Car should i buy extended warranty

Does the warranty pay the service center directly? Is there a waiting period for coverage? Can you cancel at any time? Are there deductible options to fit your budget? Are there mileage restrictions per year when driving your vehicle? What happens when on vacation or a road trip? What is the process for filing a claim? You want a company that offers transparent coverage. One that explains the ins and outs, so you know what is covered, when and how. You want to be able to cancel at any time and to make sure you are covered across the US so no matter where you go, you are covered.

Most of all, you want to know they will be there if and when an issue arises. Everyone has individual needs, hopefully, the information above will help you in determining what is best for your situation. Remember, a company with a good reputation will take the time to ensure total satisfaction , whatever the purchase. We know like many of you, that learning all there is to know about extended warranties can be a lot to digest.

What is what? When do you buy? Who do you buy from? What are the differences that you need to be aware of? What are key benefits to consider?

It is a lot to take in! Well, buckle up! We will dive into the important info to consider when looking at purchasing an extended warranty solution for your used vehicle. Each auto manufacturer has individual terms and conditions that apply to their new vehicle. Most warranties guarantee that the new vehicle is free from defects in materials and workmanship.

If a repair is deemed as defective, the OEM kicks in to repair the issue, most of the time. Parts and labor are usually covered for an agreed upon time, most commonly 3 years and 36, miles, whichever comes first.

Pay attention to exclusions if any. Most used vehicles when purchased from a car dealership come with a Certified Pre-Owned warranty. This usually means the vehicle has passed a rigorous set of inspections that the dealership conducts. Warranty coverage varies per car make and model. Just like any warranty, you should pay attention to the restrictions. Usually repairs need to be conducted at the dealership where you purchased the vehicle.

These warranties are peace of mind when buying a used vehicle from a dealership. An extended warranty can also be called a service agreement, maintenance agreement or service contract. An extended warranty may be sold at the dealership when buying a new car or post purchase as an aftermarket offering.

Extended warranties will cost extra and often paid up front or financed along with your vehicle. Like the other options, there are terms and conditions that spell out items covered and those excluded. None of the above plans or policies cover damage caused by a driver or repair damage from an accident or wear and tear.

Those repairs are covered by service agreements or basic car insurance. None of the plans should be mistaken for basic car insurance. Big repair bills can happen at the worst times, and extended warranties can protect against those. Common sense tells us that if you can afford to repair your vehicle if and when it breaks down or when those repairs are needed then you may not NEED an extended warranty.

In other words, can you afford to self insure your car? One thing to consider is how difficult cars and trucks are to understand nowadays. Between electrical sensors, computer components and microchips, vehicles are more complex than ever. Many claims can cost thousands for one repair issue. So, based on the above topics reviewed, the decision should come down to these primary questions: Does your used vehicle purchased have a remaining OEM warranty?

How prone to repair issues is your make and model? What are your individual driving habits and how will they impact your vehicle? What are your personal budgeting habits and can you afford repairs if needed? For nearly 20 years our company and its affiliates have been providing mechanical breakdown coverage for vehicles in a consumer friendly way. In we launched gogetolive. We are a consumer informed product provider, seeking to offer the best product at the right time in a transparent manner.

In order to protect your vehicle when a repair is needed, having an extended warranty or MBI will suit you well. Most owners tend to file a claim within the first year of starting the extended warranty. Cars are built differently nowadays. Between all the automated components and the computer that literally sits within the engine, costs can soar when a repair is needed. For this reason, an extended warranty can be a wise investment, paying for itself in just one or two claims.

We hope that we helped you consider the options when it comes to covering your used vehicle with an extended warranty. Whether you own a car, truck or SUV depending on the amount of time spent in and miles driven may determine if you want to cover it with an extended warranty.

With an extended warranty, you pay your deductible along with any uncovered items and you are literally back on the road, enjoying life. Introducing olive Olive is shaking up the way drivers look at extended warranties. Olive owns and operates Olive Insurance Solutions.

For nearly 20 years our company and its affiliates have been providing coverage for vehicles in a consumer friendly way. In we launched olive. No waiting period Start coverage up to , miles No yearly mileage limits Coverage across the US Manageable monthly payment options Cancel anytime. And, with olive there is no waiting period. You can quote today and be covered tomorrow. We know this is a lot of information for you to consider. We hope we helped to line out the differences and the benefits to buying an extended warranty solution for your used car.

Best of luck in both car shopping and when considering buying an extended warranty. Take your insurance coverage to the next level at olive. If you have additional questions feel free to call one of our Coverage Advocates, they are available Mon — Fri by calling Stay in the loop, circle, oval, pit with these blog topics and more by connecting with us.

