How badly do you need your truck to work?
The question to ask when thinking about an extended warranty for your truck is, "How badly do I need my truck to work?" That's because buying an extended truck warranty can be great insurance for keeping your truck on the road — but it will cost you a bit of cash each month to have that peace of mind.
For many people, their truck is their livelihood. They need their truck running and running great. If this is the case for you and you are worried that unexpected budget-busting repairs could keep you off the road, then purchasing an extended truck warranty may make sense. It will give you peace of mind knowing that repairs will be made right away and you can get back to work.
Before committing to an extended truck warranty and a warranty company, take the time to explore the ins and outs of the various coverage options. You can save hundreds of dollars by comparison shopping for an extended truck warranty quote. Many coverage options look similar yet have very different prices, so be sure to read the fine print.
Here's a list of important questions to consider:
Do you really need an extended truck warranty?
Your vehicle is one of your biggest investments, and an extended car warranty will ensure it's repaired if anything goes wrong. Did you know that the average major repair is over $2,000? With the complexity of today's vehicles, one major repair often costs more than the extended warranty.
You are making a bet when you buy any extended truck warranty. You are betting that the total amount of the warranty payments will be less than the amount you would pay when your truck breaks down. Before purchasing a warranty, think critically about your particular truck. Is it a make and model that will run for 150,000 miles just by changing the oil regularly? Then you might not want to pay for an extended warrantee. But if your car has a tendency to break down, or if you can't afford to make a large lump-sum repair payment, a truck warranty can be a great investment.
When should I buy extended warranty coverage?
An extended truck warranty is less expensive the earlier you purchase it. As your truck ages and accrues mileage, the price for protection rises. The newer your truck is, the lower the prices and the longer the terms. The warranty company usually takes into account the time left on your manufacturer's warranty, if any, and takes over after it expires.
What should I look for in the warranty's coverage?
Be sure the most expensive parts of the truck are covered, namely the engine and power train.
How will my claims be handled?
Look for a company that handles all aspects of your claim — and allows you to use the repair facility of your choice. Don't get locked in to going to their preferred provider, who may not be the best option for you.
The warranty company should pay the repair facility immediately via corporate credit card. They should cover all parts, labor and even sales tax (if applicable) with no limit on the number of claims you may have, or the parts that may be used for replacement.
Make sure that the warranty company you are considering will pay the full, posted labor rate to the repair facility and not just the hourly rate designated by the repair guides.
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