Extended Warranty for Your Honda VehicleSep 6th, 2019
Your Honda vehicle lives life with you. Through the worst weather to long road trips, Honda’s warranty has you covered in every day-to-day adventure. If you have purchased a new or used Honda vehicle recently, you will remember that you were offered options to add to or extend the warranty coverage available. There are several advantages to purchasing an extended warranty at the time of buying your vehicle, yet it can also be a decision that some customers will wait to make. It is advantageous to explore the options and benefits of buying an extended warranty with the initial purchase of your vehicle, as well as learning about the options of additional coverage after the time of purchase.
Buying Extended Warranty at the Time of Purchase
Reliability is the top customer interest when purchasing a vehicle. According to Consumer Reports, 95% of new and used-car shoppers rank it high when choosing a car, so it makes sense that purchasing an extended warranty with your vehicle is top of mind.
Purchasing an extended warranty offers peace of mind both financially and for your safety. At the time of your vehicles’ purchase, the extended warranty can be financed with your vehicle so that the cost is simply part of your monthly payments. A common misconception of extended warranties is that it accommodates the car manufacturers warranty and that customers end up wasting their money. This is not the case – you can augment the initial comprehensive warranty coverage that comes with your vehicle. Covering non-wearable parts and lasting for three years or 60,000 km, this Honda warranty can be extended to five years or more in most cases.
Many customers will choose to wait out their vehicle manufacturers warranty to purchase coverage, but there is a slight cost reduction when buying an extended warranty at the time of purchase. For most coverage options, purchasing an extended warranty with your vehicle is 20-25% less expensive. Additionally, waiting more than 2 years after the time of your vehicle’s purchase may require your vehicle to be inspected with possible service records provided. This is not a problem when servicing at Honda West. In the case of used vehicles, Honda wants you to feel protected as soon as you drive your vehicle away. Just because it is used, Honda does not exclude you from adding coverage with your purchase.
There are now more lines of code in a single vehicle than in the first rocket on the moon. Vehicles are becoming increasingly technologically advanced and you want to be able to cover what is not in standard warranty. Whether you plan on keeping your Honda vehicle for longer than the warranty period or want coverage on parts that wear out, purchasing an extended warranty with your vehicle is an option you may want to consider to cover the cost of potentially sudden mechanical repairs and ease the stress of owning a car for many years.
Buying Extended Warranty after Vehicle Purchase
Many customers will not see the need to purchase an extended warranty with their vehicle, opting to wait a few months after owning their vehicle. Although the benefits of doing so are different, there are still advantages of having extended coverage.
Having to suddenly repair a part in your vehicle is never fun, especially if you’ll be driving it long past its standard warranty. It’s stressful to find another ride while your vehicle is being fixed, but it can be even more stressful financially. Paired with hard winter months and perhaps a family to drive around, purchasing an extended warranty for your vehicle after it was bought can be a crisis averted. Once your vehicle is purchased, you have the benefit of time. The opportunity is opened to get to know your vehicle and if you will be keeping it for an extended period of time. Within 90 days of your vehicle purchase, you can receive the same extended warranty pricing as if you bought the warranty with the vehicle. The investment that it is, sometimes customers need some time with their vehicle to decide on an extended warranty. With time you can choose the coverage that you feel best suits your vehicle once you have become familiar with it and your driving habits.
Not having purchased an extended warranty with the vehicle brings its own opportunities, you will know exactly what kind of coverage you want to shop around for at the dealership. Make sure you are aware of when your original factory warranty expires. Monthly payments may still be available for the warranty plan on its own.
If you are curious about your options, pricing and the warranties available for your vehicle or one you plan to buy, please reach out to Monique Mercado on our Financial Services team for more information at (403) 249-9100, extension 360.