Car Warranty Coverage

The pro's and con's of purchasing a Car Warranty.

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Auto Warranty

An Auto Warranty is provided free of charge by most auto makers when purchasing a new car.

When purchasing a used car, Auto Warranties must often be purchased as an "ad-on" or extra option.  Now that vehicles last so much longer than they used to in the past, it is not always necessary or even financial advisable to purchase a warranty unless you suspect the vehicle you are buying has a history of expensive repairs.

When looking at used cars, I always add the cost of the Auto Warranty into the purchase price and then compare it to the original cost of the vehicle to decide if the car is worth buying at all.  For dependable cars like Hondas and Toyotas, the cost of the warranty is usually not worth the price, but luxury cars like Infinity, Mercedes and Lexus, the cost of the warranty can be recouped by the 1st time you need it.

Buying a warranty is very similar to buying car insurance.  The price you pay is partially determined by the number of repairs the issuing company expects to have to pay out, plus their profit margin.

If you hate paying for car repairs, and need to know the exact cost of owning a car, the extra price of a warranty is a good idea, but if you plan on doing some of the auto maintenance yourself and are handy with tools, a warranty may be just another expense.

Avoid web sites that are built around Auto Warranty information just for the purpose of sell you a warranty as the4se are just affiliates trying to make a quick buck.  The best way to research and buy an auto warranty is to purchase one directly from the place that is selling you the car (and use this added cost as a negotiating tool to reduce the car's sale price) or contact the issuing Auto Warranty company DIRECTLY by phone and ask them to send you all the details by mail including exclusions to the policy.  This way you have everything in writing and don't pay inflated fees that the company has to pass on to you to pay an affiliate.

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