Types of car warranties you should know
When you are investing your hard-earned money in buying a new car, you naturally need a cover that will provide you with a guarantee that in case of any damage within a certain period, your vehicle will be protected. This cover is considered as your car warranty. It has, however, been observed that a newer car usually has a higher warranty period than an old or a pre-owned one.
Normally, a car warranty covers a bumper-to-bumper warranty, which includes air-conditioning, electrical components, and everything else that is in the car. Manufacturers give a warranty cover for three years and around 36,000 miles; however, this will differ as per manufacturers.
Now the question arises as to which brand and make of a car gives the best warranty. Car warranties are generally divided into two categories—manufacturer’s warranties and extended warranties.
Manufacturer’s warranty is issued by the maker of a car and covers a certain part for a specific period of time. Top-end car manufacturers like Mitsubishi offer around five years and 60,000 miles bumper-to-bumper warranty. Korean manufacturers such as Hyundai and Kia offer around five years and 60,000 miles with a seven-year corrosion warranty and a five-year unlimited mileage roadside assistance.
Everyone loves extended car warranties, which means more coverage for your vehicle. Extended car warranties are a contract that warranties that states that if any part of the car breaks down, the warranty company will pay for the repair. Car warranties come straight from the manufacturers, promising to pay or replace in case of any damage within a stipulated period. However, an extended car warranty comes with an additional cost and the buyer has to purchase it from a third party.
One question that pops up is “how much does an extended car warranty cost?” There are several private companies such as Endurance, ASAP, and Autopom that provide extended car warranties. These warranty rates are decided on vehicle age, make, mileage, and how much cover is needed. Extended car warranties are good for a new car as they provide additional protection to your vehicle.
