Editorial Note: This content was researched and produced by Motor1.com‘s expert review team. Links in this article may result in us earning a commission but do not impact our advice or recommendations. Learn More

Cheap Car Warranty

The cheapest car warranty companies that provide the best coverage options in 2023 are Olive, CarShield, Concord Auto Protect, Endurance, and Toco.

Invalid Zip Code
Check Price

With our #1 rated provider,

877-374-1840
Updated: Sep 15, 2023
By:

Whether you have a shiny new vehicle or a trusty used car, one thing’s for sure – auto repairs can be costly. However, extended warranty coverage can also be expensive. When choosing a coverage plan that meets your needs, it’s best to compare quotes from a few different providers.

Our review team has spent over 1,475 hours mystery shopping, researching, studying reviews, and surveying past customers of the best extended car warranty companies to find those with affordable coverage. In this article, we’ll go over the typical cost of extended warranties, the best providers that offer them, and tips for finding a cheap car warranty to help pay for costly car repair bills.

Speed Reads:

  • Your vehicle’s age, mileage, make, and model as well as your choice of coverage plan can affect extended car warranty costs.
  • We found that Olive, CarShield, Concord Auto Protect, Endurance, and Toco all offer excellent coverage options at affordable prices.
  • We recommend that you compare quotes from multiple providers in order to find the cheapest car warranty that’s reliable and fits your needs.


 

Cheap Extended Car Warranties

In our industrywide review of the cheapest car warranty companies, our team researched the cost and plan offerings from various providers. We found that an extended warranty can be gotten for as low as $25 per month.

Cheapest Car Warranty Prices

The table below provides details on companies with some of the cheapest auto warranties ranked by the cost score given by our editorial team. We also included information on the most affordable plan offered by each company, along with the cheapest rates.

Extended Car Warranty
Company
Cost
Rating
Cheapest PlanCheapest
Monthly Rate
1 Olive4.8Powertrain$25
2. CarShield4.6Silver$110
3. Concord Auto Protect4.6Powertrain$44
4. Endurance4.5Secure$107
5. Toco4.3Green$58

*The cost of your extended warranty will differ depending on the car’s age, condition, make, model, and mileage.


 

Cheapest Car Warranty Companies

Our research team conducted an industrywide review of the best car warranty companies and found several cheap car warranty providers that are worthy of your time. Our top picks for affordable options are Olive, CarShield, Concord Auto Protect, Endurance, and Toco, and you’ll find an in-depth breakdown of each provider below.

1. Olive: Most Affordable Car Warranty Company

Over the past few years, Olive has made a name for itself with affordable rates and an easy claims process. The car warranty company is quite innovative, featuring a tool on its website that can calculate a car warranty quote within a minute. Olive is available in all 50 states and holds an A+ rating from the Better Business Bureau (BBB).

Olive Extended Warranty Cost

Our research team found that warranty plans from Olive range from $26 to $46 per month, depending on the level of coverage you choose. Most coverage plans come with a $500 deductible and require a first-month down payment.

The table below shows quotes we received from Olive for different extended warranty plans:

Olive Warranty PlanMonthly Cost EstimateTerm LengthDown Payment
Powertrain$263 yearsFirst month
Powertrain Plus$363 yearsFirst month
Complete Care$463 yearsFirst month

Olive Warranty Coverage

Olive provides three levels of extended warranty protection along with mechanical breakdown insurance in California. And unlike most warranty companies, there’s no waiting period for any of Olive’s plans, which means that your car is protected as soon as you purchase coverage.

Here’s a look at the different warranty plans offered by Olive:

Olive Warranty PlanCoverage Details
Complete CareThis is Olive’s exclusionary coverage plan, taking care of most vehicle components unless otherwise stated.
Powertrain PlusThis mid-tier plan covers all basic vehicle components as well as the braking system, certain instrumentation, and front suspension.
PowertrainThis basic powertrain warranty covers a vehicle’s most essential parts like the engine and transmission.

Most Olive warranty plans come with towing and rental car coverage but leave out roadside assistance and trip interruption benefits.

Read more: Olive warranty review

Best Online Warranty 4.5/5

There’s no waiting period for coverage with this extended warranty company.

