Thousands of people in this country get peace of mind from a vehicle service contract, such as the ones offered by Accelerated Service International (ASI). Through an ASI contract, which is sometimes called an “extended warranty”, vehicles can receive anything from bumper to bumper coverage to less extensive option. This means drivers have security and peace of mind, while also potentially being able to save thousands of dollars.
Understanding Extended Warranties
When you purchase a new vehicle, it comes with bumper to bumper coverage as standard. However, most people purchase new vehicles on finance, and it is rare for this coverage, which is simply a warranty, to last as long as the finance agreement. In fact, factory warranty is usually three years, whereas car loans are five years long on average. This means that there are two years in which the vehicle is not under warranty, and that is where the vehicle service contract comes in. Essentially, when the factory warranty expires, the vehicle service contract continues. It is up to you to decide how extensive you want this to be, with the greater the coverage the greater the price (and the greater the potential savings).
You can also take out an extended warranty on a used vehicle, or on a new vehicle with a poor warranty. It is more common for a used vehicle to break down, and the cost of this can run in the hundreds, if not thousands of dollars. By taking out a vehicle service contract, however, you will have your vehicle fully repaired and you only have to pay the deductible. As such, it is a type of insurance.
Finding an Extended Warranty
It is very important that you take the time to shop around for an extended warranty contract. Your dealer is likely to offer you one, but you should also look at what is available elsewhere. Do also contact ASI yourself to determine whether they may offer something that is perfect for your needs.
When comparing the market, do also check the ratings at the Better Business Bureau and see if you can find other independent reviews. This will give you a good idea of what service you can expect from a company, and whether they are easy to deal with. Indeed, that is a key factor to look into: if something does need repairing on your car, you want to make sure that it is done quickly and easily.
Once you found the company through which you want to purchase your extended warranty, make sure that you get a quote that is fully explained to you. You have to make sure that you know exactly what you will pay for and how you will pay it. Furthermore, you should avoid getting trapped by hidden costs later on. Hence, if you have any questions at all, have them answered before signing on any dotted lines. Any company not willing to answer questions should be avoided.