Do I really need a warranty on my new car
After you purchase or finance a new, or new to you, vehicle, you will likely feel bombarded by questions as to extra options that are available for your vehicle, added security features and of course, a number of warranties will be made available.
It may seem like a lot, but there are a few hard and fast rules when it comes to figuring out, “do I really need a warranty on my new car.”
The first rule is to consider what kind of warranty already comes with your vehicle. Typically if you purchase a brand new vehicle, it will come with some sort of manufacturer’s warranty. The type and inclusions are dependant on the vehicle’s make, but typically the manufacturer’s warranty will cover any issues for 3 to 5 years or 36,000 to 60,000 miles, whichever comes first. Although some stray from that typical duration, this is the average.
There is also a powertrain warranty that comes with brand new vehicles, which can cover anywhere up to 10 years or 100,000 miles, whichever comes first. This type of warranty is typically only available, though, to the original owner of the vehicle.
So typically, when you purchase a brand new vehicle, it’s not necessary to get any additional extended warranties, unless you have a bad track record with luck or plan on your vehicle is a luxury one with lots of gadgets and techy-features.
Say you purchase a new-to-you vehicle and the manufacturer’s warranty ran out. The next question you will likely get from any financial expert is whether or not you want to purchase an extended warranty?
Generally, purchasing an extended warranty isn’t actually worth the money. I know, crazy that we’re saying this right? Well, take it as more proof that we actually care about our customers and want what’s best for them.
The reason purchasing an extended warranty isn’t usually worth the cost is because a lot of what may go wrong with pre owned vehicles won’t be covered. For example, many wear and tear parts, or parts that will eventually wear out, aren’t covered. If you want to have peace of mind though, and do want to purchase some sort of warranty, we recommend going with a certified pre-owned car warranty.
For more honest information about warranties or any of our vehicles in stock, feel free to call our financial experts at 780-809-1989.