Commonly called an “extended auto warranty,” it’s a prepaid service contract or vehicle service plan. A service plan is separate from the original manufacturer’s warranty, which is included in the price of a new car.
Service plans pay for specified repairs over a defined number of years or miles, after the factory warranty expires. Vehicle manufacturers, auto dealers, or independent third-party providers offer the plans. If you’re going to be driving your car for a long time it might be something you want to consider.
When shopping for an extended warranty take your time and do your research. It’s an important decision because the warranty is only as good as the company that stands behind it. Don’t feel pressured to buy one on the spot and make sure you understand the fine print.
According to a nationwide Angie’s List poll:
Angie’s List Tips: Extended auto warranties
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