Asking the right questions will get you the right answers which will enable you to take the right decision. Indeed, we are talking about getting an extended automobile warranty and the questions you must ask before saying yes to any plan.
Have you got multiple price quotes?
This is one of the first things you have to do when looking for an extended warranty. Contact multiple dealers and get price quotes for a particular type of plan. The final price may vary from dealer to dealer but shopping for multiple price quotes will give you:
An understanding of the components of the plans.
The nature of deductibles.
The various aspects of the coverage plan and so on.
What is the reputation of the dealer?
When you visit the website of the warranty provider, do make it a point to find out the reputation of the dealer. Some of the things that you can do:
Check to see whether the business is BBB recognized.
Does it have any other certifications to its credit?
What are the insurance companies that administer the plans for the dealer?
This will give you the immense amount of confidence you need in selecting the right extended auto warranty plan and ensuring that it works for you.
Can your wallet withstand major repair bills?
A lot of people state that there is no need to purchase an extended warranty. The thing to keep in mind here is the possibility of repairs happening once the original warranties have expired. Depending on the make and model of your car, getting a new engine or transmission can cost you around $4000. So the question is whether your wallet can take on this sum. An extended warranty can certainly help you with meeting such bills.
What is covered and for how long?
You can choose between plans depending on what is covered. For instance, you could find a plan that covers your Power Train. Or you could go with a comprehensive coverage plan or even a stated component coverage plan.
You should also find out the duration of the coverage. Most extended auto warranty plans can stretch up to 7-8 years so if you are planning to keep the car for a long time, then it is good to have this kind of insurance to fall back on. Websites like http://www.paymyrepairs.com can assist you in taking a decision.
You may also, depending on your personal plans, like to find out about the transferability of the plan.