Posts Tagged ‘warranty’
Friday, September 3rd, 2010
Having to pay for automobile maintenance work may become pricey. The good thing is that often you could have your vehicle maintenance work costs included within your automobile warranty. This runs specifically true for new vehicles but you can also have it for used cars as well.
The cost of maintenance for the engine, engine block, transmission, clutch system, axles and such can become very expensive. If your vehicle includes a drive train or power train warranty on it, these car maintenance costs can be significantly decreased or fully settled for by the warranty. This can save you money over time.
Most automobile warranty companies provide wear and tear car warranty for brand new automobiles and some small level of protection for used cars and trucks. Using the wear and tear auto warranty, you can have items that aren’t covered on the drive train, power train or standard warranty repaired. For instance, should you have power windows for your vehicle. The regular warranties won’t include the car maintenance expenses to have the broken motor changed. On the other hand, if you have the wear and tear automobile warranty, you may get the motor for the power window repaired for less because you just cover the deductible.
It is very frustrating to have a flat tire at any place, not to mention on a chaotic road. For those who have roadside support then the service cost for repairing the flat tire or perhaps changing the tire completely will probably be considerably reduced than without having any type of roadside warranty coverage.
A bumper-to-bumper auto warranty can also save you cash on car service requirements. While many people think that bumper-to-bumper implies the entire vehicle is protected, this is a false impression. Almost all of the automobile repairs problems are going to be included but issues that come from wear and tear are not usually covered. The drive train or power train warranty only includes a percentage of the automobile components. Adding a bumper-to-bumper auto warranty will assist to greatly reduce car maintenance charges for additional parts of the auto.
Maintaining your automobile by the automobile warranty requirements is the simplest way to avoid high car maintenance fees. If an automobile is adequately looked after, there is certainly a lesser amount of over-all wear and tear on the automobile which in turn leads to fewer vehicle repair issues. It is important to remember to check the transmission fluid, oil filter, engine oil levels and air pressure in the tires. Likewise, you will have to have the oil replaced regularly. This makes your car not only operate more smoothly but will cut down on the over all vehicle maintenance expenses for the auto be it second-hand or completely new.
Some people argue that the cost of sustaining a vehicle is costly. After all, you’ve got to replace the engine oil, switch the engine oil filter and stuff such as that. However, operating the vehicle without the maintenance can end up messing up things including the engine, the transmission as well as the clutch system. They’re extremely costly fixes that most warranties of any sort won’t cover since the essential upkeep had not been done.
Don’t get caught paying huge fees for minor car problems. An extended used car warranty is the key. View more informative posts at our site, plus get a free extended used car warranty quote.
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Tags: auto insurance, auto warranty, automotive, business, Car Insurance, car warranty, cars, finance, money, save money, vehicle, warranty
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Saturday, August 28th, 2010
Extended warranties are an option to extend the service which car dealers present to buyers. However, most car buyers are not well informed and do not even know if they need one. Extended warranty policies can not only be expensive, they can be disappointing if you find out that they do not cover what you thought they did. The costs do vary depending on the policy and the length of time. And, knowing the rules is vital when filing a claim.
Should you purchase or not? The first step when purchasing a vehicle is to decide whether you need the extended warranty plan or not. Many people purchase the extended warranty without knowing enough about what they are choosing and end up losing money. This is simply because they do not understand the coverage that it offers. Another mistake that people often make is that they think the extended warranty plan must be bought from the dealer where the car was purchased. This is not the case, but, car buyers are often led to believe this because the car dealer themselves convince them this is the truth.
Determine whether the extended warranty pays for the diagnosis. Unfortunately, many times the extended warranty that people purchase does not include diagnostic testing. Which in cases, like a problem with the speedometer, is necessary. Suppose you take your car to the provider for a simple speedometer problem and the diagnostic test ends up costing you hundreds of dollars. The repair itself may only cost a few dollars. But because of the high cost of the testing, the bill ends up costing hundreds of dollars. This is one area that when purchasing an extended warranty the buyer should be sure to make sure is included.
What’s the Deductible? Extended warranties, unlike car insurance, typically work the same way. Car insurance deductibles can save you a tremendous amount of money. For example you have a plan that has a $100 deductible that costs you $2000. You would expect to pay $100 as a deductible , so you would expect to pay around $1000. You may find that that is not the case at all and you need to actually pay $2100.
