Are Extended Warranties Worth It?

Whether your original manufacturer warranty is reaching its end or you’re a Chicago driver shopping for a used car and you’d like a little additional coverage, you may be wondering, “Should I buy an extended warranty?”. Read on to get a good sense of whether or not they’re right for you, and then reach out to the Sunrise Chevrolet service department to take the next step if it sounds right. If you have further questions about car care, be sure to check out our service tips for informative reads about how to winterize your car and more!

What is an Extended Warranty?

The first thing to know when asking yourself, “Should I buy an extended warranty?”, is what an extended warranty is. An extended warranty is what it sounds like. When your original manufacturer warranty is up, you’ll have the option to extend the length of the coverage it provides. If your original ended long ago and Carol Stream drivers would like to reinstate some warranty coverage, that’s also an option.

These extensions vary in terms of coverage and give you the flexibility to customize too by adding or subtracting roadside assistance and more. You may still be wondering, “Is an extended warranty worth it?”. Let’s take a closer look.

Extended Warranties for New & Used Vehicles

Extended warranties can work differently for used and new vehicles, which can complicate the answer to the question, “Are extended warranties worth it?”. Here are some tips for Addison drivers to consider for both:

New Vehicles

If you’re thinking of adding on an extended warranty for a new vehicle, you should consider just how long you intend to drive that vehicle before you trade it in. If you’re thinking about swapping it out in less than 10 years, an extended warranty is probably not right for you since modern vehicles are far more reliable than they once were. If you plan on owning it for more than 10 years, however, we recommend the extra coverage.

Used Vehicles 

When considering whether or not to get an extended warranty for a used vehicle, you should research the reliability of scores of the vehicle you purchased (be year specific). Also, consider the vehicle’s status currently and its current value. Will the cost of major repairs or an extended warranty outweigh the cost of getting a new vehicle if you run into trouble? If so, an extension may not be right. If you plan on driving this used vehicle for years to come, however, an extended warranty is likely to save you money in the long run.

Discuss All of Your Financing Options at Sunrise Chevrolet

Now that you have an answer to the question, “Are extended warranties worth it?” and you likely have your own answer to the question, “Should I buy an extended warranty?”, reach out to Sunrise Chevrolet if you have lingering questions or you’re ready to take the next step. Just give us a call at 630-984-7455. We look forward to helping you determine what options are best for you.