Are Extended Warranties Worth It?

2019 Ford Escape Lakeside

One decision that will come up whether you’re shopping for a brand-new model or a used Ford is whether you should sign up for an extended warranty. Are extended warranties worth it? They can be if you’re buying used or you’re buying any vehicle you plan to keep for a long time. Also, extended warranties are well suited for those who may not be able to afford a large unexpected repair. Learn more about extended warranties below, so you can answer the question, “Should I buy an extended warranty,” for yourself. 

What Does an Extended Warranty Cover? 

An extended warranty is additional protection that you can add that will take over when your standard new or used vehicle warranty has expired. This warranty can cover the repairs of crucial vehicle systems and help you avoid costly repairs in the event of a powertrain failure. What’s more, some extended warranties include, or have the option to add, towing and roadside assistance coverage. 

Should I Buy an Extended Warranty for a New or Used Car?

You can find extended warranties offered for both new and used vehicles around Minnetonka. However, whether or not you need one will depend on your situation and financial circumstances. Learn more about the ins and outs of these extended warranty options below: 

New Vehicles

Deciding whether you should get an extended warranty for a new vehicle? You’ll want to consider a few factors, such as:

  • Do you plan on swapping out your vehicle in the next 10 years? If so, then you may not need one, as vehicles are built to be more reliable than they were in the past. 
  • If you’re planning on keeping your vehicle for more than 10 years then an extended warranty can definitely be worth the investment. 
  • It’s also worth checking to see what insurance coverage is included with your new vehicle purchase. 

Used Vehicles

When it comes to used vehicles and extended warranties, it’s all a question of reliability. Consider: 

  • Having the vehicle inspected and an estimate created for any vehicle issues. 
  • Decide how long you plan on keeping the vehicle. 

Are Extended Warranties Worth it for Me? 

An extended warranty is a great fit if you’ve decided you feel more comfortable having a safety net or wouldn’t be able to easily afford a large repair if it were required. If you have the ability to cover an unexpected repair, then you may not need to acquire an extended warranty. 

Explore Your Financing Options With Cornerstone Plymouth

If you have additional questions about warranty coverage and options, you can speak with the team at the Cornerstone Plymouth finance center. We can help you understand the costs and coverage associated with any of our extended warranties today near Maple Grove!

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