Verify if it is a “Captured Warranty”. Basically, a captured warranty is a plan sponsored by the vehicle manufacturer by the company that has special pricing arrangement with some vehicle sellers. It can be a bit difficult with a captured plan because you cannot choose a service provider of your own. If you get poor service from the service provider, you have no option to transfer to another service provider. Captured plan is not really good for you, only the company can benefit from it.
The first thing to do is to find a website where you can get a free quote on an extended car warranty. You can find some great deals on these vehicle extended warranties here.
Tags: auto, auto warranty, car, Car Insurance, car warranty, extended car warranty, Home, insurance, policy, vehicle warranty, warranty
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Friday, August 27th, 2010
Because extended auto warranties are often misunderstood, they open the doors to all kinds of unscrupulous businesses. To make sure that you do not fall victim to such scams, it helps to understand more about what extended warranties entail. In that way, you can know that the extended warranty that you purchase is a sure deal.
Familiarize Yourself with the Terms of an Extended Warranty
The first way to protect yourself against potential scams is to become more informed about extended warranties. An extended warranted is not a duplicate warranty that only comes into effect after the auto manufacturer’s warranty expires; instead, it is an extension of the original warranty. The purpose of an extended warranty is to protect you against the expense of costly repairs. Typically, the more costly repairs are needed after the manufacturer’s warranty expires. It is therefore important that the extended warranty you get is a comprehensive policy. You don’t want the surprise of submitting a claim only to have them reject it on a technicality.
Research the Different Extended Warranty Options Available
When looking into extended warranties, take the time to research the different options available. A good way is to ask friends and colleagues what companies they use. In this way, you can get objective feedback on companies that are reputable or companies that you should avoid. Another good way to research the reputability of the extended warranty company is to read online reviews. The Web is a great resource for getting objective customer feedback.
Get Online Quotes to Compare with Dealership Offers
While you are online, you can also compare the different offers made and find out who is offering the best deal. What you may find is often that online companies offer more competitive rates than dealerships. This is valuable information you can use to negotiate a better warranty if you do want to go through a dealership.
Read the Fine Print
Before signing off on any extended warranty agreements, make sure you are familiar with what is covered and what is not. Also make sure that the start date of the policy is clear so there are no gaps between when the manufacturer’s warranty expires and the extended warranty kicks in. A good policy will include roadside assistance and even minor repairs. Also make sure that the warranty company will pay directly for the repairs. Policies that ask you pay out first and then get reimbursed defeat the purpose of having the warranty in the first place. The reason you want the warranty is so that maintenance costs are covered without you having to dip into your pocket.
Make Sure you Have a Comprehensive Extended Warranty
Most extended warranties are made up of two different components. One is mechanical breakdown which is when you will find yourself stuck on the side of the road. The other is general wear and tear which inevitably happens over time. Moving parts in the vehicle need to be replaced from time to time, and this generally forms part of your regular service check. Make sure that whatever policy you choose has both of these components. Without the wear and tear coverage, you may end up not having a properly serviced car and could end up having it break down. At the same time, having a policy that provides you with roadside assistance for a mechanical breakdown is essential.
Avoid Companies that Process Claims Through Reimbursements
Many less-than-reputable companies like to make promises that they have no intention of keeping. Often, they will state that you first need to pay for the cost of repairs and then ask you to submit the claim saying that they will reimburse you. The problem with these companies is that too often they find a reason not to pay the claim and you never recoup your costs. A reputable company will pay the licensed mechanic or repair shop directly. After all, that is what you are paying a monthly premium for.
Be Careful of Email Offers
Frequently, scammers use emails to entice customers to purchase their policies. They often offer low-priced warranties and promise guarantees that they seldom fulfill. Be wary of offers that sound too good to be true; they probably are. If you purchase one of these types of extended warranties, chances are that either they’ll reject your claim or be out of business a few months down the line. Then you will be left without a warranty with expensive repairs to take care of.
Endurance Warranty.com has been helping car owners save money and gain peace of mind for almost twenty years. You won’t find a more affordable or more comprehensive group of extended auto warranty plans anywhere. Nor will you find more knowledgeable or friendly staff to help you find the warranty for you. Visit online today.
Tags: auto, auto warranty, Car Insurance, extended warranty, finance, insurance, warranty
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Thursday, August 26th, 2010
Many people question the real value of having an extended warranty on their car. They often underestimate the cost of vehicle repairs and think that the manufacturer’s warranty is more than adequate. Unfortunately, this is not always the case. The sad reality is that motor vehicles are incredibly complicated. With all the moving parts and environmental factors, the only guarantee is that you car will need repairs at some stage. If you unsure as to whether an extended warranty is really worth your while, here are some factors to keep in mind.
