Are Extended Warranties Worth It?

What Is An Extended Warranty?

An extended warranty is an additional plan you can opt-in when you are financing your new or used vehicle that provides additional maintenance coverage once your factory warranty has expired. Think of an extended warranty as an additional safety net; if your major powertrain warranty has ended, and a major repair crops up, an extended warranty will help cover the cost of having that repaired.

What Else Do Extended Warranties Cover?

Plans can vary between manufacturers and dealers, and whether you are getting a new or used extended warranty. However, extended warranties may include or have options for coverage that include:

• Towing
• Roadside assistance
• And more

Extended Warranties For New & Used Vehicles

Extended warranties apply to both new and used vehicles, but they work differently depending on the condition of the car. Whether you’re looking to tack on an extended warranty on a new or used car, here are some tips to consider for both:

New Vehicles

When it comes to deciding whether you should get an extended warranty for a new vehicle, you’ll want to consider a few factors, such as:

• Do you plan on swapping out your vehicle in the next 10 years? If so, then you may not need one, as vehicles are built to be more reliable than they were in the past.
• If you’re planning on keeping your vehicle for more than 10 years then an extended warranty can be worth the investment.
• It’s also worth checking to see what insurance coverage is included with your new vehicle purchase.

Used Vehicles

When it comes to used vehicles and extended warranties, it’s all a question of reliability. Consider the following:

• Having the vehicle inspected and an estimate created for any vehicle issues.
• Decide how long you plan on keeping the vehicle.

Do I Need An Extended Warranty?

Extended warranties are perfect for those who are worried about breaking their budgets should a major issue come up or a repair is needed. As stated before, extended warranties are an extra precaution set in place should an unpredictable maintenance problem arise. These warranties let you have peace of mind while on the road. If you are someone who would like that extra safety net for the health of your vehicle that won’t break the bank, then an extended warranty is worth it.

Discuss All Of Your Financing Options At McDonald Toyota Greeley

If you’re still unsure if you should choose an extended warranty, or if you would like to calculate your monthly car payments, let McDonald Toyota Greeley help you with any financial inquiries! Simply contact us or stop by our McDonald Toyota Greeley dealership for more advice or to begin the financing process.