Buying Extended Car Warranties: Pros and Cons of a “Grudge Purchase”
When money is tight, an extended warranty does not always seem like a top priority but, in reality, no responsible driver should be on the road without one. A less expensive plan is certainly an option, but there are some services that should not fall victim to a tight budget.
A good indicator of the workings of a warranty provider is how simple it is to get an auto warranty quote from the company that someone is considering. The best companies will offer a simple online form, where knowledgeable representatives have access to the information in just a few moments. If someone has to wait for hours or days to get a quote, imagine how long they will have to wait when they enter a claim.
Another good indicator of whether extended warranty companies will be a pleasure or a burden to do business with is whether or not they are accredited as an (A)FSP (Authorised Financial Services Provider). Any reputable business should be accredited because they will have nothing to hide. If a company is staying off the grid, it may be because they have had negative experiences and complaints from customers in the past, or simply not registered to conduct financial-related business.
It is important, especially for someone on a budget, to choose extended warranty companies that gives them a variety of choices. Customers should be able to choose between bumper to bumper, comprehensive and other coverage. Within those categories, customers should have a variety of options that will fit their particular needs and budget.
In addition to the basic needs, extended auto warranty companies should offer extended car warranties with some extras that make life a bit more convenient for customers. For example, roadside assistance and specific overnight accommodation may not be necessary, but they are nice (and very convenient) to have. If someone can afford these options, they should have the choice to add them to their warranties.
Although money is tight for many people, driving around without the protection of extended warranty companies can lead to even bigger financial burden. There are many affordable options, but they should still include the things that every driver needs. Instead of rolling the dice on the many problems a car could have, purchase a plan that can handle the most common situations without breaking the bank.