Are Extended Warranties Worth it?

Whether you’re shopping for an exciting new Jeep or Chevrolet vehicle or a high-quality used model, you’re likely to be offered the opportunity to purchase an extended warranty. But you may be wondering, are extended warranties worth it?

The answer depends on your lifestyle and budget – for some Grand Island drivers who plan to keep their vehicle for many years, the extra coverage may be helpful. Learn more about extended car warranties, how they work, and the coverage they offer with the friendly finance team at Midway Auto Dealerships.



What Is an Extended Warranty?

An extended warranty is an optional coverage plan you can tack onto your new vehicle limited warranty. It provides additional maintenance coverage after the factory warranty runs its course. Plans will vary, but some include towing or roadside assistance if it’s something you’re interested in. You can think of extended warranties as an added safety net – there for you in the event of a powertrain issue or other major repair that might pop up after your factory warranty has expired.

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Extended Warranties for New & Used Vehicles

Extended warranties can be bought with both new or used vehicles, but your options will vary depending on the condition of the vehicle. Here are some key factors to keep in mind for both new and used vehicles:

New Vehicles

When it comes to extended warranties for new vehicles, you’ll want to take into consideration how long you plan to have the vehicle. If you don’t anticipate driving it for more than 10 years, an extended warranty may not be necessary, as most modern vehicles can be relied on to last that long without issue. If you plan to drive the vehicle for 10+ years, then an extended warranty could be helpful.

Used Vehicles

When considering used vehicles, it all depends on the reliability of the prospective car. Before making any decisions, have it inspected by a mechanic you trust who can point out or eliminate any possible issues. From here, you can determine whether an extended warranty would be a smart buy. Like with new vehicles, you should also consider how long you plan to drive the used vehicle before making your final decision.

Should I Buy Extended Warranties?

When asking “should I buy extended warranties?” it bears repeating: the decision is dependent on a number of factors, including your lifestyle and financial situation. Typically, extended warranties are reserved for Hastings drivers who are fearful of breaking their budget should a major issue or repair pop up. Extended warranties are simply an extra precaution; if you’re a cautious driver who likes to have added peace of mind, then you may find that yes, extended warranties are worth it.

Learn More About Your Options at Midway Auto Dealerships

To learn more about extended warranties and to view our extensive new vehicle inventory, contact us to set up an appointment at our showroom near Holdrege. Apply for financing online to get pre-approved before your visit, and be sure to take a look at our new vehicle specials designed to help you save.

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