When consumers are considering purchasing an extended auto warranty, not only do they need to look at the amount of coverage, but they need to look at when to purchase it. You can either buy the warranty when you purchase the vehicle or after the fact.
One convenience of buying an
extended warranty (vehicle service contract) when you purchase your vehicle is that you can fold the cost of the warranty into the vehicle's financing. It often means a small increase in your monthly car payment, but you won’t have to lay out a lot of cash in one lump sum.
But you don't have to buy an extended warranty when you purchase your car. You can add an extended warranty to your vehicle anytime before the standard factory warranty runs out. And if it does run out you may still be able to purchase coverage. You also don’t have to come up with all the cash right away. Many companies allow you to make monthly payments on your warranty.
But, don’t wait until your factory warranty expires. It will cost more money than if you purchased it while you were still under your factory warranty. And you will more than most likely not be able to purchase a factory backed warranty.
Mileage and age of your car also affects the cost of an extended warranty. The more miles you have on your car, and the older it is, the more money it will cost. Plus, you coverage options will decrease.
When purchasing an extended warranty, timing is everything. The longer you wait the more money it can cost. So, if you know that you are going to purchase a warranty, do it when you purchase your vehicle or soon after. It will save you money and you will have the peace of mind knowing that you are covered.
