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Extended Warranty – What Is This About?

car-repairsDriving a car smoothly rests in the peace of mind of the driver. One such factor that affects upon is the uncertain nature of driving conditions that may turn into a disaster which can be inherent when anything goes wrong accidentally or deliberately. Another factor is that extensive use of the vehicle may deplete on wear and tear resulting on frequent repairs and replacements.

Bearing the potential outcomes mentioned above, various solutions are laid forward by car manufacturers with warranty claims and insurance agents with vehicle policies. It is not the buying cost of the vehicle that matters the most (just because it is a one-off obligation), but the maintaining cost (uncertain values), which incurs time to time.

It is a common fact that all new cars are provided ranging with an average of 3 to 5 years warranty period or 36000 to 50000 miles whichever occurs first. The numbers differ based on the manufacturer and the vehicle model. During this warranty period, the owner does not feel any pain in incurring service repairs as they are totally waived with manufacturer’s warranty. However, the probability of damages causing is very low as the cars will be in still good conditions when they tend to be new.

The wear and tear begins literally after three years or so when the expiry of said manufacturer’s warranty puts the bills at the owner’s risk. The severity of this burden depends based on how far the car has been depleted based on driving conditions and various other factors, hence the desperate need of extended auto warranty matters the most.

The definition of extended warranty is said to be a written understanding between the car owner and the warranty company, extracting a commitment from the warranty company to pay for the repairs covered by the agreement for a defined period of time. Since extended warranties cost extra and are sold separately, they fall into the groups of service contracts that are renewable. What matters here is, an extended warranty may be the real warranty the car will look upon to grasp its benefit which will eventually laid upon when the car requires more repairs. This is because, extended warranties usually cover a period where the cars will typically undergo into serious repairs, probably after three years.

Major services such as transmission repairs can cost $3000. Depending on timely availability of extended warranties will determine for the payment in full or just a small deductible. Auto warranties are more affordable as many third party providers are offering services, such as ‘Pay My Repairs’.

With an extended auto warranty the owner actually protects his vehicle in the event of sudden mechanical failure. The warranty covers repairs and maintenance over an agreed length of time such as emergency road services where the owner need not dread dead batteries and blown tyres. Towing services are also provided if necessary. Major repairs frequently result into costing an equal amount or sometimes exceeding the cost of warranty.

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By |2017-05-28T05:21:32-04:00January 11th, 2012|Auto Warranties|

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