WHEN IS THE BEST TIME TO PURCHASE AN EXTENDED WARRANTY FOR YOUR CAR OR TRUCK?
A common
misconception is that by waiting to purchase extended coverage, you will get
coverage for a longer time. Much like life insurance costs rising as we age, the
cost for a car warranty will rise as the vehicle ages and accrues mileage. You
will be offered the longest terms and the lowest rates for newer vehicles with
lower mileage.
Warranty Direct understands that you may have a new car warranty from the
manufacturer. Warranty Direct’s coverage is simply an extension of that, not
double coverage. The manufacturer's warranty has been factored into your price
quote. The more factory warranty you have remaining, the lower the cost and
greater the length of the warranty extension. In other words, you are paying for
tomorrow's coverage at today's rates. In addition, Warranty Direct’s Roadside
Assistance benefit may prove to be invaluable during the Manufacturer's Warranty
period.
FACT: The newer your vehicle, the lower the rates for extended coverage.
What risks do I have if I delay purchasing coverage?
-
Coverage costs rise annually as parts and labor costs rise. Labor rates have
risen by $15- $20 per hour in the past several years.
-
As
the vehicle ages and more repair data becomes available, many vehicles are
placed into higher rate classes. Once you buy coverage, your rate class can
not change.
-
As
the vehicle accrues mileage, it moves into higher rate classes.
That's the Warranty Direct difference.
A blanket of protection for your vehicle and peace of mind for you.