Have you ever looked at a “extended warranty” offer and thought, “Is this really worth my money, or am I just giving someone else money?” You’re not the only one. A lot of automobile owners have been in the same situation soon after their warranty runs out: they put their hands on their heads and thought about whether or not to spend more for peace of mind. See more
In general, car warranties make big claims. But in the end, every coverage tale has those unanticipated turns, like when a technician says, “Sorry, not covered.” That’s the problem: not every repair is covered by your contract, even if it states it is. People that want their finances to be predictable will get the most out of extended warranties. But be careful: it’s easy to get the wrong idea about what a policy covers.
You’ll find a lot of reviews that show both good and bad sides. Some drivers high-five their warranty and say that one huge repair charge made the whole thing worth it. A broken transmission, an engine light that comes on for no reason, and all of a sudden the warranty “pays for itself.” On the other hand, some people complain about refused claims, long waits, complex loopholes, and the all-too-common “normal wear and tear” argument to avoid huge compensation.
I once met a guy in a service waiting area who said that his steaming cup of coffee saved his road trip. Not glamorous, but very true. A few weeks later, another friend spent hours on the phone just attempting to have a new alternator covered. The bill came, but the fine print didn’t include the warranty.
But it’s not all bad news. Some businesses really do what they say they will do. But the paperwork is the most important thing. You have a lot greater chance of success if you are the type of person who sets reminders for oil changes and can pull out maintenance records from the depths of your glove box. When it’s time to submit a claim, that stack of receipts is worth its weight in gold. If you think of oil changes as just tips, though, you might be out of luck.
Prices go up and down all the time. One plan might want a big payment up front, while another would want to bill you every month, like your favorite streaming service. They both have varied lists of what’s included, and some come with extras like rental cars and roadside assistance to make them more appealing. A lot of complaints are about missing fine print, so don’t neglect that. When someone says “bumper to bumper,” they can really imply “anything but what you think.”
You should read reviews, but you should also read between the lines. Pay close attention to true stories concerning claims that were denied. Be aware of patterns in customer service, surprise charges, or strange exclusions. One piece of advise that is becoming more popular is to talk to both a dealership and an independent source. Some drivers swear by products endorsed by dealers because they think the staff really do stay to the contract. Some people love independent providers who work hard to give them flexible options, especially for older rides with personality (and mileage).
In the end, it’s just like buying an umbrella. You might stay dry in a rainstorm, or you might only get a light rain and wonder if you really needed one. Don’t just throw the warranty pitch in the “junk mail” basket without thinking about it. You might be glad you did on a rainy day.