When buying a used car, obtaining a warranty is a sure fire way of ensuring that there are no problems in the long term. With financial times being as hard as ever, most buyers are looking to ensure that they reduce future motoring expenditure to a minimum, and this is a great way to do it. Many used car dealerships will actually work alongside insurance companies to offer buyers a warranty. Whilst some warranties might be free, many need to be paid for. Get a few quotes when buying warranties for a used car as the chances are that the first quote might not be the cheapest.
Car dealerships are in the auto industry and therefore, are likely to have some great contacts when it comes to finding a warranty, however, there’s also a different side to the coin. Because the dealerships are so well networked, if you come across a dishonest salesman, he might try to sell you a policy that pays him higher referrals. If a warranty is not being offered, it is worth speaking to the dealership and seeing if there is anywhere that they suggest. There are different types of warranties available, although ones that offer parts and labour coverage are usually the best ones on offer. Other products may be priced up based on the amount of miles covered, or the amount of days that the warranty is needed for. Of course, there are always extras, such as breakdown cover, which could be incorporated into the policy.
With the growth of the internet, car warranties are now available online. Thanks to the massive influx of comparison websites, buyers of used cars can now get essentially, instant quotes, but also compare all of the offers directly to ensure that the best deal is obtained, rather than paying over the odds for the policy.
Even if a warranty is offered, there are opportunities to increase the quality of it. Generally, dealers will label this as an extended warranty, which will lengthen the period of time that the warranty exists for. This means that parts and labour for repairs will be covered for much longer. Extended warranties are much more expensive, so each individual should weigh up the pros and the cons of paying out that extra cash.
When considering an extended warranty, try and go with a company that is known for offering an exceptional service. Companies that do not offer good customer service are likely to leave their customers waiting, which can be extremely frustrating; especially for those that uses their vehicle for work purposes and therefore, loses money every single day their vehicle is off the road.
Lucy is an experienced insurance broker currently specialising in car warranties and used vehicle maintenance.