Why buy a car when you don’t have to?  One of the best ways to get a super deal on a new vehicle is to avoid having to be in the position of having to replace the one your present car because it has broken down and it’s beyond repair.  Being desperate rarely results in a good deal for the buyer.  Smart shoppers will anticipate the need for a new car or truck and begin looking at what’s available long before they actually need to purchase.  New car warranties should also be an essential part of your purchase.

Unless you are buying as a cash purchase, you should think about the great new car financing deals available.  Many consumers forget that the cost financing is just as important to their bottom line as the vehicles pirchase price. Whatever you save up front on the car or truck’s price can easily be lost over the course of your new car loan if without realizing, you sign up for a loan with a higher interest rate than you could have gotten by shopping around.  New car warranties can also be incorporated in your financing.

Always check with a number of potential lending institutions including credit unions and banks, as well as the manufacturer’s special finance deals.  After shopping around you’ll know you have gotten the best deal you could, or at least one of them.

How do you avoid a financial loss when your car is totaled?

 

New and used car buyers are potentially losing thousands of dollars when their vehicle is totaled after an accident or theft.  Many do not know that they can acquire an additional insurance policy when they first purchase the car.

 

Some auto warranty providers believe the reason many drivers do not take out Guaranteed Asset Protection (GAP) Insurance from their selling dealer is their lack of understanding the benefits of these policies.

 

Almost a million cars are written off in the US each year and many drivers are left owing a lot of money to their finance company as the insurance payout is far less than the outstanding finance balance on their car loan.  On higher value used cars this could amount to a few thousand dollars, especially if the car was recently purchased.

 

GAP insurance pays the difference between the insured value of the vehicle and the outstanding finance balance.  Recently there was a situation where a very expensive luxury car was written off following an accident. The difference between the insurance pay out and the outstanding finance balance $13,000 because the car was only three weeks into its finance contract term.  Because the owner had taken out GAP insurance the policy paid out the difference and he was able to buy another car without any additional out of pocket expense.

 

Many used car warranties purchased with the vehicle have their own built Gap Insurance as the extended warranties are cancelable on a pro-rata basis.  This is just another reason that a used car warranty turns out to be a very smart purchase.

With vehicle manufacturer’s current drive for safety innovation, extended auto warranty coverage requirements are changing rapidly.  Honda, one of most safety conscious vehicle manufacturers is proving that they have what consumers are looking for in vehicle safety standards.  Honda’s distribution of many of their 2007 and 2008 models include safety feature packages that sty within this frame of mind.  As drivers look at the many protective qualities of the newest cars and trucks, the other concern for consumers is vehicle care and extended warranty coverage.

Safety for inhabitants of a vehicle during a collision runs parallel to auto warranty coverage.  A driver can access more available safety features and auto warranty coverage flexibility than ever before. Consumers should be researching car warranties to protect the safest cars and trucks being built so far so that they can guarantee the upkeep and safety implementation for their vehicles whenever the need should come.

Lexus’ new pre-collision system is an important innovation to current automobile manufacturing and design.  Toyota/Lexus, in an effort to put safety at the forefront and add it as a strong selling point, are creating systems in cars that prospective vehicle buyers are demanding.  They are clearly on the bandwagon for safety and innovation. Vehicle buyers should research new car warranties to protect the new safety innovated cars being produced today.  This will help to build confidence in their cars and continually guarantee their upkeep and safety implementations when the needs arise.

An extended auto warranty can protect your automobile and is well worth the money spent to warranty these new safety features.  To keep your investment on the road for many years to come and keep it functioning properly dependable new car warranties are clearly the answer.  They will allow driver’s to get the amount of coverage needed to so that important repairs can be done when necessary.

One of our clients, we’ll call him Al Smith who asked for our assistance.  He purchased a 2002 Volvo with 58,000 miles form his local dealer.  Included with the purchase he also got an auto warranty.  It was one of the used car warranties offered by an insurance company.  Last December Al noticed a funny sound, since diagnosed as a pinging.  An Volvo specialist found a crack in his cylinder head, the gasket was blown over two rings, and it had a burnt engine block.

After inspection, the insurance company said that the damage was due to Al’s negligence and that he should have noticed the problem mush sooner. The insurance company said they will pay for the gasket, but not the balance of the repair which was more than $5,000.00.  He wanted to know if he had any recourse?

Answer: I don’t believe insurance-based used car warranties offer very good service or value for what they cost.  It would have been very difficult to detect any loss of power or misfiring of the engine, overheating, and the vehilce was taken in as soon as the pinging noise was heard. The argument that this is owner negligence just doesn’t make any sense.  If the vehicle had been fully serviced then his claim was legitimate. Get an independent engineer to write a report on the exact cause of the engine damage so that the claim can be brought to arbitration.  Used car warranties should always be written clearly. It always pays to spend a little more for a top rated auto warranty from a quality provider.