2. CarShield: Best Monthly Payments

CarShield is one of the most popular extended warranty companies on the market. Since its start in 2005, CarShield says it’s covered over 2 million vehicles and paid out over $1 billion in administrative claims. CarShield is an excellent choice for used vehicle warranties, as its contracts can cover cars for up to 300,000 miles.

CarShield Warranty Cost

CarShield is a good option for drivers who want month-to-month coverage. In our research, we found that plans start as low as $110 per month. The table below shows some quotes we received from CarShield which come with an unlimited term length.

CarShield Warranty PlanMonthly Cost EstimateTerm LengthDown payment
Silver$110UnlimitedFirst month
Gold$110UnlimitedFirst month
Aluminum$110UnlimitedFirst month
Platinum$120UnlimitedFirst month
Diamond$140UnlimitedFirst month

CarShield Extended Warranty Coverage

Though some of CarShield’s plan options spread the total cost over 24 months, CarShield also offers month-to-month payment plans. This means you can keep your coverage for as long as it’s convenient, which could help you save money. We’ve named it the provider with the Best Monthly Payments for this reason. Most CarShield extended vehicle warranties range from about $110 to $140 monthly.

In total, CarShield has six coverage levels for consumers to choose from. Most CarShield aftermarket car warranty plans can be transferred, and we like how you can select a month-to-month contract. See below for a more detailed breakdown of each plan.

CarShield Warranty PlanCoverage Details
DiamondThis plan offers complete bumper-to-bumper protection similar to the manufacturer’s warranty. Since it offers the highest level of coverage, Diamond is the most expensive option from CarShield.
PlatinumComprehensive coverage designed for high-mileage cars that includes the radiator, electrical, braking, suspension, and steering systems.
GoldThis powertrain-plus plan includes coverage for the powertrain and a few other key systems like the fuel system, air conditioner, alternator, and starter.
SilverEssentially powertrain coverage, this is the most affordable option and takes care of all lubricated parts on the engine, transmission, and water pump.
AluminumA specialty plan for high-tech components that covers power windows, the audio system, navigation, and other electrical components.
Motorcycle & ATVAs the name suggests, this plan covers specialty vehicles like motorcycles and all-terrain vehicles (ATVs).

Most CarShield extended warranty plans include perks such as:

  • 24/7 roadside assistance
  • Towing
  • Rental cars
  • Flexible payment plans
  • Your choice of mechanic

CarShield Customer Reviews And Ratings

CarShield currently has a D rating from the BBB due to unresolved complaints and reported instances of misleading advertising. However, CarShield has over 40,000 reviews and a 4.0- out of 5.0-star rating on Trustpilot. Positive reviews mention the ease of CarShield’s claims process and excellent customer experiences.

Read more: CarShield review

3. Concord Auto Protect: Cheap Powertrain Plans

Concord Auto Protect is known for cheap car warranties and straightforward coverage options. In our research, we found that drivers can save in multiple ways, including by paying upfront or by signing onto a payment plan.

Concord Auto Protect Warranty Cost

Quotes we received from Concord Auto Protect show that most plans tend to cost between $44 and $49 per month without any discounts. Keep in mind, though, that your extended warranty costs will differ depending on the level of coverage you choose and your own circumstances.

Concord Auto Protect
Warranty Plan
Monthly Cost EstimateTerm LengthDown Payment
Powertrain$445 years/60,000 miles$300
Advanced$495 years/60,000 miles$300
Premium$495 years/60,000 miles$300

*Some prices in the table above reflect prices with discounts involved.

Concord Auto Protect Warranty Plans

Drivers can choose from three different Concord Auto Protect plans. All vehicle service contracts come with rental car reimbursement, locksmithing services, trip interruption coverage, and parts and labor.

The table below shows the three different plans offered by Concord Auto Protect.

Concord Auto Protect Warranty PlanCoverage Details
PremiumThis is the highest level of coverage offered by Concord Auto Protect and is most similar to a bumper-to-bumper warranty.
AdvancedThis mid-level coverage plan protects powertrain components as well as all-wheel and four-wheel drive components.
PowertrainThis basic powertrain plan covers your vehicle’s most essential parts like its engine, transmission, and drive axle.

