From electronics and large appliances to vehicles and car parts, purchase something of value these days and you’ll likely be offered an extended warranty (for a price). In many cases, that could mean that if your purchase breaks or needs a new part within a certain timeframe, the extended warranty might cover a partial replacement or the total cost. These are often called service plans, which salespeople are trained to push, but consumer reports show it’s best to decline these offers most every time. Think back—how many times did you get an extended warranty only for your car, electronic or appliance, only to have issues arise right after the warranty ended?
So, the question remains: Should you avoid extended warranties for foreign auto repair in Conway, AR? Ultimately, it depends. There are occasions when buying this type of service plan may be worth it. Here’s what to consider:
- Understand the warranty: Under Federal law, manufactures are required to post warranties for review. That way, you know what it covers before you decide to buy. Note the length of the warranty, what it covers and whether the company will repair or replace a part or issue a refund. Some extended warranties are exact duplicates of the coverage being offered by the original manufacturer’s plan, so keep that in mind—there’s no need to pay again for what you’re already getting!
- Check if your credit card covers it: A number of credit card companies will provide an automatic extended warranty for some products purchased using the card. The coverage may be for one year or longer. Read your card benefits, or call and ask.
- Read the tiny print: As fancy as extended warranty coverage sounds, it may not be as comprehensive as you think. Watch for exclusions, like the warranty not covering accidental damage. You can also void the warranty simply by not following their routine maintenance instructions. Another hitch is the warranty requiring the subscriber to use certain service providers or repair shops. This limits where you can take your vehicle for service.
- Dissatisfaction: Studies report that about 1 in 5 consumers who use an extended warranty are unhappy with the repair work. Also, service can take an awfully long time, or the repair may be so bad that you end up having to take it back multiple times to get fixed.
- Cost of repairs: Extended warranties for vehicles and vehicle parts range widely in cost. Before buying an extra service plan, look up an extended warranties buying guide and compare the cost of the warranty to the costs of common repairs. Another thing to be aware of is whether or not the warranty requires you hit a certain deductible before they’ll start covering service costs or claim fees.
- Buy high-quality products: If you’re planning on purchasing a more expensive item—like a car—it’s a good idea to do some research to understand the manufacturer’s warranty that comes with it. For instance, the higher the quality of the item, the more it’ll cost, but the less likely it is to break. In this case, you may want to skip the extended warranty.
For more information, or to benefit from reliable foreign auto repair in Conway, AR, call Riverdale Automotive today!