Are Extended Warranties Worth It?

When you shop for a new-to-you vehicle in Long Island City, you may be asked if you would like to purchase an extended warranty when you apply for financing. However, you may be wondering what an extended warranty is and if extended warranties are worth it. Depending on your lifestyle and budget, an extended warranty can help you lower your vehicle maintenance costs for many years after you purchase your vehicle. If you plan on owning your car, truck, or sedan for a long period of time, then an extended warranty may be worth the extra cost. Learn more about extended warranties with Major World below:

What is an Extended Warranty?

An extended warranty is an additional coverage plan you can opt in for when you finance a new-to-you vehicle at Queens-area dealerships. This plan provides additional coverages once the factory warranty on your vehicle expires. Each extended warranty will vary in coverage and cost, but if applicable, you can tack on extras such as towing or roadside assistance. An extended warranty will help cover the cost of repairs in the event that your major powertrain warranty has ended and your vehicle suffers a major part failure.

Extended Warranties for New & Used Vehicles

An extended warranty can be purchased on new or used vehicles at Brooklyn-area dealerships, but they’ll work differently depending on the condition of the car. Read our tips below when you’re considering if you should buy an extended warranty:

New Vehicles

Consider how long you plan to own your vehicle before you purchase an extended warranty plan. If you think you may want a new car in 10 years, then an extended warranty plan may not be right for you. Since many new vehicles are highly reliable, they can last for many years on the road without major part failures. If you plan on buying and keeping your vehicle for over 10 years, then an extended warranty plan is worth it.

Used Vehicles

When you buy a used vehicle in Bronx, make sure you have the vehicle inspected thoroughly and get a vehicle history report – if possible – to determine the condition of the car. This will allow you to check the vehicle’s condition and identify any parts or systems that may need repair later on. With that information you can decide whether or not you would like to opt in for an extended warranty. Similar to new vehicles, you should also consider how long you plan on owning the used vehicle to help you decide if an extended warranty is worth it.

Do You Need an Extended Warranty?

Ultimately, your decision on whether or not you should buy an extended warranty will come down to your budget and lifestyle. An extended warranty is worth it for drivers who plan on owning their vehicles for a long time and want to mitigate the costs of any repairs that pop up. The added security that comes with an extended warranty can make your new or used vehicle purchase more worthwhile and give you extra peace of mind on your commutes for years to come.

Discuss Your Financing Options With Major World

Now that you know more about extended warranty plans, explore our vehicle inventory to find the perfect sedan, truck, or SUV for your needs. You can also contact our finance team to discuss your warranty options or read our other finance tips for more information on the car buying process. Contact us today, we look forward to hearing from you!