Having an extended warranty can increase your resale value
When people shop for a used car, they're not just looking to buy transportation. They're also want reliability, peace of mind and a guarantee. Those are the hardest things to be sure of when looking over a used vehicle. That's where an extended warranty comes in. While buying a new car, you might feel secure enough with your financial situation to stick with the manufacturer's warranty. However, when you want to sell the car a few years down the line, an extended warranty can help you sell more quickly and for more money.
Buying and selling a used car boils down to an issue of trust. The seller wants to make the most money possible, and the buyer worries that there's an issue with the vehicle that isn't being mentioned. That's why many buyers are willing to pay the extra money to have a mechanic check the whole car before they sign. An extended warranty removes that need, saving time and money for both parties. It also makes your car more desirable than other offers that have a similar make and model. To transfer the warranty you would have to pay a small fee (50 dollars in most states,) but you could up the resale value of your car quite a bit by advertising the warranty as part of the package deal.
Another way that the extended warranty saves you money is that you don't have to do major repair work before you sell. Most people sell their cars by advertising the fact that they recently replaced the timing belt or clutch, ensuring that that particular issue won't crop up in the near future. An extended warranty means that you'll never have to worry about the cost of an expensive breakdown while you own the car, and
potential buyers will feel financially secure when considering the deal. You won't spend too much while you own the car and you get more money when you sell.
To find the best kind of extended warranty for your car, go online and compare prices. You can get anything from bumper-to-bumper warranties that cover everything, to warranties that only cover major breakdowns. Full coverage will be more expensive, but it will do wonders for the resale value. Buying an extended warranty is essentially getting a guarantee that you'll never be surprised with a major expense, and the assurance that you'll get a good price in the end.