While the manufacturer’s warranty on your car will expire within a set amount of time, an extended warranty is a way to ensure your car is still covered when the manufacturer’s warranty runs out.
There are many reasons to purchase an extended auto warranty – it can increase the sale value of your car, reduce the costs of repairs and parts, and even provide emergency roadside assistance if you find yourself in a bind.
Read on to learn about the four major benefits of buying an extended warranty for your luxury vehicle – you’ll quickly realize that it’s one of the best decisions you can make.
1. Increase Your Car’s Resale Value
An excellent way to protect your luxury vehicle is to purchase an extended warranty as soon as the manufacturer’s warranty expires. But you might be wondering: what happens if you decide to sell your car while the extended warranty is still in force?
Well, the extended warranty can be transferred to the buyer of your vehicle for a small fee – which is an attractive prospect for the buyer because it shows them that you have been taking good care of the vehicle, which gives potential buyers peace of mind.
Purchasing one of the best exteneded warranty for used cars can actually increase the resale value of your vehicle.
2. Cover the Cost of Repairs and Parts
Repairs and parts for Luxury brand vehicles such as Lexus, Bentley, BMW, Land Rover, Mercedes Benz, and Maserati can be extremely pricey. Repairs needed after the manufacturer’s warranty expires can easily run into thousands of dollars.
When you purchase an extended warranty, you can save a lot of money on expensive parts and repairs – especially if the car’s factory warranty is still in place but only covers a limited amount of repairs.
Purchasing an extended warranty for your luxury vehicle is the best way to ensure you’ll never pay for these costs out-of-pocket – saving you money in the long run.
3. You Can Choose Your Own Mechanic
As a luxury vehicle owner, you are probably aware that your car’s manufacturer warranty dictates that you need to take your car to a dealer every time you need a service or repair.
One of the best features of purchasing an extended warranty from a third-party insurer is that you can use your preferred mechanic as long as they are ASE certified. This is especially useful for luxury car owners whose local dealership is far away from where they live.
4. Emergency Roadside Assistance
Purchasing an extended warranty for your luxury vehicle isn’t just to cover repairs and parts after the manufacturer’s warranty has run out – an extended warranty will also provide 24-hour emergency roadside assistance.
If you ever find yourself stranded or cannot drive your car due to safety concerns, an extended warranty is there to help you. An extended auto warranty will also cover the costs of a rental vehicle while yours is being repaired, and can provide towing services.
Another excellent feature an extended warranty provides is trip protection – which means you don’t have to worry about the expenses for accommodation, meals, or getting your car to a mechanic if you find yourself stranded.
The Bottom Line
Many people purchase an extended warranty for their luxury vehicle to ensure that their asset is protected – others purchase one simply because it offers peace of mind.
Ultimately, the peace of mind that extended warranties offer is priceless because you don’t have to worry if or when something goes wrong.