When it comes to availing an automobile extended warranty, one must be able to know its advantages and disadvantages. These days, consumers are keeping their automobiles for longer periods of time. Due to the fact that their new vehicles are filled with complicated electronic devices and technological features, availing an extended warranty would seem like a viable solution. It’s a fact that even the most “charitable” original automobile warranties are only good for up to a decade. Usually, automobile warranties only last up to three years. Though getting an automobile extended warranty may seem like a practical choice, the pros and cons must still be considered.
Advantages of an automobile extended warranty:
Consumers can alter an extended warranty in order to fit certain needs. An automobile extended warranty can offer a wide array of products and services. An example of this is the provision of a 24-hour roadside assistance for brand new vehicles that do not have that kind of coverage from the manufacturer. An extended warranty is great for taking care of expensive repairs. As automobiles these days are getting more and more complex in terms of their technology, it can be costly on the part of the consumer when the system would fail. So, a car’s technological system is the main reason why an automobile extended warranty is a practical choice.
Disadvantages of an automobile extended warranty:
An extended warranty itself is costly. When it comes to this kind of warranty, the consumer hopes that his car will require more repairs than the cost of the warranty in the future, while the provider hopes that the car will not need more repairs than the cost of the warranty. In this scenario, the provider usually “wins” in the end; however, the price for having an extended warranty is still negotiable. There’s a possibility that the consumer will never be able to use the automobile extended warranty. One must keep in mind that it’s possible that an extended warranty will never be used. However, if unfavorable things do happen to the car, then having such a warranty can be quite beneficial.