Should I Get a Warranty on a Used Car: X Factors to Consider
Buying a pre-owned vehicle involves looking for efficient ways to finance it and dealing with repairs and maintenance once you purchase one. It also raises the question of whether you should get a warranty on a used car.
When buying a used car warranty, there are different factors to consider. In fact, there are various kinds of plans to choose from, each with its benefits for different drivers.
This blog discusses how important a warranty is on a used car and the different protection options manufacturers offer. It also talks about various factors to remember when buying a used car warranty.
Different Kinds of Used Car Warranties
Not all warranties cover the same vehicle components. It’s best to understand what each plan covers so you make the most informed decision for your purchase. Here are some of the most common coverages offered by companies and manufacturers.
Bumper-to-bumper
Also known as a basic warranty, bumper-to-bumpers are the most comprehensive used car warranty as it covers the components that break down due to normal wear and tear or manufacturing defects. It does not include batteries, tires, and damage caused by vehicle misuse.
A bumper-to-bumper warranty often has a set duration and a certain distance it will cover. Once the year coverage has passed or the vehicle has exceeded the mileage, the warranty will expire.
Powertrain
This kind of warranty covers major parts of the vehicle, such as the axles, engine, transmission, and other specific components. It also includes front- and rear-wheel drive systems, seals, and gaskets. Some manufacturers integrate this with a basic warranty, while others offer them separately.
Rust and Corrosion
This warranty covers components that are prone to rust and corrosion. Your vehicle’s surface and body paint are suspect to damage, especially when driving in a coastal or desert environment. While this warranty addresses rust and corrosion before the spread, its main purpose benefits only a vehicle’s aesthetic rather than its functionality.
Most manufacturers only offer this warranty as an after-sale service, as the damage may not appear early and may only materialize after exceeding mileage limits. You can’t maximize the warranty as it has expired.
Accessory
Vehicles today come with various accessories that contribute to their functionality and convenience. For instance, seat belts and airbags protect you during accidents, while sound and navigation systems make your drive more comfortable.
This warranty covers various original equipment manufacturer components to help you save on costly replacement parts and repairs.
Emissions
The federal government has required automakers to provide coverage for emission-related parts. The warranty protects drivers from any unforeseen mechanical failure, bad design, and defective parts that can be harmful when used.
Certain components are eligible for a warranty when emissions fail due to a manufacturer defect. This coverage often extends up to 80,000 miles or eight years. However, an emissions warranty is only valid when bought from the manufacturer before October 15th of the year of purchase or lease.
This warranty is also transferable, but the process is not automatic. You must follow certain procedures to enjoy the warranty benefits, such as presenting proof of ownership and filing out a registration card.
Should I Get a Warranty on a Used Car: 5 Factors to Consider
Manufacturer’s Original Warranty
Before getting an extended warranty for used cars, it’s best to know the manufacturer’s original warranty. They come when newly purchased vehicles are often transferable to a new owner.
Consider the remaining time and mileage on the original warranty and determine how long you plan to keep the vehicle. Doing so will help determine if you should get an extended warranty for used cars. Remember that original warranties expire whenever time or mileage reaches the threshold, whichever comes first.
Reliability Record
A vehicle’s reliability will help determine what kind of warranty is best for your vehicle. Do your research and check with the local car community to know the common and known problems for your ride’s specific model. Certain vehicles are unreliable, making a used car warranty an excellent decision.
However, some makes and models have a remarkable reputation for dependability. If you plan to get one of these vehicles, you are less likely to experience complications and issues. Enjoy your ride with peace of mind and confidence.
How Much You Drive
Most warranties cover a specific number of miles, typically 36,000 miles or three years. This assumes you cover 12,000 miles a year. However, if you drive more than that, getting an extended warranty for used cars for your protection may be best.
For instance, instead of the standard 12,000 miles, you go 8,000 miles over. This makes your warranty expire at a faster rate.
Ownership Length
Similarly, you must consider how long you plan to own the vehicle. Will you make the most of your purchase and use it for a long time, or will you likely trade it up after a few months? Determining your ownership length can tell you whether an extended warranty for used cars is worth purchasing.
Financial Stability
Being financially secure means you can pay for repairs and maintenance without breaking the bank. However, buying a used car warranty can help you save a few extra bucks if an unexpected major repair happens. After all, fixing or replacing components can be very costly.
There’s nothing wrong with being self-insured, regardless of how much cash you have. You can instead use the money for upgrades and customizations.
Bottom Line: Used Cars Deserve a Warranty
Should you get a warranty on a used car? There are factors to consider to help you make an informed decision. Regardless of the ride you prefer, driving behavior, budget, and expected ownership length, vehicle coverage can help you save costly repairs and replacement parts.
Protect Your Vehicle from Costly Repairs and Replacements
Repairs and replacements are unavoidable for your vehicle, regardless of how careful you are as a driver. Buying a used car warranty gives you peace of mind and protection from costly expenses. Know the different kinds of coverage and find the one most suitable for you.
Learn more about making the most of your used car by visiting the VIP Automotive Group blog.