The process of buying an automobile doesn’t stop once you got your car. There are a series of maintenance and repairs afterward. If you want to save money and time caring for your vehicles, a car warranty will help you become cost-savvy. A car warranty can be taken as the manufacturer’s guarantee that it will replace or repair the defects in your car for a given amount of time. Warranties of new cars are usually in writing and while a used car warranty can be expressly implied. Whether you are buying or selling a car, warranties are essentials that add value to it.
What are the different types of car warranties?
There are basically two types of car warranties: express and implied. When you buy or sell a vehicle and you communicate specific terms such as promises to repair the car and the quality of the car, whether in writing or orally, an express warranty is given out here.
On the other hand, an implied warranty is not spoken nor written. This may be considered a used car warranty. Although this is not communicated expressly, implied warranties include the assurance that the car will work as expected unless it is sold “as is”.
Just in case you planning to purchase used cars, it’s still better to ask your seller about the warranties attached to the purchase. Most car sales should have warranties even if they are just for a short period of time.
What is an extended warranty?
With regards to car warranties, extended warranties are prolonged service agreements that are offered by buyers on top of the standard warranty that comes with the purchase of the car. Extended warranties can be bought from your car retailers, manufacturers, or warranty administrators. So, if your car’s warranty is currently for 4 years and 40,000 miles, an extended warranty can give you more than what your car warranty can cover in terms of mileage limits or time. Just ask your seller about it so you can extend the warranty of your car.
Why buy a car warranty?
An extended car warranty can give you the benefit of saving more money if your vehicle is prone to repairs and maintenance. Most of the time, a standard car warranty is not enough to cover the costly repairs of cars. And rather than paying the cost out of your pocket, an extended car warranty is better as it will last for a couple of years. What you are trying to extend here is the service warranty that your manufacturer can provide. If you can avail of the extended warranty, you don’t have to take your car to a different car mechanic for fixing. You can stick to your car manufacturer as long as you have a valid extended car warranty.
What does a car warranty cost?
The cost of an extended car warranty depends on the rates of your dealer. When you decide to buy a car, your dealer will offer you an extended warranty on top of the standard warranty that comes free with the purchase. Like car financing, extended warranty costs involve dealership rates. This means that car dealers put mark up in the cost of warranties then offer them to buyers.
If you get an extended warranty cost, you will have to pay an upfront fee of up to £650 or more. This will involve the cost of the warranty itself and the interest charges if you will avail of it on an instalment basis. Your car dealer may ask you to pay deductibles as well, which is like a premium when you are paying for insurance.
How do you get a car warranty?
To get car warranties, you can talk to the seller of your car or your dealer. New cars usually come with free standard car warranties. So, all you have to pay for is the extended car warranty to get additional years or mileage limits. In the case of used cars, you can ask your seller for the remaining warranty of the car or you can seek the help of other dealers if you want to put an extended warranty on it.
How does Pocket Box help with an extended warranty?
If you purchase an extended warranty for your car, you’ll want to make sure the paperwork is stored safe and sound. With our App you can simply scan or import the agreement document and it will be available on your phone 24×7, so you can email it or better still print it when you want.