Is an Extended Car Warranty Worth It?

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If you’re in the market for a new or used model, you may be wondering about purchasing an extended warranty. But are extended warranties worth the extra cost? This depends on your lifestyle as well as your budget. If you’re planning on keeping your vehicle for many years and would like the extra coverage just in case, the extended warranty will be worth it. Learn more about extended warranties, how they work, and what they cover with the help of the financial experts at Tulley Mazda.

What is an Extended Warranty?

An extended warranty is an additional plan you can opt in when you are financing your new or used vehicle that provides additional maintenance coverage once your factory warranty has expired. Each plan differs, though most allow you to tack on extras such as roadside assistance. In the event your vehicle’s powertrain warranty ends, and a major repair comes up, the extended warranty will help cover the cost, saving you more in the long run.

Extended Warranties for New & Used Vehicles

Extended warranties are applicable to both new and used vehicles, but they work differently depending on the condition of the car. Whether you’re looking to tack on an extended warranty on a new or used car, here are some tips to consider for both:

  • New Vehicles: When it comes to new vehicles and extended warranties, you should consider how long you plan on keeping the vehicle. If you think you’ll be switching models before 10 years of ownership, then an extended warranty isn’t right for you. If you plan to keep your vehicle for longer than 10 years, it’s recommended that you opt for the extended warranty. Additionally, be sure to check what the warranty coverage is for the new vehicle you plan on financing.
  • Used Vehicles: With used vehicles, it all comes down to the reliability of the vehicle. Have the vehicle inspected to assess possible issues. From there, you can decide whether the extended warranty would be a good idea for you. Similar to new vehicles, also consider how long you plan on having that used vehicle for before you decide.

Do I Need an Extended Warranty?

Again, the decision comes down to many factors, like your lifestyle and financial situation. Extended warranties are perfect for those who are worried about breaking their budgets if a major issue comes up, or a repair is needed. And if you have a used model that you plan to keep over 10 years, this warranty coverage will give you added peace of mind no matter where the Merrimack roads may take you.

Discuss All of Your Financing Options at Tulley Mazda

Learn more about your financing options with our finance center at Tulley Mazda. We can also help you calculate your monthly car payments, value your trade, compare models like the Mazda CX-9 vs. Toyota Highlander, learn about gap insurance, and more! Simply contact us or stop by our Tulley Mazda dealership for more advice or to begin the financing process.

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