The best automobile warranty companies offer coverage that can help you avoid high repair costs, while also reducing your reliance on dealerships. These companies also have a good reputation for service and transparency.
What Is an Automobile Warranty?
An extended car warranty protects a vehicle's engine and major systems against breakdowns. These warranties are generally sold by third-party providers, though some manufacturers also offer them. These policies typically cover your vehicle's factory-installed parts and can be used to pay for repairs from a repair shop of your choice.
How Much Does an Extended Warranty Cost?
The price of an extended car warranty will depend on the plan you select, the age of your vehicle and the provider you choose. A company's formula will factor in these factors to determine the cost of a warranty.
Manufacturers like Nissan, Acura and Volkswagen all offer extended warranties that extend the length of the standard bumper-to-bumper warranty by a year. Some also offer additional benefits, such as roadside assistance and rental car reimbursement.
Some of the most popular and reputable automobile extended warranty companies include Endurance, ForeverCar, Olive, CarShield and CARCHEX. They are all rated well by the Better Business Bureau, have excellent customer reviews and provide high-quality service.
What is the best automobile factory warranty?
Some automakers, such as Toyota and Honda, offer a manufacturer's warranty that covers hundreds of components. The warranty may be referred to as a bumper-to-bumper or exclusionary contract, which protects almost all mechanical and electrical parts between the front and rear bumpers, aside from a list of exclusions.
Other automakers, such as Mercedes-Benz and Lexus, offer bumper-to-bumper warranties that protect a vehicle's engine and major systems. These warranties usually cover your car for six years or 70,000 miles, depending on the model.
These warranties typically cover your vehicle's factory-installed components and can be used to pay for repairs from your choice of a dealer or a repair shop.
Choosing the Right Extended Warranty for You
An extended car warranty can help make your car repair expenses more predictable, which makes it more likely you'll be able to afford repairs. Some companies have added features to their warranties that allow you to schedule maintenance appointments and pay for oil changes without leaving your home or office.
What are the pros and cons of buying an extended warranty?
There are many benefits to an extended warranty. If you're a driver who plans to keep your vehicle for a long time, it's an excellent way to protect your investment.
The average price of an extended car warranty is roughly $3,000. It will depend on the type of coverage, your vehicle's age and the provider you choose.
The best automobile warranty is the one that's right for you, so it's important to do your research and compare several companies before deciding on the plan that's right for you. This will ensure you get a plan that meets your needs and doesn't break the bank.
