties and insurance can help. CARCHEX is here to help you understand your different warranty options, what's covered, and how to…Read Full Article
Buying a used car warranty from a reputable company can bring you peace of mind and save you from an unexpected bill from the repair shop. Before making a decision make sure to do your research. Read on for tips to select…Read Full Article
We'll help you find the best protection for your car at the most affordable price. Learn what questions to ask, as well as the right coverage to look for, when shopping for an extended warranty. Keep reading for tips on…Read Full Article
A used car extended warranty is a great way to keep your car on the road longer and provide peace of mind should an expensive and unexpected repair cost come up. Read on to learn more about what's covered in…Read Full Article
The decision to buy an extended auto warranty is the hard part. Next, you want to make sure you are working with the right company and getting the right coverage for your car. Read on to learn how to choose…Read Full Article
What is a powertrain warranty? A powertrain warranty covers those parts of your vehicle that can be the most expensive to replace—the engine, transmission, drive shaft, and axle. With a powertrain warranty, you have the satisfaction of knowing that should one…Read Full Article