I bought my car new and the dealership insisted I take extended warranty. I was hesitant thinking it was just an upsell. Now I’m worried about expensive repairs in the future. Was I wrong to skip it? Do you advise motorists to buy extended warranty right away or to wait? What are the pros and cons?
Mabs Answers:
Getting a new car is emotional, and it’s hard to shake the feeling that sales reps want to cash in on your good mood by upselling extras you might not need. You weren’t wrong to skip the extended warranty at the time. If you didn’t need it, there was no rush.
An extended warranty can be valuable, especially if you plan to keep the car after the manufacturer’s warranty expires. Also known as mechanical breakdown insurance, it covers the cost of parts and labour following mechanical, electrical, or electronic failure of a covered part, and offers you peace of mind.
However, it comes at an extra cost, so you’ll need to budget for it. If your car is new,
reliable, and regularly serviced, you might not need one immediately. But buying it later could be pricier or involve stricter checks. Yes, you can still get an extended warranty after two years. Dealerships and insurance companies often offer them beyond the manufacturer’s warranty period. Shop around for a plan that suits your needs, but be prepared for possible higher costs and a full vehicle inspection. Some providers may also impose mileage or age limits.
