Should You Get A Warranty On A Used Car?
Just as there is always a slight risk attached to buying a used car, there is equally a peace of mind that comes with knowing that car is under warranty.
Warranties are the extra insurance that can sometimes mean the difference of a new part or new car. They are the welcomed breath of fresh air when driving a used car.
Sometimes, a manufacturer’s warranty comes attached the car you’re purchasing. Sometimes it doesn’t. When looking for warranties at used car dealership Lexington KY, how will you know when or if to extend that warranty?
Below are some tips to consider before spending extra money.
CPO or Manufacturer Warranties
There are a couple different ways to getting a warranty on your used car.
If you buying a CPO, or certified pre-owned, vehicle then chances are good it already comes with a warranty. It may even still be under the manufacturer’s warranty.
You will want to check out what the coverage of this warranty includes or if it can be extended or transferred to different owners.
This is going to make a difference to both the buyer and/or seller. The CPO dealership will have the answers.
If you are purchasing a used vehicle from a personal seller, or a lot that isn’t CPO, it is unlikely that the used vehicle comes with a warranty.
You still may purchase a warranty for this vehicle, but it is going to a bit more difficult.
Business Is Business
Like health insurance, warranties exist to provide assistance but will always make their money first.
It is a business, after all.
They have the ability to say no to any request and will likely do so if the vehicle is not in the best condition, has a lot of mileage or is likely to need expensive repairs any time soon.
Buying Certified Pre-Owned
If you know you want the comfort a warranty provides, I would recommend either buying newly used or CPO. These are the best bets for a used car coming with a warranty.
Because CPO’s are usually newly used vehicles, or they have very low mileage they probably also are still under the manufacturer’s warranty which means you are covered.
If they are not directly under the manufacturer’s warranty, the dealership that sells the CPO’s often warranty the cars themselves.
Being able to check with a team of certified technicians, these dealerships can make sure they are insuring a good vehicle and don’t see much risk involved.
Be careful when someone tries to sell you an extended warranty.
First, you always want to be aware of exactly what your warranty covers. If you are still under the manufacturer’s warranty you do not want to purchase any other warranty as this will be enough coverage.
Second, the extended warranty may not cover what you need it to. This is called an exclusionary warranty meaning it only covers specific items and it is less likely to cover the items you will most need covered.
As with anything you’re purchasing, weigh the pros and cons. Read the fine print before signing anything.
Be a smart shopper and know what you’re wanting and you will know what you’re getting.