Many people consider that if they purchase a used car warranty, they will feel much safer about the risks they take when they decide to buy a used car. If that’s your opinion as well, I advise you to buy such a warranty only after you have a clear idea of what coverage is offered. The content of these documents varies widely, but usually there are two main types of coverage that you should expect to be offered: mechanical breakdown coverage and comprehensive coverage. No matter the used car warranty you decide to buy, it still should cover most of the major car parts: the engine, the electrical system, the suspension and the gearbox. What you shouldn’t expect the warranty to include is protection against paint or bodywork damage, against light problems and even oil leaks. That’s because these problems are usually considered to be the result of “wear and tear”.
If you are interested in the price of a used car warranty, you should know that the cost varies depending on the type of used car you own and on how much coverage you want to buy. To reduce the cost you can choose to be responsible for paying a part of every repair bill. It’s kind of like the deductible you can set high in order to pay less for your car insurance. For example, if you agree to an excess of £100 for a BMW used car comprehensive warranty, you will reduce the cost from £620 a year to £499.
To find a suitable used car warranty, you should visit a franchised dealer. By extending the warranty offered by the car manufacturer once it expires, you will benefit from the same coverage you are already used to. The warranty differs depending on the car’s manufacturer, so you should read the terms carefully. You should follow the same rules when you buy a used car from an independent dealer. Another source of used car warranties can be an independent provider. Some examples of companies that do business in this field are Warranty Direct and Warrantywise. There are also providers that offer only breakdown coverage which is not exactly the same with a full used car warranty. What’s also good to know is that all these providers allow you to transfer the warranty to a buyer if you decide to sell the car while the warranty still applies. The transfer will most likely suppose paying a fee of £10 to £50.
In principle, you can purchase a used car warranty for all types of used cars, but for some cars the process may prove more difficult than for others. For example, there aren’t many providers of used car warranties that offer coverage for used performance cars or for used cars that are being used in activities that involve driving schools and taxi driving.
To be able to buy such a warranty you will have to provide a MoT test certificate and also documents that prove the car has been repaired by a registered garage. All these documents need to be current (maximum a year old). Another reason used car warranty providers give for not offering policies for certain cars is related to the age and mileage of the car you own. If your car exceeds the limits these providers establish, it’s very likely that they won’t agree to cover your car. For example, some providers refuse to offer warranties for used cars that have more than 60,000 miles on board or are older than 6 years. However, the best providers in the field offer unlimited mileage policies.