An extended warranty is essentially an insurance policy on your car that provides protection against costly unexpected repairs within a particular span of time and mileage. True warranties are automatically included in a vehicle purchase, while extended auto warranties are a separate product.
Original equipment manufacturer (OEM) and aftermarket are the two mind types of extended warranties available today. Toyota and Chevrolet are two examples of OEMs. A third party would be a warranty or insurance company that has no direct affiliations with a vehicle brand. One example of a company that provides third-party service warranty is Cars Protection Plus.
There are two kinds of warranties provided by OEMs, namely, powertrain and bumper to bumper. A powertrain warranty covers engine and transmission issues that are related to workmanship, while a bumper to bumper warranty is intended for most other potential problems with the vehicle, including those involving the vehicle’s electronic systems (power seats, navigation.).
An extended OEM warranty generally has features that are similar to the benefits offered by a new vehicle purchase, but with the addition of other services like roadside assistance. It pays do your research on what these other services will be for different providers in your area. One of your best options – if not your best – in Murrysville, Pennsylvania is Cars Protection Plus.
When deciding which warranty is the best, you may have to choose between a package with a deductible and without. Like any other type of insurance out there, a bigger deductible will automatically reduce the policy’s total price. The good news is that OEM warranty deductibles are typically minimal – below $200.
A lot of third-party or aftermarket warranties, including those provided by Cars Protection Plus, provide similar coverage as those offered by OEMs. But of course, these two are still independent products, and third-party warranties can still vary, depending on the specific company. There will be different policies and different deductibles too.
Original equipment manufacturer and third-party warranties may also differ in the way they administer coverage. For instance, a third-party warranty may require you to pay out-of-pocket for a repair, and them file a claim to be reimbursed later. The process may take some time, but if you choose a good provider like Cars Protection Plus, this will hardly be an issue. In any case, payment expectations should be known to you right from the beginning.
What might be the biggest advantage of third-party warranties is that they are substantially cheaper compared to OEM warranties. There are even cases where a third-party warranty becomes the only option you have. So for example, if you bought a used Chevrolet from a Toyota dealership, it’s unlikely that you will get a Chevrolet OEM warranty.
If you intend to buy an extended warranty from a third party, make it a point to review the fine print thoroughly. Most of all, pick a good provider like Cars Protection Plus.