5 Takeaways That I Learned About Cars

Two Types of Extended Vehicle Warranties

An extended warranty is essentially an insurance policy on your car that provides protection against costly unexpected repairs within a particular span of time and mileage. In contrast with true warranties, which are part of the vehicle price, extended warranties are purchased independently.

Two Types

Original equipment manufacturer (OEM) and aftermarket are the two mind types of extended warranties available today. Examples of OEMs are Chevrolet and Ford. Warranty or insurance providers having no direct connections with a car brand are considered third parties. One example of a company that provides third-party service warranty is Cars Protection Plus.

OEM Warranties

Two types of warranties that OEMs offer are powertrain and bumper to bumper. A powertrain warranty is meant to cover engine and transmission issues that directly stem from poor workmanship; a bumper to bumper warranty, on the other hand, covers most other problems that may crop up, including those that affect the car’s electronic systems (navigation, onboard computers, etc.).

An extended OEM warranty often offers benefits that come with a new vehicle purchase, with added services such as roadside assistance. It pays do your research on what these other services will be for different providers in your area. For example, in Murrysville, Pennsylvania, Cars Protection Plus is one of the best choices you have.

Cars Protection Plus

When choosing the right warranty, you may have to decide if you want a plan that comes with or without a deductible. As with other insurance types out there, a bigger deductible automatically decreases the policy’s overall cost. The great thing is OEM warranty deductibles are usually under $200.

Third-Party Warranties

In most cases, third-party or aftermarket warranty providers like Cars Protection Plus offer practically the same coverage that OEMs offer. But of course, these are still two different products, and even the actual coverage offered by third parties can be unique. Policies and deductibles, for one, are usually different as well.

Original equipment manufacturer and third-party warranties may also differ in the way they administer coverage. With a third-party warranty, for example, you may have to pay for a repair out-of-pocket and then file for reimbursement after. The process won’t be always be quick, but if you choose a reputable provider such as Cars Protection Plus, this will rarely be a problem. In any case, payment expectations should be known to you right from the beginning.

What you may find most advantageous with third-party warranties compared to OEM warranties is that they are incredibly cheaper. There are even cases where a third-party warranty becomes the only option you have. So for example, if you bought a used Chevrolet from a Toyota dealership, it’s unlikely that you will get a Chevrolet OEM warranty.

If you’re planning to buy an extended warranty, make sure you read the fine print. Most importantly, choose a good provider such as Cars Protection Plus.