Everything that you need to know about aftermarket warranties on your car
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When you have paid out for a car, whether that is brand new or a second hand one; you are going to want to make sure that it works as it should. Not only this, but you also are going to want to have peace of mind that should something go wrong with the car, that it wouldn’t be too long before it can get back on the road.
When you buy a new car, you will often be given a warranty to cover any faults or issues that could develop with the car. These warranties will run out usually after 3 years, or at the 60,000 mile mark, which means that your car isn’t covered and any repairs or faults are going to need to be paid out of your own pocket.
The good news for you is that this isn’t the end of the line; there are aftermarket car warranties that you can organise to give you back that type of protection.
But what are they and what do they do?
What is an aftermarket warranty?
The idea of an aftermarket warranty is that it can be organised on a car that is now out of the manufacturer’s warranty. It is separate type of cover from the cover that can be offered by a car manufacturer or a car dealership when you buy the car.
An aftermarket warranty is offered by an independent company and what they will cover, their policy limits and their terms and conditions will all be different. This means that it is incredibly important to shop around and carefully ascertain what is being offered by each of the warranty providers.
What is covered in an aftermarket warranty?
The first question that you are likely to want to is what exactly is covered in an aftermarket warranty? The level of cover will of course vary; some providers will cover you for the mechanical parts within your car, whilst others will also include cover for electrical parts too.
You may find that you have a level of cover that will only offer replacements of parts; whilst other providers will also pay out for the labour costs that are associated with the repairs.
Do I actually need it?
Next, you are likely to ask yourself whether or not you actually need to organise an aftermarket warranty and pay out for it. Well, the answer is yes, although there are things that you need to keep in mind. It is not really worth paying out for an aftermarket warranty if the car that you have bought isn’t worth that much money or if it is not going to cost too much to repair.
A guideline for the cut off of when an aftermarket warranty isn’t worth taking out is a car that is valued at less than £1,000. This is because you may decide that it is actually a much better idea to simply pay out for a new car.
It is also worth keeping in mind that aftermarket warranties are not often provided for cars that are over 10 years old or that have more than 100,000 miles on the clock.
It’s also worth noting that private number plates, like those available when you visit myreg, shouldn’t affect your insurance or warranty.
