Recently I purchased a used Toyota Prius with only 166,000 for driving Uber/Lyft. I drove the car 3,000 miles the engine already needs a rebuild.
I didn’t get an extended warranty right away. I thought I would drive for a month or so and make some money before I purchased a warranty. I drove 3 days and the check engine light came on. The result is that the repairs will cost me $3,000.
Well THAT wasn’t in the budget!
What is an extended auto warranty? An extended auto warranty is like an insurance policy on your vehicle. It provides some peace of mind against expensive, unforeseen repairs. The warranty will cover your car for a certain amount of time and miles. Plans come with a $0 deductible up to $200 or more. Read the fine print on the proposal before deciding.
Extended warranty for used vehicles;
- They exist and they are affordable, here are a few:
- Autopom!
- Autowarranties.com
- Endurance
- Complete Car Warranty
- AutoWarrantyOfAmerica.com
- Don’t Wait!! It could be too late. If you have mechanical issues you can’t purchase a warranty and then use the warranty right away.
- An example of the cost of a car warranty
- $1248 for a 24 month/24,000 mile plan
- Purchase in full or
- $312 down and $93/month for 10 months
- After purchase there are timelines before they go into effect
- After 30 days
- After 1000 miles
I could have saved $1500 and peace of mind for the next 24,000 miles…
MoneyHugger 