Like so many of us have learned the hard way in life: “you get what you pay for,” and an extended auto warranty is no exception. Now, I’m definitely not suggesting that you go out, find the most expensive warranty, and expect that you’ll have all the coverage you need. But what I want you to understand is that not all extended auto warranties are created equal, so you shouldn’t let the sticker price be your deciding factor.
Instead of looking for the cheapest, look at what you truly get for your money. One of the things I’ve found is that you’ll usually end up paying more out-of-pocket costs with a “hot bargain” plan than you would with paying a little more for a higher standard plan.
I’d also suggest that you read the actual contract and be aware of phrases like “at the sole discretion of the administrator” or “replacement parts may be used or recycled.” Keep in mind, you don’t need to nit-pick every little detail. Just make sure you fully understand what is covered, what is not covered, and how to properly file a claim so you don’t get stuck with the repair cost because of a technicality.
Overall, you should feel confident that you are getting the most bang for your buck and experience the peace of mind you want when purchasing an extended auto warranty.
