A car warranty is basically an insurance policy that promises to protect you from large automobile expenses at the repair shop. But your financial situation is tight and you have to decide between putting food on the table and getting a warranty it may not always be the option for you.
First of all you should realize that you do not need a warranty on your car. At least, it’s not mandatory. Some dealerships will make it sound like you have to have one before you can drive off the lot, but this is just because they get paid a commission on the sale. They may even make it sound like you can’t get auto insurance until you have a warranty, but this is also false.
Any new car will come with a warranty to protect you against any major breakdowns, but that warranty will eventually expire in a few years. So the question is, “What do you do when that warranty expires?”.
When considering your finances you really need to consider how old your vehicle is and how much money major expenses will cost. Some vehicles cost more to repair than others, but even if your car is relatively cheap to repair you should do some research and find out what other owners of that same vehicle have had problems with. Certain cars have common problems with certain parts, and it helps to know what you can expect if you have problems down the road.
Even if you have a car warranty on your vehicle you need to take care of the regular maintenance on it. In fact, your car warranty company can void your warranty if you neglect to change your oil and take care of the basic maintenance.
And if your car is already having problems and making noises and you think you can just sign up for an auto warranty and let them pay for it, think again. Most reputable companies will want to inspect your car to make sure it is in good shape before they promise to protect it. It’s just like signing up for health insurance. The time to sign up is when your car is in good health.
If you already have some money saved up in case your transmission goes and you need to pay a huge expense, then you may not need a warranty. However, you should also consider that car expenses are only going up and locking in a low rate with a vehicle protection plan can save you money in the long run.
That being said, if your car never breaks down you might feel like you wasted money by getting a warranty. That’s why most people who have protection plans buy them just for the peace of mind. Not ever having to pay a mechanic out of pocket is a great convenience, but only if you have the extra finances to pay for this service.
You should never go into debt in order to get a warranty on your ride, but if you want to shield yourself against the possibility of mechanical failure a warranty can definitely help you out. With newer cars there are more complications, and hybrids can be even more expensive to repair. But before you get a car warranty online you should make sure you are buying from a reputable company and that you read the contract fully before purchasing.