What is an extended car warranty and how much can it save you?
Protect your vehicle and experience peace of mind with extended warranties
Owning a car can be really expensive, especially when unexpected repairs arise. According to recent research, vehicle owners in the UK pay out an average of £803 on repairs every year — that’s a huge amount considering that several other major costs come with driving.
One way to protect yourself from some of the financial burdens of these repairs is to purchase an extended car warranty. But what exactly is an extended warranty and how much can it save you? Continue reading to find out the answer to both these questions…
What is an extended warranty?
Whether you’re purchasing a brand-new smartphone or washing machine, there’s always a risk that something could go wrong. And while these items usually come with some sort of manufacturer warranty, they typically only cover your product for a short period of time.
This is where extended warranties come in. As the name suggests, an extended warranty goes beyond that of the manufacturer's warranty. It is an agreement between you and the seller or a third party to cover the cost of repair or replacement should your product be defective.
This is the case for vehicles too - both new and used; an extended warranty can provide protection for minor and major mechanical and electrical components depending on the level of cover required. The extent of your coverage is ultimately up to you and can vary depending on the provider you choose and the terms of your contract.
Benefits of an extended warranty
Saving you money on the cost of repairs is the most obvious benefit of purchasing an extended warranty for your used car, but it certainly isn’t the only one. Here is a list of some of the other advantages of protecting your car, van, or motorcycle:
- Peace of mind: Knowing that your vehicle is covered by a warranty can reduce the stress and anxiety associated with breakdowns or costly maintenance repairs.
- Expert repairs: Warranty repairs are often carried out by certified technicians using genuine parts, ensuring the quality of the work is top-notch.
- Coverage for wear and tear: Some extended warranties (ours included) cover repairs required due to standard wear and tear, such as wheel bearings.
- Resale value: If you decide to sell your car in the future and it still has an active extended warranty, this can boost its resale value. It gives buyers confidence they won’t have to deal with expensive repairs immediately after purchase.
How much can an extended warranty save you?
Now onto the interesting bit… What kind of savings could you expect to make if your vehicle breaks down unexpectedly? Here at Warranty First, we offer warranty packages at different levels of coverage and prices to suit your needs and preferences. Our most popular options include:
- Dynamic: Our most basic level of protection at £30 per month (£360 annually), covering the engine, gearbox, clutch, and other major components.
- Premier: Our most popular warranty plan at £35 per month (£420 annually), covering everything our Dynamic plan does and more!
- Exclusive: Our exclusive plan covers almost all components of your car, at £45 per month (£540 annually). The only exclusions are bodywork, software and firmware, miscellaneous components, and servicing and maintenance-related components.
The table below highlights some recent examples of payouts we’ve made across various vehicles and the savings our customers have made. Take a look for yourself!
|Audi||Clutch & flywheel||£1,220||£680|
|Fiat||Clutch & flywheel||£1,800||£922|
|Hyundai||Clutch & flywheel||£900||£360|
|Kia||Clutch & flywheel||£900||£360|
|Land Rover||Rear differential||£1,602||£1,062|
|Renault||Gearbox & clutch||£1,000||£460|
|Volkswagen||Evaporator (air con)||£1,401||£861|
Get the right warranty plan for you!
As you now know, an extended warranty for your vehicle could save you hundreds, if not thousands of pounds in potential unexpected motoring costs. So what are you waiting for? Get your vehicle covered today! Find out more about the warranty plans we offer here at Warranty First, or get in touch and we will be more than happy to help answer any questions you may have.