Are Extended Warranties Worth It?

Whether you’re shopping for a new Mazda CX-5 or you’re looking for a reliable used Mazda3, you may have the opportunity to purchase an extended warranty. But are extended warranties worth it? Depending on your lifestyle and budget, extended warranties are an excellent option for those who are planning on keeping their vehicle for many years, and want the extra coverage just in case. With us at Mazda of Columbia, you can learn more about extended warranties, how they work, and what they cover. Contact our finance experts with any questions.

What is an Extended Warranty?

An extended warranty is an additional plan you can opt into when you are financing your new or used vehicle that provides additional maintenance coverage once your factory warranty has expired. While each plan varies, some may offer the option to add on extras such as towing or roadside assistance. Extended warranties act as a safety net in the event your major powertrain warranty has ended, and a major repair comes up. This type of coverage will help you save more in the long run.

Extended Warranties for New & Used Vehicles

Extended warranties are applicable to both new and used vehicles, but they work differently depending on the condition of the car. Whether you’re looking to tack on an extended warranty on a new or used car, here are some tips to consider for both:

New Vehicles

When it comes to new vehicles and extended warranties, you’ll want to consider the length of time you intend to keep your current vehicle. If you are thinking about swapping vehicles in under 10 years, then an extended warranty may not be right for you, since many modern vehicles are highly reliable. Additionally, be sure to check what the warranty coverage is for the new vehicle you plan on financing.

Used Vehicles

With used vehicles, it all comes down to the reliability of the vehicle. As you should with any used vehicle, be sure to have it inspected to have possible issues eliminated. From there, you can choose whether you want to opt for an extended warranty. Similar to new vehicles, also consider how long you plan on having that used vehicle for before you decide.

Do I Need an Extended Warranty?

The main question drivers ask us is: “Should I buy extended warranties?” Again, the decision comes down to many factors, like your lifestyle and financial situation. Opting for an extended warranty is a good call when you have a used model nearing the end of its powertrain warranty, as it’ll help save money for those who are worried about breaking their budgets should–unfortunately–a major issue comes up, or a repair is needed.

Discuss All of Your Financing Options at Mazda of Columbia

If you’d like to learn more about extended warranties, apply for financing online, or if you’d like to calculate your monthly car payments using our payment calculator, get in touch with Mazda of Columbia. Need help with other financial inquiries? Contact our finance center to speak with our team about extended warranties, leasing options, new vehicle specials, and more! We’d also be glad to help you learn the difference between buying and leasing.

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