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Extended Warranty

Extended Warranty

What are extended warranties? This type of warranty is an addition to your normal warranty. It is normally taken out on the repairs of your car. It is a contract between you and the car dealer, the manufacturer or the independent insurance company. Extended warranty can range from $80 to $800.

When going into an extended warranty, you will want to read the fine print of the extended warranty contract before signing. Make sure everything that has been discussed and agreed before hand is clearly shown on the contract.

Like every contract you go into, it is what is on paper that will be looked at when there is a dispute, not what the sales person told you. This is especially so for warranties,insurance etc.

An extended warranty invariably requires that you adhere to your service schedule on your vehicle. If possible keep a record of your routine maintenance services on your vehicle to show that your maintenance record is on schedule. This will stop any dispute arising when making any claim.

Extended warranties are not for lazy people who cannot adhere to vehicle their maintenance service schedule.

When going into an extended warranty, make sure to have all the listed parts of your vehicle included in the extended warranty contract. Any part not listed is not covered by the extended warranty even if it was discussed before the signing of the contract. Many parts will not be listed however. Be sure of the listed parts, and when you are satisfied before signing the contract.

How do you use your vehicle and what type of extended warranty will suit the way you use your vehicle. When choosing an extended warranty, time, mileage, services and components should be considered. If you are not going to keep your car for a long time and note driving your car for a long time. You should choose an extended warranty with low mileage and long period of time. And the reverse is the case when you are covering a long mileage during the period of ownership.

Preferably get an extended warranty from the manufacturer of the vehicle instead of a dealer. This enables you service of your warranty nation wide instead of at only the dealer where you got the warranty.

Extended warranty enables us to keep our vehicles in top condition. often you find that one major repair on your vehicle could be equivalent to the entire extended warranty contract itself. That is one good reason for taking an extended warranty. That is why it is difficult to find an extended warranty company providing service for vehicles with expensive parts, like Porche, Mercedes AMG etc.

Also getting an extended warranty on new car is always easy. Because the car is new and repairs on it will be minimal in the short run. However, getting one on an old vehicle is very expensive because of the repairs the vehicle is expected to under go in it's remaining lifetime .

There are extended warranty scams that you should be aware of. One type is when the dealer cancels the extended warranty contract without your knowledge and have the money refunded back to him or her.

An extended warranty is a big investment of time and money so always endeavour to go with a established company so that you are not buried in complexities. You are allowed to choose the repair parts, not much paper work and billing hassles.

Source: http://www.articlesbase.com/finance-articles/extended-warranty-555515.html

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