Media post: Motoring – Pros and Cons of Extended Warranties
There are up and downsides to everything. When we weigh decisions, we literally take the pros and weigh them against the potential cons. If we think the advantages outweigh the potential disadvantages, we choose in favour of the course of action we think is most likely to benefit us. Deciding whether to opt for an extended warranty on your car is one of these choices. Use these pros and cons to help you reach a decision.
Pros: You can Shop Around for Extended Warranties
Regardless of your make and model of car, you needn’t just settle for the automaker’s warranty. An Acura extended warranty, for example, can be purchased from several different companies. Check what the cover consists of as well as the monthly cost to determine which package offers the best cover for you.
Cons: You Might Never Take Advantage of an Extended Warranty
If all goes well, your car delivers reliable service and you never need to claim against your extended warranty. While having cover in the event of costly breakdowns gives you peace of mind, you may feel a little regretful about paying for it if you never need to claim. Of course, that’s supposing that you enjoy a smooth motoring experience. We certainly hope you will, but you can never be absolutely sure.
Pros: You Don’t Have to Break the Bank if You Need Costly Repairs
It’s the main reason why people opt for extended warranties. Something dreadful goes wrong with your car and the cost of your repair is shockingly high. If you have an extended warranty and the repair is covered by its terms, you can relax. The nightmare of scrimping, saving, and borrowing just to get your car back on the road is ont one you have to live through.
Cons: It’s a Monthly Expense Even When Your Car is Fine
In a sense, the predictability of the monthly fee for an extended warranty is actually an advantage. You can budget for it. But when everything is going well, it’s natural to feel a little resentful about the amount you’re paying for possible repairs when there are no repairs to be made.
Pros: Breakdowns Far From Home are Less Stressful
It’s bad enough having a serious breakdown when you’re close to home. When you’re on a long trip, it becomes so much worse. If you’re on a business trip, to attend a trade show, for example, you could be very far from your support system. Getting help is a worry that needn’t affect you if you are covered by an extended warranty. Of course, it’s still not a pleasant experience, but you’ll have one less thing to stress out about!
Cons: If You Don’t Drive Often or Far You May Not Need the Boost
If your car is just for short trips and occasional use, you may be able to take your time over raising funds for any repairs that are needed. And because the distances you drive are short, there’s less wear and tear and a lower statistical likelihood of things going wrong. While being able to afford getting your vehicle repaired fast is one of the biggest pros of an extended warranty, not needing this potential benefit would be the likeliest reason why you might decide to give it a miss.
