You purchased a vehicle service contract, or extended auto warranty, for your vehicle, but you are reaching your time and/or mileage limits on your warranty. While you may have a powertrain warranty that last for up to 100,000 miles, it only covers your engine, transmission, and drivetrain from any manufacturer defects or workmanship. But what about all the other parts that could potentially break? Unfortunately, once your extended warranty expires, you will no longer be covered for those items and will have to pay out of pocket for those repair cost.
So, what can you do to protect yourself from repair costs?
There are a couple of options to maintain coverage on your vehicle. Depending upon the mileage and year of your vehicle, you may be able to purchase another extended warranty. If you plan on keeping your vehicle a few more years, this could be a good option. You can still have the coverage you love and enjoy roadside assistance. With roadside assistance will give you extra benefits such as flat tire change, jump start, lock out services, and more.
But if you don’t plan on keep your vehicle for the next few years, or if it has a good number of miles on it, the better option would be to trade-in your vehicle for a newer one. You can take the money that you would have spent on an extended warranty and put that towards a down payment on a new vehicle. You can often get a newer vehicle, with less miles, and a factory warranty for about the same as your current monthly payments.
Don’t leave yourself exposed to the risk of high repair cost. Purchase another warranty or trade-in your vehicle. Your wallet will thank you.