Why we need warranty while purchasing any product? Warranty is a deal between buyer and manufacturer where manufacturer needs to promise his buyer to repair or replace the product bought by customer if necessary and that too in a specified time limit given in warranty. Similarly there is car warranty specified for a limit of three years which can also be extended if necessary. If you have warranty time still left with you then you can easily repair or replace your car if you want. If the car warranty provided by manufacturer expirers there is an option to choose extended warranty cover. The extended warranty cover provides the same services like before when you had new car.
Car warranty scheme depends on the type of car you are using or going to use. It varies on conditions like whether you are buying new car or if it is used car or if simply you want warranty cover for your current car. Breakdown repair cover, independent dealer warranty, manufacturer warranty, and after market warranty etc are some policies related to car warranty. If you are protected by car warranty or Mechanical breakdown insurance (MBI) provided by manufacturer, you are definitely going to get high benefit. The protection you are going to receive is protection against the cost of parts and worker following electrical failure of a covered part.
The things and facts that can be covered by car warranty are the engine, transmission system, Cooling system, Electrics Gearbox, Steering, Suspension and many more etc. Every company provides their own terms and conditions related to warranty thus it are very necessary to understand all terms clearly. There are more other extra options available that can add your policy if you want to and if they are not yet covered. Some of that policy includes:-
- Wear and tear
- Consequential loss
- Betterment
- Oil leaks
There are some common useful advantages while purchasing car warranty which includes:-
- Financial assistance and peace of mind:- This means you will be out of tension in any case whether it is mechanical or electrical failure. You don’t need to pay for any of these kinds of failure thus peace of mind is gained automatically.
- Tailored cover:- It means tailoring your cover level after market warranties are gained or enabled from manufacturers side which will suit your needs.
- Breakdown recovery:- There are many car warranties which include breakdown cover, but no need to worry just you have to arrange the recovery and reclaim again about any costs.
If there are advantages related to car warranties, there will necessarily be some disadvantages too for you to know:-
- Claim limits:- Normally the total of all the claims is limited to the real value of car, it means there is a strict limit for each item. But there are also some independent dealers who keep maximum limit per claim on warranties.
- Increases the cost of car ownership:- If we buy a warranty for your car, it is must that the cost of car ownership will increase and if you claim it could prove to be money well spent.
- Validity and exclusions
So, there are many more terms and facts related to car warranty, which you need to learn in detail in case of beginner or if experienced doesn’t matter. Learning never ends and thus you should go through all details and requirements before purchasing car warranty.