An extended warranty, which is also known as a maintenance agreement or vehicle service contract offers plenty of benefits to car owners. With an extended warranty, you don’t have to worry about parts, repair, and maintenance of your vehicle. An extended warranty is a repair and maintenance coverage that is offered by car dealers after the expiry of the manufacturer’s warranty. This vehicle service contract covers most vehicle breakdowns and reduces your repair and parts cost. However, if you are looking to buy an extended warranty for your vehicle, make sure to ask the following questions before getting an extended warranty on electronics.

Who is responsible for the extended warranty?

There are plenty of car dealers who offer vehicle service contracts from manufacturing companies. If you are looking to buy an extended warranty for your vehicle, make sure that manufacturing companies are backing this warranty, not car dealers. If you are sure that manufacturers are backing third-party insurance, it is reliable to buy an extended warranty from a dealership.

Have you considered the price?

When it comes to buying an extended warranty for the vehicle, price is a major factor that should consider. Do your research before getting an extended warranty and consider a price quote. You can talk to various dealers or manufacturers about warranty prices. This way, you can narrow down your search and find a suitable price for a vehicle service contract.

What is covered under an extended warranty?

One thing which is essential to know about an extended warranty is it doesn’t cover everything. Mostly, the vehicle parts that get wear and tear gradually are not covered under an extended warranty.  Therefore, ask your dealers what things they cover with an extended warranty. The price of an extended warranty varies on the vehicle parts that come under the warranty.

What is the history of repair and maintenance costs?

Before buying an extended warranty, make sure to know about other car problems that have been covered by an extended warranty in the past. If you are looking to buy a warranty for road hazards, identify how many times you had to face flat tire issues due to road hazards. If you have faced flat tire problems in a short time, then choosing an extended warranty is a wise decision.

See here for Lexus extended warranty plans.