A Used Car Warranty: How Can It Help You Save Money During an Unexpected situation?

Purchasing a car can be complicated due to the number of decisions that must be taken. As a prospective car buyer, you have many options before you. This includes deciding whether to buy a new car or a pre-owned one. Besides, it would be best if you decided on the make, model, year, mileage, and other factors. 

An additional concern with used cars is maintenance and repairs. Although this is a concern with new cars as well, you expect a new car to perform efficiently for at least a few years before it begins to have issues. Moreover, for a new car, you have factory warranty protection. However, a used car will be subject to wear and tear from frequent use. Hence, the likelihood of repairs is greater with a used car than with a new one. This is a big worry for used car owners as repairs and replacements can be expensive. 

Warranties are a great way for used car owners to protect their investments. Buying a used car warranty coverage is always preferable to cover the cost of repairs and replacements.

Rising repair costs

The cost of vehicle maintenance has been on the rise for many years. While the regular maintenance of your vehicle may only require the replacement of parts such as brake pads and filters, over time and with wear and tear, more expensive parts such as the water pump, fuel pump, injectors, battery, AC system, etc. may need replacing. So it is essential that you plan for these expenses in advance so that you are not caught off-guard, having to spend a large sum on repairs at a moment’s notice. This can adversely impact your finances. An extended car warranty helps you plan for such costly expenses on the repairs and replacements. Let’s understand car warranties and how they help protect your vehicle.

Understanding used car warranties

A car warranty is a contract provided by the vehicle manufacturer or a third-party provider that guarantees the repair or replacement of particular components that malfunction due to problems with the design or installation within a specific time frame or mileage.

The automotive market offers two basic kinds of car warranties: factory warranties and extended car warranties. Depending on the age of your used car, it could come with either a factory warranty or an extended car warranty. Warranty coverage for a used car is extremely important, so if your used car doesn’t have coverage, you should ensure you invest in one to safeguard its performance and efficiency.

Why do you need a used car warranty?

To ensure your used car functions efficiently you must service and maintain it regularly. Besides, any electrical or mechanical issues should be sorted out immediately to prevent the problem from worsening and affecting the other parts of the car. The cost of routine maintenance and necessary repairs can add up to a large sum of money. This is where a used car warranty can help you save money spent on repairs and maintenance while protecting your vehicle.

1. Protection from unexpected repairs

A used car warranty helps by footing the bill for expensive repairs and replacements that are covered under the contract. By purchasing the appropriate used car warranty plan, costly repairs will be paid for by the warranty provider while you will only have to worry about any deductibles that may be charged under the contract.

2. Use it to fill in the coverage gaps

A factory warranty offers comprehensive coverage for a vehicle while the insurance protects it from accidental damage. However, these may not cover all the repairs and replacements a used car needs as it ages leading to gaps in the coverage for your used vehicle. Repairs and replacements that fall outside the coverage of your factory warranty will have to be borne by you out of your pocket. To fill these gaps, you can opt for a customized used car warranty plan to cover every eligible part of your used vehicle.

3. Boosts resale value

Certain used car warranties are transferable on the sale of a vehicle. Such warranty coverage on your used car can help you upsell your vehicle in the used vehicle market. This is because prospective buyers find vehicles with warranty coverage to be more attractive as these vehicles tend to be better cared for and more reliable.

4. Specialized coverage packages

Certain used vehicles may not be eligible for standard used car warranty coverage. However, many used car warranty providers offer specialized warranty packages that cover repair costs for such vehicles. High-mileage used vehicles are such a class of vehicles that do not receive used car warranty coverage since they have crossed the mileage threshold. Used luxury vehicles too can fail to receive standard coverage due to the excessively high costs of premium repairs and replacements. However, used car warranty providers offer plans specifically created to meet the needs of such vehicles.

Opting for a used car warranty for your vehicle is the ideal way to manage its repairs and replacement costs. Used car warranties from third party car warranty companies are highly customizable and can be tailored to fit vehicles. In the long run, with repair bills being met by your used car warranty, and considering the rising inflation, you would receive maximum benefits out of it.

MP WARRANTIES – THE MOST VERSATILE WARRANTY PROVIDER IN THE UAE

We are MP Warranties, a versatile and highly reliable car warranty provider in the UAE. We offer car owners highly customizable used car warranty plans with comprehensive coverage. All our services are priced reasonably. Don’t wait for your used car to break down to begin thinking about a used car warranty. Get one today and ensure your peace of mind. Call us at +971 501 604 953 for a quote.