Many people don’t understand the importance of extended car warranties. And why would they? Anyone can guess how many calls people get about warranties every day. If you feel like that, read on to find out about five times you might need an extended warranty and how it can help you save money on auto repairs.
It’s a good idea to take your time choosing an extended warranty provider when your factory car warranty expires. This is because there are scams lurking everywhere and no one should take advantage of them. So, do your research and find the best extended car warranty to ensure you land with a company that meets your needs and preferences.
1. Air conditioning failure
It seems to get hotter and hotter in the summer every year. For example, many parts of the United States regularly reach temperatures in the 90s and triple digits during the summer season. So it depends on where you live, but you probably don’t want to deal with no air conditioning in your car for very long, as it could cause you to sweat through your clothes and stick to the seats.
However, if you don’t have the money to fix the problem, that’s exactly what can happen. The cost of repairs will vary depending on whether the parts need to be replaced and how labor intensive the work is, but the average price people spend on car air conditioner repairs is $650. But if you had purchased a warranty that covers your vehicle’s air conditioning, you would only have to pay a small deductible before the policy kicks in and settles the bill.
2. An engine rebuild
When internal engine components fail, vehicle owners often choose to rebuild their engines. Some people are practical. They do everything meticulously themselves. However, not everyone has the time, patience or knowledge for such an undertaking. Therefore, many car owners take their vehicles to local shops to rebuild their powertrains. The amount you will need to spend on this service will vary, but based on research, you should expect to pay between $2,500 and $4,000.
That’s a lot of money to shell out when an unexpected engine problem arises. So make sure fate doesn’t wreak havoc on your life by getting a car warranty. Then your price should drop significantly, as most warranty companies have $100 deductibles.
3. Rebuilt automatic/standard transmission
Imagine for a moment that you are driving in traffic when all of a sudden your transmission stops shifting. This could leave you seated and cause a traffic jam. Then again, the problem could even cause a wreck. Therefore, be careful when your transmission starts acting up and you will need to examine the situation as soon as possible. If the store tells you that a transmission rebuild is needed, it can be very expensive.
This automatic service usually costs between $1,100 and $3,200 because it takes time. So get a warranty to make sure you can afford a transmission rebuild if something goes wrong. Doing nothing might not be the best strategy, as your car might just have to sit until you get the money saved for repairs. So what are you going to do for transportation in the meantime?
4. A hybrid battery replacement
Have you gone green and purchased a hybrid vehicle? If so, good for you. You are doing your part to reduce the use of fossil fuels and reduce pollution. Remember, however, that your hybrid’s battery will eventually need to be replaced. When that time comes, you will definitely want to own an extended car warranty. According to Dependable Car Care, owners tend to spend between $1,000 and $6,000 or more, paying professionals to perform a hybrid battery replacement.
5. Electrical component repairs
Modern vehicles have electrical components everywhere. Systems have sensors, relays, fuses and much more. They relay messages to on-board computers and keep cars running like well-oiled machines. Because there are so many of these parts, figuring out which one is malfunctioning can be a real ordeal. The work can take time and cost you what feels like an arm and a leg. Make sure that doesn’t happen with an extended car warranty.
Paying top dollar for car repairs can hurt your budget. So don’t find yourself in this situation. Instead, get your hands on an excellent extended car warranty after the manufacturer’s warranty expires. Then you can save money on patches.