In this short article you will learn:
Is a used car warranty really worth the investment?
What should I consider when looking for a used car warranty?
Is the used car warranty from the dealer the best deal I can get?
In my opinion, used cars are the single best value in transportation options. But for some people there is always that nagging in the back of their minds, wondering if the car will break down. There is one way you can alleviate that fear. A used car warranty.
The problem is most of you aren't used car warranty specialists. Most of you haven't purchased a used car warranty before. If you have purchased a used car warranty, it was probably from the dealer who told you it covered "everything" and flashed a quick salesman smile before he changed the subject.
So, on to the first question. Is a used car warranty really worth the investment? As with most things in life the answer could be yes or no depending on what you buy.
If the used car warranty you end up purchasing has extremely limited coverage, then chances are that if something breaks it will not be covered. In this case, the warranty was a complete waste of money.
This brings me to my first point.
Just as with a home or a computer or anything else, you should always purchase the best used car warranty you can possibly afford.
Yes, a used car warranty is worth the investment.....IF you buy the right amount of coverage from the right company. What is the right amount of coverage? Re-read the paragraph above.....you should purchase the best used car warranty you can afford!
Now let's look at the second question: What should I consider when looking for a used car warranty?
This is a very important question. Most of you will first think "price". If you are one of the few who did not think price was the most important part of the used car warranty then you are ahead of the game already.
First, you want to take a look at the used car warranty coverage. At a minimum you want your complete engine, transmission and axles covered.
If these aren't covered completely, forget it. In addition, you should also have coverage on your suspension and cooling systems as these break frequently also.
Another thing to consider is the financial stability of the company. If they sell you a five year used car warranty and then go belly up after two years, I'd say you just threw away that money.
Warranty Gold stopped paying its claims in 2004 when its insurer based in the Cayman Islands closed up shop and there are still people floating around trying to sell their used car warranties!
Don't buy from just anybody and make sure the company you are working with is stable and financially secure.
Third question: Is the used car warranty from the dealer the best deal I can get?
In short....no. Not even close. Most dealers will sell you a used car warranty that they have purchased from a third party that you can deal with yourself.
They then mark up that used car warranty as much as 100%.
Do yourself a huge favor and just buy the warranty on your used car directly from the company. The warranty company can usually finance the purchase and you will save a whole lot of money.
So, my three pieces of advice from this article are these:
Always buy the best used car warranty you can afford
Learn a little bit about the company before you buy
Buy direct from the source. Never buy your used car warranty from the dealer.
In my free report, I have done all the research for you. If you want to know which used car warranty company I recommend you should download my free report from the link below.
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