Chevy Corvette Parts

It’s a question we receive a lot here at the Suburban Chevrolet finance department: Are extended warranties worth it? In most cases, the answer is a resounding yes, as an extended warranty can help protect your vehicle and minimize your out-of-pocket costs for maintenance and repairs. This is especially important for Bloomington and Minnetonka drivers who plan on keeping their vehicles for the long term. Here’s what you need to know about extended warranties and what they cover.

What is an Extended Warranty?

So, are extended warranties worth it? Let’s start by explaining exactly what they are. When financing a new or used vehicle, you will be offered an optional plan that covers certain service costs after the expiration of the factory warranty. Then, if your car needs covered maintenance or repairs during the extended warranty period, the plan helps pay those costs and keeps your out-of-pocket expenses down.

Extended warranty coverage varies by policy and provider, but, in general, you can expect your plan to extend the manufacturer’s warranty coverage beyond the original period. Your plan might also include additional coverage options like towing and roadside assistance.

Should I Buy Extended Warranties?

Now that you understand the value of extended warranties, let’s take a look at who can benefit the most from this added level of protection. If you’re purchasing a new vehicle, you may not need an extended warranty, as the original manufacturer’s warranty will be in place and newer vehicles are generally more reliable. However, if you plan on keeping your new vehicle for more than 10 years, or at least beyond the original warranty period, an extended warranty is a worthy investment.

If you’re purchasing a used vehicle, an extended warranty is a smart idea, especially if the original warranty period has ended and you plan on keeping the vehicle for the long term.

Explore Extended Warranty Options at Suburban Chevrolet

Are extended warranties worth it? In most situations, you bet they are! They ensure prompt vehicle service and repairs without stretching your budget thin. If you have any questions about the extended warranties we offer, don’t hesitate to contact us. We know you’ll appreciate the comfort and peace of mind this type of additional coverage provides!