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 total necessity, protecting motorists against 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 cover 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 in the cover 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 cover levels designed to protect your vehicle, provide flexibility and other benefits such as breakdown cover. The consumer can shop around to get the best price, cover and flexibility combination 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! Some car warranties don’t cover for consequential damage – damage caused as a result of the initial failure. Consequential damage warranty exclusions usually state that only the failed part is covered under the terms 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. Be realistic – if you only pay £50 for your warranty, don’t expect everything to be covered.
Why choose an extended warranty from Warrantywise?
An extended warranty from Warrantywise is broadly more comprehensive and covers a lot of different components*. This includes the cost of repairing engines and transmission, fuel systems, gearboxes and much more.
Warrantywise offers five levels of cover when it comes to extended warranties. The warranties are also flexible, which means that car owners can tailor their cover to add on additional parts that might not necessarily be included. For more information, you can visit our ‘Warranties’ section of the website.
By purchasing an extended warranty from Warrantywise, you will automatically benefit from roadside assistance cover, temporary hire cars, onward travel and associated expenses which will provide peace of mind and minimise costs from unexpected breakdowns. These added benefits will also assist you through the repair process.
At Warrantywise, our cover has been developed in conjunction with Quentin Wilson, a highly respected motoring journalist, consumer champion and previous presenter of Top Gear. Together, we have created one of the most comprehensive warranties you can buy in the UK. Quentin Wilson also works as the final arbiter across all claims, ensuring exceptionally high standards are met across the board.
*Subject to the level of cover selected
Warrantywise – for specialist cover 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 cover levels, and prices. Also always check the small print!
If you’re considering an extended car warranty from Warrantywise, you will be protected from unexpected repair bills which could save you money in the long run. Get a free quote from Warrantywise today.