Manufacturers Know the Limitations of the Vehicle. Do You?
It doesn’t take a rocket scientist to figure out that there is a reason why manufacturers and car dealers only provide a limited guarantee. Manufacturers know the effect that general use has on the vehicle and that over time wear and tear will occur, even if you are diligent about looking after your car. Most often, expensive repairs are needed after the manufacturer’s warranty expires. For this reason, an extended warranty can be very valuable.
Can You Afford the Cost of Repairs and Maintenance if You Don’t Have a warranty?
Motor vehicles need to be serviced regularly to ensure they are in good running order. Sometimes these services can be routine and relatively inexpensive. At other times, services can involve major repairs which can get pricey. If you have a savings account with money set aside for such eventualities, perhaps you will not benefit from an extended warranty. But the reality is that if you have a savings account, the chances are that you would far rather spend the money on a vacation or purchasing something special for yourself. Spending savings on repairs can be very demoralizing.
What Sort of Mileage Do You Put on Your Car?
If you only use your vehicle occasionally, the chances are that there will be less wear and tear on your car. If it is securely parked in a garage, then it is less exposed to various environmental elements. If, on the other hand, you spend a lot of time of the road and clock up a lot of mileage, chances are that your vehicle will need a service and repairs more often. In that case, it makes sense to take out an extended warranty.
How Expensive Are Services and Replacement Parts for Your Car?
Often, the replacement parts for luxury and imported cars are very expensive. If you do not have an extended warranty and the manufacturer’s warranty lapses, you may find yourself in for a nasty surprise. Repairs could run into the thousands of dollars and if you don’t have the cash readily available, you could be without a car for some time. When purchasing a car and considering an extended warranty, this is an important factor to keep in mind.
Can You Afford to Be Without Your Car?
Consider how your life would be affected if you didn’t have a car for several weeks. Most people would find traveling by public transportation frustrating, when they are used to having their own mode of transport. Think about this; if you don’t have an extended warranty and your car breaks down, can you afford to be without it while you save up for the repairs?
Do You Need Roadside Assistance?
If your car breaks down on the side of the road, are you confident enough in your ability to be able to handle the situation? Perhaps you can change a tire but what if it is something more complicated than that? Most extended warranties will offer roadside assistance which includes towing if they can’t get your vehicle going again. This can be a very valuable benefit.
How Long Do You Plan to Keep Your Car?
Some people only purchase and drive relatively new cars. Once the car is paid off or the warranty expires, they usually trade in their car for a newer model. Even if this is the case, keep in mind that an extended warranty can increase the resale value of your car. A buyer who know there is a maintenance plan will be more willing to pay your asking price.
When Is the Best Time to Purchase Your Extended Warranty?
Most people think that they only need to purchase an extended warranty when their manufacturer’s warranty expires. This is because it is often perceived that an extended warranty is an additional insurance policy. In reality, an extended warranty is as the name implies. It is an extension on your existing warranty. Because of this you will benefit from more affordable rates if you purchase your warranty earlier rather than later. Warranties that have already expired or are about to expire will be more expensive than warranties that still have a year or two on them.
Endurance Warranty.com has been helping car owners save money and gain peace of mind for almost twenty years. You won’t find a more affordable or more comprehensive group of extended car warranty plans anywhere. Nor will you find more knowledgeable or friendly staff to help you find the warranty for you. Visit online today.
Tags: auto, auto warranty, Car Insurance, extended warranty, finance, insurance, warranty
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Tuesday, August 17th, 2010
Back in the old days when there used to be a Soviet Union, some strange things would happen from time to time with defectors who escaped to the U.S. They would actually get paralyzed in grocery stores, unable to make decisions about which of several hundred cereals they would buy. For some people who never had much choice beyond buying or not buying whatever was on the shelf that day, this much choice and that many options brought them to a halt.
If you are shopping for a new or used car, and want to add an extended warranty, you should immediately wonder about a car dealer or warranty firm that seems to have just one policy rather than a selection. It could be a matter of the dealer trying to sell a preferred (and high-profit) plan, or it really could be that the third-party firm you are dealing with is not quite as experienced or full-service as it claims. The fact is, you should be able to select from among a range of different extended warranties, from different providers. It does not matter if a car dealer does not help you with this, since nothing says you have to buy the warranty when you buy the car.
Various types
All of the reputable extended warranty firms offer a wide range of plans to cover new and used vehicles of all types (including boats). The bumper-to-bumper plans are normally quite popular, and are backed by both auto manufacturers and companies that have been in business for some years. It is not necessarily true that younger firms are questionable, but longevity in an industry that has had problems with some unreliable operators is a good sign. As always, check out every aspect of the firm (and read the whole warranty policy).
