Car Extended Warranty - Consider These Tips When Buying An Extended Car Warranty
Car Extended Warranty Article
Consider These Tips When Buying An Extended Car Warranty
What should you really consider when purchasing a new car? Judging by the conversations of many would-be car buyers, the make, model, and color of a prospective new vehicle are among the first thoughts in a buyer's mind, followed closely by issues of performance (transmission type and horsepower) and available vehicle features (for example, leather seats versus cloth, standard locks versus power) and even the purchase of a car extended warranty.However, as worthy (and oftentimes fun) as these car purchase issues are to ponder, there are other things that are more significant and weigh in more heavily. What are those issues? Let's start with a car extended warranty.
The purpose and function of a car extended warranty, of course, is quite clear. It acts as a good faith statement from a seller to a buyer that a quality car has been sold. But what is a "better" car warranty? And what makes a warranty better than another? In all cases, the most common reason will be the warranty length (i.e. the longer the better). Many vehicles come with at least a three year 36,000 mile warranty, with an option to purchase a car extended warranty. But since the cost of extending a warranty can be great it may make more sense to buy a car with a bigger warranty. And a few automakers may offer a ten year 100,000 mile warranty bumper to bumper. Now we're talking value.
Another car buying issue that is of equal importance is the residual value of a car after it's purchase. As everyone knows, as soon as a car leaves a buyer's lot, it loses a portion of its
value. For this reason, it is really a good idea to research the make and model of a vehicle you are thinking of getting. This will provide information on it's current value retention, as well as information on how it's been holding up in the past years. After all, you aren't going to feel too great about that beautiful new set of wheels if it takes higher than the average 15% "hit" after it has been driven off the lot.
Finally, here's a thought for leasers. Make sure when you lease a vehicle that you check for mileage limitations. On average, these are 12-15 thousand miles per year with a price per mile penalty for anything in excess of that. The kicker is a lot of these penalties are large and can add up to thousands of dollars when turning in your vehicle. Also make sure you purchase the available extended warranty to cover your lease term; that way you aren't paying repair bills for a car that you don't even actually own.
Selecting a automobile that has the look and feel you want will go a long way toward guaranteeing that you stay pleased with your purchase. But doing a little research into your prospective new car's resale value and warranty coverage may go even further toward retaining satisfaction in the car you end up buying.
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