There are so many compelling reasons to purchase an extended warranty for your car, from great value for money to cost savings and the benefits of boosting resale value. This service plan will kick into effect when the manufacturer’s warranty ends and cover the costs of major repairs and replacements.
And when it comes to choosing the best Volvo extended warranty, or an extended warranty for any other vehicle brand, we’ve listed some valuable tips.
Select Your Level Of Cover
Just like with auto insurance, the first step to finding the best policy is selecting your level of cover. On the topic of car insurance, you’ll need to choose between basic and comprehensive cover, while you’ll need to decide which components are covered with an extended warranty plan.
The extended warranty will cover the costs of repairs and replacements due to wear and tear on parts. And the different levels of cover will dictate which parts are covered.
Browse the coverage options available and choose a plan that suits your needs. You’ll be able to select from a drivetrain warranty that covers the vehicle’s transmission, drive shaft, and drive axle. Moreover, a powertrain warranty will cover all of the components in your vehicle’s engine. You can also opt for a bumper-to-bumper and exclusionary warranty that covers everything with the exclusion of certain parts specified in the warranty contract.
Read Consumer Reviews
Once you know which level of cover suits your needs, you can start reading through consumer reviews. This vital action will give you the best indication of how service contracts might differ from one warranty company to the next.
It’s wise to read reviews from consumers in the same area as you who drive a similar vehicle model. Moreover, it’s also smart to choose from a list of the best car warranty companies and then evaluate reviews accordingly.
Gather Multiple Quotes For Comparison
The cost of the service contract shouldn’t be the deciding factor because some cheaper warranties might not offer great value for money. However, price is still an essential factor.
Because the costs of these service contracts aren’t typically posted online with reviews, you’ll need to gather quotes to determine how much you should budget for and choose the average contract cost for your vehicle model.
With this, it’s essential to remember that some warranties might seem somewhat expensive. Although, these costs are minimal compared to the costs of major vehicle services and repairs.
Read The Fine Print Thoroughly
Lastly, you’ll need to read the fine print on warranty contracts thoroughly, or else you won’t have clarity on what you are covered for.
Extended warranties are not precisely the same as manufacturer warranties, so it’s crucial to read the fine print and understand how your contract works.
Now that you’ve compared all your options, you can choose the policy that best suits your coverage needs and your budget.
Purchasing an extended warranty for your vehicle is a wise decision whether you’re driving a new or used car. When the manufacturer’s warranty wears off, major repairs and services costs can be astronomical, even for pocket-friendly car models.