When to Buy an Extended Vehicle Warranty?

When you’re shopping for a new or used car, you are likely to be concerned with things like make, model, color, price, and options. One thing you may not initially consider is the warranty that comes with the car you plan to purchase. Most new cars come with a multi-year warranty, and the same is true for many used cars you may consider. However, there is something to be said for the additional benefits of extended vehicle protection programs that will cover your automobile beyond the original warranty.
Even the most reliable automobiles experience problems from time to time. When they do, the cost to repair them can be financially overwhelming. An extended warranty can help you better manage those issues without going broke in the process. But when should you get the extended warranty, and when are you better served taking that money and investing it elsewhere? Read on to learn more about when to buy an extended warranty for your vehicle.

A History of Car Trouble?
If you have a long history of automotive mishaps, you may want to consider an extended vehicle warranty. While some would attribute negative experiences with vehicles to bad luck, there could be a real cause of your frequent need for repairs. Some people simply drive their cars harder than others. Some don’t keep up with routine maintenance as often as they should. These things factor into vehicle lifespan, and if you’ve had routine car problems in the past, there’s no reason to think that may not be the case in the future. Therefore, you can insulate yourself from expense with a warranty.

Are You Willing to Endure the Mental Costs?
Are you a worrier? If you’re the kind of person who frets early and often about things beyond your control, a warranty may give you some peace of mind when your car’s standard warranty is over. The mental comfort you get from knowing that your car will still be covered when the original warranty expires will be well worth the financial sum you’ll pay for it.

Do You Have Self-Discipline?
If you are disciplined enough to put money aside in a savings account while your car is under the original warranty, you may not need an extended warranty after all. The savings can be used to pay for out of pocket repair costs once your car is out of warranty if you should need to fund fixes. If you have a hard time saving, however, you may be better served paying up front for the warranty, even if you never end up needing it.
When considering whether to buy into extended vehicle protection programs, you must answer some questions about your habits before moving forward. If you tread lightly in your car, don’t worry about things beyond your control, and have the discipline to fund a savings account, you may not need an extended warranty.