The Importance of Securing a Warranty Plan for Your Pre-Owned Electric Car

Like conventional fuel-powered cars, EVs require regular repairs and maintenance for efficient performance, even more so with pre-owned EVs. Thus, you must secure your pre-owned electric car with a warranty plan to safeguard your finances from potentially high repair bills that may arise in the future.

Understanding warranties for pre-owned electric cars

Extended warranties for pre-owned electric cars

Extended warranties for pre-owned electric cars are vehicle service contracts that cover the repairs on certain components of your EV after the factory extended warranty expires. 

With extended EV warranties, all the parts covered by the warranty will be mentioned in the contract along with a list of exclusions. Exclusions may include components that experience wear and tear and must be replaced frequently such as air filters, wiper blades, brake pads, etc. This is why you need to read the warranty contract thoroughly before signing. Your warranty contract will also have a clause mentioning deductibles. This is a sum you will have to pay out of pocket each time you make a claim on your warranty for repairs to your Electric car.

Extended Electric car warranty coverage

The EV warranty contract will specify the coverage your extended warranty plan provides. This may include all or some of the following components;

• Ev Battery Pack
• On board charger
• Electric motor
• Charging port
• Inverter unit

Besides this, you may also receive a few additional benefits along with your extended electric car warranty.

Emergency roadside assistance including towing and replacing a flat tire. 

Why you need an extended warranty plan for your pre-owned EV

Sense of security

With a warranty in place for your pre-owned Electric car, you can enjoy a sense of security and peace of mind knowing that in case anything goes wrong with your car, payment for repairs will not have to be borne by you. The complexity of Electric car batteries and electrical systems makes repairing them extremely expensive once the factory warranty has expired. A warranty offers you financial protection against expensive EV repairs. 

Improves resale value

Like conventional fuel-run cars, EVs too appreciate in resale value with warranty coverage. This is because potential buyers find EVs with warranty coverage more attractive due to the remaining coverage getting transferred to the buyer on the sale of the EV. Warranty cover also ensures the vehicle is cared for with regular maintenance and repairs. Without a warranty, potential buyers would hesitate to buy an EV, due to the generally high cost of repairs of electric vehicles.

Secures expensive EV components

The Electric car battery pack, motor, and charging systems are the most expensive parts of the car, and replacing them causes a huge financial drain. Hence, an extended car warranty plan is crucial for coverage of these key components once the factory warranty expires.

Coverage for diagnostics and labor charges

Many warranty providers offer coverage for the cost of Electric car diagnostics and labor charges on repairs. This, again, leads to huge savings and protects against out-of-pocket expenses as the diagnosis and repairs of Electric cars tend to be complex and expensive.

Emergency roadside assistance and other benefits

Car warranty providers often include extra benefits with their warranty plans. These can include emergency roadside assistance, reimbursement of rental car charges, and food and travel reimbursement. Roadside assistance can consist of towing your EV to a repair shop, locksmith services, replacing a flat tire, etc.

Coverage for complex electric components

Electric cars have parts such as the battery management system that are exclusive to these cars and not found in conventional vehicles. These are complex systems that need specialized care and are expensive to repair. An extended EV warranty will ensure you remain stress-free about such repairs.

Coverage for degradation of the battery

Certain warranty plans will also provide coverage for degradation of the EV battery beyond a certain threshold. This means you can repair or replace the battery when it wears out over time.

Coverage for evolving technology

EV technology is rapidly evolving and requires constant updates and changes. Again, getting these changes and updates done, is costly. But with an extended EV warranty in place, you will not have to worry about such expenses as they will be covered by the warranty plan.

An extended warranty on your pre-owned EV is worth it given the high costs of EV repairs and replacements. It will bring you peace of mind and the reassurance that you will be financially covered in case of unexpected repairs. 

MP Warranties – A Reliable EV Warranty Provider in the UAE

We are MP Warranties, an Electric car warranty provider in the UAE you can trust. We are committed to helping customers ease the burden of EV repair costs, particularly concerning pre-owned vehicles. We ensure your peace of mind with our diverse range of affordable EV warranty plans, which offer basic to comprehensive coverage. If your factory warranty is about to expire, or you wish to buy an extended EV warranty for your pre-owned car, we invite you to explore our extended EV warranty options. Enhanced financial security is just a call away! You can reach us at +971 501 604 953.