Wherever you find yourself, know that olive is with you, every mile, every day, every journey. In , more people are keeping their cars longer as a smart way to save money and get the most from their investment.

With the delay of car manufacturing in , finding the right new car might be harder than finding the right previously owned vehicle. Buying a used car can save you thousands.

If you do buy new, you know you have taken great care of it from day one and may worry less about something going wrong with your vehicle. Even when buying new, sometimes the warranty expires before the car payments. Knowing your options starts with asking the right questions. Here I will try to help you make the best decision for your situation by explaining what they are, how they work, as well as 12 questions you need to ask before you make a purchase decision.

There are many options available for extending coverage for auto repairs. You just want to know if you are getting the coverage you need to avoid an expensive auto repair. It is important to understand what makes a company legitimate; remember, a company is only as good as its backing. California MBI regulations help to provide some framework, but you still have to make sure the company backing the plan is a large company that will not likely be going out of business in the next few years.

Like any other insurance product you buy, you need to know they will be there when you need them. Like any insurance product, there are different levels of coverage. This is a summary of how we break them down here at olive you can get more details here on the olive coverage page. These types of plans cover your drive-train. For olive , the Powertrain level of coverage covers all of the most expensive items, including every lubricated part of your transmission and engine. It also covers other expensive repairs: Water and oil pumps?

Factory turbocharger? All covered. If you are on a tighter budget, this might be the best extended warranty solution option for you, just make sure you know what your MBI or VSC actually covers. These types of plans cover most of the details.

While tires and windshield wipers are not covered because they are wear and tear items, just about everything else is covered, from your backup-assist camera to your transmission control module — we have covered, olive it covered.

If you are looking for comprehensive coverage and maximum piece of mind, then this may be your best extended car warranty solution. Many plans are somewhere between the two plans mentioned.

For example, the olive Powertrain Plus vehicle service contract takes the benefits of our olive Powertrain plan and turns it up a notch. Covering more than just the major parts, olive Powertrain Plus includes power steering, front suspension, brakes, and air conditioning components. The plans are very popular with people who want a bit more piece of mind and have a tighter budget. If it covers what you worry about then it my be your best extended car warranty solution option.

Finding real pricing, and an honest cost analysis, can be a challenge. Typically, your car dealer will give you a few options when you buy your vehicle, but you may not be sure if they are offering you the best deal.

At the dealer you can get or maybe even 3! Most people do not live and work in the car warranty world; they have no idea how much something like this costs and have no way to compare it in the moment. You have time to find the best extended car warranty solution for your needs, and with web based tools like the one olive offers, you can do some research before you even go to the dealer- or right from your phone at the dealer.

You should be able to get days to make the decision on your car warranty. If not, then it might be a good idea to say no and look for something on your own.

Go to the dealership prepared with your best extended car warranty options. An informed customer is a savvy shopper, and a savvy shopper makes good decisions.

In the same way you research makes, models, and years of cars for pricing and reliability before you make a purchase, research MBI and VSC costs before you go to pick up your car. Information is power. Which is not fun for anyone. If they do not provide pricing and the option to check out online, then you may have to have a conversation with a salesperson to get the details you need to make a decision.

If they are not transparent or professional, then hang up and move on to your other options. At olive , we provide an online quoting tool with 9 different options for the vast majority of automobiles sold in the US today, as long as they have under , when they start with us and they are less than 11 years old, and we cover them up to , miles.

In most cases, we can give you a quote for a car you own or are considering in less than 2 minutes. You know what your options and can actually purchase with no phone calls at all. For now, if your car is older, has over , miles or is one of the few brands or models we do not cover you will need to reach out to a different company.

Make sure you are prepared with the questions below. Manufacturers like Fiat, Dodge, Chrysler , and Ford send them out to their customers and can offer good solutions. Even we at olive use direct mail to notify people of their eligibility.

Use your instincts. Avoid mail offers that seem fake, or that use scare tactics or high-pressure tactics. If that is what they are leading with, then you may see more of the same when you call. We think it's important for you to understand how we make money. It's pretty simple, actually. The offers for financial products you see on our platform come from companies who pay us. The money we make helps us give you access to free credit scores and reports and helps us create our other great tools and educational materials.

Compensation may factor into how and where products appear on our platform and in what order. But since we generally make money when you find an offer you like and get, we try to show you offers we think are a good match for you. That's why we provide features like your Approval Odds and savings estimates. Of course, the offers on our platform don't represent all financial products out there, but our goal is to show you as many great options as we can.

Plus, many people who buy extended warranties never use them. In that case, an extended warranty becomes a cost with no financial return. However, our compensation is never tied to whether you purchase an insurance product. Trending 1. In your inbox every Tuesday.

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