Let’s face it, there are a lot of misconceptions and unknown things when it comes to an extended vehicle warranty. Part of the problem is that there are so many different kinds of plans for extended vehicle protection and they go by many different names – extended vehicle warranty, vehicle protection plan, mechanical breakdown insurance, etc. There is a lot to learn and consider and we could go on all day about it. But for now, we will just share three surprising facts about extended vehicle protection to help clarify things for you!
All Extended Vehicle Protection Plans Are NOT Created Equal.
That’s right. Big differences can exist in the cost, the coverage, the convenience, and the reliability of different plans. For example, only the manufacturer or an authorized dealer can sell a real extended vehicle warranty. Plus, these plans are often more expensive than other options and are not as convenient because you must have repairs done at the dealership. All of the other plans, like vehicle protection plans and vehicle service contracts, can be sold by either a dealership or an independent provider, which gives you many more options. Even better, these plans may be more convenient and offer more features and benefits, like repair shop choice and roadside assistance.
You Can Buy Extended Protection AFTER You Buy Your Car.
People often assume that they have to buy extended vehicle protection at the time they buy their car or before the original vehicle warranty expires. This is NOT true! You can buy extended protection at any point, as long as the plan covers the model year and mileage of your vehicle. This means you can buy a plan at the time of buying your car, six months after you bought your car, while the vehicle is still under the original warranty, once the original vehicle warranty has expired, etc. While we recommend buying a plan ASAP to lock in the best rate, you can buy a plan at a time that works for you.
(If you bought a used car, did you know you can check whether it’s under warranty? Our friends at Best Company outline how you can find the status of your vehicle protection.)
The Dealership Might NOT Be the Best Place to Buy a Warranty.
Dealerships often have a high mark up on the plans they sell, and you could end up paying quite a bit more for the same extended vehicle protection plan that you could buy from an independent provider! Also, plans sold by independent providers may offer features and benefits that dealership plans don’t include. These could include rental car reimbursement, roadside assistance, and more. What’s more, with a plan from an independent provider, you generally have the freedom to have your vehicle repaired at any licensed repair facility instead of having to go to a specific dealership.
Were you surprised by the above facts? Ready to look further into extended vehicle protection now? I invite you to contact autopom! today to learn more about a vehicle protection plan and for your free quote!