The bumper-to-bumper plans are not always quite as inclusive as the names imply, so if you really want coverage of (alphabetically) the air conditioner, brakes, cooling system, drive axle, engine, fuel system, seals/gaskets, supercharger, steering, suspension, transfer case, transmission and turbocharger, you need to make sure what you want is listed. Full-service and full-coverage plans can also include reimbursement for roadside and during-repair expenses (towing, rental car, etc.).
Soup to nuts (or not)
In addition to towing and car rental coverage, you can get plans that cover changing flat tires, giving your battery a jump, delivering emergency fuel or other fluids, attempting to open your locked vehicle and other services. Although there is not much that extended warranty firms have not heard of and covered, it is also possible to negotiate specific services, especially when you are dealing directly with a third-party warranty firm and not a dealer network or car manufacturer.
Conversely, there are also simpler plans, all the way down to what you (not they) might call bare bones coverage. The most common of these is the drive train coverage plan, which covers the engine, transmission and one or two other major, named systems. The last sentence ends on a very important term (named systems), as you need to remember that nothing will be covered that is not expressly stated in the written service contract. This should go without saying, but this is something that should not be overlooked. Again, if a salesperson told you that you are covered for unicorn damage, but it is not in the written agreement, then you really do not have unicorn coverage.
Bottom line
As with any other major purchase, you need to do some research, ask some questions, get advice from experts if you need it and take care with your decision. You have to make a rough calculation of cost benefits, and there are some handy calculators online that help you develop cost figures for car maintenance and repairs. If you want to retain your car past the manufacturer warranty period, and have good information on the repair record of the particular make and model, you should be able to arrive at a good approximation of the value of the coverage.
Finally, do not succumb to pressure tactics by salespeople. There is no law that says you have to buy the warranty when you buy the car, or says you have to buy it from a dealer or any other certain place. You are in the driver’s seat, so make sure you stay in control of the purchase of both the car and any additional warranty coverage you decide you need.
Whether you have a car, truck, SUV, or van we can find the best possible extended auto warranty for your money. Do not let your limited warranty expire without shopping for continued coverage first. Visit 5starwarranty.com online today for more information.
Tags: auto, auto warranty, business, Car Insurance, extended auto warranty, finance, insurance, warranty
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Sunday, August 15th, 2010
The consumer protection movement really took off in the 1960s and 1970s, when state governments (and the federal, too) began creating agencies charged with fighting scammers and ripoff artists operating in the marketplace. The public took to this new attitude wholeheartedly, and local and network news programs began hiring consumer advocates who would take on scofflaw firms on behalf of individuals and the public at large. The result is a very high awareness in American society of the rights of consumers and the proper operation of businesses.
The Internet has not changed, but amplified the situation. Today there is such an avalanche of information that it can be difficult to know what is true and what is not. This has made the job of consumer advocates even more involved, in government and media as well as in private firms doing “consumer reports” in print and on the Web. It is particularly important for consumers to take time and exercise caution with the purchases that loom largest in our lives, namely, houses (the most expensive thing most people will ever buy) and vehicles (the second-most costly for most folks).
How to tell good from bad
There are some general rules of both business and human behavior that come into play in all kinds of interactions, particularly economic ones. The basic common sense that you would use to determine truth or falsehood also apply when you are researching the companies behind the car warranties that you are being offered as you shop for your new ride. The first thing to remember, of course, is not to hurry. You do not just go out and buy the first car you like and add the first warranty you are offered. In fact, you have to leave enough time to research the dealers, the cars and the warranties that you may decide to buy.
When looking for a good car dealer, you start, of course, with referrals, and then branch out to newspaper ads, the Web and window-shopping. As you start making a list of possible purchases, note also the names of the dealers and start checking them out with the Better Business Bureau (BBB) and online complaint sites. Then you need to check out each specific car you like, with Carfax or another reporting service. Finally, after you have sat down with a salesperson, you should request copies of any extended warranties that are on offer (and if you cannot get one, take your business elsewhere).
Then do it all again
When you have a complete list (dealers, specific cars, warranty provider names) you can return to your first step, research, and plug in what you’ve learned. When it comes to the dealer and the car, you use your own good sense as well as that of a mechanic friend or hireling. When it comes down to rating the extended warranty firms, that will take a bit more digging, but it is worth it. Remember, too, that it is absolutely in the interests of reputable warranty companies for you to do this. The car warranty industry, like any other, has had its share of miscreants, and is quite serious about driving the fly-by-night firms out of town (better yet, out of business).
