The availability of new cars in 2022 was significantly affected by the semi-conductor chip shortage, which is expected to last until at least the end of 2023. This, alongside the ongoing cost-of-living crisis and lack of supply of used cars in the market means that people are now keeping their vehicles for longer than ever before.
So, with more people keeping hold of their cars and vehicles having to work harder for longer, it’s also meant that warranties have become a necessity, unforeseen mechanical and electrical issues. But what happens when your manufacturer’s warranty comes to an end? What are your options?
Well, you’ll have the choice to extend your current warranty or look for a new provider entirely.
In this helpful article, we will outline the main differences between a manufacturer’s warranty and an extended warranty, so you are well-equipped when your warranty expires.
Read on for more information that will help you with everything you need to know…
Manufacturer’s warranty versus extended warranty – what’s the difference?
People often talk about varying types of warranty but it’s important to recognise the core differences, so you can spot any gaps which could leave you exposed.
Manufacturer’s warranty
The manufacturer’s warranty is a guarantee that the vehicle’s manufacturer will repair or replace a defective or damaged product in a fixed period of time.
For customers buying a new car, this will start from the minute you purchase the car. But, for those purchasing a used vehicle, it’s important to check when your manufacturer’s warranty expires, as this can vary from car to car.
You should also be aware of the ways your warranty can be invalidated, as factors such as mileage, regular servicing or the age of the vehicle can significantly impact the cover you have in place.
If you’re looking for more information on what your warranty specifically covers, includes or excludes, check your warranty documents which will clearly detail everything you need to know.
Third Party Extended Warranty
You don’t have to choose the manufacturer’s extended warranty. Specialist warranty providers can offer a range of warranties designed for your vehicle, provide flexibility and other benefits such as breakdown cover. The consumer can shop around to get the best price warranty for their vehicle.
What should you look for in a warranty?
1. What is and isn’t covered?
It’s always important to read the terms and conditions! Is consequential damage referred to – damage caused as a result of the initial failure referred to in the warranty. The warranty may state that only the failed part will be paid for and conditions and not any damage its demise may cause to other mechanical or electrical components. This can lead to big costs.
2. Where can I take my car to be fixed?
Check that you have flexibility in your choice of garage. Warranties may have limits on labour rates and you don’t want to be hit with additional unexpected bills.
Why choose an extended warranty from Warrantywise?
An extended warranty from Warrantywise is broadly more extensive in the range of components* we may agree to repair*. This may include the cost of repairing engines and transmission, fuel systems, gearboxes and much more.
Warrantywise offers five levels of plan when it comes to extended warranties. The warranties are also flexible, which means that car owners can tailor their warranty to add on additional parts. For more information, you can visit our ‘Warranties’ section of the website.
At Warrantywise, our cover was developed in conjunction with Quentin Wilson, a highly respected motoring journalist, consumer champion and previous presenter of Top Gear. Together, we created one of the most comprehensive warranties you can buy in the UK. Edd China is now the final arbiter across all repair requests, ensuring exceptionally high standards are met across the board.
*Subject to the level of plan selected
Warrantywise – for specialist warranties you can be confident in
It’s always a good idea to keep your options open when it comes to selecting a warranty; remember to look around at the terms, and prices. Also always check the small print!
Thinking about getting an extended car warranty? Get a quote from Warrantywise today.