Is an extended car warranty worth it in Canada?
This can provide you with peace of mind and also save you money over the long run. If, for example, you are buying a used vehicle – then taking out an extended warranty may be in your best interest – in the event the older parts or systems do not hold up as long. New Vehicles An extended warranty may not be worth the cost if you’re planning on switching your vehicle within 10 years, since many modern vehicles are highly reliable. If you do plan on keeping the vehicle for 10+ years, then an extended warranty is certainly recommended.When are extended car warranties worth it? You might consider an extended car warranty if you’re purchasing a high-mileage vehicle. However, extended car warranties are often not worth it due to their high upfront price and coverage restrictions.Most extended warranties cost between $1,000 and $4,000, but the cost can fluctuate depending on the type of car and its specific make and model. For example, extended warranties for older cars with higher mileage may be more expensive due to their increased risk of breakdowns.Upfront Cost: Extended warranties can be expensive, and you might never use them. Weighing the cost of the warranty against the potential repair bills is crucial. Limited Coverage: Many warranties have exclusions and may not cover all types of repairs.Instead of buying a bunch of extended warranties that you’ll probably never use, you’re better off self-insuring by paying yourself the warranty payments. That way, if your TV does break after the normal warranty, you have the money saved to fix it. If not, it’s your money to keep. It’s a win-win!
Can I negotiate the price of an extended warranty?
Negotiating a Better Deal Speak with the finance and insurance managers, explain that you want to buy a new car and need to talk to them about the factory extended warranty on the vehicle. You may find that three different dealerships will give you three different prices on the same coverage. What percentage of people buy extended car warranties? About 37% of vehicle owners hold an extended warranty. Only 1 in 10, however, actually use their warranty.The likelihood of needing an extended warranty is low, especially if the product is durable and reliable. The cost of an extended warranty may be more than the cost of repair or replacement of the product.An extended warranty provides an added layer of financial protection beyond the manufacturer’s warranty, potentially sparing you from unforeseen repair expenses down the road. It can offer peace of mind and financial security, particularly for those dealing with mechanical and electrical failures.Extended warranties for cars over 100,000 miles cost $136 per month or $1,398 per year of coverage on average.
Is a Mercedes extended warranty worth it?
New and Pre-Owned Extended Warranties An extended warranty may not be worth the cost if you’re planning on switching your vehicle within 10 years, since many modern vehicles are highly reliable. If you do plan on keeping the vehicle for 10+ years, then an extended warranty is certainly recommended. Yes, you can purchase an Extended Warranty at any time, even if you don’t have an existing Mercedes-Benz warranty. However, please be aware that you’ll be unable to take out a monthly or 24-month policy, and will need to purchase a 12-month policy.The cost of a Mercedes extended warranty can range from $2,400 to nearly $8,000, depending on the vehicle and plan. You can extend the factory warranty by one to three years and cover up to 75,000 or 100,000 miles on the odometer.Compare the specifics of the plans you’re considering to find one that matches your needs. How long is coverage available? Extended warranty plans typically cover your vehicle anywhere from 2 to 7 years. If you expect to keep your car for several years, a longer plan may make sense for you.You can get an extended warranty for a car with over 100,000 miles, but options may be limited. Many third-party providers specialize in high-mileage vehicles, offering coverage for major repairs.Gain the peace of mind that comes with the exceptional coverage and service you get with Mercedes-Benz Extended Limited Warranty. The Mercedes-Benz Extended Limited Warranty is available for purchase before, and is effective as soon as, the New Vehicle Limited Warranty expires.
Can you buy an extended warranty after purchase in Canada?
