Tips for a Successful and Useful Purchase

The savvy shopper knows that many extended warranties aren’t used. High-pressure, point of sale warranties, such as those on consumer electronics don’t give you the option of comparison shopping, and as such, are ill-advised by consumer experts.

The exception on warranties across the board is the vehicle warranty – if you do your homework.

From an article in the Houston Chronicle:

According to the Insurance Information Institute in 2004, the U.S. auto insurance industry paid out $66 in claims for every $100 in premiums.

You’ll want an extended warranty to spread the cost of maintaining or fixing your car or truck over the years. Few of us are able to come up with the large lump sum that major repairs tend to cost.

However, just because purchasing extended coverage on your car is something you’ll have to do anyway, doesn’t mean you should take the first offer that comes.

Keep the following in mind when you’re ready to buy:

• Comparion shop to see what the best rates are for your vehicle.
• When you find a good rate, get it in writing.
• Don’t just take the rate that is the cheapest, either. Find out what’s covered for that price.
• Is there different coverage for used cars?

Vehicles, by nature, are more likely to get worn down and need repair the more you use them. Having a plan for this inevitability is just common sense.

See Also

• Auto Industry News and Warranty Advice
  Stay informed and protect your automotive investment