Are Extended Warranties Worth It?

An extended warranty offers prolonged warranty coverage in addition to the standard warranty on your new vehicle. That means you’re covered for a wider range of electrical or mechanical breakdowns, for a longer period. Still, many new car buyers are unsure about the extra cost, so we often get questions like this one: should I buy extended warranties or not?

So, are extended warranties worth it? That depends on the warranty, the vehicle, and the challenges you expect to meet on your daily drives through Beavercreek. In the guide below from Key Chrysler Jeep Dodge Ram FIAT, the finance experts take you through the pros and cons of extended warranties.

What Is An Extended Warranty?

New Chrysler, Dodge, Jeep, Ram, Fiat, Wagoneer vehicles are covered by comprehensive and powertrain warranties that cover breakdowns caused by manufacturer defects. Extended warranties allow you to add coverage that goes above and beyond standard coverage — including damage that results from normal use, theft protection, and cosmetic coverage. You can also add extended powertrain warranties that cover a broader range of breakdowns in your engine, transmission, and drivetrain. 

Right about now, you’re probably asking yourself, “So… should I buy extended warranties?” Keep in mind that coverage varies by manufacturer, and the coverage you need will depend on what kind of driving you do. Fortunately, warranty coverage is highly customizable — so you can pay for what you need and nothing you don’t.

Should I Buy Extended Warranties?

The cost of warranty coverage will vary depending on which coverage you choose, and other factors like the age of your vehicle. So, are extended warranties worth it for you? If you drive a brand new vehicle, extensive coverage may not be worth the cost. If you drive an older vehicle, extended coverage may be the smartest option — even if you have a perfect maintenance record. 

Consider the expense if your car were to experience a major mechanical failure far from your home in Springfield. Not only would you owe the full cost of repairs, but you’d be footing the bill for alternative transportation.

Explore Your Auto Coverage Options in Xenia 

Still not convinced that extended warranties are worth it? Our team is happy to provide a more detailed explanation of the benefits of extended warranty coverage. Contact us today for expert car-buying tips for drivers in the Wilmington area.