How to Find the Best Extended Auto Warranty Company
Extending your automobile warranty can give you piece of mind, especially if you want the car you just bought to last well beyond the original warranty from a dealer or the manufacturer. It takes a little bit of time and research, but finding the perfect extension to your warranty will be worth the sweat.
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Instructions
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Contact the dealer where you purchased your vehicle, or a third-party provider to see about extended automobile warranties. Don't be afraid to also shop online. According to the Unofficial DMV Guide, third-party providers typically charge less and are more flexible with regards to repair locations, but also carry a higher amount of risk associated with unfilled claims. (See Reference 1.)
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Cross-reference your extended warranty provider with a reputable agency, like the Better Business Bureau, Standard & Poors, or A.M. Best, to gauge the company's financial stability.
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Look at all the options within your vehicle's warranty before you decide to purchase an extended warranty. Some things to consider, according to Edmunds, a leading new and used automobile pricing guide, include the reliability record of your vehicle, the deductible, transferability of the warranty, what work is covered, what shops you can use for repairs, as well as if you have to put the money up front for repairs and then get paid back, or vice versa. (See Reference 2.)
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Tips & Warnings
If you purchase your car from a new car dealer, that dealer may pressure you at the time of sale to purchase his extended warranty. Evaluate such offers carefully, and remember you have no obligation to purchase an extended warranty from the dealer as part of the sale.
