You’ve bought a used car and you want to look after it. But warranties cost money, so is it worth investing in one?
Buy a new car and it’s a fundamental part of the agreement that you will receive a warranty with it – cover against mechanical and parts failure. These are usually for at least three years, but some manufacturers offer five or even seven years of cover.
But opt for a used model and you almost certainly won’t get the same length of cover as you would with a new one. You can though, find some very comprehensive used car policies.
So the big question is: should you buy a used car warranty for your new (to you) pride and joy?
The older your car is when you buy it (and the older it gets during its time with you), the more likely it is that something is going to fail. Cars are machines that need care and attention and parts gradually wear out no matter how reliable the manufacturer is.
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Age is one of the factors taken into account when car warranty providers are preparing you a quote. Other considerations include:
Most used car warranty companies, including Warranty Direct, offer cover that is designed to suit you and your personal needs and will include useful extras, such as roadside recovery and MOT repairs cover, in the policy.
Depending on the type of cover you require – along with the age and condition of your car and the level of excess you are prepared to accept – costs can vary greatly, from £10 a month to £100, so there should be something to suit everyone.
Most used car warranty companies cover repairs or replacement costs for most electrical and mechanical components. Generally used car policies include expensive parts such as gearbox, engine and other cars computer parts.
Some policies, such as Warranty Direct’s, also cover the car’s multimedia system, including satnav, Bluetooth equipment, infotainment screens and the radio, if they’re factory fitted.
For most car owners, the answer is yes. Car parts are expensive and labour fees can be considerable so, unless you are confident you can cover the potentially big cost of a serious fault or failure, it’s certainly worth looking at and, at least, applying for a quote.
One important point: if you are going to cover your used car after the manufacturer’s warranty has expired, plan to do it straight away. Doing it later could mean a more expensive policy for you. Car warranty Providers look at the age and mileage of the vehicle when preparing a quote and, as these grow, the estimate can too.
Warranty Cover is arranged and administered by FirstBase Future Marketing Limited “FBFM” trading as Warranty Direct, a limited company registered in England and Wales. registered number: 8035554 Registered Office: 5 Clements Court, Clements Lane, Ilford, Essex IG1 2QY Tel: +44(0)20 8553 4076 and is regulated by the Financial Conduct Authority. Financial Services Register number FRN: 590013.
Warranty policies are underwritten by QBE UK Limited registered in England number 1761561, home state United Kingdom, authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, registration number 202842.
The Warranty Direct brand and logo are trademarks of “FBFM”. The website https://www.warrantydirect.co.uk and its designs are solely owned by “FBFM”.