Extended vehicle service contracts, or extended warranties as they are often known, is something which every person is offered when they buy a new vehicle. On the face of it many people reject this as they believe it to be an unnecessary cost, the reality however is far different. It is understandable why many reject this option, they are already shelling out money on the vehicle and the insurance, and this just seems like an additional cost which isn’t worthwhile. In truth however this is something which you really should give a lot of thought to, as in the long run it can be a very worthwhile purchase.
Keeping the Vehicle
Most people will have it in their minds to keep a vehicle for between 3-5 years, in reality however most keep vehicles for longer than that, and when this happens they lose the protection that they once had in terms of their warranty. Instead of running this risk you can give yourself the option to keep the vehicle for a longer period of time, by purchasing the extended warranty.
Naturally there is always the hope that you will never need repairs on your vehicle, but naturally as time rolls on that probability gets higher and higher. What you must consider here is that just one problem, one breakdown and one incident whereby you will need repairs, is almost certainly going to cost more than it would have done to purchase the warranty in the beginning. If you have the extended warranty and you need to use it, then the warranty will have instantly saved you money.
Something which is always important to bear in mind is that a vehicle owner can purchase a warranty from any company who offers it and they are not bound purchase it from where they bought the vehicle. With this in mind new vehicle owners can count on some very competitive prices which are often much lower than the dealership offers.
Peace of Mind
No matter what your financial situation is when you buy the vehicle, everything can change in the drop of a hat and there is no certainty that you will have the money to afford repairs in the future. This is why obtaining an extended vehicle service contract you will also be getting peace of mind that should anything go wrong with the vehicle, you will be covered. We know that these things often seem to happen at the worst possible time which is exactly why it is worthwhile to spend a small amount of money now, to cover yourself down the line. The last thing you need is to require repairs when it is inconvenient, and then kick yourself for not having bought the extended warranty when you first had the chance.
The next time you get a new vehicle, consider your options and weight up pricing, and bear these benefits of an extended warranty in mind.