Two Types of Extended Vehicle Warranties
An extended warranty is basically car insurance that protects you against expensive unanticipated repairs within a specified period and mileage range. In contrast with true warranties, which are part of the vehicle price, extended warranties are purchased independently.
Original equipment manufacturer (OEM) and aftermarket are the two mind types of extended warranties available today. Toyota and Chevrolet are two examples of OEMs. Warranty or insurance companies are considered third parties when they have no direct business relations with an automobile brand. One example of a company that provides third-party service warranty is Cars Protection Plus.
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. It pays do your research on what these other services will be for different providers in your area. 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 most other types of insurance, a higher deductible lowers the total cost of the policy. What’s great is that OEM warranty deductibles are generally minimal (usually under $200).
In most cases, third-party or aftermarket warranty providers like Cars Protection Plus offer practically the same coverage that OEMs offer. But of course, these two are still independent products, and third-party warranties can still vary, depending on the specific company. They can also differ in terms of deductibles and general policies.
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 could be the most important advantage of third-party over OEM warranties is that they are dramatically cheaper. Sometimes, you will even have no other option but a third-party warranty. 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 importantly, choose a good provider such as Cars Protection Plus.
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