Direct Buy Car Warranty Reviews
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In July 2014, Truong and his wife, Elizabeth, paid $3,365.55 for a service contract to cover their 2010 Mercedes they had purchased from a used car dealer. The car didn't have a warranty and Truong turned to Direct Buy Auto Warranty. He said he purchased a "Platinum Elite" plan so he didn't "have to worry about something going wrong."
If you know what to look for in a service contract, you have plenty of excellent options for coverage. We typically consider the following five categories when evaluating the best extended car warranty providers.
How to check: One place to start is the Better Business Bureau (BBB). The BBB rates a provider based on how it resolves customer complaints, the transparency of its business practices, and any known licensing or advertising issues. We also recommend looking into how long a warranty provider has been in business and how many states it serves.
How to check: Most extended warranty providers offer easy-to-use quote tools online. In some cases, you may have to call to request pricing. Most providers also offer payment plans, though some may require upfront payment in full.
Extended new and used car warranties can help you avoid draining your savings account or relying on credit cards to cover repairs. But without properly vetting companies, you could end up wasting your hard-earned money on an extended warranty that has bad coverage or customer service.
With extended car warranties, you can choose a provider that keeps the process in-house to ensure customers receive a higher standard of service, as the same team that hands the quotes and sales process also handles your claims. Or you can select an extended warranty company that uses third-party administrators to handle claims and contract details.
Our team polled 1,000 consumers who have purchased or thought about purchasing an extended warranty. Of those who had extended warranties, 65 percent were satisfied with the provider whether they had used their coverage or not.
In the sections below, we provide an in-depth look at the best car warranty companies. Along with providing the specific information we used to determine scores, we provide sample quotes and areas where each car warranty company stands out.
With a free year of Endurance Elite Benefits, Endurance offers two free tire repairs or replacements per year, which is uncommon among extended warranty companies. It also offers other benefits like $1,000 of total loss protection and $500 for key fob replacement.
Reputable extended car warranty company that offers six levels of coverage and has excellent customer reviews. It is our choice for Best Coverage and our top overall pick for extended warranty providers.
The ForeverCar warranty quotes our team received for a 2017 Honda CR-V with 45,000 miles all came out to around $50 per month for 36 months. In our experience, getting a quote from the company was fast and easy. All we had to do was answer a few basic questions to see prices for multiple plans.
CarShield has been in business since 2005 and has a 4.0-star rating on Trustpilot based on over 36,000 reviews. The company has the largest market share as far as used cars are concerned. Because of its huge number of reviews and large market presence, CarShield is one of the most popular extended warranty providers.
CARCHEX is one of the most well-known and reputable extended car warranty companies around. Established in 1999, CARCHEX has an A+ rating from the BBB, BBB accreditation, and numerous endorsements from trusted brands like Kelley Blue Book, CARFAX, RepairPal, and Edmunds.com.
On average, CARCHEX extended warranties cost between $177 and $222 per month depending on the plan and payment schedule you choose. Total car warranty costs range from about $3,100 to $4,000 for the quotes we received. You can also pay for your entire plan up front and save a small amount of money.
Drivers who are planning to keep their vehicles for a long time should consider investing in an extended warranty. In fact, the opposite is also true. If you plan to sell your vehicle on the private market after a few years, a transferable service contract could make your car more appealing to potential buyers.
The typical manufacturer offers bumper-to-bumper warranty coverage for 3 years/36,000 miles. While some manufacturer warranties, like the Hyundai warranty, cover you for longer, they still fall short of the more than 150,000 miles the average car owner can expect to put on their vehicle over the course of its lifetime.
Car warranty companies that handle their own protection plans are called direct service providers. Being a direct service provider means handling everything from selling the warranty to approving car warranty claims to paying the repair shop after your car is fixed.
Based on our research, the most reliable car warranty company is Endurance. The third-party warranty company is a direct provider, which means it administers all the contracts it sells. Endurance also provides several plan options for drivers and solid benefits.
