Two Types of Extended Vehicle Warranties
An extended warranty is actually a type of car insurance that provides safeguards against costly and unforeseen repairs for a certain period of time and mileage. True warranties are automatically included in a vehicle purchase, while extended auto warranties are a separate product.
Original equipment manufacturer (OEM) and aftermarket are the two mind types of extended warranties available today. Examples of OEMs are Chevrolet and Ford. Warranty or insurance companies are considered third parties when they have no direct business relations with an automobile brand. One example of a company that provides third-party service warranty is Cars Protection Plus.
Powertrain and bumper to bumper are two kinds of OEM-provided warranties. A powertrain warranty is meant to cover engine and transmission issues that directly stem from poor workmanship; a bumper to bumper warranty, on the other hand, covers most other problems that may crop up, including those that affect the car’s electronic systems (navigation, onboard computers, etc.).
An extended OEM warranty often offers benefits that come with a new vehicle purchase, with added services such as roadside assistance. Research what such other services will be for various providers in your location. One of your best options – if not your best – in Murrysville, Pennsylvania is Cars Protection Plus.
Cars Protection Plus
When choosing the right warranty, you may have to decide if you want a plan that comes with or without a deductible. As with other insurance types out there, a bigger deductible automatically decreases the policy’s overall cost. What’s great is that OEM warranty deductibles are generally minimal (usually under $200).
A lot of third-party or aftermarket warranties, including those provided by Cars Protection Plus, provide similar coverage as those offered by OEMs. But of course, these are still two different products, and even the actual coverage offered by third parties can be unique. There will be different policies and different deductibles too.
Original equipment manufacturer and third-party warranties may also differ in the way they administer coverage. For instance, a third-party warranty may require you to pay out-of-pocket for a repair, and them file a claim to be reimbursed later. The process won’t be always be quick, but if you choose a reputable provider such as Cars Protection Plus, this will rarely be a problem. In any case, payment expectations should be known to you right from the beginning.
What might be the biggest advantage of third-party warranties is that they are substantially cheaper compared to OEM warranties. There are even cases where a third-party warranty becomes the only option you have. So if you purchase a used Ford at a Hyundai dealership, for instance, you sure won’t be given a Ford OEM warranty.
If you’re thinking of buying an extended warranty, be sure to read the fine print to the letter. Most importantly, buy from a reputable provider, such as Cars Protection Plus.