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Extended Auto Warranty – Fringe Benefits Matter Too

When buying extended auto warranty policies most of the time, buyers neglect the fringe benefits that are extremely important too. Fringe benefits mean you not only save on repairs and mechanical upgrading of your car but also the extra expenses such as damage due to rust or corrosion, damage to certain parts of drive-train components, car rentals, towing and other roadside assistance costs. These when clubbed together can really burn a huge hole in your pocket and make you feel as if you have actually paid for the repairs while being covered by extended car warranty.

So if you haven't bought an extended auto warranty as yet, make sure you buy the one which provides roadside assistance, travel reimbursements and other peripheral charges that will follow when your car breaks down. The importance of fringe benefits is best realized when servicing and car repairs are required in cities out of your native location. Say you're cruising along and happily driving when suddenly there's a jolt and you have a $600 repair on your hand. Extended car warranties will cover the repairs but what about the cost involved in renting out accommodation while your car gets repaired. Didn't think about it right? Well you will have to when the situation comes or hope that such a situation never ruins your vacation. Either ways make sure you are covered with extended auto warranty.

Check for the following under fringe benefits when buying extended auto warranty:

  • Rust & Corrosion Coverage – Check if the extended auto warranty provider is also offering assistance in rust and corrosion coverage.
  • Drive-Train Parts – All those parts that are not covered in the basic extended auto warranty may be covered under these.
  • Roadside assistance including towing and others.
  • Car Rentals
  • Travel reimbursement

 

While the major expense that of the car repair is what everyone focuses on, these secondary expenditures hurt the pockets a lot. But if you know better, you will do much better in selecting the extended car warranty that provides not just protection for your car but for you as well. So that you're never left stranded in the middle of nowhere with a broken down car and hope.

Fringe Benefits of Extended Warranty -Much More Than Mechanical Coverage

Although fringe benefits are not the whole and sole of extended auto warranty policies yet these would play a major role in influencing your decision about which extended car warranty to choose from. Obviously an extended warranty provider offering much more than mechanical coverage (read fringe benefits) will be a lot more oriented toward the car owner. Fringe benefits apart from fully protecting your interests also lends considerably to the authenticity and integrity of the extended warranty provider. Thereby further making the choice of extended auto warranty easier and much wiser.

An extended auto warranty is supposed to offer complete protection during its time period and as a car owner, you should avail each and every benefit that you are paying for.

 
Extended Auto Warranty Terminology – Understanding the Jargon

Extended auto warranty advisors may have confused you by throwing high-sounding words in the conversation and you for fear of appearing foolish let them pass. However, those resonate in your mind and the extended car warranty policy that you would have bought days before is still lurking inside your head instead of being signed and sealed in papers. Every car needs an extended auto warranty but every car owner needs an extended warranty which he or she can understand, analyze, examine and investigate. So that the future of the car is protected and the owner knows what is protecting it.

Here's a list of terms that you will come across or may have already found mention here and there if you had been looking for extended auto warranty.

Auto Warranty – This is what you want. It is an auto service contract dependent on the condition of the car. It's available for both new as well as old cars. Extended Vehicle Warranties are different from manufacturer's warranty and included different kinds of coverage policies for the car.

Administrator - The company that provides you the extended car warranty – covering the cost of car repairs, handles claims, etc. When choosing an administrator I.e extended warranty provider make sure that you check on its financial condition and strength.

Basic Warranty – It's the manufacturer's car warranty or the warranty that your car comes out with. The basic warranty is limited to specified mileage and time period. Basic warranty has different coverage criteria then extended auto warranty coverage.

BBB (Better Business Bureau) – It's an institution which helps track records of extended auto warranty companies. Their complaint healing history, financial stability, reliability, etc. can be easily check by consulting these. Every extended car warranty provider has to abide by the rules and regulations laid by the BBB.

Bumper-to-Bumper – A type of extended auto warranty that will cover parts of your vehicle from bumper-to-bumper with some exceptions. Car owners will be given a small list that will have the excluded parts.

