We need cars and we need cars that are reliable. The auto manufacturing business is booming but as consumers, we need to know what is best for us and our financial planning. What can you do to protect your investment?
Have you ever wondered, “What is a Manufacturer’s warranty?” A manufacturer’s auto warranty is a written contract between you and the manufacturer that states that parts and things that break down in your vehicle will be repaired or replaced during a very specific time period. After that expires, what can you do to get covered then? That’s when you need to look into an auto extended warranty which is basically an extended warranty on your vehicle.
What does an auto manufacturer warranty cover? This is one of the most common questions auto owners have. The warranty that comes with a car’s purchase or leased vehicle usually covers the parts and labor for repairs to a vehicle. It is important to read through the terms and conditions in the warranty before signing on the dotted line.
The original manufacturer’s warranty usually covers parts and labor. If the car is new, the manufacturer’s warranty will extend to cover repair costs only. However, many times it will also cover parts or the rental of a vehicle if the vehicle is out of service for a period of more than a month or is a write-off. In such cases, the warranty will not cover the full cost of the vehicle. The best way to avoid such scenarios is by ensuring the purchase is accompanied by a comprehensive warranty that covers all defects and all workmanship.
The term extended warranty is used to describe any warranty program that provides protection for more than one year. Usually, it is meant to cover repair, parts, and other services for an entire year. Extended warranties are sometimes offered exclusively by dealers, although there are some independent agents who offer extended auto manufacturer warranties as well. Before buying, ensure you are not being deceived by a salesperson or told something you don’t want to hear.
Sometimes the original manufacturer’s warranty will provide coverage for specific, limited circumstances, such as collision damage. An auto manufacturer warranty, however, will typically offer coverage for any damage resulting from conditions that are not covered by the warranty, including theft, fire, malicious vandalism or storm damage. Some automobile warranties also cover emergency roadside assistance and emergency rental assistance.
To find out what specific services are covered under your warranty plan, contact the company that provides the warranty. They should be able to give you the answers you need. A good warranty service provider will be familiar with all of the vehicles on the road, which means they should have experience answering questions about the make, model and year of each vehicle in their inventory. A good warranty provider will use this information to help you select the best plan for your specific needs. They should also be able to provide you with a list of vehicles that do not qualify for the warranty because of manufacturer liability issues, or because they are overpriced for their service level.
With so many different makes and models available, you need to make sure the warranty you purchase covers the vehicle you intend to purchase. Consider special cases for luxury vehicles. Ask your service provider what types of warranties are available for the make and model of your vehicle. While the majority of manufacturers offer standard warranty plans that will cover basic mechanical failures, you may find you need to purchase a specialty warranty. If the warranty the dealer offers doesn’t cover your specific vehicle, move on to another dealer.
You can also request a breakdown of the coverage from the manufacturer. Simply ask, “What does an auto warranty include?” You can also request a copy of the repair history of the vehicle, as well as any safety, odometer, water damage, and frame number upgrades performed by the repair shop during the last five years. Ask your warranty provider if they cover flood damage. Some policies will only cover flood damage, so it is important to ask about this.
If you are in the market for an extended auto manufacturer warranty, your best bet is to speak with a service provider that has extensive knowledge and experience regarding auto manufacturer warranty plans. You can speak with multiple companies and vendors, so it’s important to choose a source that will provide you with the answers you seek. Do a search online for any vendors. For example, olive.com reviews show that customers who have purchased warranties by the company, Olive, have had really good experiences. If you purchase a plan from a manufacturer that doesn’t offer a good value, or has unreasonable exclusions, you may find yourself in a poor financial position once the warranty expires. By knowing the answers to the questions above, you will be able to determine the appropriate plan for your vehicle.