Advantages of an extended car warranty plan
Warranty can be explained as a promise to repair or replace a product from its time of purchase until a certain period. There are two types of warranties offered when you purchase an automobile. Car warranties, in general, can be broadly divided into a regular warranty that is offered by the car manufacturer and an extended warranty which is an insurance plan purchased by paying a premium. An extended warranty is a coverage for your vehicle that is offered by a third party through premiums as any other insurance plan. This extended warranty plan kicks in when the regular warranty offered by the manufacturer expires. The purchased plan may be bought either at the time of the car purchase, during the usage, or when the regular coverage expires, depending on the terms and conditions in the plan purchased. Having an extensive coverage plan for warranty can save thousands of dollars over time, be it for repairs or to buy another vehicle. Some of the benefits of having extended car warranty programs are: Peace of mind Even if a potential quality problem leads to a vehicle breakdown after the manufacturer’s warranty period expires, it will not be attended to by the OEM (original equipment manufacturer).