If you’re looking to buy a car warranty or extended car warranty, you really need to do your homework. Before you even think about signing anything, you need to shop around, check what types of deals are available and compare the features which each individual company offers.
It is often a much better idea to find an independent car warranty provider than to purchase through a car dealership, as the salesman in the dealership will often be adding a very large profit margin onto the real world cost.
Dealership provided warranties can also be lacking in features, but people can easily be blinded by the convenience and sales talk given by the salesperson – don’t fall into the trap, tell them you’ll consider it and get back to them, then shop around!
So, you’ve avoided the first mistake of taking what the dealer offers you without doing any homework, but what’s next?
Well – much like car insurance, you can search online and find a huge amount of companies who’ll offer what you want, but like everything, not all companies will be equal.
The main factor you’re going to want to look at is of course price, if you are money concious, but even if you have no money worries, and can afford a more expensive package, that isn’t always going to be the best way to go either, much like cheapest isn’t always the worst, most expensive isn’t always the best.
Firstly, compile a list of companies who offer a warranty service within your price range. Once you have this, list and compare all of the features they offer – if you’re not sure on something listed on their website, don’t be afraid to ring them, you can often get a simple answer over the phone, and you can also gauge how well they know their product.
Once you have a shortlist of companies who offer exactly what you need at a price you can afford, do some research on each of the companies, simply typing their name follow by the word “reviews” can be an easy way to find out how other people have found their services.
If a company has largely good reviews, keep it on your list, one with a majority of poor reviews should be struck off, you’re looking for a service which will save you money in the long run, one with poor customer reviews is unlikely to be the best choice, and the hassle you may have should you need to claim will not be worth it.
Once you’ve got your shortlist, ring them! Start with the most expensive, tell them you are looking at a few companies and company x is cheaper, do they have any form of price match or discount available, even if they beat the cheapest price, thank them and say you will get back to them.
Repeat this process with the whole list until you have the cheapest price available, and, as long as everything else checks out – reviews, features etc, then you’ve found the best company for you.
It may take you a couple of hours but it could save you hundreds!