Should You Apply For An Extended Car Warranty?

Buying a car is a big financial decision. But maintaining and caring for it over the years can have its own share of issues. An extended car warranty can alleviate these worries by providing you with financial assistance in the event of a break-down or electrical failure during the specified period.

 

Gumtree outlines the pros and cons of getting an extended car warranty for your vehicle:

Pros:

  1. Save money: One of the biggest advantages of having an extended car warranty is that you can save a significant amount on costly repairs. This saves you the hassle of coughing up a huge amount of cash when there is a break-down of a particular component.
  1. Customisation: You can customise your extended car warranty to cover only the components you want. Thus, you can lower your cost per month as you only pay for the parts that are covered.
  2. Keep your vehicle longer: Usually, when car repairs start mounting up, owners feel the need to sell their vehicle, even if they do not want to. However, with the extended warranty, they have the choice to keep the vehicle longer if they wish to.

Cons:

  1. Cost to keep the warranty: The extended warranty will be attached to a monthly payment, regardless of whether you use the warranty or not. In the long-term, this is not always financially viable for car owners.
  2. Coverage: Extended car warranties do not cover all repairs. 

 

Gumtree recommends that you read the fine print before signing on the dotted line to avoid being caught off-guard.

 

Now that you’ve got the knowledge, it’s time to shop! Head to gumtree.co.za or your Gumtree app (click for Apple & Android) and don’t forget to use your location settings to find car warranty information close to home.

 

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