Have you by any chance ever thought about taking up extended protection for your car? If not, it might be the most viable time to consider making this all-important decision. Before we go on, let’s take a quick look at the types of extended protection- an extended vehicle warranty and a vehicle protection plan.
An extended vehicle warranty is extended protection sold by an authorized dealership or the manufacturer. Only the vehicle manufacturer can sell a valid extended warranty. Any other type of extended protection is known as a vehicle protection plan, mechanical breakdown insurance, or an extended service contract.
Having said that, here is why you should consider buying extended protection for your car be it old or new.
Money-Saving Benefits
One of the main reasons for buying extending protection for a new car is cost. After all, you get the best value when purchasing extended coverage for a brand-new car. In the event that you wait until your original warranty expires, rest in knowing you may have to pay more for a vehicle protection plan since your car will be older and have more miles.
While you have to pay for the extended protection sooner, you will probably save on the overall cost of the protection by purchasing it for a new vehicle. Of course, it always pays off to shop around if you’re to get cheap auto insurance.
Run Out of Warranty Coverage before You Expect
It is worth noting that you could at times run out of warranty coverage before earlier than expected. Most new vehicles come with a 3-year/36,000-mile manufacturer warranty. But this could run out quickly if you drive more than 12,000 miles a year.
What this simply means is that your original warranties will expire before the 3-year mark. For drivers who drive just a bit more than average, their warranty will expire only 2 years. By locking in a vehicle protection plan or extended warranty when you car is new, be rest assured you can never find yourself without coverage on your car.