What should I pay for an extended warranty?
The cost of your extended vehicle warranty depends on a variety of factors, like the make, model and age of your car. However, you’ll typically need to pay at least $1,000 per year of coverage, and you may need to pay as much as $3,000 per year, or even more. For some, you cancel your warranty coverage easily with a phone call. For others, you’ll need to fill out a cancellation form, a letter of intent, and proof of the odometer reading at the time of mailing and either mail it in or bring it to the dealership to initiate the extended car warranty cancellation process.Available for purchase before, and effective as soon as the New Vehicle Limited Warranty expires, it provides the exceptional coverage and dedicated service you deserve. Whether it’s for 12, 24, or even 36 months, the Extended Limited Warranty offers continuous protection options of 75,000 or 100,000 miles.The Mercedes-Benz New Vehicle Limited Extended Warranty goes into effect once the New Vehicle Limited Warranty expires. So, after the first 48 months/50,000 miles of ownership, you can continue on with valuable coverage. Plus, this warranty is 100% refundable if you cancel it before it goes into effect.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.While it may sound like a good idea in theory, extended warranties often come with a high price tag and don’t necessarily cover everything that could go wrong. Plus, many people who buy extended warranties never use them. In that case, an extended warranty becomes a cost with no financial return.
Can you negotiate extended warranties?
An extended warranty can provide many benefits, including financial coverage and peace of mind, should something go wrong with your vehicle. If you are considering the purchase of an extended warranty for your used car, it is possible to negotiate with the dealer for the best price and the warranty coverage you need. 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 policy, and will need to purchase a 12-month policy or a 24-month policy.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.The best way to buy an extended car warranty is through either a third-party provider or the dealership where you purchased the vehicle. Extended warranties can cost anywhere from $372 to over $2,000 per year, depending on your coverage level and vehicle, with an average annual price of $977, according to our research.Extended coverage is available for up to seven years or up to a 160,000 km maximum, whichever comes first. And if you change your mind and decide to sell or trade in your Mercedes-Benz during this period, an Extended Limited Warranty can help retain and increase the resale value of your Mercedes-Benz.
Is extended warranty a ripoff?
While a service contract might sound like a good idea, it could duplicate coverage you have through your manufacturer’s warranty. And you might actually pay more for a service contract than you get back in benefits. What’s more, some companies pitching warranty extensions are scammers. With a Mercedes-Benz Extended Warranty, you’re covered for any costly repair bills that may arise if your car experiences a mechanical or electrical failure. As the owner of one of our Extended Warranty policies, you can drive with ease knowing you’re protected.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 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.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!Extended warranties These warranties provide protection on certain mechanical and electrical components not covered by the manufacturer’s warranty, but they typically exclude routine maintenance, such as oil changes and tire replacement.What are two of the things should you consider before getting an extended warranty?Extended warranty providers should be willing to give you specific information about the extent of coverage for each plan they offer. Even basic coverage can include a long list of components that are covered. Compare the specifics of the plans you’re considering to find one that matches your needs. 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.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.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.