Shopping for a new car is never an easy decision, as there are so many different factors to think about. One of these things is worrying about getting the best possible coverage, and the best way to do this is to get a good car warranty.
Fortunately, vehicle manufacturers are well aware of the importance of car warranties, and they compete heavily to provide their customers with the top coverage options. With that in mind, here are some money-saving tips that should help you maximize the value of your car warranty.
1. Make Sure You Fully Understand Your Warranty
Most car owners make the same mistake over and over again. They fail to understand their warranty fully, which is why they continually fail at saving money. Each car warranty has certain exceptions that a car owner should be aware of.
By knowing all the details included in your warranty, you avoid discovering what isn’t covered when you least expect it. That’s an additional expense you don’t need. Car warranties don’t cover many things.
Certain parts that are more prone to regular wear and tear such as some electronic components, hoses, batteries, belts, wipers, tires, and brake pads, have a shorter coverage period.
So, to make sure you fully understand what’s covered and what isn’t, carefully review your car warranty and make notes of any notable exceptions.
2. Make Early Adjustments
The car warranty in your possession has you covered in full for the first year. In case there’s something you want to check, fix, improve, or learn how to use, simply call the service department for the guidelines.
However, it’s also worthy of mentioning that certain car warranties include free adjustments options you can use either once or just a couple of times.
Since free adjustments are one of the biggest benefits of having a car warranty, it would be wise to gather a comprehensive list of all adjustments you can make early on. It will help you save big bucks in the long run.
3. Match Your Car with Suiting Technical Service Bulletins
Service bulletins allow you to alert your dealer in case any potential problems arise with your car. However, these service bulletins often aren’t shared with customers unless the problem turns out to be fatal or dangerous enough to require a recall.
The best way to find TSBs is to search the internet and match your car model with the TSBs. That way, you can get heads up on any potential problems that are related to your model.
TSBs allow you to test your vehicle and ascertain any potential problems before they escalate and become additional costs. The moment you identify any valid problems, talk to your dealer to see what your options are on getting those problems solved for free under your warranty.
That’s one of the best ways to save with your warranty as these problems are usually quite expensive to fix on your own.
4. Keep an Eye on Expiry Dates
Make sure you get your warranty work done before the expiry date as doing this on time is one of the safest ways to make the most out of your car warranty and save some cash on the side.
If you’re a heavy driver, be mindful of the KMs, as certain extended car warranties include driving distance restrictions. Before your coverage is due to expire, run all checks of the technical service bulletins and make sure that you’ve covered everything regarding your specific car model.
Do a thorough test drive, as this might help you discover any potential problem. Once you’ve completed your comprehensive list of potential adjustments, talk to your dealer to see what your free repair options are.
You can also consider a 3rd party inspection. Get a seasoned and qualified professional that isn’t employed with the dealer to thoroughly inspect your car. It will add weight to your claims and significantly improve your chances of validating your free repair request.
5. Tread Carefully with Extended Warranties
Extended warranties are a considerable cost to think about. Most people say that purchasing a warranty extension is nothing more than an additional cost, but that isn’t the case. Different drivers have different needs.
Extended warranties may cost more, but they do offer a range of additional benefits that are well worth the money. Again, it all comes down to understanding the terms and conditions of your extended coverage to make an informed decision before purchasing. The good thing about these warranties though is that you can get a prorated refund if you decide to cancel.
All in all, it’s absolutely possible to save a significant amount of money with your car warranty and ensure longevity for your new car.
Warranties can help prolong the life of your vehicle, but it’s essential that you fully understand how they work and what options they provide.
It all depends on the terms and conditions, as well as the deal your dealer has with the manufacturer.