Can I buy an aftermarket warranty for my car?
Aftermarket warranties, which can be purchased from a dealership or a third-party provider, can offer several levels of coverage with various terms, often adding another five years or up to 120,000 miles. These terms only apply after the factory warranty expires.
How much does it cost to add extended warranty to a car?
An extended warranty plan from the dealership will usually cost between $1,000 and $1,500. Normally, the cost of an extended warranty is tacked on to your monthly car payment. However, one drawback to is you may end up paying interest on the warranty, and it becomes more expensive in the long run.
What are the disadvantages of an extended warranty?
Con: They Are More Expensive When Purchased Later The best prices, though, are when the vehicle is new. In addition, with a few miles on the odometer, you will command a top deal. For new cars, the service contract will not kick in for several years, usually near the time the original warranty expires.
Can you add warranty on a used car?
Yes, you can purchase an extended warranty on a used car. You can purchase coverage directly from a dealership when you buy your used vehicle or from a third-party warranty provider at any time.
Can I add an extended warranty to my car?
You can purchase an extended warranty through a dealership or a third-party warranty company that specializes in extended vehicle protection. Dealership extended warranties are purchased directly from an auto dealership or manufacturer.
How do I get my extended warranty money back?
How to get your money back. You can cancel an extended warranty at any time and youll get a prorated refund for the unused portion of your policy. If the warranty was included in your loan, your car payment wont drop, but you may pay off the car sooner after the refund is deducted from your balance.
Are extended warranties a waste?
Extended warranties are rarely worth your money. Products dont break on their own, and when they do, the price of repairs is usually lower than what youd spend on an extended warranty. Sure, some people have saved a lot of money with extended warranties.
What are the disadvantages of an extended warranty?
Con: They Are More Expensive When Purchased Later The best prices, though, are when the vehicle is new. In addition, with a few miles on the odometer, you will command a top deal. For new cars, the service contract will not kick in for several years, usually near the time the original warranty expires.
How do I cancel my extended warranty from a dealership?
To cancel your extended car warranty, you will need to fill out a form specifying your mileage and the cancellation date, and then you will need to get a signed copy of the form from the dealership.
How long does it take to cancel extended warranty?
Typically, the extended warranty flat cancellation period is 30 to 60 days after the date of purchase. Note: If you choose to cancel your extended warranty product, you will NOT receive a check in the mail. Your monthly payment remains the same unless you refinance.
