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Used Car Extended Warranty
If you have purchased a used car and looking to purchase an extended warranty, you must proceed with caution. If you make a wrong move in choosing the company or dealer to purchase your warranty from, you will be spending a fortune unnecessarily on this.
Some dealers and warranty companies usually keep a huge mark-up, sometimes even a hundred percent mark-up. An extended warranty is absolutely necessary especially for used cars in order to avoid huge repair and maintenance costs.
But you will have to do a thorough research on the companies offering warranty before settling down with one. Before anyone could force you to go in for an extended warranty, go through your papers to determine how much of the original factory warranty coverage is left . A lot of manufacturers now provide more than three years or 36000 miles protection.
Used car extended warranty buyers must check whether the factory warranty is transferable. Some cars are and some are not. If you go in for a used car which has been certified by the manufacturer you will definitely have some additional warranty on your vehicle.
Most of the cars which are luxury brands offer additional used car extended warranty for a period of two years to certified buyers of used cars. After determining the duration or mileage of warranty left in the used car you are planning to purchase, you will have to think about and decide on how long you are planning to keep this car and based on all these calculations, you must cautiously choose your warranty company.
When you purchase a used car and planning to just keep it for three years and the car is already coming with a one year left over warranty, you can also decide not spend money on the extended warranty. You can just opt to keep that money in your bank account and use it for any repairs or maintenance work.
But then, if you are they type who do not like unexpected surprise expenditures or even if you are one who just cannot save money on a long term, then it is better you just take up a Used car extended warranty. This will definitely safeguard your interests.
One more aspect a used car owner has to look into is the reliability of your car. If you have a car which is relatively trouble free then you can expect few or no repairs. But if it is a luxury car with complicated electronic and computer circuitry, then it is safer to opt for the Used Car Warranty.
The entire business of warranties is a big gamble. The customer gambles on his car playing up to the extent of his coverage during the contract period and the warranty coverage company gambles on the car having no such problems.
Most of the times, it is the company which emerges victorious. Customers just pay up not for the repairs but for the security and peace of mind.
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