It is important that as a motorist you have a clear understanding of what a warranty is and why you should have one. While some motorists drive around without one and view it as an unnecessary cost, this is actually a huge risk and one which could cost them a fortune.
What is a Warranty?
So, what exactly is a warranty? This is a form of protection that will cover the cost of parts and labour in the event of an electrical or mechanical breakdown. A new car will be covered by a manufacturer warranty which usually lasts for the first three years of ownership or 60,000 miles (although sometimes this is longer). After this, you will be unprotected unless you arrange an extended warranty which will provide insurance against a range of faults – like most types of insurance, coverage will vary depending on the provider and deal so you always need to do your research.
The Cost of Repairs
Cars are complex machines (particularly newer ones with modern technology) which means that they can breakdown at any moment in the vehicle’s lifetime. The cost of repairs and parts can be huge (and is rising) especially with certain types of vehicles so you do not want to have to foot the bill because this could have a huge impact on your financial situation in addition to the stress of being without a car. Arranging an extended warranty will give you peace of mind while driving knowing that you are covered if you encounter any issues behind the wheel.
As you would expect, not all extended warranties are the same which is why you should always shop around and read the small print to find the right level of cover with fewer exclusions. For the best and most flexible type of cover, it is always best to arrange a warranty with a specialist like Warrantywise as opposed to with a used car dealership. Some warranties will only cover certain parts of the car which is not much good when there are over 5,000 different parts in a typical automobile. This is why you always need to shop around to find a good deal otherwise a warranty might end up being more affordable than paying for repairs.
In addition to this, you will find that a warranty provided by a specialist will provide helpful additional expenses as part of the coverage. This might include roadside assistance and recovery, replacement vehicle hire, onwards travel costs, overnight hotel expenses and European cover. Having a vehicle breakdown can be disruptive enough but if you then have to arrange roadside assistance and arrange a temporary vehicle, it can only make matters much worse (and much more expensive).
Automobiles can breakdown at any moment, and they can be incredibly expensive to repair. Being forced to cover the cost of parts and labour could have a big impact on your finances and could make for a nasty shock so it is much better to have coverage in place if your original manufacturer warranty has expired. In addition to potentially saving you a small fortune, this can also provide important peace of mind knowing that you are protected.