The New Extended Car Warranty That is Changing California
According to a recent study by ISH Markit, the average age of cars currently on the road in the United States is 12 years. Increased quality, a looming recession, and other factors have encouraged people to stay on the road longer than ever. However, with age comes wear and tear, and many warranties only cover a vehicle for a limited time and mileage. Once engine parts start to break down, repairs can become costly, easily wiping out a savings account or adding to credit card debt. Olive Mechanical Breakdown Insurance offers an affordable solution to California drivers with vehicles that are beyond their warranty.
Protecting Your Used Car
Once their warranty expires, many people wonder, "Can you buy an extended warranty on a used car?" The answer is yes, extended warranties are available for previously owned vehicles. The level of coverage that you can get and the monthly payments varies based on factors such as the car's age and mileage. You can choose from basic coverage to extended coverage. In most cases, if your car is less than 11 years old with 140,000 miles or fewer, you should be able to find mechanical breakdown insurance, also known as an extended warranty.
If you've purchased a car that is less than 3 years old and has relatively few miles on the odometer, your used car may still be covered by the manufacturer's original warranty, but it is always wise to invest in an extended warranty for repairs that happen after the warranty has expired. Some people are hesitant to buy an extended warranty on a used car, because of the extra money that it costs on a monthly basis. But that extended warranty can help add years to the life of your car. If your extended warranty covers the cost of a $3,000 transmission repair, not only do you save the money for the initial repair but also the cost of replacing the car, which might happen if you have to pay for the transmission out of pocket.
What Is Covered?
Parts and services that are covered with mechanical breakdown insurance vary based on the level of coverage. If you've selected a plan that only covers basic parts like the drivetrain, engine and transmission, you will probably have to cover other items, like the suspension, out of pocket. More extensive plans are more expensive, but they may cover these parts as well. Be sure to read through your plan to determine what is covered. For instance, it may not cover regular wear and tear, or you may find yourself footing the bill if you have neglected your routine maintenance.
Changes in California
Many California car dealerships offer buyers a Vehicle Service Contract when selling a car. While this can be a viable option for car owners, there are drawbacks to these contracts. For one thing, in California, they can only be sold by vendors that are licensed to sell them, and often, consumers can only buy them at the time of the sale. In a high-pressure situation, you might not always have time to read the fine print in detail, which can come back to hurt you later. Another drawback of a Vehicle Service Contract is that many of them only cover a limited number and/or type of repair. If you have been pressured into buying the contract without reading the fine print, you may not know what is covered, and only find out that a major repair isn't covered until it's time to do the repair.
With mechanical breakdown insurance from olive, California drivers can read through all of their options before buying a plan. They can also buy the policy later after they have driven the car for a while and have become more familiar with its mechanics. This extended warranty offers better protection, and a range of coverage options lets car owners choose the level of coverage that is best for their car and their budget.
For the past two decades, car manufacturers have been focusing more of their attention on quality, making cars that can last for 200,000 – 300,000 miles. The chances of making it to this milestone are greatly increased with routine maintenance, but components of the engine and other mechanical pieces will inevitably break down. Californians are saving a lot of money on costly leases by owning a car for years after they have paid if off. Older cars also cost less to insure, and the registration fees are also cheaper over time. Mechanical breakdown insurance helps provide peace of mind to drivers cruising California roads with older cars.