We are all aware that new cars are more advanced with superior technology today than ever before and each year we see the next best thing from one manufacturer or another. With these enhancements we are seeing tremendous advances in components such as GPS navigation systems, back up cameras (standard on several vehicles in 2013), touch screen audio systems and so much more. Consumers are beginning to realize the importance of having a car warranty to limit their financial exposure when one of these hi-tech components fails on their vehicle. The days of taking your car to “that guy” we all used to know and have it repaired has long since passed. Today, we are forced to take our vehicles to ‘automotive technicians’ to first have our car diagnosed with their expensive electrical equipment and then after the problem has been identified they can finally begin the repair process to get us back on our way.
So the question that now comes up during these conversations is when do I but a car warranty? When you search the internet for an answer to this question most of us would assume we could find the answer quickly and easily but the reality is we become even more confused. Here is what it boils down to, it’s always smarter and more cost efficient to purchase sooner rather than later. As we drive our vehicles and continue to add miles we increase the likelihood of parts failing. When we increase the chances of a part failing we increase the risk that car warranty companies are exposed to and therefore increase the rate they are forced to charge to cover the claims. One of the biggest mistakes new vehicle owners make is thinking they have the luxury of waiting until their factory warranty expires before purchasing an extended car warranty but if you wait you will just pay more and often times the car warranty expires at the same time anyhow.
Look, the obvious theme here is waiting will just increase the cost of your car warranty. We all know as the end of the year approaches things become very hectic, busy and expensive for all of us and saving any money these last few months of 2013 will be an enormous benefit. We tend to move important things down our priority list because they’re not important at the time but when our car breaks down its too late and we’re left stranded on the side of the road frantic because we don’t know what to do. Everyone’s car becomes a year older on January 1st and with that comes higher rates as well as reduced coverage options for our cars. What we need to remember is when we protect our cars what we’re really protecting is our families.