Vehicle warranties can be purchased at a variety of places, including your bank or credit union, the car dealership, and even online. Warranties differ in cost depending on the age of the car, and its mileage. Most warranties come in two categories, used vehicle and new vehicle. A vehicle is considered used if it has from 60,000 to 100,000 miles. A vehicle is considered new if it has less than 60,000 miles. A vehicle warranty can be purchased to cover your vehicle from one to seven years.
Most warranties are similar, and often cover the following:
• suspension system
• fuel system
• steering system
• cooling and heating system
• brake system
• electrical system
• seals and gaskets
• transmission and transfer case
• drive axle
• engine system
Of course you can find warranties that cover more, or less, depending on what you need. You also have the option of adding roadside assistance to your vehicle warranty. The following are some items covered in a roadside warranty:
• Towing
• Gasoline Delivery
• Battery Assistance
• Emergency Tire Service
• 24 Hour Emergency Roadside Service
• Lockout Assistance
Other benefits may include a money back guaranty, car rental reimbursement, and trip interruption, meaning those providing you with the warranty reimburse hotel and food costs if you break down out of town. For those of you wondering which five star hotels you can break down in front of, most warranties cap this reimbursement at $50-$75.
If you decide to sell your car while it is still under warranty, the vehicle warranty may be transferable, or you might be eligible to receive a pro-rated refund. This is something that you'll specifically want to ask about when you're calling around. If you have an electric hybrid vehicle or an exotic car it is difficult, if not impossible, to get an auto warranty of any kind. Leased vehicles, on the other hand, can be covered. The cost of coverage depends on how far into the lease you are.
While you're looking for a vehicle warranty you will want to find out what problems others who have the same make and model of the vehicle you want to put under warranty have had most commonly. There are several web sites where this type of information is available.
Make sure you look around. Getting a quote is easy, and free! You can call your bank or credit union, your car dealership, or if you're looking online you can e-mail or call. You will need to know the make, model, and year of your car, the mileage on your car, and about how many miles you drive each year. If you have a factory warranty they will want to know how much time or mileage is left on that warranty.
While you're looking it is important to know what you want covered. Make those specifications up front, because they will greatly affect the price of your warranty. Check with the Better Business Bureau to make sure you are dealing with a reputable company. If you are buying a warranty for a used vehicle, you might also want to check out the warranty laws in your state.
By Clint Hunter