All You Need to Know About Used Cars & Auto Warranties
It is no secret that new cars lose a huge chunk of their value just as soon as their new owners drive them off the car lot. Purchasing a used vehicle appeals to many people on the market, shopping for their own means of transportation. A used vehicle not only diminishes the sticker shock of purchasing a new car from a dealership, but it also allows you to avoid the immediate depreciation in value.
Shopping for and purchasing a used vehicle, however, has its own challenges when it comes to ensuring you get a decent and reliable car for the money you spend. Consider the following advice when shopping for a used vehicle and auto warranty.
Essential Advice on Used Cars and Auto Warranties
Pay for an Inspection
Spending a little cash up front to have a trusted mechanic perform a thorough inspection of the car you are thinking about buying is absolutely worth avoiding potentially astronomical repair costs later. You should also obtain a thoroughly researched vehicle history and accident report from a company like CarFax or CarProof.
Find Out if There Is an Existing Warranty
If the used vehicle you want to buy is only a couple of years old, it might still be covered by a manufacturer’s warranty. These warranties cover quite a lot, and the added protection might be worth paying a little extra for a car that has only been slightly used.
Consider Purchasing an Extended Warranty
If the vehicle no longer has coverage from a manufacturer’s warranty, then you should research extended warranties, which will typically cover used vehicles with up to 150,000 miles. When it comes to extended warranties for used vehicles, there are plenty of options available. Do enough research to be sure you truly understand what type of coverage your extended warranty offers. Look for one that goes beyond covering mechanical breakdowns to include costs associated with wear and tear and larger expenses such as major repairs on the engine, fuel pump, and transmission or timing belt.
Don’t Purchase until you’re Sure: Book a Rental Car in the Meantime
One of the most important rules of shopping for a warranty or any vehicle – new or used – is not to rush into a decision. Take your time, do plenty of research and avoid making snap decisions. If you are in a transportation pinch, consider renting a vehicle until you find the right one to own. To learn more about purchasing a used car or to book a rental vehicle, contact one of Young Motors’ three locations in Fort McMurray today.
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