What do you look for? For one thing, transparency. Just as you should beware of dealers who will not show you a Carfax report or give you a copy of an extended warranty, you should avoid warranty firms that will not answer questions on the phone or send you more information. In addition, you will check the company names with the BBB, consumer reporting sites, government oversight agencies and, of course, the handy-dandy Internet. All you have to do is enter the name of the company followed by the word complaints, and you should get all kinds of information, especially on the questionable firms that get the vast majority of consumer complaints.
Bottom line
Again, it really is in the best interests of reputable extended warranty firms for you to take the time to check them out. Do not let the salesperson at any dealership, new or used, tell you that you can only buy one particular warranty package. The fact is, you can buy your extended warranty from any company that you like. This will be a result of the research you do, as well as your own good sense and the solid advice of more experienced auto and insurance people. In fact, your insurance agent can also be a good resource for you, so run the facts and figures by your agent if they have experience in the area.
Bottom line? Do not just use your head. Use the heads and experience of all kinds of folks who know more about it than you do. Although it takes a little time, you will be glad you did when you save 30-40% over the dealer’s offer with a solid, dependable third-party warranty firm.
Whether you have a car, truck, SUV, or van we can find the best possible extended auto warranty for your money. Do not let your limited warranty expire without shopping for continued coverage first. Visit 5starwarranty.com online today for more information.
Tags: auto, auto warranty, business, Car Insurance, extended auto warranty, finance, insurance, warranty
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Wednesday, July 14th, 2010
There is an incredible variety of extended auto warranties out there, and a lot of sales spiels that can skirt the truth a bit. The main thing to remember about extended vehicle warranties is that they are like any other product, in that there are the good, the bad and the ugly. If you want to get a handle on the ins and outs of car warranties, it is helpful to take a look at some of the major myths and misunderstandings surrounding them.
When you know enough to be able to separate the good ones from the bad and ugly variety, you can be more confident shopping for your extended coverage. You will know enough to make a good decision. That is why you should start with this article, find and read a few more, go over the main points of all of them and then go see what type of deal you can make. Let us take a look, then, at these myths and misunderstandings.
- You have to buy your extended warranty from the dealer who sold you the car.
You have many choices, and dealers are but one source for an extended warranty. Remember that dealerships are under sales and commission pressures that may cloud the sales personnel’s judgment or lead them to be something less than completely truthful. No matter what sources you consider, decide what reliable and affordable coverage is in your unique situation, and shop for those features and benefits at the fairest price.
- Every extended auto warranty is like any other, so just buy the cheapest one.
This is so far from reality it is not even wrong! There are a limitless number of kinds and types of auto coverage packages, and some will always be better than others. The only way to be sure about what you are getting is the review the actual contract, as well as the company offering it. If the salesperson will not show you the written warranty, that is about the biggest red flag you could see. Go elsewhere.
- Whatever the salesperson says, that’s what is in the warranty. They cannot lie about it.
Salespersons can always choose to be deceitful, and there is no way you should rely on what you are told. Read the contract. If a salesperson is cagey about letting you read the warranty, it may be because there are other red flags in it. There are certain phrases and terms you should watch out for:
- At the sole discretion of the Administrator
- Used or recycled parts
- Autos have to be maintained according to the manufacturer’s severe-environment requirements (which doubles your maintenance tabs)
- A gradual decrease in operational performance is not covered
- You do not need an extended warranty until the manufacturer warranty ends.
You are not buying double coverage. You are extending coverage. The fact is, the newer your auto, the lower your rates, so you are essentially choosing to lock in costs now while they are lower and defending against future increases. With the imputed savings you can even enjoy additional features now, like some form of roadside assistance or travel insurance, until your extended plan takes effect.
- You have to buy the extended warranty at purchase time to get any special dealer financing.
The one has absolutely nothing to do with the other. Your ability to qualify for dealer financing and other sales terms is dependent on the price of the auto, your down payment or trade-in, your credit score and other factors. Adding more to the bottom line is hardly the way to increase your chances of impressing the finance manager if you do not have all your other ducks in a row. Your car buying decision, your financing choices and your extended warranty coverage are all separate issues, although they have something in common (you).
- Mechanical breakdown warranties offer the same coverage as the wear and tear kind.
Covering wear and tear is the sign of a good warranty, as wear and tear plans provide a greater level of protection. Some extended warranties will define mechanical breakdowns as being due to defective parts or workmanship, whereas wear and tear means you are covered for failures due to normal aging and usage. The older the vehicle, the more crucial these terms become in your decision.
