Do You Need An Extended Car Warranty?
With most new cars and often used cars if you use the right car dealership, you will be offered a warranty when making your purchase. This warranty usually covers all repairs to your car for about a year and is a guarantee that you are buying a quality product in good faith. An extended warranty will help you cover costs of repairs after the manufacturer warranty has expired.
If you’re buying a second hand car, likelihood is, you will not be eligible for a makers guarantee. The dealer may undertake several months of repairs once the vehicle has left the forecourt, but an extended guarantee in this instance is a great idea.
Assuming you’ve bought a well looked after and well kept used vehicle, not much should go awry with it. However, the chance of a 2nd hand car needing repairs or upkeep is too great to obviate buying extended guarantee. Ask anyone who’s bought used and needed repairs a couple of months down the road, it can be a pricey process and will undo the savings you made buying second hand.
If you can find a reputable and reasonable insurer, your monthly payments should be small enough that the peace of mind is worth it. This is especially important if you do not have the funds to cover large repairs or cannot afford to go for any period of time without a reliable vehicle.
There are over 20,000 breakdowns on the M1 only every year! Of all breakdowns that are registered by the RAC, nearly 70,000 are due to engine failure, 60,000 due to alternator failure and 50,000 by clutch failure. These are basic failures for old cars, so if you’ve purchased a used car, mull over on these numbers and think about extended guarantee. In the long-term paying a monthly or yearly fee could save you a lot of cash. More significantly it will save you a lot of trouble.
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