You are purchasing a car from a dealership. It is likely a decent-looking model. But you have suddenly reached a crossroads. You may think the salesperson is being a bit overly friendly as he introduces you to “extended warranties”. You are now wondering like a man with two cats: Is the extended warranty a security net or a way to drain your wallet? Start here.
Firstly, let’s get the facts straight. These extended warranties are similar to insurance. They should provide comfort for you when the vehicle’s standard warranty expires. Some warranties cover parts and components of your car that could deplete your savings in a blink. But, are you sure that you need one?
The search for reviews on an extended vehicle warranty is like searching in a haystack looking for a single needle. Everyone has an opinion. Some declare that they are the archenemy to saving. Others sing praises as loud as a dawn rooster. This is how one user described his experience: “I had thought I’d won the lottery. The user said: “I took the warranty. I was invincible. Three months later, my transmission went bad. Warranty did not cover this. Imagine my surprise!”
It’s the sneaky little print again! The fine print can be as small as an ant’s paw. It will tell you what is covered, and most importantly what is not. Transmission, engine and gadgets are all mixed together. To some, their countless definitions might seem similar to deciphering a scroll.
Some folks, however, swear they have hit the gold. Over coffee, a friend of mine said to me: “Had the warranty not been taken, I’d probably have emptied out my piggy bank two times over.” Her car threw tantrums at the mechanic with each one. Those repair costs? Covered.
Aside from the fine print shenanigans, the claim processes can be tiresome. Bureaucracy dominates the claims process. It’s possible to get caught up in phone battles with agents rotating calls like a hot potato. One friend described his situation: “My whimpering car was worse than a ghost on Halloween last year.” The warranty company decided that they would drag their feet as much as a sleepy child, it took me over three weeks to return to square one.
While reading reviews, take into account the car’s current state and future plans. If you like to switch cars every couple of years, long term deals could be as valuable as mittens when it’s hot. If you are a loyalist who is stuck to your jalopy like a monkey to a eucalyptus bush, then you might be able to rest easier knowing that the warranty will remain glued to your fridge.
You should also consider local shops for repairs. Warranties may guide you towards a preferred mechanic network. However, you should always have backup options available in the event that your chosen mechanics do not perform as expected.
Verify your experience, and then dive in to reviews. Chat with other car enthusiasts. And most importantly: trust your inner-gears. There is no one right answer. Somewhere between the ecstatic accolades and fiery tantrums, there’s a course of action that fits you.