What Is Extended Automobile Warranty?
Every electronic or electrical item sold in the market nowadays carries an express warranty agreement from the manufacturer. The extended automobile warranty is a similar agreement from the automobile manufacturers to its customers.
According to this agreement the owner gets relieved of numerous repair expenses on his vehicle over a certain period of time. The agreement also mentions in words about all the items that would be covered under the agreement.
So, once you sign up for your auto extended warranty, you get your automobile experience enhanced considerably. Most of the warranties nowadays also offer Roadside Assistance and Trip Interruption Protection.
These two facilities offer you ready assistance from the nearest authorized dealers in cases of flat tyres, mechanical breakdowns, gas filling, and so on. They are available no matter wherever you are. The warranties cover you even when you are in the neighboring countries of Canada or Mexico. Almost every auto manufacturer offers four years or 50,000 miles, whichever is earlier, basic bumper to bumper warranty. The basic bumper to bumper warranty offers reimbursement of repair expenses on every electronic and electrical item. The contract is an exclusive one, in the sense that only those items mentioned in the contract are not covered. Some manufacturers also offer three years or 36,000 miles, basic bumper to bumper warranty. One or two manufacturers prefer the powertrain plan instead of the bumper to bumper. There are basically four types of extended warranty plans. These are the powertrain, powertrain plus, stated component and the bumper to bumper plans. The powertrain plan offers warranty on the engine, drive axles and the transmission. This is the most basic and the cheapest plan. The powertrain plus plan, along with those included in the basic powertrain, also includes certain auto components which have a tendency to fail. The stated component plan on the other hand lists out those components which it intends to reimburse on repairs. And the bumper to bumper only mentions those which are excluded from reimbursement. The best time to opt for an extended warranty is when you buy your vehicle. This is because the cost of warranty on new cars is the least as compared to the older ones. The cost of a warranty is equal to or sometimes even lesser than the expenses on a single repair. Hence, it is always advisable to go for an extended warranty as early as possible. There are, however, other plans also available in the market depending on the type of manufacturer and the requirements of your vehicle. Your most suitable plan will depend upon the way you use your car and your budget. Heavy users should go for an expensive extended automobile warranty. On the other hand those who seldom go out on long drives should opt in for the cheaper ones.
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