Individuals that decide to purchase an automobile extended warranty often have a lot of beliefs related to that warranty that are not actually accurate. In order to make an accurate and informed decision about the car warranty that you would like to purchase, it is best to know all that you can about the vehicle warranties that are available and that means getting rid of the myths that you may have heard in the past.
One common myth is that you are only able to purchase an automobile warranty for the company or dealer that sold the car to you. As you are probably well aware by now, this is not true. The true part of that myth is that the salesman that sold you your car will actually benefit greatly if you decide to purchase your vehicle warranty for him or her. This person is actually a middle man that makes a very large commission off of extended warranties. When you purchase the warranty from the dealer you will be adding that cost into your finance charges. This will actually increase the total amount that you owe on your car and it can increase the cost by thousands of dollars. Therefore, you should consider buying your automobile warranty direct from the source if you can.
Another myth that many people believe is that if they purchase an extended warranty while the factory warranty is still in effect they have double coverage. This is not true at all. The extended warranty will simply go into effect when the manufacturer’s warranty has expired. This means that you will continue to have coverage at that time if something happens to your car. This may save you a lot of money if you need to complete a repair that is very costly. You may also want to know that this warranty will actually be much cheaper if you purchase it early.
Finally, a large myth that many people think is true is that they will need to purchase a vehicle extended warranty in order to get rebates when they get ready to finance their car. This is not true and if a salesman tells you this, he or she is lying. Remember, this person is going to make a lot of money off of that extended warranty. You need to let him or her know that you know the truth and you may want to consider searching for an automobile extended warranty somewhere else.
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