Many American drivers chose to hold onto their current vehicles during the recession, but now that the economy is recovering, consumers are starting to head back to the dealerships. Bloomberg reports that many car owners are expected to trade in their current vehicles for new models.

"New-vehicle buyers are usually trading in three, four, five-year-old vehicles," Thomas Webb, Manheim Consulting's chief economist, told the news source. "They will be trading in an older vehicle now, which means they might have actually paid off the loan and have some positive equity. that's supportive to the new vehicle market."

Whether drivers are not ready to get into new vehicles just yet, or they want to protect their newly-acquired cars, an extended warranty can be just the ticket. This way, their rides will be covered if unexpected repairs arise.

Those who want to keep their current cars running smoothly as long as possible can use entended warranties to cover the cost of necessary repairs. They can also get regular maintenance and fluid changes to make sure their vehicles will continue to run well until they're ready to trade them in. This will also help to retain the resale values.