However, it’s important to read the fine print to know exactly which parts or services are included. Extended car warranties can be bought at different times. You might purchase one when you buy your car, or you could decide to add it later. Pricing varies based on factors like the vehicle’s make, model, and mileage. Plus, your vehicle will also receive the quality of service and genuine parts that can only come from Mercedes-Benz. Additionally, you can purchase Mercedes-Benz Extended Limited Warranty coverage at any time prior to the expiration of your original New Vehicle Limited Warranty.To purchase the Extended Limited Warranty or to learn more, please visit an authorized Mercedes-Benz dealership. To locate a dealership visit MBUSA. FOR-MERCEDES (1-800-367-6372) today. Product offered and administered by Mercedes-Benz USA, LLC, and marketed by Mercedes-Benz Financial Services.The cost of a Mercedes extended warranty can range from $2,400 to nearly $8,000, depending on the vehicle and plan. You can extend the factory warranty by one to three years and cover up to 75,000 or 100,000 miles on the odometer.Extended warranties for cars over 100,000 miles cost $136 per month or $1,398 per year of coverage on average.
How much should I expect to pay for an extended warranty?
Based on this data, extended auto warranties cost an average of $1,297 per year across providers, plans, coverage options and vehicles. We also surveyed 1,000 extended auto warranty owners in January 2025. The majority of respondents, 70%, paid between $500 and $2,500 in total for an extended warranty plan. The benefits of an extended warranty After the manufacturer’s warranty has expired, you may consider taking out an extended warranty on a used car. The advantages of this are that you gain the peace of mind of being able to cover the cost of certain repairs to your vehicle for the period of the warranty.Extended car warranty prices in Canada typically range from $1,000 to $3,000. The cost is influenced by factors such as your vehicle type, age, mileage, desired coverage, policy duration, and whether it’s from the manufacturer or a third-party provider.Based on this data, extended auto warranties cost an average of $1,297 per year across providers, plans, coverage options and vehicles. We also surveyed 1,000 extended auto warranty owners in January 2025. The majority of respondents, 70%, paid between $500 and $2,500 in total for an extended warranty plan.When can I buy the Extended Warranty? The best time to buy the extended warranty is while buying your car. You can also buy your extended warranty later on, so long as the car is still under the new vehicle warranty. However, buying the plan later on implies a higher cost than when buying along with the new car.Extended warranties can offer peace of mind, functioning as a safety net for certain purchases. However, many products are reliable, so the cost of an extended warranty might outweigh the benefits.
Is it worth paying for extended warranties?
Like most insurance policies, an extended warranty is something you pay for in the hope that you’ll never need to use it. For many owners, it’s worth paying the price for peace of mind; even if your car is built by a brand renowned for its reliability, there’s always a risk that something could go wrong. Like brake discs, brake pads may be covered under a short, part-specific warranty or maintenance plan, but factory and extended warranties usually don’t cover them because they’re considered wear-and-tear components.What Is Not Covered Under an Extended Warranty. Preexisting damage: If your car is already damaged before you buy a warranty, the warranty won’t pay for repairs related to that damage. Normal wear and tear: Damage due to normal wear and tear, such as an alternator breaking down over time, may not be covered.Car warranties usually have exclusions, however, and you’re likely to find that your policy probably won’t cover: Wear and tear items, such as brake pads, clutch plates, and windscreen wipers. Tyres. Bodywork and paint.Extended warranties are great for people who want to be prepared for possible repairs that may be needed once the factory warranty expires. Keep in mind there is a difference between third party and factory warranties. In the past, we have not recommended third party warranties because they are inconvenient to use.Protect yourself from extended warranty scams First, before agreeing to any warranty, research the company that’s offering it. Look for reviews to see if the company is registered with your state’s consumer protection agency. A lack of information or negative reviews should be a major red flag.
Can I buy an extended warranty directly from the manufacturer?
Extended car warranties can be purchased from either your vehicle’s manufacturer or from an independent provider. Though coverage includes both parts and labor costs from repair shops, you’ll likely still have to pay a deductible on new auto claims. Whether you have an extended warranty or a vehicle service contract, you typically have two options—transfer the coverage to the new owner or cancel it for a prorated refund.Contact a Dealership Directly With your VIN and odometer reading in hand, contact your dealership to see if the car still has warranty coverage. You can call, visit or email any dealership of your car’s manufacturer. It doesn’t have to be the place where you bought the vehicle.