You have had your car for a few years and the
factory warranty is about to expire. 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, when your factory 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. If you plan on keeping your vehicle a few more years, one option is to purchase an extended auto warranty, or vehicle service contract. A vehicle service contract can give you the same coverage that you received with a factory warranty plus wear and tear coverage. Also, extended auto warranties often come with roadside assistance. You will receive 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, 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 an extended auto warranty or trade-in your vehicle. Your wallet will thank you.
