Carchex extended warranties give consumers more choices and control over their plans than other companies – a highlight we found is consistently mentioned in positive Carchex reviews. We give the company an overall review score of 4.5 out of 5.0 stars based on its ratings in the key areas mentioned below.
How We Rated Carchex
We’re constantly revamping our review methodology to provide current rankings of the best companies. As part of our warranty research, we collected over 2,000 data points on 46 warranty providers, reached out for over 140 quotes, and surveyed 2,000 customers to give you a comprehensive picture of how Carchex compares to competitors.
We evaluate companies in five main categories: industry standing, coverage, cost, transparency, and customer service. These categories provide a complete picture of what customers can expect when working with each provider we’ve reviewed, from shopping for coverage to getting quotes.
Industry Standing: 5.0
We give Carchex a perfect 5.0-star rating in this category due to its A+ rating from the Better Business Bureau (BBB) and numerous prestigious awards. The company has been on the Inc. 5000 list of the fastest-growing companies eight times and on Selling Power’s Top 50 Companies to Sell For on four occasions.
For context, the industry average in this category across all providers we reviewed is 4.1. Clearly, Carchex has established itself as a dependable warranty contract provider.
Carchex offers five levels of warranty coverage that can last up to 10 years or 250,000 miles, which are higher limits than many warranty providers feature. Carchex plans include towing assistance, rental car reimbursement, and trip interruption benefits that help pay for food and lodging when you have a covered breakdown far from home.
Weighing all these factors, we give Carchex a healthy 4.8 out of 5.0-star coverage rating. Again, Carchex outpaces other companies in this category at half a point above the industry average of 4.3.
We give Carchex 4.0 out of 5.0 stars for cost, compared to the industry average of 4.1. Carchex falls a little behind the curve because many of its plans cost above-average prices according to our research. However, the fact that the company offers long warranty terms means you may pay less per year of coverage than you would with many other leading providers.
Our team gathered Carchex quotes for two vehicle models: a 2017 Honda CR-V with 45,000 miles and a 2017 Chevrolet Silverado with 50,000 miles. We selected several coverage levels and terms with a $100 deductible for each quote.
The process of collecting quotes from Carchex was fast and simple. We were immediately connected to a helpful agent who walked us through all our warranty options. After hearing initial price estimates, we were also offered an array of discount opportunities.
We consider several factors when rating warranty providers for transparency, including the availability of a money-back guarantee and easily accessible sample contracts for each warranty plan.
Carchex checks these boxes and makes sample contracts available for all five of its coverage plans. This level of transparency builds strong customer relationships and reinforces Carchex’s legitimacy and strong industry standing, so we give the company a 4.8 in this category.
Few providers we researched and reviewed scored as highly as Carchex in this category, as the industry average across providers we rated is just 3.4.
Customer Service: 3.9
Customer ratings and complaints through sites like the BBB and Trustpilot play key roles in our customer service ratings. Carchex loses some ground in this category due to mixed customer reviews and a lack of customer service chat options on its website.
Ultimately, we give Carchex a 3.9 out of a possible 5.0 in the customer service category – a score that reflects the company’s customer feedback and the volume of complaints on its BBB profile. While that’s lower than Carchex’s scores in some of our other rating categories, Carchex still comes in above the average score of 3.7 across all providers we rated.
Does Carchex Have A Good Extended Warranty?
Yes, Carchex is one of our top picks for extended warranty coverage. Carchex partners with top-rated and fully insured administrators such as American Auto Shield and Royal Administration Services. Each provider competes for your business, giving you a quality product at the best price. Carchex plans can last up to 10 years or 250,000 miles, making the provider an excellent used car warranty option and our choice for Best for Used Cars.
See the table below to help you weigh the pros and cons of a Carchex extended warranty:
Carchex Quick Facts
- Founded: 1999
- Headquarters: Baltimore, Maryland
- Coverage options: Five including powertrain warranty coverage and comprehensive exclusionary coverage.
- Coverage terms: Up to 10 years/250,000 miles
- Partners: Edmunds.com, Carfax, Kelley Blue Book, and more
Carchex Pros And Cons