Are Used Car Warranties Worth It?

If you’re wondering if used car warranties are worth it the answer depends on the vehicle and your own individual circumstances. As vehicles age, the likelihood of parts wearing down and eventually failing to work increases. A common solution against life’s mechanical misfortunes after your standard vehicle warranty has ended is used car warranties.  

Whether or not you choose to cover your used car depends on your own individual needs and budget. Some drivers may choose to pay for repairs as they arise however most won’t be able to afford unexpected out of pocket expenses. In this circumstance, a used car warranty is worth it.

However if your used car doesn’t really have any major issues, you don’t want to spend too much money to protect yourself against problems that may never come up. Nevertheless warranty on a used car can provide considerable peace of mind.

To understand if used cars warranties are worth it we first need to understand the advantages and disadvantages. Although used car warranties are perfect for covering unexpected repairs, they’re not for everyone.

Advantages of Warranties for Used Cars

No Out of Pocket Expenses

No matter the type of car, the possibility of something going wrong is inevitable. As your car ages, the chances of needing repairs increase. If like many drivers out of pocket expenses are difficult to make, a used car warranty will help to cover repair bills. It’s common for used car warranties to cover the cost of towing your car to a repair shop, as well as roadside assistance and rental car reimbursement. If you’re unsure of what your coverage may include research Frankston used car dealerships and used car dealers Frankston.

Peace of Mind

A used car warranty helps to protect you against bank-breaking bills. For many car owners, warranties on used cars are worth the extra money just to know you’re covered if something is to happen. Visit used cars Frankston and used cars Mornington to explore an extensive range of quality used cars, sold with your protection in mind. 

Drive Your Car for Longer

If you’re interested in keeping your car for years to come, a used car warranty could be the best solution to stay protected. Making frequent out of pocket repairs may encourage you to sell your car. In this case, a used car warranty will effectively keep repair bills lower and help make staying in your current car longer more affordable. Both used cars Mornington Peninsula and used car Seaford have a range of used cars in stock, perfect for drivers looking to secure a quality used car in the long term.

Disadvantages of Warranties for Used Cars

Limited Coverage

Remember used car warranties don’t pay for every repair that your car may need. For example if your car breaks down, you will first need approval from your provider to cover the claim. If your warranty doesn’t cover a particular part, you’ll be out of pocket. In this case always be sure to read any potential contract in detail before signing. 

Expensive

If you have money to cover any potential repairs, it’s probably not worth getting warranty for your used car. Although a broken part could cost upwards of $1,000, you could likely save more money in the long term if you’re not covering weekly payments. But again this comes down to your own individual circumstances. 

You May Feel Tied Down to Your Current Vehicle

If you purchase a used car and get warranty you may feel hesitant to buy a different vehicle. If you do however decide to sell, perhaps the warranty isn’t worth it. Although used car warranties are transferable and can make your car more appealing to potential buyers, they won’t increase the resale value of your car very much. 

Where to Find the Best Warranty for Used Cars?

Used car warranties aren’t one size fits all. Different drivers will have different needs when it comes to coverage. To understand what works best for you explore used cars Mornington Peninsula and Frankston used car dealerships. Often used car warranties will vary depending on the type of car, location and a number of other factors. 

The only way to find the best type of used car warranty for yourself is to do your research comparing coverage types and costs. When it comes to finding a used car, it’s always best to buy a car that has a solid service history, because you can track what’s gone wrong and how it’s been dealt with. 

If you do decide to purchase used car warranty, look for auto dealers with a long history of providers. Used car dealers Frankston and Mornington Holden used cars both have a long history providing used car warranties for various makes and models. Discuss your own individual needs to make sure you’re clear on coverage entitlements.