Quick Answer: How Much Should I Pay For An Extended Warranty On A Used Car?

What does bumper to bumper warranty cover?

The bumper-to-bumper warranty covers almost everything between a vehicle’s front and rear bumpers.

Exceptions include specific “wear items” such as tires, brake pads, and windshield wipers, and routine maintenance like oil changes and tire rotations..

Who has the best certified used car warranty?

Hyundai offers one of the best CPO warranties in the industry. While many manufacturers only offer 1-year/12,000 miles comprehensive warranty, Hyundai offers the balance of the original 5-year/60,000 miles warranty in addition to the 10-year/100,000 miles powertrain warranty.

Is AAA extended warranty good?

The AAA Vehicle Extended Warranty is like having health insurance for your car. … This exclusive AAA extended service plan offers four coverage levels, each customized to your exact driving habits and, depending on the coverage you choose, may cover all major repairs for up to 7 years and 230,000 odometer miles.

Are extended warranties ever worth it?

Extended warranties are rarely worth your money. Products don’t break on their own, and when they do, the price of repairs is usually lower than what you’d spend on an extended warranty. … In most cases, it’s best to skip the extended warranty and use your extra cash to build up an emergency fund.

What do most extended car warranties cover?

An extended warranty is actually an insurance policy on your vehicle, a safeguard against expensive, unforeseen repairs. It covers repairs for an agreed-upon period of time and miles. … Extended auto warranties are really vehicle service contracts because they cost extra and are sold separately.

What is the best used car warranty?

Top Used Car Warranty CompaniesTop Used Car Warranty CompaniesBest For#1 EnduranceBest CoverageGet Quote#2 CARCHEXBest ServiceGet Quote#3 CarShieldBest ValueGet Quote#4 Protect My CarBest Maintenance PlansGet Quote1 more row•Mar 1, 2020

What is the best car warranty?

Top 10 New Car WarrantiesHyundai. 5 years/60,000 miles. … Kia. 5 years/60,000 miles. … Genesis. 5 years/60,000 miles. … Volkswagen. 6 years/72,000 miles for 2018 and 2019 models, 4 years/50,000 miles for 2020 models. … Mitsubishi. 5 years/60,000 miles. … Jaguar. 5 years/60,000 miles. … Infiniti. 4 years/60,000 miles. … Lincoln.More items…•

Is it worth getting extended warranty on a used car?

This isn’t surprising, because extended warranties make a lot of money for those who sell them. … “On average, you’ll pay about $1,500 on an extended warranty, and the average repair is $180. I don’t recommend buying extended warranties, ever. If you can’t afford a $200 repair on a car, then you can’t afford the car.”

How Good Is Home Depot extended warranty?

The Home Depot Extended Warranty Reviews The Home Depot has been a Better Business Bureau (BBB)-accredited business since 1989 and holds an impressive A+ rating with the BBB. Reviews from customers are mixed, with some complimenting quality customer service and others noting that representatives were unprofessional.

Is CarShield really worth it?

CarShield is well worth it, especially if you aren’t sure yet what kind of coverage you want with an extended auto warranty, because CarShield offers a wide variety of plans that will satisfy most consumers. We like that they offer monthly contracts.

Which is better CarShield or endurance?

If you want to deal with the same company when you shop for a plan and when you make a claim, go with Endurance. If you want a bit more control over monthly payment plans, check out CarShield. In the end, it’s a good idea to get a quote from both since the cost for similar coverage can be different.

What does Dave Ramsey say about extended warranty?

Dave explains he is not a fan of extended warranties in general, and he especially dislikes used car warranties. ANSWER: I never recommend extended warranties. Used car warranties are especially bad, because they’re expensive.

Who has the best extended warranty for used cars?

Top Reputable Extended Car Warranty CompaniesOur AwardMaximum Term1. EnduranceBest Overall15 Years2. CARCHEXBest Service10 Years3. CarShieldBest ValueNot Stated4. Protect My CarBest Long-Term PlansNot StatedJan 2, 2020

What does 5 year 60000 mile warranty mean?

Most of us know the new-car basic warranty, often referred to as the “bumper-to-bumper warranty,” is designed to protect the owner against any factory defects during the first few years of ownership. … You’ll only get a five-year, 60,000-mile warranty dating from when the vehicle was first sold.

How much should I pay for a used car extended warranty?

The more “used” a vehicle is, the more expensive extended coverage will probably be. The average monthly payment for an extended warranty is around $1,200 to $1,500, but this can vary widely depending on the aforementioned factors.

Does AAA offer extended auto warranties?

Avoid unexpected, costly repairs on your new or pre-owned vehicle with an extended warranty from AAA. … Our cost-effective plan options extend coverage to virtually all mechanical and electrical components after your original warranty expires.

How many miles does an extended warranty cover?

A large portion of cars on the road today that need repairs have passed the 100,000-mile mark. An extended warranty is like an insurance policy for your car. Many original manufacturers’ warranties for new vehicles are limited to three to five years and only cover a vehicle up to 36,000 miles or 60,000 miles.

Can I get a refund on my extended car warranty?

How to get your money back. You can cancel an extended warranty at any time and you’ll get a prorated refund for the unused portion of your policy. If the warranty was included in your loan, your car payment won’t drop, but you may pay off the car sooner after the refund is deducted from your balance.