Should You Buy an Extended Warranty on Your Vehicle?

These days people are keeping their vehicles longer than ever making extended car warranties and auto repair service plans enticing.   Most of them are a total waste of your time and money.

Car dealers may be trying to sell you a vehicle service plan, not a true warranty.  The Federal Trade Commission says that a warranty is included in the purchase price of a vehicle, while a vehicle service contract is not.  The typical selling price on an auto repair service plan is up to $3,000.  And for that money you are supposed to have the peace of mind to use the service plan for repairs when your car breaks down.  The contract for that supposedly “bumper to bumper” coverage has so many loopholes that it is almost impossible to get any repairs covered.

Think about your extended car warranties like this:

• If you can afford the cost of potential car repairs, you should never buy an extended warranty.
• If you can’t afford the cost of potential car repairs, then consider buying the vehicle manufacturer’s warranty if it gives you peace of mind.
• NEVER buy an extended warranty from a third party. Stick the manufacturer’s warranty only.

If you follow your maintenance schedule of the vehicle you have, you’re most likely extending the life of your vehicle exponentially!   If you are looking at purchasing a used vehicle, make an appointment at Joe’s Slinger Service to have a pre-purchase inspection done.  We look at several important parts of your vehicle to report to you any issues we see.