Two Types of Extended Vehicle Warranties
An extended warranty is actually a type of car insurance that provides safeguards against costly and unforeseen repairs for a certain period of time and mileage. True warranties are automatically included in a vehicle purchase, while extended auto warranties are a separate product.
When you talk about extended warranties, there are two key types: original equipment manufacturer (OEM) and aftermarket. Toyota and Chevrolet are two examples of OEMs. A third party would be a warranty or insurance company that has no direct affiliations with a vehicle brand. One example of a third-party service warranty provider that is fast growing in popularity is Cars Protection Plus.
There are two kinds of warranties provided by OEMs, namely, powertrain and bumper to bumper. A powertrain warranty covers engine and transmission issues that are related to workmanship, while a bumper to bumper warranty is intended for most other potential problems with the vehicle, including those involving the vehicle’s electronic systems (power seats, navigation.).
An extended OEM warranty generally has features that are similar to the benefits offered by a new vehicle purchase, but with the addition of other services like roadside assistance. Know what these other services are with different providers in your area. One of your best options – if not your best – in Murrysville, Pennsylvania is Cars Protection Plus.
Cars Protection Plus
When deciding which warranty is the best, you may have to choose between a package with a deductible and without. Like most other types of insurance, a higher deductible lowers the total cost of the policy. The great thing is OEM warranty deductibles are usually under $200.
In most cases, third-party or aftermarket warranty providers like Cars Protection Plus offer practically the same coverage that OEMs offer. But of course, these are still two different products, and even the actual coverage offered by third parties can be unique. There will be different policies and different deductibles too.
How coverage is administered constitutes another significant difference between OEM and third-party warranties. For example, with a third-party warranty, you may have to pay out-of-pocket for a repair and then file for reimbursement later on. The process may take some time, but if you choose a good provider like Cars Protection Plus, this will hardly be an issue. In any case, always know the payment expectations up front.
What you may find most advantageous with third-party warranties compared to OEM warranties is that they are incredibly cheaper. Sometimes, a third-party warranty may even be your only option. 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 intend to buy an extended warranty from a third party, make it a point to review the fine print thoroughly. Most importantly, buy from a reputable provider, such as Cars Protection Plus.