Car buyers are usually excited about purchasing a new vehicle and may not be concerned about warranties. All new cars come with a guarantee that provides peace of mind for three to seven years. Nevertheless, if you plan on keeping your car for any longer than that period, or if you’re purchasing a used car that’s beyond the manufacturer’s warranty period, you might think about taking out an extended warranty. Our goal as experts in car extended warranties is to help you see its benefits.
What’s An Extended Car Warranty?
An extended warranty is insurance that covers repairs after the warranty period of a manufacturer or retailer has expired. It can provide you with additional coverage when the factory warranty expires. If there is no warranty, you are responsible for covering the cost of repairs. You can also benefit from this warranty if you are concerned about budgeting repair costs. In this way, you don’t have to deal with unpleasant surprises down the road.
Different Sources To Buy Extended Car Warranty?
- You can buy an extended car warranty or mechanical breakdown insurance from three different sources:
- The manufacturer’s warranty, which you can buy when you buy the car or before the original contract expires.
- A contract is provided by a franchised car dealership or car supermarket.
- An independent warranty.
Benefits Of Car Extended Warranty
Convenience and Peace-of-Mind
There is nothing more stressful or disruptive than experiencing a car breakdown. Having an extended warranty allows you to help yourself when you need it most. In addition, your extended warranty will provide your customer with additional services like towing, hotel and meal reimbursement, as well as a rental car so they can get back onto the road.
Budget Protection
There can be damages in the event of a breakdown. Under their factory warranty, new car buyers are protected quickly. Still, as vehicle owners are now keeping their cars longer than ever before, they’ll likely exhaust their factory warranty within two to three years. The purchase of an extended warranty, such as Mechanical Breakdown Protection, assures similar customer protection after the manufacturer’s warranty expires.
Improved Customer Satisfaction
With the help of an extended warranty, customers can ensure that they are taken care of throughout their ownership experience. Also, you can be assured that you can bring your car back to the same place you bought it – so that you can take advantage of your connections and get unmatched quality and service, regardless of whether it’s a simple oil change or more complex repairs. You and your customer both win!
Greater Car Value
An extended warranty has a hidden benefit that most customers are unaware of, and that is the fact that the policy becomes more valuable as the vehicle ages. Having an extended warranty or being under warranty makes it more likely for the vehicle’s maintenance. If the customer decides to sell, it will command a higher trade-in value at the dealership since it is more trustworthy and valuable.
Everyone benefits from car extended warranties! The dealership can rest easy knowing that its customers are protected by a fantastic protection product and get the above benefits.
