Is an Extended Guarantee Worth Considering?

Posted by on January 3, 2012 | No Comments

With nearly all brand new vehicles and often 2nd hand cars if you use the best car dealer, you will be offered up a warranty when making your purchase. This guarantee generally covers repairs to your vehicle for more or less a year and is a sign that you’re buying a good quality product. An extended guarantee helps you to cover the costs of repair after the manufacturers warranty has run out.

If you are buying a used car, likelihood is, you will not be eligible for a manufacturer warranty. The dealership may guarantee so many months of repairs once the car has left the lot, but an extended warranty in this case is a good idea.

Assuming you have purchased a well cared for and well maintained used car, not much should go wrong with it. However, the risk of a used car needing repairs or maintenance is too great to avoid purchasing extended warranty. Ask anyone who has bought second hand and needed repairs a few months down the road, it can be a costly process and will undo the savings you made buying used.

If you can find a reputable and reasonable insurer, your monthly payments should be small enough that the peace of mind is worth it. This is especially important if you do not have the funds to cover large repairs or cannot afford to go for any period of time without a reliable vehicle.

There are 19458 breakdowns on the M1 alone every single year! Of all breakdowns that are recorded by the RAC, almost 70,000 are caused by engine failure, 60,000 by alternator failure and 50,000 by clutch failure. These are common failures for older cars, so if you have bought a used car, reflect on these figures and think about extended warranty. In the long run paying a monthly or annual fee could end up saving you a lot of money. More importantly it can save you an awful lot of hassle.

Here at We Buy Any Damaged Car we buy any car today. You can sell your new but broken car for cash, and do so quickly.

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