Can You Buy Extended Car Warranties For Used Cars?
“I have a question about extended car warranties. Are there reputable companies selling extended auto warranties for used cars? And can you buy one after you already bought a used car? How does this work?”
The above question about extended car warranties was submitted by a reader and here are a few things to consider…
First of all; an extended auto warranty is basically an insurance policy covering your for future repairs. They might seem expensive at first but with the insane cost of car repairs now, even just one repair can pay for the initial cost of your warranty. Whether the warranty company will insure your used car usually depends on:
- How old your car is.
- How many miles are on the vehicle?
- Did you buy the car from a car dealer?
- Is your vehicle currently covered under an extended auto warranty policy?
- How long after you bought the car are you applying for coverage (most extended auto warranty companies have a time limit)?
Yes, you can buy a warranty for your used car; but, be sure you read all the small print.
You can buy extended car warranties after the fact when you have purchased a used car, but there are conditions and stipulations that you will need to consider to see if their policy will work for you…
Usually you cannot warranty a car you bought from a private owner. However if you bought a car from a private owner, and the vehicle is still under manufacturers warranty, or if they bought an extended warranty, that warranty is usually transferable to you if the vehicle is still within the specifications and terms of the warranty.
The thing with buying a maintenence or repair warranty for a used car is this. Most used car dealers who sell extended auto warranties do so because they are a participating provider of the service under these warranties. Meaning that you can bring your vehicle to them and they will do all the warranty repairs for the term of the warranty as long as you pay your deductible (most are about $100).
I have a MUCH older car that I bought many years ago that I got an extended car warranty for.