- An extended auto warranty means never having to worry about your auto.
Do not mistake an extended warranty for magic! You still have to maintain your car, provide proper routine care and drive in a manner that will keep your vehicle in good shape. If you take care of your car as the owner’s manual suggests, you should be in good shape for the life of the auto.
There are some ins and outs of car warranties, certainly, but nothing that a little reading, research and shopping around won’t clear up for you. Remember, you are buying what is essentially insurance, so make sure you understand exactly what is in the policy, what is covered, what is not and how it all works when you need to make a claim. Do these things and you should have smooth sailing!
Endurance Warranty.com has been helping car owners save money and gain peace of mind for almost twenty years. You won’t find a more affordable or more comprehensive group of extended car warranty plans anywhere. Nor will you find more knowledgeable or friendly staff to help you find the warranty for you. Visit online today.
Tags: auto, auto warranty, Car Insurance, finance, insurance, warranty
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Tuesday, July 13th, 2010
After a house, the biggest purchase you typically will make in your life will be your cars or trucks. This purchase decision has many facets to it, too. You have to choose make and model, of course, but that is only the beginning. Color, year and options like fancy rims, sun- and moon-roofs, navigation system and so forth all come into consideration when you are choosing the vehicle you want. Then there is that famous last question from the salesperson or finance manager as you take pen in hand to sign on the dotted line – something like, Do you want an extended auto warranty?
Yes? No? Maybe? Do you really know? The time to figure this out is not when you are in the dealership with pen in hand, but ahead of time when you can give it thoughtful consideration, so take a moment now and find out how to make that decision.
Typical warranties
Auto manufacturers offer extended warranties themselves, although not every car maker underwrites and manages its own policies. If you are buying a new car in most dealerships, the seller will be ready, willing and able to extend the normal warranty for an additional period of time (and/or number of miles). The price will range from a few hundred to several thousand dollars, from entry-level packages that cover the standard power train of engine and transmission to premium plans that add the air conditioning, suspension, audio components and nearly everything else.
You can also buy a third-party policy, one that is not affiliated with the maker or seller of the car, at both the time of purchase and any time after that. These are generally the same as manufacturer plans, except you may find more flexibility in assembling a customized package that truly meets your needs and fits your budget. If you travel on business at times and cannot do without rental car reimbursement and towing if you have a breakdown, you can make sure to get that particular coverage when choosing your plan.
Similarities among plans
Whether you buy an extended warranty at the time of purchase or later, and from a carmaker’s dealership or a separate third-party firm, there are certain things you will always find. One is a deductible. In addition to buying the extended coverage, you will typically have a deductible to pay, although there are some new cars that come with no-deductible extended warranties. The point is, you will pay for the coverage one way or another, either as part of the car’s (higher) price or as an add-on.
Of course, you can choose plans with lower or higher deductibles, which affect the plan price as they do with accident coverage policies. You can pay top dollar for the plan and have no deductible at all, pay a bit more for a $50 deductible, or pay less and get a $100 deductible (about average) or even higher. You are also able to buy extended warranties on both new and used cars, trucks and vans, although the age of the vehicle may be restricted to a certain number of years and/or miles. Some warranty firms may exclude particularly rare or exotic autos.
Now, about that need
You have a basic understanding of the warranty, but the question remains – how do you know you need that extended warranty? The research you did on the car you bought (you did do research, right?) should have given you an idea of how it fares on repairs, weathers your Minnesota winters or Arizona summers, survives impacts and stands up to your own unique kind of use. This must factor in heavily, of course. However, do you need an extended warranty on your car if it has a 10-year/100,000-mile plan from a maker like Hyundai? Isn’t that coverage enough?
Actually, the Hyundai plan, like the new GM warranties (5-year/100,000-mile), only covers the major powertrain parts. That leaves a lot uncovered, and does not begin to take care of towing, rental cars, travel reimbursement and many other things that even the basic third-party extended warranties offer. In addition, manufacturer packages typically control the process in the important ways, namely, telling you what repair shop you will use (the dealership about 90% of the time), the parts you will get, the timetable for the work and so forth. Get in an accident when covered by one of these plans and you are out of the driver’s seat in more ways than one. It is the third-party specialty firms that are in the business of putting you back behind the wheel and in control of your car.