We rate CARCHEX as the best used car warranty company on the market. CARCHEX provides coverage for vehicles up to 250,000 miles, which makes it a great option for older cars. The company also offers a variety of plans for used cars.
New Vehicle plans can be purchased anytime within 3 years and 36,000 miles of the vehicle's warranty start date (the date the vehicle was delivered to its original owner). Surcharges may apply after 1 year or 12,000 miles. Certified Pre-Owned plans can be purchased on Chrysler, Dodge, JeepĀ®, Ram, FIATĀ® or Alfa Romeo vehicles with an active, Certified Pre-Owned Limited Warranty and an odometer that reads less than 75,000 miles. Traditional Pre-Owned Vehicle plans can be purchased on vehicles that are no more than 10 model years old and with an odometer that reads less than 150,000 miles, or less than 125,000 miles for vehicles with a 5-year/60,000-mile Powertrain Limited Warranty provided by the manufacturer. Your dealer will complete a Vehicle Inspection to ensure the vehicle is eligible for coverage. Convenience and Maintenance (non-mechanical) plans have specific enrollment rules. Please visit your local dealer for details.
A factory warranty is a promise made by the auto manufacturer to pay for covered repairs and replacement parts during the timeframe specified in the warranty. For new and certified pre-owned vehicles, the price of a car warranty is part of the overall initial cost of the vehicle.
First, warranties simply guarantee vehicle owners protection against high-cost car repairs. For extended warranties or vehicle service contracts, you pay a certain amount of money to the warranty company, which covers the costs of an unexpected mechanical breakdown in the event of a needed covered repair.
The best car warranty companies are ones that have been endorsed by industry leaders and celebrities, like Edmunds.com, Kelley Blue Book, and CARFAX. If no one is willing to endorse or recommend a provider in question, you must wonder why.
The majority of extended warranty providers also do not cover normal wear-and-tear replacements. However, some companies use a depreciation factor when calculating coverage costs. This essentially means that your warranty provider will only pay for replacement costs or repairs if your car is under a certain mileage.
We recommend reaching out to the best car warranty companies for quotes. During the process, you should ask questions regarding different coverage levels and pricing to find the best plan for your vehicle and situation.
One of the best ways to identify reputable extended car warranty companies is to read reviews. For many companies, the BBB and Trustpilot have thousands of reviews. The BBB has a systematic scoring system that provides a letter grade based on factors like business ethics, customer service, and claims processing.
Most extended car warranty companies provide contracts online. Reviewing the contract is helpful because it allows you to delineate what is covered and what the car owner is responsible for. Along with information about your coverage, sample contracts also include:
On the opposite side of the spectrum, there are some reputable extended car warranty companies that offer solid protection. We recently evaluated the most popular providers based on reputation, coverage, customer service, and added benefits. You can learn more about some of our top choices below.
Endurance is one of the largest extended warranty companies and our pick for best provider. The company is ranked on the 2019 Inc. 5000 list of most successful US companies, is certified by the Vehicle Protection Association, and has an A+ from credit rating agency AM Best. The direct provider offers a wide variety of plans.
CARCHEX is one of the best extended warranty providers and has been in the industry for over 20 years. CARCHEX has a score of a perfect 10 on ThoroughlyReviewed and an A+ Grade from the Better Business Bureau (BBB).
Our expert review team takes satisfaction in providing accurate and unbiased information. We identified the following rating categories based on consumer survey data and conducted extensive research to formulate rankings of the best extended auto warranty providers.
Whether you have a brand-new vehicle or a used car, auto repairs are always expensive. Purchasing extended warranty coverage can be a good way to save money on repair costs, but many plans may fall outside your budget.
Third-party warranty companies can offer a bit more flexibility. In most cases, you can buy extended coverage at any point during the life of your car with longer mileage limits. While most factory warranties have mileage limits up to 60,000, many independent service contract companies have plans for vehicles over 150,000 miles.
Most extended warranty companies only offer one exclusionary warranty, which is usually the highest level of coverage available. Bumper-to-bumper warranties are most similar to factory warranties, and because they cover the largest number of components, they tend to be the most expensive coverage option. 781b155fdc