Reader question:
I’m going to buy a new car. Should I also purchase an extended warranty?
Damien
Yes!
You might be trying to get a great deal on buying a new car at the time, and thus want to go as cheap as possible, but don’t let this get in the way of saving yourself money in the future. You can buy a cheap new car, but that doesn’t mean that it will be a great deal. The cheaper you go right now, the more you’ll have to shell out down the road. The best idea is to pay for the all the extras that you will actually need, and try to get the price down for your cheap new car by negotiating and shopping around and basically doing your research and knowing what you can get.
Because you will need an extended warranty for your new car. It doesn’t matter what great condition the new car is in right now, over time things happen, even on new cars, brand new cars, and not just small things. Engines go out, windows refuse to roll, tires blow out. You’re going to need to pay for maintenance costs, and you can avoid a lot of that pay out by just purchasing an extended warrant from the start to soften the blow on your wallet.
Think it costs too much? Think you’ll be satisfied with the manufacturer’s warranty? Think again. Consider such common failures such as in engine, which will cost you more than three thousand to fix. Or the transmission, almost three thousand. Just the motors for the windows can cost from six hundred dollars to one thousand. And you know that five seconds after that manufacturer’s warranty is no longer in effect, something will go wrong.
Cheers,
Fashun Guadarrama.