When it comes to protecting the investment
you have in your vehicle there is no better
way than a warranty. Buying a warranty is
buying a service contract that guarantees
the warranty company will pay for expensive
repairs and not you.
The first question most people ask is “what
if my car never breaks?” According to
ConsumerReports.org “the average three
year old car has 55 problems per 100 vehicles”.
That’s not very surprising to anyone
who has ever owned a car.
It’s also not very surprising that car
repairs are expensive, and the newer and more
sophisticated cars are becoming increasingly
more expensive to fix. The average cost to
repair an air conditioning system for example
is $825. Over the next five years repair costs
are going to increase about 35%. So that $850
air conditioner repair today is going to cost
about $1,150 to repair when it breaks 5 years
from now. One covered repair can pay for the
entire warranty!
Component
(average cost to repair):
• Engine - $2,300
• Transmission - $1,800
• Brakes - $1,050
• Onboard Computer - $875
• Air Conditioning System - $825
• Starter - $300
• Oil Pump - $450
• Radiator - $380
Not only do you save money on repairs but
many warranties also include added benefits
such as 24/7 roadside assistance, towing,
car rental reimbursement, and travel interruption
protection.
A much overlooked benefit of warranty coverage
is a vehicle still under warranty has a much
higher resale value. This is an additional
added value that makes warranties financially
more attractive.
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