Reasons to buy Extended Warranty for Car or Bike
Should you buy an extended warranty for your newly purchased car? The answer is YES! Here we list the reasons why you should consider buying extended warranty instead of default standard warranty which comes during your purchase.
4. Manufacturer’s Confidence
Who offers you an extended warranty? Only a trust worthy, reputed car or bike manufacturer offers it. What it means is, the manufacturer is confident about certain critical parts which you need not worry for long. Why not grab the opportunity of owning an extended warranty from your manufacturer when they are giving it? If something goes wrong 2 or 3 years down the line, they are here to save you.
3. The Longer, the better
In general the standard warranty from the manufacturer would be valid for two years. What if your engine breaks down or some damage happens to your vehicle’s critical component? You will have to pay the price by your hand. Instead, if there is a chance for you to get extended warranty better grab it, Having an extended warranty doubles up the warranty length adding more relief and peace of mind.
2. Replacement vs Repair
Getting a car engine replaced sounds better than car engine getting repaired right? That’s the difference. Warranty adds the freedom of your engine getting replaced when you encounter an engine malfunction. The extended warranty helps you increase the chances of being safe and the components with problems are replaced rather than getting repaired.
1. Comes at relatively lesser price
You need not pay a large sum to get the facility of extended warranty – the price would be around couple of thousand rupees which is 0.5 to 2% of your car’s actual cost. Paying a small initial price for extended warranty could save you from paying a hefty sum, for example 40,000 Rs for Air-conditioner or 20,000 Rs for fuel pump problems etc. If not completely, at the least you postpone such charges by extending the time through extended warranty.
Things to keep in mind while buying extended warranty
- When to buy an extended warranty?
- Is the standard warranty coverage is well enough for usage?
- How well is the reliability record of the vehicle model which you are purchasing?
- Who backs the warranty which you are buying?
- Is it possible to transfer the warranty?
- Can repairs and replacements can be carried out in any dealerships?
- What exactly is covered in extended warranty?