Car trouble is never fun. Not only are you adding immense amounts of stress, but you’re also throwing unreasonable amounts of money at repairs and preventative maintenance. With an extended car warranty, like Carshield, you may find you’ve figured out how to delete that worry once and for all.
What is an extended car warranty?
In some circles, an extended car warranty may be known as a “Vehicle Service Contract,” and it is, at its core, a layer of protection against the costs of major mechanical issues in your car. Different levels of extended warranty cover other breakdowns and repairs, but all of them serve to shoulder the majority of the financial burden in the case of catastrophic mechanical failure.
When you buy a used car, the extended warranty is often included in the price or offered as an add-on. This means you’ll be paying a monthly payment with your car payment to cover the costs of the warranty in the understanding that when and if something significant happens to your car’s mechanical workings, they will be able to repair it quickly and get you back on the road without breaking the bank.
What does it cover?
Depending on the warranty plan you choose to purchase with your new-to-you car, an extended warranty covers everything from tire failures to break issues and transmission damage to a radiator leak. Unfortunately, you’ll need to carefully consider the fine print because some of these covered items lose their coverage if you tamper with them or break them due to neglect or everyday wear.
No more pinching pennies
Let’s face it, most people aren’t very good at saving money in the long run, especially not when the end goal is boring. That’s why warranties are preferred among those that can’t afford a sudden repair bill and those that are rougher on their cars than the average driver. Instead of breaking down and suddenly needing to shell out several thousand dollars, if you’ve been paying into your warranty, you’ll only need to cover the deductible on the contract before the warranty takes care of everything else.
Seven more tips for saving money on your car ownership adventure
in addition to saving money when your car breaks down, you can reduce your costs by preventing damage, driving safely, investing in good insurance, and many other tips and tricks.
- Drive safely to avoid accidents and costly repairs.
When you’re careful on the road, you avoid damage and injury that could cost you more than a few bucks. Between repairing damages to your car, paying for medical costs around any injuries, and the potential for non-monetary damages, driving recklessly isn’t worth the risk.
- Invest in good car insurance to protect your investment
Shop around for the best insurance rates, ensure adequate car and driving needs coverage, and discuss how to reduce your costs with your agent. For example, taking a safe driving class or increasing your deductible can reduce your monthly bill.
- Regularly maintain your vehicle to prevent large repair bills down the road.
Routine maintenance is far less expensive than significant repair or replacement of critical engine parts. For example, paying a professional to do a transmission flush with your oil change will only increase the maintenance bill by $100-400. Replacing a broken transmission because you neglected that service could cost upwards of $3400 before labor costs.
3 1/2. You can save even more if you learn to do some of your maintenance on your own. Learning essential routine maintenance from friends, family, and YouTube university, you’ll be able to avoid the drive-through oil and lube places every 3000 miles.
- Compare car parts and services prices before making a purchase or service appointment.
Check your quoted costs against buying new parts at the parts store. Some mechanics will assume you don’t know anything about cars and try to charge you for the elbow grease and blinker fluid they needed to re-lube your camshaft and dust out the transfer case. If you doubt the legitimacy of your mechanic’s advice, seek a second opinion. Your car is a significant investment, and you don’t want to throw your cash down the wrong valve.
- Use coupons and promotional codes when buying car-related items or services.
Some big-name companies offer discounts on services, such as oil changes, fluid swaps, battery, light, or wiper blade replacements, and other similar routine maintenance tasks. Sign up for their newsletters, mailing list, or email receipts because they often send out thank you emails with coupons for other services they offer. These companies also register each service they do on your car to the VIN registered so that they know when you’re due for your next service and can help remind you of it.
- Don’t buy more car than you need – consider how often you’ll be using it and what type of driving you’ll be doing most of the time.
It’s easy to fall in love with more cars than you need or can afford. When you’re considering your car budget, keep in mind your needs before your wants. You may want that sports car, but you need a mini-van. You can always buy a sports car later when it better fits your lifestyle.
- Sell your old car for cash rather than trading it in – this can help offset the cost of a new (or newer) vehicle.
When it’s time to turn in your mini-van for that vintage Miata you’ve had your eye on, you can offset your costs by selling your old car first. Trading in your car is convenient and fast, but you can usually get more for your old car by selling it privately than adding it to your purchase transaction.
Delete Your Worry
When it comes to car trouble, don’t worry – follow these tips to help you save money and keep your car on the road. Carshield and other similar warranties offer affordable protection plans that can help you cover the costs of car repairs, so you can relax and enjoy your ride.