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. While true warranties are included in the price of the vehicle, extended auto warranties are sold separately.
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.).
In most cases, an extended OEM warranty’s features are similar to those that are provided with a new vehicle purchases, plus additional services like roadside assistance. Know what these other services are with different providers in your area. One of your best options – if not your best – in Murrysville, Pennsylvania is Cars Protection Plus.
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. Like any other type of insurance out there, a bigger deductible will automatically reduce the policy’s total price. The good news is that OEM warranty deductibles are typically minimal – below $200.
A lot of third-party or aftermarket warranties, including those provided by Cars Protection Plus, provide similar coverage as those offered by OEMs. But of course, you’re still talking about two different products, and even third-party warranties can be unique, depending on the provider. They can also differ in terms of deductibles and general policies.
Another difference between OEM and third-party warranties concerns the administration of 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 may take some time, but if you choose a good provider like Cars Protection Plus, this will hardly be an issue. In any case, always know the payment expectations up front.
What could be the most important advantage of third-party over OEM warranties is that they are dramatically cheaper. Sometimes, a third-party warranty may even be your only option. If you buy a used Toyota at a Ford dealership , for instance, it’s unlikely that you will be given a Toyota OEM warranty.
If you’re thinking of buying an extended warranty, be sure to read the fine print to the letter. Most importantly, choose a good provider such as Cars Protection Plus.
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