A car warranty typically can last between three and five years when the vehicle is new. For used cars, dealers grant a three-month warranty. If you have a warranty covered by the dealership, there may be stipulations about only servicing the vehicle with them to maintain the warranty status.
Loans Unlimited is made up of a team of finance experts that will help you understand what warranties are, their coverage, and extended warranties. These pieces of information are necessary when you buy a car.
vs Extended Warranty
Most people understand that when you buy a product, it comes with certain guarantees of quality and longevity. Warranties are automatically awarded to you when you buy a brand new product. For cars, the warranty period is often applied to parts and labour. The coverage is valid for a significant period and usually up to a certain distance. Warranties provide a guarantee of excellent workmanship. Plus, they give you peace of mind knowing that you do not have to pay for issues should they arise within their duration.
Cars and other accessories installed in the factory or through dealerships are typically covered. You may want to refer to your owner’s manual to know the exact coverage of the warranty.
The conditions differ, but it is normal to find a warranty of at least three years or 100,000km, whichever comes first. There are brands, however, that provide unlimited warranty on kilometres.
On the other hand, an extended warranty works like a bonus. The manufacturer of your car may not offer an extended warranty cover. If you do find that it is present, the coverage usually works just like a regular warranty. Extended warranties are worth having. They work longer than the original warranty that the manufacturer provided you with.
When you want extra coverage or if you think the standard warranty is too short, consider getting extended warranties.
Warranties are essential since they mainly work like insurance. They protect you from significant costs brought about by car breakdown, specifically those due to mechanical failure. For example, the car has faulty airbags. Such a thing can occur even with reputable brands.
There are various forms of motor vehicle warranties, and all these choices are beneficial for you as the car owner. Simple products are focused on maintenance and repair. Others give you a chance to hold the funds, which means you take the risk on your own. If the car breaks down, you already have the necessary budget for its repair.
Note: Car warranties do not include accidental damage and normal wear and tear. If you need financial assistance for routine maintenance and other services, you may opt for a personal loan. Another alternative is to go for mechanical breakdown insurance if the car is faulty.
Loans Unlimited serves as an accredited intermediary for motor vehicle warranties. Our experience in the industry makes it easy for us to look for ways that will help minimise the impacts of unanticipated events. We can help you protect your asset by claiming your motor vehicle warranty correctly.
Contact our team on 1300 212 200 today.
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