The Key Elements of Great Automobiles

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Two Types of Extended Vehicle Warranties

An extended warranty is actually a type of car insurance that provides safeguards against costly and unforeseen repairs for a certain period of time and mileage. In contrast with true warranties, which are part of the vehicle price, extended warranties are purchased independently.

Two Types

Original equipment manufacturer (OEM) and aftermarket are the two mind types of extended warranties available today. Toyota and Chevrolet are two examples of OEMs. A third party would be a warranty or insurance company that has no direct affiliations with a vehicle brand. One example of a third-party service warranty provider that is fast growing in popularity is Cars Protection Plus.

OEM Warranties

Two types of warranties that OEMs offer are powertrain and bumper to bumper. A powertrain warranty covers engine and transmission issues that are related to workmanship, while a bumper to bumper warranty is intended for most other potential problems with the vehicle, including those involving the vehicle’s electronic systems (power seats, navigation.).

In most cases, an extended OEM warranty’s features are similar to those that are provided with a new vehicle purchases, plus additional services like roadside assistance. Research what such other services will be for various providers in your location. For example, in Murrysville, Pennsylvania, Cars Protection Plus is one of the best choices you have.

Cars Protection Plus

As you choose the best warranty for you, you may have to select between a package that comes with or without a deductible. Like any other type of insurance out there, a bigger deductible will automatically reduce the policy’s total price. The good news is that OEM warranty deductibles are typically minimal – below $200.

Third-Party Warranties

Usually, third-party or aftermarket warranty companies, such as Cars Protection Plus, provide mainly the same coverage that you can expect from OEMs. But of course, these two are still independent products, and third-party warranties can still vary, depending on the specific company. Policies and deductibles, for one, are usually different as well.

Original equipment manufacturer and third-party warranties may also differ in the way they administer coverage. With a third-party warranty, for example, you may have to pay for a repair out-of-pocket and then file for reimbursement after. The process may take some time, but if you choose a good provider like Cars Protection Plus, this will hardly be an issue. In any case, payment expectations should be known to you right from the beginning.

What you may find most advantageous with third-party warranties compared to OEM warranties is that they are incredibly cheaper. There are even cases where a third-party warranty becomes the only option you have. So for example, if you bought a used Chevrolet from a Toyota dealership, it’s unlikely that you will get a Chevrolet OEM warranty.

If you intend to buy an extended warranty from a third party, make it a point to review the fine print thoroughly. Most of all, pick a good provider like Cars Protection Plus.