Can you cancel your extended warranty and get your money back?
How to get your money back. You can cancel an extended warranty at any time and you’ll get a prorated refund for the unused portion of your policy. If the warranty was included in your loan, your car payment won’t drop, but you may pay off the car sooner after the refund is deducted from your balance. The short answer is “no. Mark Kotkin, Director of Consumer Reports National Research Center, says that “extended warranties tend to be a bad deal for consumers” because “most repairs do not occur during the limited time period covered by the extended warranty. Sheila Adkins, Community Outreach Manager for the Better .Do not buy an extended warranty. Skip the warranty if it’s a reliable model. A policy is an unnecessary expense. Search Autotrader for model reviews highlighting which years are best to buy used.An extended warranty price represents a percentage of the total product cost. As a general rule of thumb, you shouldn’t spend more than 30% of the product cost on a product warranty.The initial car warranty is built into the cost of a new car. But after your initial car warranty has expired, it’s possible to buy additional coverage in the form of an extended warranty. These are also sometimes called service contracts.
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. Many consumers and third-party companies commonly use these terms interchangeably, so we’ve done the same in this article. Extended warranties for cars over 100,000 miles cost $136 per month or $1,398 per year of coverage on average.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 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.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.Mercedes-Benz Extended Warranty Protections Honored at more than 350 authorized Mercedes-Benz dealerships. New Vehicle Warranty.
Can I buy a Mercedes extended warranty later?
Additionally, you can purchase Mercedes-Benz Extended Limited Warranty coverage at any time prior to the expiration of your original New Vehicle Limited Warranty. Will an Extended Warranty Cover Engine Repairs? Yes. Powertrain warranties cover the engine and all of its related components, such as the cylinder block, valvetrain, and other internal mechanisms.Extended car warranties typically cover malfunctions in a car’s powertrain for a set period beyond the standard warranty. Powertrain extended warranties typically cover the car’s: Engine. Drivetrain components like the transmission, axles, and differential.Once your CPO Limited Warranty expires, the CPO Extended Limited Warranty offers up to 2 additional years (unlimited miles), providing the same comprehensive coverage. For additional details, contact your local Mercedes-Benz dealer.Once your original Mercedes-Benz warranty is up, you can opt for a Mercedes-Benz extended warranty that can add between 50,000 and 100,000 miles of extra coverage depending on which package you choose. What is the Mercedes-Benz extended warranty cost? Between $2,400 and $8,200.Whether you should buy an extended car warranty is a personal decision. While many drivers never use a warranty, others are glad to have the extra coverage. If you drive a reliable car and could afford to pay for unexpected repairs out-of-pocket, an extended car warranty might not be worth the cost to you.
Can I negotiate extended warranty price?
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. 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.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.That’s because you can buy an extended warranty at any point before the included factory warranty expires, which means you can hang on to your money for three years and then buy an extended warranty if you decide you need one. By then, you’ll have an idea of how reliable the car has been.While car insurance and extended warranties share the goal of protecting your vehicle, they serve different purposes. Car insurance is essential for addressing damages resulting from accidents and external events, while an extended warranty focuses on covering the costs of mechanical breakdowns.If you decide to sell the car, it gets declared a total loss after a collision, or it’s stolen before your original warranty expires, you will have wasted every penny you spent on the extended warranty.
How much should I pay for a Mercedes extended warranty?
Cost of Mercedes-Benz CPO Extended Warranty On average, expect to pay between $2,000 and $3,500 for an additional one or two years of unlimited mileage coverage. This pricing may be financed along with your CPO vehicle purchase. 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.You can often purchase an extended warranty at any time, even after the manufacturer’s warranty has expired. This allows you to add coverage if you plan to keep your vehicle for several more years. In contrast, manufacturer warranties must be purchased at the time of the vehicle’s sale.