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Are Extended Warranties Named Right?

Is an extended warranty actually a warranty? A warranty is something that comes with the vehicle and it is something for which you do not have to pay anything extra. An extended warranty, truth be told, is really a service contract because you buy it separately and you can buy different kinds that range from the time of coverage to what parts are covered. It is like insurance. In case of any problems when it comes to the parts covered by the warranty, you know that there’s someone out there to pick up the tab.

Well, even if it is a kind of a misnomer, an extended warranty is like a great comforting blanket when you have it. Let’s face it, there are times when due to whatever unfortunate and unforeseen circumstances, you have to pay through your nose for car repairs. With an extended warranty, you just feel glad you’re covered.

How do you go about deciding whether you need an extended warranty or not? When you buy your car is when you need to decide. Take a look at how long the manufacturer’s warranty is. Will you be keeping your car for much longer than that? If you think you would, then an extended warranty is great for you. If not, then an extended warranty really isn’t much use for you. Then look at who you are getting the extended warranty from. If it is from the manufacturer, then this is the best way to go. If it is from an outside company, check their credentials. There are some who are highly rated in this area. Others who are not. Finally of course, look at the monies. How much are you going to have to pay? Is it worth it? Finally, if you sell your vehicle, can the extended warranty be transferred? And most important, what exactly will be covered? Taking the time to sort these issues out pays off big in the long term.

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