Car warranties and extended warranties, in particular, can be incredibly useful additions to owning a vehicle, but understanding the best used car warranties and what goes into making them is essential to get the best from them.
Every warranty and provider has a different offering to make, and they all change what is covered and how practical the warranty can be. Each has its own pros and cons behind it, and it usually becomes a balancing act to find the best value for you as an individual.
Every one of these key areas has a massive impact on the quality and value of the warranty service you receive. Each is just as important as the last, and all of them need to be factored into your final decision to get a true best used car warranty.
Cost Vs Value
The main area to consider above all else comes from the idea of cost vs value. Warranties can cost anything from £50-£100 right through to the better part of thousands, and each one has something different on offer to justify the price that you’re paying for it. That’s the first place you need to give consideration.
Cheaper warranties, for example, are typically lower quality until you get to the competitive range of a few hundred, where competition is the driving force behind the price. The really cheap providers usually mean you have a very low level of service, bordering on the pointless as limitations prevent any actual use, and the more expensive are often so expensive that for low-value cars or older cars, even though more likely to have issues, the risk is not worth the cost. It’s a trade-off.
In addition to finding the best fitting extended used car warranty using price and quality as indicators, it’s also a good time to remember that reputation is another major factor in deciding which warranty is going to be the right fit for you. Just like with car makes and models, warranty providers have their own way of operating.
They have their own standards, procedures and packages, which all come together to give you the service that you’re paying for. Finding out from other customers or industry specialists in things like reviews and any other way possible can tell you a lot about the worth of this provider. How likely they are to deliver, to argue and the quality of their customer service are all essential to having a valuable warranty.
Additionally, remember that you need to understand what it is that you’re paying for when trying to identify the best extended warranty for your used car too. You need to find a price that fits the need you have, and that will last you the extent required.
An expensive warranty is often more justifiable if it lasts a number of years, whereas a cheap warranty that lasts something ridiculous like a decade can be hard to make the most of realistically. It’s a big balancing act to make sure you’re finding something of the right value, but that still is going to provide what you need, especially if you’ll be stuck with it for years.
Give it some serious thought and think about what you need from the warranty and the vehicle you’re getting it for.
Moving into areas with more depth, it’s also very important to consider the coverage that is coming with your warranty. Understanding what you are and aren’t covered for is the only way to realise what is and isn’t going to be a good fit for you. On top of that, it’s also the only way to find out the coverage restrictions that you’ll be facing too, which could invalidate the whole thing altogether. This is where understanding what extended warranties do and don’t cover is so important.
First and foremost, read about what your service provider is including in their extended warranty package if you really want the best for your vehicle. Some packages will include everything you can think of, from minor accidental damage to the cosmetic of the car as it is with really comprehensive packages, right down to the barebones power chain, where only the engine is really covered. It all depends on your particular package, but don’t assume full coverage.
Remember that many warranty providers will cap your mileage. Just like with car insurance having a capped mileage means you are only covered as long as you stick to your designated mileage. Any more can invalidate you, and if it’s not something that is realistic for you, that package is definitely not going to be the best extended used car warranty for you.
Also, remember that many warranty providers will only use designated garages. They may have their own ways of doing things bad waiting times, poor service, or any other number of problems that can come along with having work done. It’s a roulette, but if you’re not comfortable with using a provided garage, make sure you find a warranty that can accommodate that in their package.
Lastly, remember what the required maintenance is in the contract of your warranty before you commit to anything. Even if something ticks every other box you have and you feel like you’ve found the best extended used car warranty without a doubt, remember that you may need to do a lot of the upkeep work yourself in order to keep it valid. Check how often you need to service the vehicle how that affects your annual expenditure alongside the warranty to justify the price, and combine that with the points above. Make sure it’s viable in the long term, even if it sounds great.
Terms and Conditions:
Finally, it’s also vital that you understand the terms of your agreement if you’re really looking for the best of the best with extended car warranties. The terms and conditions cover everything that we have already looked at, but they also go on to include a lot of the law surrounding extended warranties which can cause issues for policyholders, too. These small intricacies and world choices have a massive impact on your responsibility as a warranty holder, and if you miss them or even misunderstand them, you could well be left with the bill for a repair even if you believe you’re covered for it.
In brief, betterment is where a part that needs to be replaced is swapped for a better part, say, if your original part isn’t available, and you’re eligible to pay the difference due to having a better part fitted. That could well mean your great warranty isn’t so great, since you’re still left to pay for a new part which you may have been able to get for yourself, cheaper.
Wear and Tear
Most warranties, even extended warranties, don’t cover wear and tear. If the best extended used car warranty for you is based around things like helping you with your tyres, brakes, cosmetics, or any other part that will need to be replaced regularly, make sure you pay attention to that in your terms and conditions. If it’s likely to go wrong, it’s likely not covered, and that’s a good rule to remember. Only high quality services like our own can really give you a good, honest service.
Finally, it’s also a great idea to check if labour costs are included in your extended warranty, too. If it isn’t, you may be liable to pay the labour costs for any work that you have done, and if you happen to need a substantial amount of work, even if you’re covered, you may be liable to pay labour. With mechanics charging around £20 per hour, that can soon add up to a bill even higher than the part. It can add up, and does separate the quality of many warranties.
Ultimately, the best extended used car warranty for you may well not be the best car warranty for someone else. It all comes down to you, your car, your needs, and your financial situation. Find a good fit for you that you’re comfortable with even if the worst should happen, and thigh in the long term rather than the short.
Keeping these things in mind is a sure fire way to give yourself the best chance at finding the best extended warranty that you possibly can, and it all comes together in helping you find the best deal.
For more information about the extended warranty that Carexamer is associated with, or for more about pre purchase inspections and how they can be a great alternative to making your purchase safer, contact us today.