Do used car warranties that are transferable really boost resale values or do they just build buyer confidence?  

Everybody assumes that used car warranties have some value, but nobody really knows exactly how much? Some new car manufacturer’s have come out with longer powertrain warranties and have made them transferable to a vehicle’s second owner.  This may soon be able to help provide the auto warranty industry with a real answer. 

Some of Chrysler’s models sold after they started their transferable warranty program will soon be resold, and many of those new owners will need to pay the $50 fee to continue with the balance of the factory warranty. The question that remains is will they also pay a higher price to the car’s seller because the warranty is transferable?  

It is a difficult question to answer, but a leading authority and editor of a major automotive publication noted that a vehicle under warranty is most certainly worth more than a vehicle that’s not. It seems like common sense, and we always see a marked drop in vehicle’s resale value once it is out of warranty. 

There is no question that used car warranties will definitely enhance your vehicle’s resale vale.  Just make sure the plan you purchase is transferable. 

Auto warranty claims in the automotive sector for new car warranties are up by less than 1% in the first three quarters of 2007.  When we compare this with the first three quarters of 2006 this is very good news.  In new car warranty claims it is a very small change.  Automobile manufacturers are very pleased about this trend. 

For all of the auto warranty providers who also manufacture new vehicles, thereby providing new car warranties, this industry sector is definitely in the black.  Hopefully this financial trend that seemed to begin in 2006 will continue in the future.  Auto warranty costs as a whole have been somewhat flat since back in 2004.

There’s no arguing that 2008 is a very important year for the automotive industry.  Consistent recalls, the fuel crisis, and many public-relations situations have automobile manufactures struggling to keep their customers loyal.  It will be interesting to watch during the year to see what makes and models can avoid a continuous downward slide of sales.

The auto warranty world will probably benefit from the manufacturers will as consumers will be far more concerned about adding new car warranties to their vehicles.  The auto warranty business has been on the incline for almost a decade now as a good extended warranty has become one of the most important purchases someone can make with their vehicle.

Feeling the effects of 2008’s potential lackluster automobile performance, vehicle manufacturers automobile warranty divisions may play a pivotal role in enticing customers to make a purchase.  Manufacturer’s warranties will now become an all-important incentive for new and used car buyers.  Customers simply will not be able to avoid considering what warranty coverage a particular company offers.  Many auto warranty providers are now making adjustments to fit in better with this new marketplace.

A South Carolina man whose vehicle was still under warranty said he was an able to get repairs done in a timely manner.

Since the middle of last year this consumer has been trying to get his van repaired but has not been able to get complete satisfaction.  The car has been into the shop numerous times and after several months of trying promises were made that were not kept by the dealer. 

He contacted the auto warranty company that provided him with his coverage and asked them to assist in getting the dealer to complete the repairs.  Many used car warranties offered by some providers would not have gotten involved.  Auto Advantage Inc. was not one of them.  They immediately contacted the dealer and persuaded them to complete repairs in just 48 hours.  Needless to say the customer only has kind words for the representative and company that assisted him.  The customer adds, “I just believe that if you buy an auto warranty the people that sell it to you should stand behind it”.

Used car warranties can be quite a value when purchased on any used vehicle in your family.  In addition they will also increase the value of your vehicle as they are transferable when the vehicle is sold to the next owner.

Purchasing a new vehicle can be very difficult decision.  Even the highest rated makes and models, occasionally disappointed a buyer.  Some of the most highly rated auto manufacturers simply cannot avoid an occasional manufacturer recall or production error.  Carefully consider the car’s reliability record by researching the vehicle’s customer satisfaction history.  It is rare that you can anticipate the precise reliability of an automobile, but doing some research on its history will give you the telltale signs of what to expect.  Internet sites like Edmunds and Kelley Blue Book accurately rate new and used vehicles and give you a good idea of what to expect.  This can also help you decide whether you should be considering new car warranties along with the vehicle purchase.  Even when they vehicle is very highly rated and has an excellent repair history a new car warranty is an excellent investment.

Buying new car warranties when purchasing a car or truck from a dealer protects the buyer from unforeseen repairs.  Most auto manufacturers offer extended auto warranties backed by the company though the pricing is usually quite high.  A much better deal can usually be found on and auto warranty by searching the Internet.  New vehicles are one of the largest investments a citizen can make and should always be protected by the right coverage.

Whether it be from a manufacturer or aftermarket auto warranty provider, don’t be caught in the lurch when your car breaks down and tries to eat away at your savings account.