Buying a Used Car? Nine Warranty-Buying Tips
In a recent article in Car and Driver (April 2013), the author Steven Cole Smith offered great advice on “Buying Peace Of Mind For A Used Car.” Smith stated that the safest way to purchase that peace of mind is buying a Certified Pre-Owned vehicle with a warranty provided by the manufacturer. But not all cars can be certifed. So if you’re purchasing a used vehicle that is not certified, here are some tips offered in that article.
1. Never buy a warranty based strictly on a phone sales pitch.
2. Always have a contract in hand for review before you make a decision.
3. Don’t be taken in by “today only” price pitches.
4. Every contract has an “insurer” or “underwriter.” Find out who that is and check that company at ambest.com, the website for A.M. Best, a century-old insurance-rating service.
5. Make sure you know your deductible, and that it is only charged once per repair visit.
6. Never buy a warranty based on the performance of a product – a bottle of magic liquid, for example. That tactic is a way around certain consumer-protection laws.
7. Buy from a company that pays directly for repairs, not one that says it will reimburse you.
8. Extended warranties are often transferable. When you purchase a car with an extended warranty, paying a transfer fee (which usually varies by state) will transfer the remaining coverage.
9. Get the refund policy in writing. If you sell the car and don’t transfer the warranty to somebody else, you should be entitled to a refund for the unused portion of the warranty.
Apple Chevrolet offers Extended Service Contracts through a company that has been in business a long time, EasyCare. In business since 1984, EasyCare has been repeatedly declared a MotorTrend Recommended Best Buy year after year. The company sells its contracts outright or through more than 2000 dealers. Although it recommends that you use the selling dealer for service, any licensed repair facility is acceptable.
For more information about an EasyCare Extended Service Contract, call Ken Wagner or Chet Palumbo at Apple Chevrolet’s Finance Department at 708-429-3000.
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