Whether you are buying a new car or thinking about additional coverage for your current vehicle, you may benefit from the cost-saving potential of an extended vehicle warranty. As you shop around for some extra repair protection, here are a few things you should know about an extended warranty cost.
What Is an Extended Warranty?
Extended car warranties offered by manufacturers provide protection for certain repairs to your engine, A/C, transmission, or electrical systems. However, coverage from your extended warranty does not become effective until after your factory warranty expires.
Vehicle protection plans (VPPs) are also an option for drivers. These are comparable to extended warranties by providing similar auto repair coverage after your vehicle’s manufacturer warranty expires. However, unlike an extended warranty, they are sold by a third-party rather than a manufacturer or dealership.
Vehicle owners opt for an extended warranty or VPP to get added protection from vehicle breakdowns. A VPP is an excellent option if you:
- Are a new driver
- Live in a densely populated area
- Commute long distances for work
- Purchase a used car that lacks a factory warranty
- Drive a car with an expired warranty
If any of the above describes your current driving situation, perhaps it is time to start looking for a VPP.
What Factors Affect the Extended Warranty Cost?
When a provider calculates quotes for a vehicle warranty or VPP, they consider the following:
- Your Vehicle Type: The make, model, year, and mileage of your vehicle can affect the cost.
- Coverage Level: Providers typically offer different degrees of repair coverage. The price increases as the warranty becomes more comprehensive.
- Provider Type: Third-party providers and vehicle manufacturers offer varying prices for their protection plans.
When comparing the extended warranty cost between companies, you should consider the following:
- Total price
- Payment installments
- Down payment
- Annual deductibles
- Annual cost breakdown
While these factors help you compare costs, the main factor to examine is the repair coverage that each protection plan offers.
What Benefits Can You Enjoy by Paying the Extended Warranty Cost?
When you sign up for an extended vehicle warranty or VPP, you protect yourself from the financial burden of unexpected car repairs or wear and tear. Benefits of a VPP or extended warranty include:
- Cheaper Car Repairs: You are only responsible for paying your deductible and anything not covered by your plan.
- Additional Perks: Plans can include roadside assistance, rental car payment, and towing reimbursement.
- Reliable Workmanship: Reputable VPP companies partner only with highly rated ASE-certified mechanics.
Note that car repairs can range from a few hundred dollars to more than $10,000. A VPP can be the financial buffer you need to repair your vehicle without wiping your bank account. Compared to the value your peace of mind offers, an extended warranty cost is spare change.
Where Can You Find a Reliable Vehicle Protection Plan?
At autopom!, we offer VPPs that meet your budget and protect your vehicle. Do not worry about a high extended warranty cost. We aim to shield you from the stress of an untimely car repair. Contact our dedicated team for quotes on vehicle protection plans that fit your lifestyle.