Your own personal formula
You need to look at the whole picture. If you have a manufacturer warranty now, or are buying a car that will have one, then you need to know what it covers so you can plan more precisely what you need to add in the way of additional (extended) coverage. If you are buying new, you might consider the prepaid scheduled maintenance plans now being offered by many carmakers.
So, do you need an extended warranty on your car? Many, many people do, and they cannot buy one if they wait until they need it. Neither can you. You should be rigorously honest with yourself about your own vehicular history, driving style and proneness to accidents or mishaps. You also need to understand what you are paying for and why.
Taken together, all these factors will result in your own personal formula for making this decision. Never answer a car salesperson with an automatic “yes” to this question. Rather, learn enough to say, “This is what I need…” – and then set about making your best deal for your true needs, as long as you get the right answers to your good questions.
Whether you have a car, truck, SUV, or van we can find the best possible extended car warranty for your money. Do not let your limited warranty expire without shopping for continued coverage first. Visit 5starwarranty.com online today for more information.
Tags: auto, auto warranty, business, Car Insurance, finance, insurance, warranty
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Sunday, July 11th, 2010
When you start doing your research in anticipation of buying extended vehicle coverage, you have to dig a bit deeper than just a single, broad explanation of legal terms and such. The fact is, the extended auto warranties in your state may be regulated and controlled in ways quite different than in a neighboring state. If you only have time to read one article (you have to leave in five minutes and the subject just came up), then it should at least be one that covers the specifics for your home state. Auto insurance is not yet on anyone’s short list for nationalization, so there will not be one-size-fits-all federal oversight of these warranties, at least not very soon.
A growing number of states require that companies selling vehicle protection products (like theft deterrents) and services (like extended warranties) have to be registered with state authorities. Some states oversee these through their insurance commissioners, others through their consumer protection agencies and still others with a combination of agencies. This, again, differs both among states and over time, as there have been some wide-ranging changes to how state governments deal with insurance and insurance-related businesses. On the other hand, some states have determined that extended vehicle warranties are not insurance, but pre-paid service plans. Whatever they are called in your state, you need to find out how they are regulated and how best to compare their offers.
Basic consumer protection
Even when the extended warranty is considered insurance (which is less and less often), all of the other consumer protection regulations in your state will still apply to the company selling it. That is, you already have the protection of fraud and false advertising laws, so regulators do not need to write additional rules about these issues. Your state government is primarily concerned with ensuring that the firm can pay its claims, so the company may be required to provide financial data, maintain a certain net worth, post a bond and otherwise establish their bona fides.
In addition to disclosing pertinent information about the firm’s assets and operations, the warranty companies may also have to show their various warranty contracts to the state regulators. This step will guarantee that the warranties sold in your state contain the provisions, definitions, terms and information as determined and legislated by your state lawmakers. Typically, the firms that pass scrutiny will be listed with the state’s Attorney General and/or consumer affairs agency. These lists are often available on the state agency Web sites.
All over the nation
Some states that have taken the foregoing approach, to greater or lesser degrees, are Ohio, Texas, Georgia, Tennessee, Michigan, Missouri, Alabama, Maryland, Oregon, Massachusetts, New Jersey, California, Minnesota, Mississippi and Florida. Although registration requirements definitely vary from state to state, you can expect that companies listed by the consumer agency or attorney general have been deemed trustworthy. You will also be given information as to what that means in your particular state, from any security bonds required to the financial status of the warranty firms. In addition, you will get help with the often-confusing vocabulary used by both lawmakers and extended warranty companies, since similar terms may be defined quite differently by the various states.
Terms and types
There are some terms, however, that mean pretty the same thing in Arizona as they do in Alaska, and they are the ones that describe the different warranty types. Extended warranties differ greatly among these categories, and you need to know what is what if you are to make an informed buying decision. In most every state, a range of warranty types can be purchased (or offered with vehicles at the point of sale), but the main three are bumper-to-bumper, component and powertrain contracts.
Bumper-to-bumper coverage: These warranties are sometimes known as new car warranties, wrap programs or exclusionary policies, and are the most comprehensive policies that you can purchase. The exclusionary term is used because these vehicle policies cover so many parts that it is easier to list items that are specifically excluded than all the ones that are included. Bumper-to-bumper policies often include such niceties as roadside assistance, reimbursement for travel interruptions, wear and tear, audio equipment coverage and seals/gaskets. No warranty covers every single component of your vehicle. You should review each prospective plan in detail so you know the exact coverage.
Component coverage: These contracts are often referred to as inclusionary policies, as they are extended warranties covering most major parts on your vehicle. Per the name, the policies list only the components covered by the warranty. If the component is listed, it is covered, and the plan can also offer other benefits and options.
