Thursday, Oct. 25, 2012
AUGUSTA, Ga. -- Thinking about buying a new car? You may also want to consider getting an extended warranty.
In an Angie's List poll, about 50 percent of car buyers said they purchased extended warranties. But is it worth the extra money?
An extended warranty isn't for everyone. For example, if you change cars every three years, an extended warranty makes no sense because your manufacturer's warranty is likely still in effect. If you plan on driving the car for a while, it may be something for you to consider.
"When shopping for an extended warranty, take your time and do your research. It's important decision because the warranty is only as good as long as the company stands behind it. Don't feel pressured to buy one on the spot and make sure you understand the fine print," said Angie Hicks of Angie's List.
Speaking of fine print, make sure you understand the details of the coverage and deductibles. Ask if the repairs can be done by any auto repair company or if you're restricted to specific ones.
One word of warning: Be wary of phone and mail solicitations from third-party companies to renew your original warranty.
Don't provide financial information such as your bank account or driver's license number before thoroughly checking out the company.