When you buy a new vehicle and you are offered one of those extended service contracts there is a real temptation to say no as it can seem like you are just being asked to pay more money for something which you may not need. Whilst these concerns are certainly understandable, the reality is that one of these contracts is in fact going to be a smart move and you should always look to say yes if you can afford to do so.
There are in fact many benefits of an extended service, or an extended warranty as it is often named, and here is exactly why this makes sense for you and your new vehicle.
Long Term Planning
If you are thinking about keeping the vehicle over a long period to time then this is certainly going to be a great idea as it will give the additional cover that you need. Whilst some look to buy a vehicle and change it again within a few years, there are also many people who do not and who buy a car with the sea of keeping it for a long time to come. If you fall into this category then the extended warranty is certainly going to be a smart move for you.
Repairs Cost More
If you have repairs to do after the original warranty has ran out then more often than not you are going to find that they cost more than what you are bing asked to pay for the extended warranty in the first place. All it takes is one thing to go wrong after the original warranty is finished for you to get your money back that you have invested in the extended warranty.
Passing It On
Even if you do decide to sell the vehicle before the extended warranty is up, you will be able to pass on the warranty with the sale of the vehicle. This will make your vehicle more attractive to a prospective buyer, it will also increase the value of your vehicle. Many people will love the idea of getting their hands on a used vehicle which has this level of extra cover.
Peace of Mind
Beyond everything else, buying the extended warranty gives you the peace of mind that should anything go wrong with the vehicle after the original warranty has expired, you will be covered. This greatly helps you with financial planning as you know that there will be no vehicle-related surprises which you need to plan for, and it will also give you the comfort of knowing that you have a safety net there should you need it.
To say no to the extended warranty is understandable, especially when you are already shelling out for a new vehicle. In spite of this however it is certainly worth thinking twice here to ensure that you get the cover which will provide you with the benefits listed above, it really does make sense.