Extended car warranties are a useful precautionary measure every car owner should take. Your bumper to bumper warranty can only help you for so long and if you don’t plan to sell your car after the factory warranty expires, you should definitely think about protecting your vehicle and your wallet. A bumper to bumper warranty is usually available for 3 years or 36,000 miles, or up 5 or 6 years, best case scenario.
Extended car warranties are basically vehicle service contracts (VSC) that you can buy for your car. You can buy them from your dealer, they can be offered directly by your car manufacturer or by a third-party. Their purpose is to cover specific parts of your car, so in case those parts broke, the extended car warranty provider pays for the repairs.
The coverage and length of the contract varies from provider to provider. These contracts can be bought when you buy the car or anytime before the factory warranty expires.
CARCHEX - What are its features?
CARCHEX is a very experienced name in the car warranty industry and not only that. This company was founded in 1999 and offers several products: extended car warranties, financing, vehicle inspection. CARCHEX is rated with an A+ by the Better Business Bureau and it is one of the most affordable extended car warranty providers you can find on the market.
CARCHEX is available nationwide. It doesn’t cover Mexico and Canada.
CARCHEX has a total of 18 plans you can subscribe to. They are grouped in 5 levels: Titanium, Platinum, Gold, Silver and Bronze. The most premium and complex one is Titanium and the most basic one is Bronze.
Each of these levels comes with its own plans. The most comprehensive and lengthiest coverage can be found in the Titanium plans, which cover your vehicle for up to 7 years. The mileage restriction for Titanium is 250,000 miles, which is pretty impressive. Gold on the other hand covers cars with 60,000 miles.
The Silver and Bronze levels are the most basic ones and only cover the essential parts of your car. The Bronze level - engine and transmission and the Silver level - a bit more than the power train.
CARCHEX has a $100 deductible and an average of 5% on the down payment.
In order to get a customized quote, you have to fill in the form on their site: your ZIP code, car make, model, mileage, etc. You will receive a quote by email.
No restrictions in terms of repair facility
CARCHEX gives you the freedom to take your car to any repair shop in the country you want, be it a dealer, an independent facility or a national chain such as Goodyear. The process is the same for all of them. They diagnose your car, send the bill for approval to CARCHEX and they pay for the repairs.
CARCHEX offers roadside assistance and also reimburses you for car rental while your vehicle is in the shop.
Their warranties are transferable and they also include benefits such as lockout, flat tire.
The waiting period for the warranty to be used is within the industry standard: 30 days or 1,000 miles.