When Is the Best Time to Buy an Extended Warranty?
Choosing the right time to purchase an extended warranty may save you money down the line. An extended warranty typically begins after the manufacturer warranty expires. You can decide to purchase an extended warranty the day you buy the car, but you also have the option to hold off until later. It’s important to know that the price usually increases if you wait until your original warranty expires.
Timing-wise, if you want to buy a warranty, usually the time you buy the car is the best time. There are surcharges on most warranties if you wait to buy it later. In most cases, you can purchase a warranty on your car up to the time your vehicle is inside the bumper-to-bumper warranty period.
One big thing to know before you purchase a warranty is what time and mileage will work best for you. There are a lot of different combinations. Also, give thought to how much coverage you want.
Generally, you can go from basic coverage, all the way up to plans that cover maintenance. The price, of course, goes up with the higher levels of coverage. You can also usually choose a low excess amount, or save money on the cost of the warranty by paying a higher excess.
Why You Should Get An Extended Vehicle Warranty Sooner Rather Than Later
- You’ll Save Money
There’s not a motorist in the world who would say that they don’t enjoy saving money. The longer you wait, the higher the price goes. Because administrators see your vehicle as less of a risk when taking out a warranty as you buy the vehicle, you qualify for the lowest price.
- You’ll Never Have a Lapse in Coverage
Manufacturers will never notify you that your warranty is about to expire. This is because if you don’t know that you’re unprotected, you’ll have to bring the car in to get it fixed when something goes wrong. By getting an extended vehicle warranty before your manufacturer’s warranty runs out, you’re completely safe and there will be no lapse in coverage.
- You’ll Get the Best Coverage
Similarly to getting the lowest price, when your vehicle is still under warranty, you qualify for the highest coverage. As your car gets higher in years and in mileage, you might not qualify for the highest extended vehicle warranty. And without the highest level of coverage, you might be missing out on protection for important components. Getting the lowest price for the highest coverage is a pretty solid investment