When is the best time to buy an extended warranty?

The Best Time to Buy an Extended Car Warranty

So you are interested in buying an extended protection plan for your vehicle but you don’t know WHEN to buy to save you the most money. Some people think that if they wait longer to buy a policy it will be cheaper for them in the long run. But this is wrong on two fronts.

First, with more complex vehicles being manufactured the cost to repair them is

skyrocketing. And second, the more miles you have on your car and the older it is the more your protection plan is going to cost. It’s not like buying insurance where you pay every month and the cost goes up or down. With a used car warranty plan you pay for it in one lump sum. The cost can range from $1,200 to $2,500 depending on the extent of the coverage and how many miles are on your car.

But you don’t HAVE to pay for your warranty at once. Most good companies will split up the payment into monthly installments at no extra charge interest-free.

In fact, you could be paying as little as $.50 cents a day depending on the policy you choose. Now imagine how much one major part on your car failing will cost you. Just one major repair bill will more than pay for the cost of a car warranty and you can get all kinds of benefits while you have it like free roadside assistance, car rental, towing, and more.

By getting your warranty plan as soon as possible you are locking in a low rate. Can we agree that car repair costs are going UP? Then that means you can pay today’s prices for tomorrow’s repair bills.

If you wait for your car to be one year older or have 15,000 more miles it will just cost more to buy coverage, so if you are really serious about getting a vehicle protection plan you should do it soon.

Some people think it’s best to wait for something to breakdown on the car before getting coverage. But this is a huge no-no. Car warranty companies only protect cars that are currently running in good condition. By the time you hear a knocking sound in the engine or see warning lights coming on it’s too late and you will have to pay for those repairs yourself.

It’s best to get warranty coverage on your car while it is still running smoothly, and then you can relax knowing that you won’t have to pay for any costly repairs.

Related Articles:

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2. Should You Get a Wear and Tear Warranty or a Mechanical Breakdown Warranty?
3. Extended Warranty for Cars – What to Ask
4. Yes, you CAN get a warranty for your high mileage vehicle.
5. Do I Need an Extended Car Warranty if I have a Manufacturer’s Warranty