Doesn't it seem like cars always "decide" to break-down right when the manufacturer's warranty runs out? That's the way it can seem and it results in big out-of-pocket expenses.
As more people keep their cars longer now due to the economic downturn, car repair bills are getting a bit costly for many people.
With auto dealerships charging so much for extended warranties at the time of sale, it can seem like affordable warranty coverage is not realistic.
It's actually a myth that you can only buy an extended service contract for a vehicle when you buy your vehicle.
You can actually purchase an extended warranty for a vehicle that's 15 years old that you've owned for years.
Dealerships mark up the price of warranties big time.
It's not uncommon for a warranty that costs just a few hundred dollars, to be sold by a dealership for a thousand dollars or more.
The profit from the sale is a commission check for the finance manager or salesman that convinces you to have it added onto your auto loan.
A lot of money can be saved by purchasing a service contract direct from a warranty company.
This allows you to bypass the dealership sales game and get coverage for a reasonable price.
With the cost of mechanic labor being so high these days, it does not take much for the price of the coverage to pay for itself in a short time.
Especially, when you no longer have to hold off on having a problem seen about, as you'll be covered.
Legitimate warranty companies can provide the best coverage.
Make sure that you deal with a good company and it's best to compare policies from more than one company to make sure that you're getting a good price.
Some companies provide quotes on the internet, which can be a big time saver.