You have finally purchased the new automobile you have had your eye on for the last few months and now, as you sign the last few forms, you are asked about an extended car warranty. At first, the initial cost seems too much on top of the hefty expense of a vehicle purchase. Besides, you’ve bought the most advanced, highest quality vehicle on the market today. Nothing can go wrong with that, right?
In reality, you are probably more at risk than you think. With each new advance made in automobile design comes new equipment that can go wrong. The average cost of an extended car warranty around $1,500, well below the typical cost of just one electrical sensor should it decide to malfunction.
Before deciding for or against the extended car warranty, ask yourself whether you could afford a repair that wasn’t covered under the factory warranty. Without a warranty, you are pretty much on your own when it comes time for major, unexpected repairs. Then, take a look at all the features available on your new automobile. How many individualized moving parts do each one of those features utilize to function? The answer is probably a lot more than you want to know about. When you look at the sheer number of parts in a modern day automobile and the likelihood that one or two can at any time during the life of your car break, the extended warranty begins to look like a worthwhile investment in your own peace of mind.
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