Powertrain coverage: This is similar to catastrophic health insurance, in that these warranties cover your vehicle’s major powertrain parts. This means transmission, engine, drive shaft and drive axles. It is often possible to extend coverage to include other parts and components. A powertrain warranty covers the major expenses, and is a good value for high-mileage vehicles.
Before you buy, read every word of the policies you are considering, no matter how long it takes. If you find it tough going, get some help (but not from the salesperson). Make sure you understand extended auto warranties in your state, and find out what the procedure is if you run into a problem with the warranty provider. If you do your due diligence and get the right information for where you live, you will find it much easier to understand, compare and buy what you need.
Whether you have a car, truck, SUV, or van we can find the best possible extended auto warranty for your money. Do not let your limited warranty expire without shopping for continued coverage first. Visit 5starwarranty.com online today for more information.
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Sunday, July 11th, 2010
There are a lot of commercials, radio spots and print ads touting the bumper-to-bumper and 100,000-mile warranties of this car, that car and the other one, too. So many of them talk about this that some people might think that’s what all car warranties are like, and that they will get some kind of eternal coverage with no exclusions, no deductibles and no fine print. Perhaps some unscrupulous businesspeople want to deceive people with those kinds of falsehoods, and sell them effectively worthless policies, but they are a distinct and dishonorable minority in an industry that provides an important service to millions of vehicle owners.
When you get to the point where you will be buying a new or used vehicle, one of your considerations will be the manufacturer warranty. There may be warranty miles left on a used car, and a new one might be covered for 100,000 miles, but you still have to do enough research to know if you need to add some additional, extended coverage. This means knowing the repair record of the make and model you want, finding out specific facts about specific cars (with Carfax, for example) and then factoring in your own driving habits, the size and scope of various dealer networks, the weather where you live and other things. There really is quite a bit to think about.
Talking the talk
You will definitely need to familiarize yourself with the terminology and concepts used in car warranties generally, so that you are properly prepared before you sit down with salespersons and finance managers at car lots. In fact, even if you are just buying an extended warranty for your present car from a third-party company, you still need to bone up on the details. Before you can choose a warranty you will have to read a few of them, too, and you should not be reading your very first one under the impatient eye of a salesperson. Take the contracts home if you must, but you will speed the process if you start learning about warranties before shopping around.
There are two main considerations for you, before anything else. You need to know what is covered, and what is not. There is no standard bumper-to-bumper plan without any exclusions or conditions, and some of the more problematic ones (and least popular) have tons of red tape in their claim procedures. You need to know the difference between the various warranty types, just as you need to know the special regulations governing warranties in your home state. There are federal laws about these, too, but you need to know how your state handles matters so that you can be in the driver’s seat, so to speak.
Special attention required
Your goal, of course, is choosing your car warranty in such as way as to fit your budget, your car and your needs, in all the ways that this suggests. Education is the key, and you will need to invest some time and effort to ensure that you make the best choice. Naturally, you have state consumer agencies, the insurance commissioners and the basic fraud laws of your state on your side, so you need to get familiar with those things, too. Another thing you will want to do is to use your growing knowledge base to thin down the list of potential warranty providers (and/or cars whose manufacturer warranties you like) before you start driving around to shop for the car and/or the policy, or both at once. Remember, there is no law that requires you to buy your extended warranty from a dealer, and if the dealership employees realize that you are an informed consumer (especially one with other places to go if they do not do right by you), your bargaining stance is definitely strengthened.
Bottom line
What you do before, during and after you buy an extended warranty, or a car with a new or used warranty, is also very important. If you keep your vehicle properly maintained you will avoid many costly repairs. In fact, some very simple things (oil changes, correct tire pressure, clean filters, the right octane rating on the gas) loom large in the health of your vehicle. Make sure you know what the warranty requires of you, as there are typically expectations written into the coverage that deal with scheduled maintenance, wear and tear (which you may or not be covered for) and other vehicle usage.
Take this cautious, even studious, approach to car warranties, and you have a much better chance of choosing your car warranty in such a way as to provide your car the coverage it needs, and give you the peace of mind a dependable vehicle provides. That’s a win-win purchase that most people would love to make!
Endurance Warranty.com has been helping car owners save money and gain peace of mind for almost twenty years. You won’t find a more affordable or more comprehensive group of extended car warranty plans anywhere. Nor will you find more knowledgeable or friendly staff to help you find the warranty for you. Visit online today.
Tags: auto, auto warranty, Car Insurance, finance, insurance, warranty
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