Read more: Concord Auto Protect reviews

4. Endurance: Best Value Coverage

Endurance has spent the last 16 years becoming one of the biggest names in the extended auto warranty industry. We think Endurance has the best coverage overall because it handles all of its warranties in house. Unlike the other options on this list, you won’t deal with a broker for coverage – Endurance is your direct provider.

Endurance Warranty Cost

Endurance warranties range from $107 to $133 per month depending on the level of coverage you choose. There are various term lengths available based on what exactly you’re looking for.

Endurance Warranty PlanMonthly Cost EstimateTerm LengthDown Payment
Secure$1075 years/54,000 years$153
Secure Plus$1145 years/100,000 miles$300
Superior$1196 years/75,000 miles$20
Supreme$1336 years/100,000 milesN/A

Endurance Extended Warranty Coverage

Endurance offers six levels of coverage, and each of its warranty plans comes with a 30-day money-back guarantee. Through our research and obtaining quotes, we found that extended warranties from this provider tend to range from roughly $107 to $133 per month depending on your choice of coverage.

Take a look below at the six coverage options that Endurance offers to consumers:

Endurance Warranty PlanCoverage Details
SupremeThis is the most inclusive plan and offers bumper-to-bumper coverage with a short list of exclusions.
SuperiorThis plan is the highest level of stated-component coverage offered by Endurance, and protects hundreds of parts.
Secure PlusThis plan has the shortest waiting period (30 days or 1,000 miles) and covers the braking system, steering system, and electrical components.
PremierDesigned for high-mileage vehicles, this plan covers basic components from major systems.
SecureAs the most affordable option, this plan includes standard coverage for vital powertrain components.
EnduranceAdvantageTMThis covers mechanical breakdowns as well as maintenance like oil changes, engine diagnostics, and brake pad replacements.

Endurance offers a long list of benefits, including roadside assistance through its Endurance Elite Benefits program. However, these are only included for the first year of your aftermarket warranty contract.

With any Endurance service plan you can expect quick claims processing, identity theft protection, and free tire replacement or repair services. In addition, Endurance lets you select any repair shop certified by the National Institute for Automotive Service Excellence (ASE®), making the search for a vehicle repair facility fairly straightforward.

Endurance Warranty Customer Reviews And Ratings

Endurance is also our top pick because of its record for excellent customer service, with a relatively low volume of customer complaints. While Endurance previously had a B+ rating with the BBB, the company currently has no score as it addresses complaints directed toward its advertising.

Over 2,700 customer reviews on the BBB website rate Endurance 3.7 stars out of 5.0. On Trustpilot, 76 percent of customer reviews are either four or five stars, giving the provider an average star rating of 3.7 out of 5.0.

Read more: Endurance warranty review

5. Toco: Cheap Comprehensive Coverage

Toco is an extended warranty company that can be a strong choice for coverage, especially for those wanting to avoid paying an expensive premium. We found that its coverage is comprehensive and warranty reviews from customers are generally positive.

Toco Warranty Cost

Overall, we found that Toco warranty plans cost between $68 and $100 per month, depending on the level of coverage you choose. The table below highlights quotes we received from Toco for several different warranty plans.

Toco Warranty PlanMonthly Cost EstimateTerm LengthDown Payment
Blue$68Unlimited time/200,000 milesFirst month
Yellow$72Unlimited time/150,000 milesFirst month
Orange$100Unlimited time/100,000 milesFirst month

Toco Warranty Coverage

Toco has four levels of extended auto warranty coverage ranging from exclusionary options to bumper-to-bumper protection. For the cheapest car warranties from Toco, consider the Green and Blue plans.

Toco Extended Warranty PlanCoverage Details
OrangeThis is Toco’s most comprehensive plan which covers vehicles up to 100,000 miles. It protects most vehicle systems and components with only a few exclusions.
YellowThis mid-tier plan covers vehicles with 100,000 to 150,000 miles on the odometer. It protects components and systems including the engine, transmission, brakes, steering, suspension, and high-tech electronics.
BlueCovering vehicles with 150,000 to 200,000 miles, the Blue plan protects essential parts like the engine, transmission, and fuel system.
GreenThis plan protects cars with 200,000 to 250,000 miles and covers basic components like the engine, transmission, and drive axle.

