NE Auto WarrantyWhen you are investing in a vehicle, the warranty added can be such a great asset as it protects you from costly repairs or issues in the future of your vehicle’s operation. If you don’t know if the vehicle comes with a warranty or not, you want to make sure with the dealer or seller that you are purchasing the vehicle from in order to see whether your vehicle is covered or not. Establishing there is a warranty on the vehicle isn’t your last step, as you want to determine the coverage offered so you can see whether it is appropriate or not.
An auto warranty is often a purchase perk of new vehicles or even used vehicles from the car dealership. There are two forms of these types of warranties:
· Manufacturer’s warranty
· Dealership warranty
The differences between the two typically are the location of repairs available and the coverage over the vehicle. With manufacturer warranties, you generally have more coverage over the vehicle than if you are getting a dealership vehicle, with more options for repair locations with manufacturer’s warranties as a dealership warranty typically dictates repairs at a dealership related.
Every warranty has a time length, after which coverage is discontinued. However, if you want to ensure that your vehicle’s repairs are covered longer, giving you better security over your investment, you can often times obtain an extension on the warranty, or an extended warranty.
There are different reasons that you could choose an extended warranty, including:
· Increased security over financial investment in vehicle
· Various repairs in the past that could return in the future
· Inability to repair vehicle yourself
· Inability to accept unexpected repair costs for the vehicle
Definitely take the time to review the extended warranty terms to ensure that the coverage you expect is provided. These warranties can include the same terms as the original loan, but can also offer more or less coverage depending on the provider.
Extended Warranty Transfer
If you are selling a vehicle that is warrantied, either by the dealership or manufacturer, you may want to check into whether or not the extended warranty can be transferred to the new owner. This could be a great perk in the deal, giving the vehicle more value to potential buyers.