Certified Cars – Certified cars are those that have been thoroughly inspected and come with an extended auto warranty – generally – PowerTrain car warranty.

Claims Reserve Account – An insured account shall pay for your expenses and is maintained by the administrator under your extended warranty contract.

Consumable Items – Certain items are not covered in the extended auto warranty such as tires, batteries, clutch plates and wiper blades.

Corrosion Warranty – Extended auto warranty will not cover corrosion and its effects. Basic warranties cover this.

Deductibles – This is an amount which you have to pay the car repair facility. The deductibles are set according to the extended auto warranty plans you take and are: $100, $50 or sometimes even zero.

Driver Train – A group of mechanical parts that transfers the force of power to the engine. This group or the Drive Train include clutch, transmission, driveshafts or axle shafts in front wheel drive.

Emissions Warranty – According to the Federal Warranty – there are two kinds of emissions car warranty I.e Emission Defect Warranty and Emission performance  which is of 3 years or 50, 000 miles.

Familiarize yourself with these terms and you won't be turning a deaf ear to the extended auto warranty advisor.

 
The Extended Auto Warranty Jargon – Part II

Picking up from where we left, let's try and conclude the list of extended auto warranty terms. If you have done some hunting around and interacted with extended car warranty providers then we are sure the list must be a bit familiar. Now to boost up your know-how more, following are the other terms that may have left you confused while speaking with the extended auto warranty administrator.

Emissions Warranty – This warranty is provided in line with the guidelines laid down by the Federal Emissions Warranty according to federal rules and laws. This is applicable throughout the US in all 50 states. Under the Federal Emissions Warranty, there are two kinds of emission control warranty, 'Emission Defect Warranty' and 'Emissions Performance Warranty'. The former is in accordance with the manufacturer's bumper-to-bumper warranty and the latter is based on performance and is for 3 years or 50,000 miles.

Gray Market Vehicle – A vehicle that is not manufactured for sale in the US. These are not eligible for extended auto warranty. Also these do not come with manufacturer's warranty.

Inclusionary Coverage – In this type of extended auto warranty coverage policy, the list of parts or components is already provided to the car owner to inform that these parts are covered under the extended auto warranty. The parts that are not listed are not covered under the extended car warranty.

In-Service Date – This is the date when the vehicle was put into use for rental, demonstration or any other purpose.

Lemon Law – This is perhaps among the more crucial things to know. According to this law, a vehicle with a history or repeated problems; major ones and has been repurchased or has had its priced negotiated will not be eligible for extended auto warranty coverage. The state declares them as Lemon Law or buyback vehicles unqualified for extended warranty coverage as well.

Mechanical Breakdown Insurance – In this the policy will pay for breakdown or any motor failure occurring due to mechanical failure of parts or skill of work or normal wear and tear. This is generally issued by the insurance company and not your extended vehicle warranty providers.

Repair Facility – This is the workshop/ repair facility where your car will be repaired and fixed. Extended auto warranty will pay for all the repairs and the car owners only have to deductibles. Also under some extended auto warranty contracts, a car owner can take his or her car to any repair facility unless it is specified otherwise in the contract. Dealerships, local mechanics and national repair facilities included.

Rental Benefit – Many extended auto warranty or car warranty providers reimburse the expenses accrued due to usage of substitute transport facilities while your car was undergoing repair. Along with rental benefits, roadside assistance is provided as well.

Salvage Title – When a vehicle is declared a 'total loss' by an insurance company then they cease to be eligible for extended warranty. This usually happens when a car has suffered irreparable damages due to natural disasters or being involved in a severe accident.

Transferability -  When the extended car warranty on your vehicle is transferable to the new owner at the time of selling, it is known as transferability. However you cannot have the extended auto warranty transferred back to a dealer.

Wear & Tear Protection – It is the most important coverage that a car owner can gain under the extended warranty. Extended auto warranty providers are extremely finicky in parting with this coverage. Wear and tear due to normal deterioration is never covered by extended car warranty but wear and tear by mechanical breakdown is. So when you buy an extended auto warranty, make sure that you are getting wear and tear protection.

