Two Types of Extended Vehicle Warranties
An extended warranty is actually a type of car insurance that provides safeguards against costly and unforeseen repairs for a certain period of time and mileage. In contrast with true warranties, which are part of the vehicle price, extended warranties are purchased independently.
Original equipment manufacturer (OEM) and aftermarket are the two mind types of extended warranties available today. Ford and Toyota are examples of OEMs. A third party would be a warranty or insurance company that has no direct affiliations with a vehicle brand. One example of a third-party service warranty provider that is fast growing in popularity is Cars Protection Plus.
Two types of warranties that OEMs offer are powertrain and bumper to bumper. A powertrain warranty covers engine and transmission issues that are related to workmanship, while a bumper to bumper warranty is intended for most other potential problems with the vehicle, including those involving the vehicle’s electronic systems (power seats, navigation.).
An extended OEM warranty often offers benefits that come with a new vehicle purchase, with added services such as roadside assistance. Research what such other services will be for various providers in your location. For example, in Murrysville, Pennsylvania, Cars Protection Plus is one of the best choices you have.
Cars Protection Plus
As you choose the best warranty for you, you may have to select between a package 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 good news is that OEM warranty deductibles are typically minimal – below $200.
Usually, third-party or aftermarket warranty companies, such as Cars Protection Plus, provide mainly the same coverage that you can expect from OEMs. But of course, these are still two different products, and even the actual coverage offered by third parties can be unique. They can also differ in terms of deductibles and general policies.
Another difference between OEM and third-party warranties concerns the administration of coverage. For instance, a third-party warranty may require you to pay out-of-pocket for a repair, and them file a claim to be reimbursed later. This process is not always quick, but as long as you go with a well-reputed provider like Cars Protection Plus, this ceases to be a problem. In any case, always know the payment expectations up front.
What you may find most advantageous with third-party warranties compared to OEM warranties is that they are incredibly cheaper. Sometimes, a third-party warranty may even be your only option. 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 intend to buy an extended warranty from a third party, make it a point to review the fine print thoroughly. Most importantly, buy from a reputable provider, such as Cars Protection Plus.
Partner post: click here to investigate