Is it a good idea to buy an extended warranty on a used vehicle?
Probably not. For most buyers, the high cost of an extended warranty for a used car outweighs the potential benefits. The warranty providers design these plans to be profitable. On average, customers pay more for the policy than they receive in covered repairs. Extended auto warranties cost an average of $1,297 per year across providers, plans, coverage options and vehicles, based on our February 2025 secret shopping. Manufacturers and third-party providers don’t have set rates for extended warranty costs.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.Extended warranties offer protection beyond the standard 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.The Extended Limited Warranty can be purchased at any time during the new vehicle basic warranty period (48 months/80,000 km), as long as the vehicle has been regularly maintained at an authorized Mercedes-Benz Retailer.
What does a used car warranty include?
Used car warranties provide protection against unexpected repair costs. There are several types of warranties, including manufacturer, dealer, and third-party warranties. Warranty coverage varies, but typically includes major mechanical and electrical components. Some car owners, particularly those with older vehicles, purchase warranties just to have peace of mind in the event of unexpected repair costs. While 47% of vehicle owners hold an extended warranty, only one in 10 have ever used it.A used car warranty is a service contract that protects against certain mechanical breakdowns and repairs after purchasing a pre-owned vehicle. These warranties can cover the cost of parts and labor for specific components or systems that may fail due to normal use.It reduces your assumed risk: A CPO warranty protects your purchase against unexpected repair costs, reducing the financial risk typically associated with buying a used car. Knowing a warranty covers your vehicle can provide peace of mind.One question that often comes up is whether a used car will have warranty coverage. Unless the warranty hasn’t yet expired, most used vehicles will not have warranty coverage. The only exception is certified pre-owned (CPO) vehicles that have some kind of warranty. CPO is often included in the cost of a vehicle.Review the Owner’s Manual It typically outlines the terms of the manufacturer’s warranty, including the duration (in years or miles) and the components covered. Comparing the car’s purchase date and current mileage with the warranty terms can help determine if the vehicle is currently covered by a warranty.
How much is a used car extended warranty?
An extended warranty typically costs an average of $600 to $2,000 per year, but that varies widely based on where you buy the warranty, the reliability of the vehicle the warranty covers, and other factors. The price of an extended warranty also is negotiable. The pros of an extended warranty include the following: Greater Peace of Mind: Knowing you’re covered for unexpected repairs can reduce stress and alleviate the worry of having to pay for costly fixes out of pocket. This can be especially valuable for those who rely on their vehicle for work or important daily tasks.One of the greatest benefits of an extended warranty is you can add it to almost any used car you buy, regardless of condition, age or miles. You may have to pay extra based on those factors, but you can almost always find a company that will provide you with an extended service contract.Probably not. For most buyers, the high cost of an extended warranty for a used car outweighs the potential benefits. The warranty providers design these plans to be profitable. On average, customers pay more for the policy than they receive in covered repairs.An extended warranty typically costs an average of $600 to $2,000 per year, but that varies widely based on where you buy the warranty, the reliability of the vehicle the warranty covers, and other factors. The price of an extended warranty also is negotiable.
Can I get my own warranty on a used car?
For most U. S. Extended warranties, which can be purchased from the manufacturer or a third-party provider, are among the most popular choices for people looking to get protection for their used vehicle. Can I get a warranty for a used car? Yes, you can buy a warranty from a third party provider, if the car dealer doesn’t include a warranty or your car is not part of a manufacturer approved-used scheme. Be aware that there may be age and/or mileage limits.If a used car doesn’t come with a written warranty, it’s still covered by implied warranties — unless it’s an as is” sale. Here are some common implied warranties: A “warranty of merchantability” means the dealer promises the car will do what it’s supposed to do: it will run.Certified used cars have warranty coverage that you don’t get with non-certified pre-owned vehicles. That costs the dealership money, and some of the cost is passed back to the buyer. CPO cars are subject to a strict inspection and refurbishment process that other used vehicles don’t go through.
Does a warranty come with a used car?
Dealers may offer a full or limited warranty on all or some of a car’s systems or components. Most used car warranties are limited and their coverage varies. If you have a full warranty, it will include these terms and conditions: Anyone who owns the car during the warranty period can get warranty service. Do Warranties Transfer to New Owners? Yes, factory new car warranties typically transfer to the new owner in nearly every case because they are tied to the vehicle identification number (VIN). Therefore, regardless of ownership, the new car warranty will be valid for the entire warranty term.
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. Every Mercedes-Benz Approved Used car for sale comes with a guarantee of at least 12 months’ comprehensive unlimited mileage warranty.Once that warranty ends, the Mercedes-Benz certified pre-owned limited warranty kicks in, offering you a 12-month, unlimited-mile warranty covering the engine, powertrain, suspension, steering, climate control, electrical system, audio and navigation system, brakes (but not wear items like pads and rotors), and more.One-Year Unlimited Mileage Warranty. Every Mercedes-Benz Approved Used car for sale comes with a guarantee of at least 12 months’ comprehensive unlimited mileage warranty.Great protection continues. Peace of mind. Every Mercedes-Benz Certified Pre-Owned (MBCPO) vehicle is covered by the MBCPO Limited Warranty1, which runs for 1 Year with Unlimited Mileage2, and any remainder of the vehicle’s original 4 Years/50,000 miles Mercedes-Benz New Vehicle Warranty.Mercedes-Benz says a grace period will apply for those who purchase before April 1, with the new warranty structure to be backdated to March 1, 2020. Mercedes’ warranty extension follows mass adoption of five-year provisions across mainstream marques in 2019, including quasi-luxury brands such as Volkswagen.