Everyone Should Believe in Auto Warranty
Step Into The Auto warranty.
Why Purchase an Auto Warranty?
You may wonder why even consider an auto warranty if it may not cover what you need it to cover? That’s the point. You do need an extended warranty in most cases. An extended warranty allows you to have things worked on should a part go bad that you thought was in good working order when you bought it. But warranties do not cover every part. They also have specifications or contingencies that must be adhered to in order to redeem your warranty.
A warranty is a type of insurance that most buyers don’t think they’ll ever use. This is why many buyers decide to forget purchasing an extended warranty completely. But is this the best decision to make?
Car insurance is required, but warranties are not. So this is considered an extra type of insurance that many feel they don’t need. But, like insurance, you only need it when you have a problem with an auto part. When something does go bad, do you really have the $1000 or more it might take to replace the defective part?
Reasons for Purchasing an Extended Warranty
Below are some of the most popular reasons that people purchase an extended warranty. Think about whether any of these reasons apply to your situation.
Is there a deductible?
Some warranties have a deductible that you must meet first. Like insurance, if your policy has a deductible, this means that you must pay in a certain amount (the amount of your deductible) before being able to use your warranty. Once the deductible is met, you will be able to cash in on your extended warranty which will pay the rest of your bill for repairs.
Does a warranty have cash value?
A warranty does not hold any cash value other than the value that is included when having repairs done under the warranty. In other words, you cannot make any money from it, unlike some insurance policies such as Universal Life, which allow you to get cash out of your policy if you need it.
Warranties work by agreeing to take on the expense of the repairs rather than you having to pay for them yourself. But again, warranties do not cover everything. Read the fine print before signing!