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May 2, 2024 · The average extended car warranty costs about $2,845 in total, though costs vary depending on the vehicle and other factors. With some companies offering fixed-term plans and others providing...
- Your Vehicle’S Make and Model
- Your Vehicle’S Age and Mileage
- Your Vehicle’S Reliability
- Current Labor Rates
- Your Choice of Warranty Provider
Some vehicles are more expensive to keep running than others, which means that warranty companies tend to charge more for those vehicles. “Make and model will absolutely be No. 1,” a vehicle protection specialist with Endurance told us. As a loose rule of thumb, expect to spend more for a warranty if you drive a more expensive car. “The more expens...
The age and mileage of your car will heavily factor into the cost of warranty protection, too. In the vast majority of cases, a 2018 model with 50,000 miles on it will cost more to protect than a 2023 model with 50 miles on it. This is simply because the newer model is expected to go much longer without needing its first major repair. The amount yo...
The expected reliability of your vehicle — namely, the anticipated cost and frequency of repairs — can also play a role in what you’ll pay for an extended auto warranty. According to J.D. Power, the most reliable brands in 2023 were Lexus, Genesis and Kia, while the least reliable were Audi, Lincoln and Land Rover. In our extended warranty breakdow...
According to the vehicle protection specialist we spoke with at Endurance, dealership labor rates are a lesser-known factor driving the cost of extended auto warranties. This makes sense from the warranty provider’s perspective. Extended auto warranties typically cover the cost of both parts and labor, so when the cost of labor rises, they raise th...
It’s incredibly rare for two warranty providers to have the same price for similar coverage plans. The handful of quotes we collected for our writeup on Genesis extended warranties do a good job of illustrating just how unpredictable extended auto warranty quotes can be between providers.
Jul 20, 2023 · The cost of a warranty depends on several factors, including the make and model of the vehicle and the company you buy the policy from. When you know how much money the extended car...
- Finance & Insurance Editor
Jan 18, 2024 · Last Updated 01/18/2024. Motor1 Reviews Team Take: The average cost for an extended car warranty is $3,026 across all coverage levels. Our research team found that on average, monthly payments...
- Many car owners find an extended warranty is worth it for the added peace of mind and potential to save hundreds or even thousands of dollars on ex...
- Extended car warranties cost about $2,893 for used vehicles. Your extended car warranty cost will depend on your vehicle’s age and mileage, as well...
- In our review of the nation’s top extended car warranty companies, Endurance was recognized for having the Best Coverage overall. We recommend Endu...
- An extended car warranty covers specific mechanical breakdowns outlined in a contract. Coverage options vary from comprehensive plans that match a...
- With profit margins of up to $1,000 from each sale, extended car warranties are highly profitable. Extended warranty businesses tend to be more pro...
- To make a profit, warranty companies must make more from warranty payments than they pay in operating costs, which includes the costs of sales and...
- Having the peace of mind that an extended warranty brings is a huge benefit of buying an extended warranty, but it can be a double-edged sword. Man...
Apr 16, 2024 · Get Quote. The two differ for two main reasons. First, the manufacturer may not be involved, though some brands do offer extended warranties. Second, the broken item or needed repair may be due to wear and tear, not any kind of defect, or unexpected failure.
Nov 7, 2022 · The typical auto warranty coverage is 3 years/36,000 miles.
