How does extended warranty for used cars affect the resale value of a car

How does extended warranty for used cars affect the resale value of a car

When was the last time you visited a retail store? Today, yesterday or may be long time ago. Be whatever the time or season, you must have encountered a salesman trying to market you a service plan. It is the job of retailers to try selling extended warranties to durable-goods buyers. Having extended warranty for used cars is not a mandate but acts as a shield for used car owners to protect their car parts. You must have felt tempted, especially if the car warranty covered expensive repairs and is better than the original car warranty. However, even in such a case you should prefer to double check and ensure that whatever invested is done prudently. It only makes sense to by an extended warranty for used cars only after gauging the pros and cons right. Extended warranty, the name rightly suggests, increases the overall warranty of your used car, timelines and existing covers. Extended warranty for used cars is more of a need than a desire or luxury, in today’s era.

extended warranty for used cars

 

Do you really need an extended warranty for used cars?

The answer to this question is YES. Though, you don’t need an extended warranty for used cars all the time but it is a wise and nice practice. However, if it better to take some caution before buying an extended warranty.

Know the brand – Not all brands or companies offer good service. Therefore, enquire about the company before buying an extended warranty from them.

Duplication check – Ensure that you are not buying an extended warranty for parts or services that is already covered in your insurance of car warranty.

Extensive coverage – Extended warranty is helpful only if they cover pricey repairs. Extended warranty for small wear and tear is useless.

Service evaluation – Consider evaluating the services of the company if or not they have a company-authorized technician, home pick up facility, a helpline number and likewise.

Hidden costs – Check for hidden costs like travelling or home pickup charges. They might seem to be small but once they accumulate they become a pain in the long run.

Exclusions – Read the terms and conditions apropos. Bear in mind your usage of the used car. If you travel frequently, then going for a extended warranty makes absolute sense.

Customer feedback – Before investing money on buying an extended warranty for your used car, it’s recommended to invest some time going through customer feedback of the present customers. This will give you an idea about the service of the concerned company, you are thinking of buying an extended warranty from.

Don’t confuse Insurance with Extended warranty for Used Cars

extended warranty for used cars

If a car radiator is being insured or has an extended warranty, insurance would play negligible role here. However, if due to an accident your car’s radiator gets damaged then, the insurance would cover this up. Extended warranty would not be of any help in this case. However, buying an extended car warranty brings along prolonged peace of mind. The key benefit of having an extended warranty for used cars is that it gives you good protection against major failure of expensive parts such as the gear of a car.

How does extended warranty for used cars affect its resale value

Selling a used car is not an easy task. It involves an array of paperwork and hassles that you need to undertake. The biggest fight is finalizing the price at which you would like to sell your car. You would have to read the buyers mind in that case. Anybody interested to trade-in his or her car, should keep its extended warranty in mind. Extended warranty for used cars is not bait but buyers always prefer getting something for free. Extended warranty would be one of those ‘free’ services that would help you lure buyers for your used car.

We are aware of the fact that cars made in the present era are technologically advanced. They are expected to last for more than 5 years. Some of the cars do last in perfect condition for a decade or even more. However, if you are unlucky or unable to take proper care of your vehicle it is bound to break down unexpectedly, anytime.

  • Having an extended warranty positions you as a credible consumer. It implies that you have invested efforts and money to take care of your car that you are planning to sell at the present.
  • Having your car under warranty, shows your awareness in terms of the adverse circumstances that a car owner or rider might face.

Thus, when you set out to sell your car, your prospect buyer will get a good impression and the chances of him buying the car will upsurge.

Original warranties provided by carmakers vary with regards to factors like mileage and time limits. An extended warranty gives buyers the luxury to get the car repairs done as and when required. Buyers tend to feel empowered and the chances of them buying your car increases manifold.

Selling used cars at CARS24

extened warranty for used cars

Planning to sell your used car? If there is any problem that you are facing, simply contact CARS24. CARS24 is on a mission to make the life of used car sellers in India better. CARS24 is on a mission to streamline the used car selling market in India. Till date, CARS24 has accomplished more than 7 lakh transactions and bought 70 thousand plus cars.

To sell your used car, any model and any make, call us at: 1800 258 56546 or visit CARS24

To read more about used cars, you may like to read: CARS24 BLOG

 

 

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