Tips on Getting a Used Auto Extended Warranty

For those who don’t have the luxury of purchasing new cars, you need to think about purchasing a used auto extended warranty to know you can keep it running. While getting an extended warranty is easy enough with a new car, getting one on a used car is another story.  Find out which extended auto warranty company we recommend.

If you have been the sole owner of a vehicle, many warranty plans are easy to get into. But, once you purchase a vehicle used, many of the initial warranty plans, and even extended plans purchased by the last owner, are no longer valid. Here are a few things you should think about before making a decision on whether an extended warranty is for you:

Do you need one? – Generally, the answer to this question is yes. Since you don’t know where your used vehicle has been or what type of abuse it has been put through by it’s initial owner, you don’t know if there is an expensive part on the car that is just waiting to break when you are using it. An extended warranty will help you with these repairs.

Do your Research. – Get to know who offers extended warranties for used cars. This is not quite as broad of a business base as most extended warranty programs, as many companies don’t offer these plans to secondary owners of a vehicle.

How high is the mileage? – Many dealers will cover their cars to a certain number of miles, even if it’s sold to a second owner. This is especially the case if you have purchased your used car from a dealership. They may leave the original factory warranty in place for you to take advantage of, or offer their own extension since they are making the sale. Make sure to ask about any coverage they are giving you on the vehicle before you decide to pay for a used auto extended warranty plan.

Do you need to buy now? – While it differs by company, you don’t have to purchase an extended warranty on your new car right away. If you already have purchased the car, don’t panic, take your time and select the right warranty program for you. In most cases, you have a year or so to decide to purchase extended warranty coverage.

Can you handle repairs? – One major consideration you should make is whether or not you can handle the cost of repairs that may come up. For the most part, people purchase extended warranties to be able to avoid the unexpected. By paying for coverage in advance, they have essentially pro-rated the repairs that may be needed instead of getting stuck with them all at once. If you are good at saving money, you may just want to keep putting a little extra aside so you know you have the money for the repairs when you need it.

Generally, this decision is one that relies on risk assessment. If you have a reliable car you don’t worry about, you may be better off putting a little extra in the bank, for that rainy day. If you have a car with all the bells and whistles, more things to go wrong, you may want to purchase a used auto extended warranty, so you know you’re covered.

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