Tuesday, October 23, 2012

Common Types of Extended Auto Warranties

If you are looking around at getting an auto warranty, you might want to do your homework first. While having additional coverage after the manufacturer’s warranty ends is always a good idea, you want to be sure you get coverage that will work best for you and your situation. Check out the three most common types of extended auto warranties before making a decision.

Comprehensive Extended Warranty

If you get your hands on a good deal, experts recommend that you purchase an auto warranty like this, especially if you are considering keeping the vehicle well passed the manufacturer’s warranty end time. Considered a “bumper to bumper” warranty, this covers almost everything that can go wrong with a car and it is the most popular of the extended warranties. The monthly cost of comprehensive coverage can be a bit pricey, but if your vehicle is getting expensive, from a mechanical point of view, it will be smart to choose this warranty to help save a lot of money in repairs.

Contrary to what the term "bumper to bumper" might suggest, a complete guarantee does not cover all components of the car (new or used). The full text of the warranty usually includes a list of exclusions, so be sure to read this document carefully before opening your wallet.

Components Warranty

The components auto warranty is a list of specific parts of sections of the car that will be covered if something goes wrong. This applies to any component that has caused you problems or is recognized as a weakness on the type of car you covet. The advantage of this type of warranty is that you can shop for one that covers the components you are most concerned about. The disadvantage, however, is that should an uncovered part need repairs, you are responsible for the full cost.

Powertrain Warranty

The powertrain covers just that - the powertrain. If you are not inclined to purchase full coverage and are only concerned about one of the more costly systems to repair then an auto warranty covering the powertrain is perfect for you. Most often, the transmission is covered by the full warranty of the manufacturer, but when the time comes to consider buying an extended warranty, you can get coverage for the transmission from many manufacturers, dealers and independent suppliers.

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