Purchasing a car can be stressful due to needing financing or not knowing whether you are making the right choice for your startup. The risk of picking a used car without some sort of warranty can leave you without money t6 repair the car. The most important aspect of owning a company car is making sure that it is are up to date with regular maintenance. Driving thousands of miles past the recommended oil change mileage is a recipe for disaster. Cars are going to take money to maintain but these costs are far less than what repairs cost. Below are what you need to think about when looking for an extended auto warranty for your company’s car.
Is a Warranty Required?
Purchasing an extended warranty might not be possible for you financially. Most new cars are going to come with the manufacturers guarantee and warranty. In some cases, with a used car, the selling point could be the warranty provided to quell concerns about the car’s overall health. For those starts that are leasing a car, this is not going to be required as long as suggested maintenance is taken care of.
The manufacturer’s warranty will last a certain number of miles or years. If you are planning on keeping the car for longer than a 5-year warranty, purchasing an extended warranty could be wise. Look at a car as an investment that needs to be taken care of as the longer the company uses it, the more return you are getting on that investment. An additional option can be to put the money away you would’ve spent on a warranty for future repairs. The transmission or engine having major issues is surely going to cost far more than any warranty though.
More Mileage, More Money
A warranty is going to be priced much like an insurance policy as it acts as a policy for your vehicle. Unlike insurance, a warranty is covering repairs that will need to be made that occur naturally with the car instead of due to an accident. Older cars with more mileage will cost more due to the likelihood of repairs being needed. The newer the car is and the less mileage it has will help keep costs reasonable. Certain people might wait until the warranty they received from the manufacturer expires. This can be wise if cash flow is low but the warranty will be far more expensive down the line.
Don’t Settle on the 1st Warranty You are Offered
The worst thing that you can do when purchasing anything is to make sure you investigate all of your options. Picking the initial offer for a warranty at the car dealership you are purchasing from is not always the best option. The price or coverage can differ vastly from companies that solely deal with auto warrantees. Asking the right questions about coverage can actually be used to negotiate a warranty price down if it is not fixed.
Quality Companies Matter
You do not want a low-quality company covering your vehicle as this could spell disaster. This can lead to long waiting times to have your claims reimbursed or loopholes in the paperwork that leaves you liable. Take the time to do research as consumers will flock to the internet to complain about a company that they have had a terrible experience with. Detailed reviews should be viewed as more credible as competitors could leave a generic bad review for a company. For more info check out https://gogetolive.com/extended-car-warranty/toyota/ to see what a quality extended car warranty includes.
Look for the Best Coverage for Your Vehicle
You want a deductible of $0 as you could be paying thousands of dollars for your warranty from the start. If there are itemized deductibles you need to opt for a company that is not trying to nickel and dime you. There are going to contract stipulations that you will have that will allow you to cancel the warranty within a certain amount of time. Potentially the most important aspect of this is whether you have to use a specific mechanic or not. Unfortunately, there are dealerships that will charge far more than a mechanic you have been going to for an extended period.
Looking at what is covered when compared to the common issues with your model of car is essential. Certain cars might have issues with certain valves or the computer board leading to extensive repairs. Make sure these are covered in detail before paying for the warranty.
Perks Matter
Perks are going to matter in this case as having roadside assistance or a free tow can save you or employees cash. The ability to have a car repaired while traveling without worrying about being gouged on the price provides peace of mind. Take the time to negotiate the perks as you might receive far more than you expected.
Investing in an extended warranty for the new company car can be wise. Take the time to write out the pros and cons of extended auto warranties to ensure you are clearly making the right decision.”
