Making Cents of Auto Warranties
An extended auto warranty can help protect you from unforeseen and costly repairs.
Automakers offer limited coverage on new automobiles. Third party extended warranties can fill some of the gaps, but differ in benefits and price. So be on the lookout for exclusionary coverage, which covers everything except the items listed.
Plans typically cover major malfunctions or manufacturer defects, but don't cover wear and tear items like tires, brakes, and shocks. Some better plans have benefits such as towing, roadside assistance, car rental reimbursement with no deductibles. And can be transferable if you sell your vehicle before your warranty expires.
It is important to always know exactly what is covered before you sign. The best mechanical breakdown warranties are available at trusted financial institutions that finance your vehicle. Avoid warranties pushed by the dealer or through cold calls.
By financing your auto and purchasing the warranty at Ascentra, you could save as much as 60% for similar coverage offered at the dealership. Check out information on our extended auto warranty options on our vehicle loans page.