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The Pitfalls of Not Having a Car Warranty - Car Loans Canada
25 September

The Pitfalls of Not Having a Car Warranty - Car Loans Canada

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Car Loans Canada

Is not having a car warranty on your used car an option? In short, the answer is no. There are simply too many things that can go wrong on a daily basis to forgo having an extended warranty on your used car. A used car extended warranty stands as a very prudent and worthwhile investment for many reasons. At the top of the list, of course, is that you just never know what is around the corner, sometimes literally! As a result, having a used car warranty is great for the peace of mind that it brings with it. Yet, sometimes the drivers of used cars ultimately decide to skip having a warranty altogether.

Many drivers feel that if they've owned a car for one or two years or more and have not had any major problems, that they are "out of the woods." However, this just isn't the case, as the longer you own a used car, the greater the statistical chances that something might go wrong. Let's look at some key points to keep in mind when wisely opting for a used car extended warranty.

Pitfall Number One: Unexpected Repairs

No one likes a costly surprise. Without an extended warranty on your used car, you just never know when a costly repair could occur.

Pitfall Number Two: Not Being Able to Afford a Repair

If you depend on your used car for work or other vital needs, then you absolutely must have your car. An unexpected repair bill that you can't afford potentially will leave you in a difficult position!

Pitfall Number Three: You Could Have to Scrap Your Car Although

In some cases, if you don't have an extended warranty, you could be left with a car which you can't repair or which it doesn't make financial sense to repair. In such a situation, your used car is headed to the junkyard and you are left looking for another car. An extended used car warranty, of course, stands as a smart way to safeguard against this issue.

Car Warranties are Great, But Not Unlimited in Nature

It is also important that you realize that a used car warranty isn't unlimited. You can't treat your car in any way that you wish and expect the insurer issuing your car warranty to simply state, "Oh that's okay, you lost control of your car drag racing and it sped off a cliff, oh well, we've got you covered! Happy drag racing!" That isn't too likely to occur.

Warranties cover problems with the car and not intentional damage. Thus, if it can be shown that you have somehow tampered with or failed to use proper and logic with your car, you could end up stuck with a bill even if you have a car warranty. Many people are quite shocked to learn that extended car warranties have any limits at all; however, it is only logical. After all, does it make sense that you could set your car on fire and expect an insurance company to cough up the dough?

While used car warranties do have these certain limitations, this in no way negates their impressive worth. The peace of mind that a used car extended warranty provide makes it a smart investment and one that you should consider no matter what kind of car you own.

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