Buying a used car comes with certain risks, especially depending on the year and age of the vehicle. Purchasing a used car warranty provides peace of mind if you are able to afford the costs. How do you find the best used car warranty for your vehicle and budget in 2021? Various types of warranties for used cars are available depending on your vehicle and coverage needs. Purchasing an extended warranty for used cars requires some research and insight into what types of coverage options are best for you.
Certified pre-owned (CPO) vehicle warranties are a viable option. CPO warranties are backed by the original manufacturers. CPO vehicles are also required to operate in an insurable state, which means CPO vehicles are inspected and vetted by the original manufacturers. CPOs are all written and priced differently depending on the issuer.
For example, common CPOs cover three months comprehensive expenses and twelve months of powertrain-related issues. Other CPO comprehensive coverage options last for twenty-four months. Certain Lexus CPO warranties last three years or 100,000 miles, depending on whichever comes first.
CPOs might also include deductibles, which means you have at least some out-of-pocket expenses in spite of purchasing the warranty. Make sure to read all the fine print pursuant to your used car warranty as well.
For example, an extended warranty for used cars lasts for five years, but also limits your coverage up to 75,000 miles. If your used vehicle already has 50,000+ miles accumulated when you purchase it, the extended warranty might not be worth the price.
Are you looking for the best deal on used car warranty prices and coverage terms? Extended warranties cost dealers a predetermined set amount of money. This is an important piece of information to take with you to the dealer when buying your used vehicle.
Dealers are capable of wrapping the price of your CPO into the total financed or outright purchase price of your used automobile. Push for a full CPO warranty over limited coverage terms at no extra charge to you.
Prices are negotiable, so use this fact to your advantage at the bargaining table when purchasing a used car and extended used car warranty.