If you're interested in protecting your vehicle long-term, you may be interested in an extended car warranty. But how much does an extended car warranty cost, and is it worth the investment? In this article, we'll help you decide on the best extended warranty for your vehicle by reviewing average extended car warranty costs from industry-leading providers.
We'll also give tips on how to find cheaper coverage. As costs can vary by location, vehicle make and model, and more, we recommend getting personalized quotes from several companies and weighing all of your options before signing any contracts. Compare multiple free quotes to find the best price and coverage for your situation. Instead of having set rates, manufacturers and third-party providers use factors such as your vehicle, the level of coverage you choose, and your deductible to determine your extended car warranty cost.
Drivers looking for the same kind of comprehensive coverage offered by their factory warranty should look into an extended bumper-to-bumper warranty. This type of plan is similar to an original warranty and covers any mechanical breakdown except for a list of exclusions.
We reached out to four of the top reputable extended car warranty companies for quotes for a Honda CR-V with 45, miles and received the following prices. It's important to keep in mind, though, that each of these coverage plans comes with a different term length that has both a year and mileage cap. If you're just looking to protect the most essential components of your vehicle, you might consider a powertrain warranty , which covers the engine, transmission, and drivetrain.
We reached out to the same providers above for quotes for the same vehicle and received the following prices. Of the five providers listed above, Endurance offered the lowest overall extended car warranty cost. The company offers financing terms so you can space out your payments over several years if that's how you would like to pay.
The unlimited plan from CarShield may be cheaper than Protect My Car and CARCHEX on a monthly basis, but because there is no specified time at which your monthly payments would stop, if you have the plan for a few years, you could actually end up paying much more in the long run.
This is just one aspect to consider when determining which extended warranty is right for your lifestyle and budget. The cost of an extended warranty is determined by a variety of factors that differ from customer to customer.
Our representatives can also help you find a plan that fits your budget. Click here to get a quote with Endurance. The cost of a factory warranty is typically higher than a third-party provider as the dealership will often serve as a middle man, marking up the price of the policy. Endurance is a direct provider, meaning we develop our own plans to help car owners like you find the plans you need at prices you can afford, unlike third-party warranty providers such as CARCHEX or Carshield.
Request a quote online by filling out your name, vehicle information, phone number, and email address. You can also call to speak with an Endurance representative directly. A VSC is a contract between you and a VSC provider or administrator that states what is a covered repair and what is not. With these factors in mind, these are great policies to buy. Here is a look at how different factors affect the price of the premium, how much on average the protection costs and how you can save money.
To begin, prices may vary wildly depending on the policy provider you select. While each provider has their own eligibility requirements they use to determine the price, here are some factors that may affect the cost of your extended warranty:. Policy providers may charge you more if you have an older vehicle or one with higher mileage.
It is difficult to find a coverage provider that will sell policies for vehicles with , miles and higher. Simply, it costs more to protect a luxury vehicle such as a Lexus than it would a Ford. If you want the minimum coverage, which covers Powertrain you will pay less of a premium than if you want coverage that is more comprehensive. For example, some policies may only offer coverage on your electrical systems on the highest-level warranty. Considering that repairs to electrical systems can be costly, it may be worth it to buy the highest-level policy.
There are two types of coverage: exclusionary and inclusionary. Inclusionary protection plan covers only parts and units listed in the contract, white exclusionary policy will cover everything but those parts that are listed as exclusions in your contract.
Exclusionary policy will give you the most comprehensive level of protection and is usually more expensive. Your deductible is the amount of money you must pay before the policy provider pays the rest. But before you decide whether an extended warranty is right for you, there are some things you should know — like how an extended car warranty works, how much it costs, and the pros and cons of getting one. An extended warranty — also known as a vehicle service contract — is an optional plan you can buy to help you pay for the cost of certain repairs your vehicle may need while you own it.
Roadside assistance is typically a separate purchase as well. But much like the financing they offer, dealerships tend to mark up the cost of extended warranties to make a profit. You may also be required to pay a deductible. Deductibles are usually charged in one of two ways — per repair or per warranty service visit. It should let you know whether the car is being sold with a warranty.
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