Thursday, January 14, 2010
Sometimes people are unsure about extended warranties for vehicles, claiming they are costly and unnecessary. Yes, they can be expensive, but then again, cars aren't cheap. Unfortunately, repairs can be pricey too, depending on the work involved.
But here's a little comparison for you. iMac computers, for example (I love iMacs!) will run about $1,500 brand new. The 3 year warranty (2 years beyond the manufacturer warranty) they offer costs $169. That's 11.26% of the total purchase price. Apple is a pretty good company, and when compared to other electronic manufacturers, their warranty is likely more affordable than most.
We have a 2008 BMW 528i for sale. The car is listed at $28,395, and a 4 year/60,000 mile all inclusive warranty runs $1,922. That turns out to be 6.7% of the total price for the car, and that's for a BMW, not a Toyota.
We offer extended warranties through JM&A Group, the same company that provides the "certified used" warranties for Toyota, Volkswagen, and Audi vehicles. A little known fact: certified used vehicles don't have their warranties through the manufacturer. It's always through a 3rd party, for example, JM&A. We have warranties available for just about all of our vehicles, with different term, mileage, and coverage options available to fit any budget.