PITTSBURGH (KDKA) – You’ve shopped around for a new car, you’ve made your decision and you write that hefty down payment check.
The one lingering question many car buyers have left is – Should I get one of those extended warranties?
If you’re one of those people who drives your car into the ground, investing in an extended warranty may be for you.
“An extended auto warranty typically picks up coverage after a certain number of miles or a certain number of years oftentimes after the manufacturer’s warranty has expired. If you’re going to be driving your car for a long time it might be something you want to consider,” Angie Hicks from Angie’s List said.
Apparently a lot of people do consider them.
According to a nationwide Angie’s List poll, more than half of those surveyed have purchased an extended warranty.
- 43 percent paid more than a $1,000 dollars.
- 66 percent admitted they didn’t shop around for the best deal.
“When shopping for an extended warranty, take your time and do your research. It’s an important decision because the warranty is only as good as the company that stands behind it,” Hicks said.
Don’t give out any personal information like your bank account, driver’s license or VIN number until you probably vet a company.
Finally, despite the extended warranty make sure you do proper maintenance on your vehicle.
“In some scenarios the warranty might be voided if proper maintenance isn’t done,” Hicks said.
Obviously, if you change cars every few years these warranties just aren’t worth it.
There’s something else worth mentioning when considering buying one.
In that same Angie’s List survey, almost half of the people who said they bought an extended warranty never actually used it.