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Finding the Right Auto Warranty for Your Car

When you purchase a new or used vehicle, you will likely find yourself with many warranty options. Most new cars come with a dealer warranty, though each warranty differs, and many dealers also offer third party warranties even offer used vehicles. Should you purchase these third party warranties? Should you pay for a supplement to your dealer warranty? These are questions you must know the answers to, and what follows is some information you may not realize about auto warranties.

First, it is important to know that all auto warranties are not the same. Most dealer warranties offer coverage only for parts that break due to mechanical failure. As a car ages, it become increasingly more likely that wear and tear will be the cause of mechanical problems. Once wear has become visible, mechanical failure can be hard to prove, as wear will be considered a factor in the problem, meaning that many auto warranties will not have to pay the claim.

Many customers are talked into getting a warranty before leaving the dealership, and the warranties always sound like an excellent investment. In fact, there are many good dealer warranties available. It is important to understand, however, that this is not always the case. In addition to warranties that do not cover wear and tear, there are also many warranties that only pay over a deductible amount on every claim. This means that if you have a five hundred dollar deductible on these policies, every repair below five hundred dollars is paid out of your pocket. If you have a six hundred dollar repair on one problem and a seven hundred dollar repair on a second problem, you will have to pay one thousand dollars of your own money for repairs. Be certain to read the terms of any warranty carefully before signing any paperwork.

Used car warranties are often a wise investment, but it is important to know what you are seeking. First, never choose a used car warranty that has a deductible near the value of the car. This is simply not a good investment. Secondly, never get a warranty on a used car that just covers mechanical failure. With a used vehicle, there will almost always be some evidence of wear and tear, leading to denied warranty claims. If you are going to purchase a warranty for a used car, you need a warranty that covers wear and tear, plain and simple.

It is also important to realize that you will have to pay more for a wear and tear warranty, but that if you choose one that has a low deductible, you will find yourself to be well safeguarded. A per-event deductible is a great way to save money, but be certain that the amount is reasonable. Understand that if your car is determined to need a thousand dollars in repairs, but multiple parts are to blame, your deductible will apply to each separate problem and not to the bill as a whole. Ensure that your warranty will offer you true value and that you will be covered in such a situation.

Whether you are buying a new or used car, purchasing a warranty is a good investment. Be certain to understand the terms fully, and do not feel pressured to take the warranty offered by your dealer. There are many quality warranty providers available, and taking the time to choose the best one for your car and your budget is always an excellent financial decision in both the short and long term. With the right warranty, you can drive with the peace of mind that in the event of a major car problem, you will be back on the road quickly.

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