When purchasing a new used car, the question of the extended warranty always resurfaces. Certainly, the extended warranty is a guarantee of protection against mechanical breakdowns that may occur once the manufacturer's warranty has expired. But the real question remains: is it really necessary, or even indispensable?
What is an extended warranty?
It must be understood that each manufacturer first offers a warranty on the vehicle. This warranty is valid for a certain period of time or mileage. It protects against mechanical breakdowns, not against wear and tear or vehicle maintenance such as oil changes, brake replacements, etc.
The extended warranty extends the warranty and covers the cost of repairs for breakdowns that may occur after the end of the manufacturer's mechanical warranty. The duration and scope of the extended warranty are defined in a contract. This includes, among other things, the covered and uncovered elements and the procedures for honoring the warranty.
What are the benefits of an extended warranty?
Sometimes, unexpected mechanical breakdowns can prove to be quite costly, making the extended warranty very advantageous, especially if you have a tight budget. With the cost of parts and labor, if your vehicle does not have an extended warranty, you expose yourself to quite high repair costs.
Furthermore, the extended warranty is transferable from one owner to another and increases the reliability and resale value of the vehicle.
Do you need an extended warranty?
The answer depends on your tolerance for risk and your ability to afford major repairs without affecting your budget. Even if your vehicle is reliable and in very good condition, you are not protected against unexpected breakdowns. Several factors related to our Quebec environment increase the risk of breakdowns, such as road conditions, winter cold, road salt, etc. Regular maintenance and regular visits to the garage greatly reduce the risk of breakdowns.
The extended warranty is also useful in cases where certain parts are much more expensive than others. The cost of a part varies from one model to another. For example, maintaining and repairing a Honda Civic costs less than maintaining a luxury brand vehicle like an Audi or BMW. Often, these brands require more expensive parts and the intervention of a specialized mechanic, which increases the bill.
To make an informed decision, it is necessary to calculate and compare. In any case, an extended warranty undoubtedly provides peace of mind, so think it over carefully!
