Buying a used car can be an excellent way to get a reliable car for significantly less than what one would pay for a brand new vehicle. On the other hand, used car buying in the Orlando area comes with its inherent risks, such as that of buying a car that ends up needing hundreds of dollars in repairs shortly after being driven off the lot. Fortunately, a used car warranty can help give buyers peace of mind—but there are some tips to keep in mind when choosing a warranty.
Be Aware of the Deductible
First and foremost, buyers should know what the deductible is on their warranty and how it is charged. Is it only charged once per year, or will it be charged on each necessary repair? The deductible is the amount the policy holder will need to pay out-of-pocket before the warranty coverage will kick in, so this is very important to find out about before deciding on a policy.
Don’t Fall for Sales Pitches
A lot of times, car warranty providers have pushy sales people who get paid on commission; as a result, they will put buyers under a lot of pressure to make a purchase right then and there. For example, they may tell the buyer that the “quote” they’ve been given is only good for that day. Buyers should ignore this kind of pressure and buy from a provider that will allow them the time they need to make their decisions.
Find a Company That Pays Direct
Some used car warranties will pay the repair shop directly, whereas others will require the policy holder to pay for repairs and be reimbursed at a late date. To avoid having to spend one’s own money up-front, it’s best to look for a warranty that will pay the repair shop directly. This helps to give used car owners greater peace of mind.
Check for a Refund Policy
Finally, buyers of used car warranties should make sure that they’re entitled to a refund for any unused portion of their policy. For example, if one buys a five-year warranty but sells the car three years down the road, they should be reimbursed for the two unused years of the coverage. Of course, it is also possible to transfer the warranty to the new owner of the car, if he or she is interested.
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