Two Types of Extended Auto Warranties
An extended warranty is basically car insurance that protects you against expensive unanticipated repairs within a specified period and mileage range. While true warranties are included in the price of the vehicle, extended auto warranties are sold separately.
Original equipment manufacturer (OEM) and aftermarket are the two mind types of extended warranties available today. Ford and Toyota are examples of OEMs. Warranty or insurance companies are considered third parties when they have no direct business relations with an automobile brand. One example of a company that provides third-party service warranty is Cars Protection Plus.
Two types of warranties that OEMs offer are powertrain and bumper to bumper. A powertrain warranty is meant to cover engine and transmission issues that directly stem from poor workmanship; a bumper to bumper warranty, on the other hand, covers most other problems that may crop up, including those that affect the car’s electronic systems (navigation, onboard computers, etc.).
In most cases, an extended OEM warranty’s features are similar to those that are provided with a new vehicle purchases, plus additional services like roadside assistance. Research what such other services will be for various providers in your location. For example, in Murrysville, Pennsylvania, Cars Protection Plus is one of the best choices you have.
Cars Protection Plus
As you choose the best warranty for you, you may have to select between a package that comes with or without a deductible. Like any other type of insurance out there, a bigger deductible will automatically reduce the policy’s total price. What’s great is that OEM warranty deductibles are generally minimal (usually under $200).
Usually, third-party or aftermarket warranty companies, such as Cars Protection Plus, provide mainly the same coverage that you can expect from OEMs. But of course, these two are still independent products, and third-party warranties can still vary, depending on the specific company. They can also differ in terms of deductibles and general policies.
Another difference between OEM and third-party warranties concerns the administration of 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 won’t be always be quick, but if you choose a reputable provider such as Cars Protection Plus, this will rarely be a problem. In any case, it’s crucial that yo know your costs right from the start.
What could be the most important advantage of third-party over OEM warranties is that they are dramatically cheaper. 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’re planning to buy an extended warranty, make sure you read the fine print. Most importantly, choose a good provider such as Cars Protection Plus.
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