When purchasing a pre-owned vehicle, you might consider getting a used car warranty for long-term coverage and protection. Used car warranties can cover the cost of repairs or replacements to fix damage to your vehicle due to an accident or faulty parts. Depending on the warranty type, you can take your vehicle to a certified repair shop connected to the provider.
Types of Used Car Warranties
Here’s a look at the different types of warranties available with a used car purchase:
Manufacturer’s Warranty
Franchised dealerships connected to the original manufacturer will typically offer you a manufacturer’s or factory warranty when you purchase a factory-certified pre-owned vehicle from them. For example, if you purchase a certified pre-owned Mitsubishi at Boardman Mitsubishi, Ohio you’re eligible for a warranty backed by Mitsubishi, which helps cover the costs of repairs and replacements with genuine manufacturer parts. This warranty may cover the vehicle for a specified number of years or miles and offer automotive service from the manufacturer’s service centers at selected dealerships.
Extended Warranty
Used cars that are old, have high mileage, or cannot be factory-certified may still be eligible for a warranty. Providers may offer an extended warranty for these vehicles to cover services and repair or replacement costs beyond the car’s original warranty. Extended warranties may cover regular maintenance services or repair costs. The coverage in an extended warranty depends on where you purchased the vehicle and its age, mileage, and model.
Third-Party Warranty
Third parties are not attached to a manufacturer-backed dealership selling used cars. A third-party warranty is typically an extended warranty that helps cover unexpected costs for repairs or malfunctions after the original factory warranty expires.
Key Factors To Consider
While used car warranty types may vary, you’re likely to receive the same kinds of coverage, such as maintenance, repair, or replacement parts, across a specified time or mileage. Review the key factors affecting a warranty’s worthiness to find the best one for your vehicle and driving style.
Coverage Details
Choosing a specific warranty type that aligns with your needs is wise depending on where you live, how often you drive, or the car’s current condition. Consider purchasing one or more used car warranties that cover the following:
-
Bumper-to-bumper:This warranty covers almost all vehicle components minus a few exclusions that the seller determines.
-
Powertrain:This covers the cost of repairing your used car’s engine, transmission, and drive axles.
-
Drivetrain:The drivetrain warranty covers your pre-owned vehicle’s transmission and drive axles but not the engine.
Anti-perforation:This covers your car&’s exterior repairs, including body panels with holes, but excludes surface corrosion.
-
Corrosion:This covers repair costs related to rust.
Duration and Mileage
The length of coverage necessary on your used car will make certain warranties more desirable than others. Some providers offer a 30-day warranty or a grace period if you change your mind and wish to return your vehicle. If you only need a used car temporarily to save for a new one, a limited-time warranty lasting three years or 36,000 miles is ideal. However, if you intend to keep your used car for a long time, consider an extended warranty, which can last up to seven years or 200,000 miles, depending on the provider.
Transferability
Transferability of a used car warranty can increase your vehicle’s resale value, but you need to know whether you can transfer the warranty to subsequent owners. The dealership or third-party provider where you received your used car warranty may offer an option that allows you to transfer protection from one car to another. Depending on your contract, they’ll specify how long you have before you must inform them that you’ve sold the car or wish to transfer the warranty to another person.
Deductibles
Similar to auto insurance, the deductible on a used car warranty is what the provider expects you to pay to receive coverage or subtract from the reimbursement after repairs are complete. The price of the deductible can affect the cost of your warranty. The higher the deductible, the lower the cost of the warranty. However, if something were to happen to your vehicle, your out-of-pocket expenses would be greater with a higher deductible.
Red Flags To Avoid
As with any major purchase, you should watch for red flags to protect yourself and ensure you get the best deal. Here are some things to look out for when purchasing a used car warranty:
-
Fine print: Always read the fine print of your used car warranties before signing off on them. This ensures your understanding of the provider’s expectations and coverage limits.
-
High-pressure tactics: When shopping for a used car warranty, exercise caution when you encounter high-pressure sales tactics, as the salesperson may be trying to sell you unnecessary warranty products.
-
Unreputable providers: Research warranty providers thoroughly and avoid companies with negative customer service ratings or a known history of claim denials. Consider dealing with a certified pre-owned car dealership linked to your preferred manufacturer, as this option is the most reputable.
Tips for Negotiating
Whether you’re on a budget or trying to save for a new car, it’s prudent to discuss your options with the dealership or provider to find the best-priced deductible to suit your budget while offering adequate coverage. Here are some additional tips to get the best deal.
-
Research: Research available warranty options in your area to find one that matches your driving needs before visiting the dealership.
-
Compare: An effective way to find the best value is to compare warranty offerings from multiple sources
-
Negotiate: You may be able to customize the warranty term length, coverage options, or deductible cost to fit your needs and lower the overall warranty price.
Learn More About Used Car Warranties at Boardman Mitsubishi
Researching a pre-owned vehicle in Boardman, Ohio is just as important as finding the right used car warranty. This process helps you make an informed purchase decision, sticking with what you need, such as powertrain and bumper-to-bumper coverage, rather than adding unnecessary warranties such as corrosion coverage on a used car in mint condition. Need help finding a used car with a good warranty? Contact our sales professionals at Boardman Mitsubishi at 888-891-9049 for further assistance. We’ll guide you through our available warranty options.