Two Types of Extended Car Warranties
An extended warranty is basically car insurance that protects you against expensive unanticipated repairs within a specified period and mileage range. True warranties are automatically included in a vehicle purchase, while extended auto warranties are a separate product.
These days, you will find two primary types of extended warranties: original equipment manufacturer (OEM) and aftermarket. Examples of OEMs are Chevrolet and Ford. Warranty or insurance providers having no direct connections with a car brand are considered third parties. Cars Protection Plus is an example of a company that offers third-party service warranties.
Two types of warranties that OEMs offer are powertrain and bumper to bumper. A powertrain warranty is meant to cover engine and transmission issues that directly stem from poor workmanship; a bumper to bumper warranty, on the other hand, covers most other problems that may crop up, including those that affect the car’s electronic systems (navigation, onboard computers, etc.).
In most cases, an extended OEM warranty’s features are similar to those that are provided with a new vehicle purchases, plus additional services like roadside assistance. It pays do your research on what these other services will be for different providers in your area. For example, in Murrysville, Pennsylvania, Cars Protection Plus is one of the best choices you have.
Cars Protection Plus
When choosing the right warranty, you may have to decide if you want a plan that comes with or without a deductible. Like most other types of insurance, a higher deductible lowers the total cost of the policy. The great thing is OEM warranty deductibles are usually under $200.
In most cases, third-party or aftermarket warranty providers like Cars Protection Plus offer practically the same coverage that OEMs offer. But of course, these two are still independent products, and third-party warranties can still vary, depending on the specific company. There will be different policies and different deductibles too.
Original equipment manufacturer and third-party warranties may also differ in the way they administer coverage. For instance, a third-party warranty may require you to pay out-of-pocket for a repair, and them file a claim to be reimbursed later. This process is not always quick, but as long as you go with a well-reputed provider like Cars Protection Plus, this ceases to be a problem. In any case, always know the payment expectations up front.
What you may find most advantageous with third-party warranties compared to OEM warranties is that they are incredibly cheaper. Sometimes, a third-party warranty may even be your only option. If you buy a used Toyota at a Ford dealership , for instance, it’s unlikely that you will be given a Toyota OEM warranty.
If you’re thinking of buying an extended warranty, be sure to read the fine print to the letter. Most of all, pick a good provider like Cars Protection Plus.