Learning About Extended Car Warranty Cost
A manufacturer’s warranty on your new automobile can shield you from unexpected repair bills after you drive it off the lot. Many of these original warranties, however, are only good for three years or 36,000 miles. When this coverage expires, you can seek an auto protection plan or pay for extended car warranty cost to maintain coverage for mechanical failures and other auto repairs that car insurance may not cover.
It’s natural to question how much an extended warranty, auto protection plan, or vehicle service contract would cost while looking for one. The cost of a customized car protection plan is determined by a variety of criteria specific to your vehicle and needs. While we can’t predict how much your specific plan will cost each month, we can give you an idea of what elements contribute to the cost of a plan.
Factors Determining Extended Car Warranty Cost
A few criteria will decide which coverage choice is best for you, including:
- The age of your car
- Your driving habits, such as the frequency with which you drive
- Miles on the vehicle
While there are other possible considerations, these three major ones will ultimately decide the overall cost of an extended auto warranty. We sometimes describe these characteristics as “moving pieces” since they are unique to each client and are continually changing, allowing us to tailor a policy to your specific needs.
A Few Examples
To help you get a better idea of how extended car warranties work, consider the following situations:
One person, let’s call him Driver 1, drives a 2018 Toyota RAV4 with 43,000 miles on the odometer. With his long commute to work and his child’s weekend soccer sessions, he regularly drives his automobile. With this schedule, he typically travels around 1,000 miles each month. When looking at extended coverage, he wants a deductible of $50.
Another driver, let’s call him Driver 2, owns a 2016 Audi A6 that is only driven around 300 miles each month, largely for errands and daily commute. This car is 5 years old and has 32,000 miles on it.
These two drivers have apparent disparities, such as car age, vehicle price, mileage, and so on. Along with these variations, the vehicle make/model and daily usage might have an impact on the cost of an auto protection package. It is more costly to repair an Audi. When compared to the higher mileage Toyota, however, it is less likely to require a trip to an auto repair shop or an unexpected call for a tow truck. Because of this distinction, these two vehicles are unlikely to qualify for the same insurance, resulting in a different auto protection plan or extended car warranty premium.
Conclusion
An extended car warranty cost is around $4,000. However, as previously said, each driver and policy is unique. When your automobile requires repairs and you do not have coverage, the technician will demand full payment. Endurance offers customised payment options to meet your budget to help drivers with costs, so you won’t be stuck paying hefty repair bills on your own.
