So you purchased a shiny, brand new..used car. A great purchase by all means, as many times you get the best bang for the buck purchasing a used or certified pre-owned vehicle. Upon completion of your used vehicle, there a a few more things you need to take into consideration that you normally would not when you purchase a brand new model from the dealer. One big consideration is to look into extended service plans for used cars.
Extended Service Plans For Used Cars
When you purchase a new vehicle, the vehicle usually comes with a manufacturers warranty that covers against any repairs for the first few years of the car. In most cases, you receive bumper to bumper coverage up to either 3 years and 36,000 miles or 4 years and 48,000 miles. You may think that, hey most of the time when I had a new vehicle I did not need the coverage. Well with a brad new vehicle, the likelihood of a major repair during the first couple years of the ownership are pretty null in comparison to older model vehicles. When you purchase a used car, you go in under the assumption that the factory coverage is most likely up, and there is no warranty coverage left on the vehicle. It is at that point where looking into purchasing Extended Service Plans For Used Cars is a good idea.
What Do Extended Service Plans For Used Cars Do For My Vehicle?
An extended service plan, commonly known as a vehicle service contract, or an extended automobile warranty well extended coverage against mechanical breakdowns for a set agreed upon time and mileage limit from the time of the purchase of the contract. This will cover your vehicle against repairs such as your engine, transmission, drive axles, water pump, catalytic converter, electrical components, power steering, radiator, in addition to many more items. Like an extended warranty, if a component fails, you bring the vehicle to a certified repair shop, who then diagnoses the repairs needed to the vehicle. The next step is contacting the administrator of the policy. The mechanic will explain the items needed to be fixed, the labor rate they charge the customer, and confirm the customer is enrolled underneath the contract with the claims department. The claims representative would then approve or deny the repair based upon the information the received from the repair technician.
Most extended service plans for used cars do not just stop at additional repair coverage. There are many other so called bells and whistles that come are included into the coverage. An example of this is Towing and Roadside Assistance. Many plans include a 24/7 toll-free Roadside Assistance phone number customers, or even a reimbursement option, where the driver can receive compensation for a much needed tow to a repair facility. Plans also at times include car rental options, where you can receive money towards a rental vehicle while your car is being repaired, Key Lockout Coverage, and Tire Repair Coverage. Warranty Warehouse, located in Howell, NJ, even has a benefit if you breakdown over 100 miles from home, you are eligible for Meals & Lodging Reimbursement. Some of these extra benefits even rival Triple A!
What Kind Of Coverage Can I Expect?
That type of extended service plan for your used vehicle is completely up to you and your vehicles needs. For instance, if you just complete your factory coverage, and your vehicle is 5 years old or younger, and has under 75,000 miles, you can reasonably expect to purchase a full component coverage plan that will last you for up to an additional 7 years or up to 100,000 miles of coverage.
Now say your car is a little bit older, but you don’t put as much wear and tear on your car. If your vehicle is 10 years old or younger, and has less than 80,000 miles, a company like Warranty Warehouse will extend your component coverage for a set time and mileage period, such as an extra 3 years or 36,000 miles, or in some cases, 4 years or 48,000 miles.
And if you well surpass those milestones? You are still in luck. There are options where you can cover your vehicle if it is up to 20 years old and 200,000 miles. Coverage on major items such as the Powertrain, which covers items such as the Engine, Transmission, Water Pump, among others, are available. This option can extended your coverage out an additional 5 years or up to an additional 100,000 miles.
I’ve Decided To Extend My Coverage. What Should I Do My Homework On?
Claims. Claims. Claims. Claims are the keyword, as the main thing you should look for is a company that will have a hassle-free way of processing your claim. Check out customer reviews, as they are the best indicator of how a company operates. Length of business is also a good indicator, as you will see many extended warranty providers have come and go over time.
Many providers like to harp on having the lowest cost. Getting the lowest price is great, until it is time to pay for the repairs. If your transmission goes out, that can cost upwards of $4000, which in most cases is more than any cost of an extended service plan on a used car. You want to go with a company you know what will pay that.
How Do I Get An Extended Service Plan?
After you do your research, get a few options from different companies. Once place you can get a Free, No-Risk Quote is over at Warranty Warehouse. Getting a Quote locks you into the best options, lets you talk to a specialist, and leads you on the right path to getting your vehicle protected.