Repair Costs Minimal With an Extended Car Warranty

As the owner of a small business with a fleet of vehicles, I have personally purchased over 20 vehicles in the last two years. That being said, my company always purchases an extended warranty for the vehicles we purchase.

We do this regardless of whether the vehicle is new or used and we understand the importance of extended car warranties. As fate would have it, when the power windows went out on one vehicle, which would have cost over $2,500 to repair, we were in a cash flow crunch. Had it not been for the extended warranty covering the entire expense, we would have had to put off the repair for several weeks.

The average cost of an extended warranty is around $1,500. This varies greatly from company to company and is based on the number of years of coverage and the type of coverage selected. One of the most important features to warranty is the electrical system.

This covers everything from the power locks and windows to the sensors and brains of the engine. These components are arguably the most expensive based not only on the individual parts but also on the labor charged to replace them.

Fortunately for me, our company has only had to use the warranty for a few repairs. That being said the total value of the repairs covered more the compensated for the cost of all the extended warranties purchased. Furthermore, it’s nice to know we’re covered should something unforeseen happen.