Buying a used car can be a wise decision. A used car often costs thousands of dollars less than a brand-new one, and it is possible to buy a high-quality used vehicle if you know what to look for. But there are some risks any time you buy a used vehicle. This is why purchasing a used car warranty is highly recommended.
While you will still need auto insurance, a used car warranty adds an extra layer of protection. You can opt to purchase a used car warranty from an auto dealership when you buy a used car, or you can add an extended warranty on your own at any time. Some of the top reasons why you should buy an extended warranty for a used car include:
Protection from Large Unexpected Repair Bills
You can carefully maintain your used car, but unfortunately, even cars that are well cared for will develop wear and tear over time. The older your used car is and the more miles it has, the more likely it will need repairs as parts wear out and need to be replaced.
Car repairs are a hassle, but these are part of owning a vehicle. However, no one wants to hear that their used vehicle needs a new radiator or a replacement transmission. Some auto repairs cost hundreds of dollars, while others can cost more than $1,000. A surprise auto repair bill can be hard on a person’s budget, especially since most car repairs are unexpected.
When you have an extended auto warranty for your used car, you will be protected from large repair bills. During the warranty period, repair bills will be covered, so you won’t have to worry about paying hundreds or thousands of dollars out of pocket to have your vehicle fixed.
Monthly Payments Available
If you opt to purchase an extended auto warranty when you buy a used car at a dealership, you can typically add the cost of the warranty to the amount financed. However, there are many situations where someone may not buy an extended car warranty through a dealership.
One great thing about extended auto warranties is the fact that you can buy one at any time. In some cases, a person may be interested in buying an extended auto warranty for their used car, but they may not be able to pay for the total cost of the warranty in full. Luckily, many third-party auto warranty companies offer monthly payments.
The availability of monthly payments makes an extended auto warranty incredibly affordable. All you have to do is make one small payment each month, and you will be protected from having to pay expensive bills when your vehicle breaks down and needs repairs.
Great Flexibility
The manufacturer warranty that comes with a new car is quite rigid and can’t be changed. Extended auto warranties for used cars are a bit different. With an extended auto warranty, there is a lot of flexibility, which makes it easier to customize a warranty that best suits your needs.
When you begin shopping for an extended auto warranty to protect your used car, you will find a lot of different options available. The third-party companies that offer extended auto warranties will work with you to create a warranty that fits your budget and has terms and conditions that are in line with what you’re looking for. You can also determine how long your extended auto warranty lasts.
Ability to Keep Your Car Longer
Most people are very excited when they make their last car payment and know that their auto loan is completely paid off. Owning a car without having to make monthly payments for it can save a person a lot of money. However, by the time a used car is paid off, it may be a bit older and start developing problems.
No one wants to trade a car payment for ongoing repair bills. In fact, when a car gets older and starts needing repairs, many people opt to buy a new vehicle and start all over with payments. If you have an extended auto warranty for your used car, you will be able to keep it longer since the cost of repairs will not pile up and drain your bank account.
Driving a car that is completely paid off for several years can save you thousands of dollars. The price of an extended auto warranty is well worth it if it means that you can put off financing a vehicle and making monthly payments.
Peace of Mind
A lot of people have to budget carefully to ensure that all of their bills are paid and their needs are met. This means that an unexpected car repair bill can be a big issue, especially when a budget is tight. If you drive a used car, you do not have to live with the worry of your vehicle breaking down and having to spend hundreds of dollars to have it repaired.
An extended auto warranty provides a good amount of peace of mind when you own a used car. You can rest assured that you will always be able to have your used car promptly repaired when you have an extended auto warranty. There will never be a situation where you don’t know how to pay for repairs, nor will you have to max out your credit cards to get your car fixed.
Final Thoughts
Opting to purchase a quality used vehicle makes a lot of sense. This is especially true if you’re on a tight budget and the price of a brand-new car is out of the question. But, when you own a used vehicle, you also need to be prepared for the car to need repairs.
Buying an extended auto warranty for your used car is an excellent and affordable way to protect yourself from expensive auto repairs. You can choose to purchase an extended auto warranty at the time you buy your used car, but it is also possible to purchase an extended warranty at any point, whether you have owned the car for a month, a year, or longer.