If you’re like any average consumer out there you’re always wondering if the price is really worth the product. So when it comes to buying a used warranty I’m sure the thought has already crossed your mind. You want to know if the overall price is going to be a good investment, or if you’re better off without one.
While I can totally relate, it’s also important to understand that a used warranty isn’t just a product. It involves risk. You never know what can happen, and frankly, I hope nothing ever does happen. To me, a used warranty is like having health insurance: you would never want to risk being without it, but you also hope you never run across any major medical problems.
In most cases, the simple peace of mind you’ll experience having a used warranty will be payback enough. But in some cases you’d shrink to think what kind of a mess you’d be in if you didn’t have one, like our customer Patrick G.
Patrick drives an Audi A4 and probably went through the same thought process you’re going through before deciding to purchase his service agreement with Motor Vehicle Services. Altogether he paid $3600 for a 3-year, 100,000 mile extended warranty. But over the life of his contract his paid claims totaled $10,153 for a transmission, air conditioner, and several engine parts. Wow, let’s see…so $10,153 minus $3600 equals $6553 he saved. Sounds like a good investment to me.
Patrick has since renewed his service agreement. I guess he enjoys the peace of mind, as well as the financial rescue he’s experienced. Though I can’t guarantee that kind of return on every used warranty, I can say your only regret will come if you run into a major repair without one.
