Extended car warranty paperwork to fill out at dealerships

If you are planning to purchase a used car, you might wonder if an extended warranty is worth it. The reality is that any used car can quickly cause trouble. Sometimes, repairs become expensive. In these situations, a warranty is often a great way to avoid additional risk, but should you buy an extended warranty? Let's look at the subject in depth to decide if it is a good idea or you should go about it on your own.

Things to Consider When Buying an Extended Warranty

To make any wise financial decision, you need to understand the pros and cons of both paths. Let's start by looking at the advantages of an extended warranty.

Extended Warranty Pros:

  • Saves money on covered repairs
  • Provides peace of mind
  • Extends the coverage of the manufacturer's warranty 

Extended Warranty Cons:

  • Cost
  • Not all repairs are covered

What to Look For in a Used Car Warranty

When you are shopping for a used car warranty in Colorado Springs, there are some things to look at. Consider this used car warranty checklist:

  1. Understand how much you will pay.
  2. Understand the mileage and yearly coverage.
  3. Look over the contract before committing.
  4. Check into the insurer's record.
  5. Learn about the deductible.
  6. Check into a refund policy.
  7. Are the warranty terms complicated or simple? The best used car warranties have simple terms that are easy to understand.
  8. Is the extended warranty coverage transferable? The best extended warranties are also transferable in case you decide to sell your car during the coverage period.

When You Don't Need an Extended Warranty

If your vehicle still has a lengthy manufacturer's warranty on it, you might want to hold off on getting an extended used car warranty in Colorado Springs. Examine the coverage of the manufacturer warranty as you might have enough protection to provide the security you need. 

The cost of an extended car warranty is another reason. If an extended warranty will impose a financial burden on you or your family, explore other cost-effective options. Unfortunately, there is no standard cost for an extended used car warranty. This price is dependent on the vehicle and protection required. For the most part, an average used car warranty costs between $350 and $700 per year. Here are some of the factors that affect the price of a car warranty:

  • Age & Mileage - the older the vehicle or higher mileage it has, the higher the prices will be.
  • Type of Vehicle - used car warranties on luxury cars or sports cars might cost more. This is due to the increased price for parts. 
  • Deductible Cost - the lower your deductible is, the higher the warranty cost will be. If you can afford a higher deductible, you will save more money on the coverage.

Where to Buy an Extended Car Warranty?

There are a lot of options when it comes to buying a used car warranty in Colorado Springs. We know that it's challenging to find the dealership that cares about you. At Phil Long Dealerships, you will find that our entire staff puts your needs first. Just look through our rave reviews from customers just like you. When it comes to finding you a quality vehicle, we make it our life mission. Once you find the car of your dreams, we have the extended warranty options that cover you. Let us do the hard work for you - trust us for all of your used car needs.

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Phil Long Dealerships

1212A Motor City Dr
Directions Colorado Springs, CO 80905

  • Sales: (719) 387-5744
  • Service: (719) 387-7037
  • Finance: (719) 387-7162

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