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Should I Get an Extended Warranty on a New or Used Car?

U.S. News & World Report - Cars Logo By John M. Vincent of U.S. News & World Report - Cars | Slide 1 of 12: Car buyers naturally spend most of their time researching what vehicle to buy and how much to pay for it. Few consumers put much effort into researching the add-ons that they will be offered in the dealership’s finance office. The lack of preparation can cost thousands if you don’t know which add-ons are worth it, and which ones to avoid.Buyers will almost always be offered an extended warranty of some kind. They go by a lot of names, including extended service contract, extended warranties, mechanical breakdown insurance, service agreements, and vehicle protection plans. Most promise to pay for unexpected repairs after the manufacturer’s warranty expires.Should you consider an extended warranty on a new or used car? It depends on a lot of factors. We’ll guide you through the decision-making process on the following pages.

11 Questions to Ask Yourself About Extended Car Warranties

Car buyers naturally spend most of their time researching what vehicle to buy and how much to pay for it. Few consumers put much effort into researching the add-ons that they will be offered in the dealership’s finance office. The lack of preparation can cost thousands if you don’t know which add-ons are worth it, and which ones to avoid.

Buyers will almost always be offered an extended warranty of some kind. They go by a lot of names, including extended service contract, extended warranties, mechanical breakdown insurance, service agreements, and vehicle protection plans. Most promise to pay for unexpected repairs after the manufacturer’s warranty expires.

Should you consider an extended warranty on a new or used car? It depends on a lot of factors. We’ll guide you through the decision-making process on the following pages.

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