If you are concerned about expensive car repairs and warranties that cover those repairs, see these tips below:
*Always Read Warranty Contracts Before You Buy: It is absolutely necessary to read any contract before you sign it, be sure to walk away from any company that won’t show you the contract, it means that they are not a reputable company.
* Repair Shops: Be sure to select a warranty that will allow you to repair your car at any repair facility, not just at authorized shops or dealerships. What if your car broke down on the weekend when the authorized shops are closed…or worse yet, miles away.
* Be Informed on How Claims Are Paid: It’s simple, the reputable warranty companies will always pay the repair shop for the expenses directly.
* Know the Cancellation Policy: Most warranties can be canceled, however some can’t. Usually, you will have from 30 to 60 days to cancel a policy allowing you to get a full refund. Typically, all companies have a cancellation fee, around $50, which is deducted from your refund. Whatever the case may be, do not buy a policy that cannot be canceled.
* A Transfer Option: Inform yourself if there is a transfer option for the warranty that will increase your car’s resale value. It usually costs between $50-$75 to transfer the warranty.
* Inspect Your Vehicle: Get an inspection by a certified mechanic. This will help you avoid any denials or questions by the warranty companies claiming a “pre-existing condition”.
It’s always good to be informed on these kinds of topics, you never know when you will need an expensive car repair covered under warranty.