Should You Purchase An Extended Vehicle Warranty? Ask Yourself These 3 Questions To Help You Decide

9 May 2022
 Categories: , Blog

When purchasing a used car from a respectable dealership, you are likely going to be offered the option of purchasing an extended vehicle warranty. If you find yourself wondering whether or not this purchase is a good idea for you, taking the time to ask yourself the following three questions can help you to make the best decision for your specific circumstances. 

Question #1: Can You Afford To Make Repairs In The Near Future If Necessary?

Many people end up spending most or even all of their available savings when making a major purchase, such as buying a car. As a result, these individuals may not be financially prepared to make any major repairs to their vehicle if something goes wrong shortly after making this purchase. If you are in this same situation, you will want to seriously consider purchasing an extended vehicle warranty. By choosing to purchase this type of insurance coverage, you can be sure that you have the means to get your vehicle repaired quickly and correctly regardless of what your financial situation may look like at the time. 

Question #2: Will You Be Financing The Purchase Of Your Vehicle?

If you are planning to finance the purchase of your vehicle, buying an extended auto warranty can go a long way toward protecting the investment that you are making. If your vehicle becomes inoperable while you still have a balance due on your auto loan, you will be required to continue making monthly payments until this loan is paid off. You may also find it difficult to secure financing for another vehicle until after you have finished paying off your original loan. By having an extended warranty on your vehicle, you can be sure that you will have affordable access to any repairs that may be necessary to ensure that your vehicle runs smoothly for the length of your loan and beyond. 

Question #3: Do Unexpected Expenses Make You Anxious?

Simply put, some people are better at dealing with unexpected events than others. While some people will be able to address a vehicle breaking down without breaking a sweat, others will find themselves dealing with significant anxiety and stress when trying to determine how they are going to cover the unexpected repair costs. If you are a person who is thrown off by unexpected events and expenses in your life, choosing to purchase an extended vehicle warranty can help make vehicle ownership far less stressful.