1) Are Extended Warranties Necessary?
You may be wondering whether an extended auto warranty is for you. An extended warranty picks up where factory warranty leaves off. While not car insurance, think of them as major medical insurance for your car and sanity insurance for you.
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2) Warranties on Used Cars
If you buy a certified pre-owned car, check your paperwork carefully - many such used cars come with some warranty coverage. Depending on the amount of time you plan to keep the car, you may also want extended warranty coverage.
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3) Warranty Exclusions
What's excluded from your extended warranty coverage? Drive train, rust, roadside assistance, normal wear and tear? That all depends on which policy you purchase. Each company has different levels of coverage available. Know your policy.
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4) Shop and Compare
Your dealer's friendly finance manager will pressure you to purchase one to protect you from financial loss later. Should you buy it from her? Or should you shop around and compare policies and rates?
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5) Avoid Bad Deals
The Internet is rife with stories about cheating dealers and bankrupt extended warranty companies that go bust in the night, leaving you with a pile of rubble! The experts tell you how to avoid such gloom and doom.
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6) Company Ratings
One-third of all cars experience failure once in any given year. If your car fails and your extended warranty has gone poof in the night, you're left holding the bag. Guard against this scenario by investigating your company's rating.
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7) Third Party Warranties
Should you purchase an extended warranty from the dealer or should you purchase an extended warranty from an independent third-party extended warranty company? That depends on how much you know about the warranty company.
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8) What to Look For
If you decide to purchase peace of mind with an extended warranty, compare several extended auto warranties from different companies to find only the coverage you need. Some to ask about extended warranties include...
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9) Warranty Limits
You'll get more services in exchange for a higher premium with extended warranties. That's a fact. But what's the difference between a basic policy, an intermediate policy and a deluxe policy - in general? Get the answers here.
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10) Zero Deductibles
Is a zero-deductible extended warranty for you? You'll pay more in premium payments each month, but you'll gain peace of mind. Is a zero-deductible warranty worth the extra money? What low-deductible options exist?
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11) Avoid Bad Companies
What two factors help you determine whether to avoid an extended warranty company? These factors are the most important things to look for in your extended warranty company. Do you know what those factors are?
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12) How the Dealer Profits
You should consider your car dealer your last resort for extended warranty purchases. True or False? If you purchase from a car dealer, you should pay no more than 2/3 the asking price on the extended warranty. We've got the answers.
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13) Dealer's Cost
Would you like to know exactly what your car dealer pays for the extended warranty sold to you? It's not difficult to unearth this useful tidbit. When you find out, you'll understand why they turn up the heat to try to sell you an extended warranty.
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14) Get the Best Deal
Manufacturers offer longer warranties these days, but often they do not cover many parts, leaving you to pay the remainder of the costs. Learn how to find and negotiate the best extended warranty deal for you.
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