 
Car Warranty Companies VS Dealerships: Who Has The Better Deal?

When someone is buying a new car, the dealership is sure to offer them a car extended warranty and make it seem as if they do not have another option. The truth is that there are many car warranty companies out there that offer similar packages. When the time comes to make a choice, consumers need to know if they should go with the first car warranty they are offered or shop around before making a choice.

Perhaps the only benefit to going with the dealership is that it is convenient. Customers can take the first option that comes along and do not have to bother shopping around to different car warranty companies on their own. However, that is where the positives end, since dealerships do not have much more to offer in this particular arena.

One of the major problems with dealerships when compared to car warranty companies is that they are far more expensive for essentially the same services. In many cases, a car dealership will charge as much as a thousand dollars more for a comparable package for an extended warranty company. The purpose of one of these packages is to save money in the long run, so it is counterproductive to spend more than is necessary on it.

One of the primary reasons that people choose car warranty companies is that they specialize in this type of protection plan. It is only part of what someone at a dealership does and they may not be completely knowledgeable about the product they are trying to sell. Going with a company that focuses completely on automobile protection plans is the best way to get excellent service and accurate information.

Another great reason to go with one of these companies instead of a dealership is the many options that will be available. These companies have a variety of packages available to their customers that can fit multiple needs and wallets. When making such an important decision, it is important to have a choice and find the solution that will best fit the individual’s lifestyle and budget.

People visit multiple places when they are shopping for a car, so they should visit multiple places when they are shopping for protection. Car warranty companies can offer a variety of plans at a fraction of what a dealership charges for the same product. Combined with better service, it is easy to see why so many people take this route when looking to cover their cars.

 
Extended Auto Warranty – Does the Car Matter?

Surprised at the quasi dumb question? Well, if you're one of those who thought that all you need for an extended auto warranty is a car then think again. Four wheels, a roof, and a boot won't get you coverage under any extended warranty policy. A car that remotely resembles an automobile or is a bad excuse for one will not get any extended warranty paying for its repairs. So if you're a reckless driver or a neglected car owner wake up today and get your cleaning and upgrading drive on because if you want to profit the maximum out of your extended warranty coverage plan, you got to have a car to envy!

Getting anyone (read extended auto warranty) to pay for your car repair and cover service expenses is not as easy as it seems. You have to have a car that is worth it and one that spends more time cruising on roads than in the workshops getting fixed. Also there are types of cars that are not covered under any extended car warranty policy and are known as ineligible.

Listed below are the car whose owners better stop seeking extended warranty for them and may just plan to but a new car with assured extended auto warranty.

Gray Market Cars – These cars not for sale in the US. Although they may be manufactured in the country but are not to be sold here. Not just extended car warranties, gray market cars are not even eligible for manufacturer's warranty.

Lemon Law or Buyback Vehicles – This lemon law won't feel tasty even in summers. According to this there are certain vehicles which have undergone repeated major repairs or have major faults in its machinery to an extent the even the price of the car is negotiable. Such cars are termed inappropriate to get covered under extended auto warranty. However there are provisions and people who may get cars out of this lemon-squeeze of a situation.

Salvage Title Cars – Cars that have been part of natural disasters or an extremely severe accident than it will definitely not be covered under extended auto warranty. Cars that are completely beyond repair fall under this category. No extended warranty coverage can be purchased for them.

Certified Cars – These have undergone an inspection and are not eligible for bumper-to-bumper extended auto warranty but only for powertrain car warranty.

So if you are least bothered about maintaining you car, then the extended warranty provider will be least bothered too offer coverage too. A car owner cannot control accidents or natural disasters but he or she can certainly keep the car spic and span, get it consistently and regularly serviced so that its efficiency, performance and operations are not compromised upon. This way you can even ensure getting the best extended auto warranty and benefit from it.

 
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