Is an Extended Car Warranty Worth It?

Couple Going Over Finance Documents with Dealer

No matter what kind of new vehicle you’re searching for, you’d probably like the model you choose to be as reliable and durable as possible. For many drivers in the O'Fallon area, the right warranty will be a major factor in their purchasing decision. However, if you’ve never financed a new vehicle before, you might be wondering whether extended warranties worth it.

Although your decision should be based on an honest appraisal of your budget, owners who are in it for the long haul are sure to appreciate the benefits that extended warranties provide.

What is an Extended Warranty?

When you’re financing your next new vehicle, the dealership may offer you an extended warranty as part of your financing package. Like the new vehicle warranty or certified pre-owned warranty that came with your vehicle, an extended warranty provides additional coverage for your maintenance needs. While no two makes offer identical extended warranty plans, many allow you to opt for additional benefits like roadside assistance.

As many drivers may realize, major issues become more likely to pop up over time. If you want to be prepared for the worst, an extended warranty can act as a safety net after your initial protections have expired.

Calculator and pen

New vs. Used: Should I Buy an Extended Warranty?

Options will vary depending on the make you choose, but in general, extended warranties can be applied to new or used vehicles. Here are the main differences between the two types of protection plans:

New Vehicles

If you’re purchasing a new vehicle, the main question you should consider is, “How long am I going to keep it?” If you don’t expect to have the vehicle for more than ten years, an extended warranty might not be the smartest decision. However, if you plan on keeping the vehicle for as long as it can drive, you’ll find that an extended warranty is a great value.

Remember, most new vehicles already come with some basic warranty coverage.

Used Vehicles

Choosing an extended warranty is a great way to save on the higher maintenance costs associated with well-worn models. However, you should still ask yourself how long you plan on owning the vehicle and find out what sorts of problems (if any) that the vehicle has had in the past. If you think you’ll still end up paying for repairs that aren’t covered, you might want to think twice before purchasing that extended warranty.

Many certified pre-owned programs include some limited warranty coverage. 

Are Extended Warranties Worth It? 

If you’re the type who likes to maximize the value offered by your vehicle, and you plan on owning the same model for years to come, an extended warranty is a smart purchase! Although you should consider your budget carefully, those working with tight restrictions might find that an extended warranty can help them avoid unexpected costs associated with major repairs.

Ultimately, an extended warranty is worth it if you want to enjoy peace-of-mind on all your drives through Caseyville and East St. Louis.

Talk Through Your Financing Options with The Auffenberg Dealer Group!

The Auffenberg Dealer Group is here to help with all of your auto financing needs. We can even help you value your trade-in or compare offers using our monthly car payment calculator. If you’re ready to take the first steps on a new adventure, contact us today for more information!

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