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What is the best but yet cheap car extended warranty on the market, and is it a good thing to have? thanks

Answers from the Automotive Experts

Cherie Watters, President of Sales and Marketing at AskPatty.com Don't look for cheapest warranty. Look for what items are covered. Make sure the company has been in business and pays their claims. I beleive extended warranties are an excellent product if you have the right warranty for your car. Thank you

Jenny Trostel, Partner at Anderson of Hunt Valley Best and cheap do not go together when buying a warranty. Go to the dealer that services your car and ask about their warranty program. Ask the service advisor if they have any problems with the warranties that the dealer sells. Ask the service advisor which is the best coverage for your car. Many companies will finance the warranty, so you can make monthly payments. Review the documents carefully so that you know what is covered. Ask a lot of questions. Good Luck.

Patricia Algier , Owner at Valley Dealer Exchange Inc Extended Warranties are very good if they are a INCLUSIVE warranty wich basically covers everything on the car that was factory equipped. If it is a STATED COVERAGE warranty it will only cover items listed in the warranty which means a part may go out that is covered but if another part is connected to it not covered then that labor will not be included. You also want to make sure it covers wear and tear. Check with the dealer that sold you the car because I do not belive you can purchase them without going through a dealer Patti www.valleydealer.com

Shelly LoCascio, Dealer Principal  at Irwin Lincoln Mercury Mazda Tom, I always suggest that people buy the manufacturers warranty. It is not always the cheapest however they generally give the customer the best protection with the least hassle. You get your car repaired at any dealership (of that manufacturer)cross country. Shelly

Jessie L Thatcher, F&I and Sales Specialist at Reynolds and Reynolds Company  (Retired) There are all kinds of Extended Service Contracts available today. But...Buyer Beware! You want to be certain that the one your chose is actually accepted all over and it is imperative you read the fine print. Over the years I have found that opting for the Manufacturer (in your case GM*s) extended policy is the best bet. I can be confident that it is accepted at every GM dealer everywhere and it is very comprehensive. The cost of your policy will be based on years/mileage and model of your vehicle. If you or a family member is a GM employee or retiree you get a special fixed price, but remember to negotiate with your finance manager when you purchase the policy. Also it doesn*t get any less expensive to wait until your vehicles factory warranty is about to expire. Buy as early as you can for the best deal. If you plan to keep your vehicle long after the initial warranty expires an EXP plan can help you control expenses, if you trade every 3 to 4 years and still have factory warranty than it is not really necessary.

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