Toco Customer Reviews And Ratings

Toco receives excellent customer marks despite offering some of the cheapest car warranties. The provider gets 4.1 stars out of 5.0 on the BBB and has both accreditation and an A+ score. Even better, Toco holds a 4.5-star rating on Trustpilot with over 91 percent of reviewers offering it either four or five stars overall.

Read more: Toco warranty review

 


 

Low-Cost Extended Car Warranty Guide

Extended auto warranties – also known as vehicle service contracts – are optional protection plans that cover repairs and replacement parts for your car after a mechanical breakdown.

The sections below will provide you with more information about extended car warranties.

How To Get A Cheap Car Warranty

When shopping for extended vehicle protection plans, there are a few steps you can take to reduce the cost of coverage:

  1. Compare quotes from multiple providers. Most extended car warranty companies have online tools or other ways to contact customer representatives and get free quotes. Comparing quotes from several providers can give you a sense of coverage costs.
  2. Ask about discounts. Most providers offer savings opportunities with varying eligibility requirements. Even if you don’t see a discount listed on a company’s website, it never hurts to ask.
  3. Negotiate for a better deal. You can negotiate with car coverage providers for better rates, so don’t be afraid to haggle.
  4. Read the contract. Hidden fees and complicated deductible policies may be hidden deep inside your warranty contract. Read all of the fine print to make sure you know exactly what your warranty covers and to avoid scams.
  5. Purchase your warranty directly from a provider. Buying your coverage plan from a reputable extended car warranty company will save you money, as dealerships often mark up prices in order to make a higher commission.
  6. Purchase it soon. The longer you wait to buy extended car coverage, the more costly it  will likely get. Keep in mind that older cars with higher mileage are pricier to cover.

Factors That Affect Car Warranty Costs

Many providers don’t list their prices online because extended car warranty costs fluctuate due to a number of reasons. These factors include the following:

  • Specific warranty plan: You’ll pay more for higher levels of coverage than for basic plans such as powertrain warranties.
  • Vehicle age and mileage: Warranty coverage for old cars and high-mileage vehicles typically costs more than for new cars.
  • Vehicle make and model: Luxury, exotic, and rare vehicles are more expensive to cover under warranty. In some cases, providers require you to buy specialized coverage for luxury cars with high repair costs.

If you’re curious about how much customers like you have paid for an extended auto warranty, look at the results from our consumer extended warranty survey. We asked customers of both third-party and dealership extended warranties about their initial purchase prices.

Bar graph showing the results of our extended auto warranty consumer survey, revealing that most people paid an initial purchase price of $2,000 to $2,499.

Manufacturer’s Warranties Vs. Third-Party Providers

Your manufacturer likely offers extended warranty coverage, but you typically can’t buy them past a certain date – often the day your limited factory warranty expires.

We recommend considering independent warranty companies because they offer much more flexibility in coverage options, prices, and mileage limits. For instance, if you’re looking for a used car warranty for your old Honda or Toyota, there are plenty of third-party providers that offer coverage for vehicles up to 250,000 miles.

Types Of Extended Car Warranties

When deciding on the kind of coverage needed for your vehicle, you’ll come across two main types of extended warranties: exclusionary and inclusionary.

Exclusionary Car Warranty

Also referred to as a bumper-to-bumper warranty, an exclusionary car warranty covers the vast majority of components in your vehicle. This includes the engine, alternator, drive axle, transmission, electrical systems, and air conditioning.

Rather than a list of covered parts, these warranty contracts come with a list of exclusions, or parts that are not covered. Extended exclusionary warranties are usually the highest level of coverage a car warranty provider offers. However, keep in mind they’re also the most expensive, so explore other options if you want more specific protection for a better price.

Inclusionary Car Warranty

Sometimes called “stated-component warranties,” inclusionary car warranties provide a list of covered components in the contract. There are usually a few tiers of inclusionary coverage to choose from. Higher-tier inclusionary plans often have comprehensive coverage that’s not quite as extensive as an exclusionary plan. Lower-tier inclusionary contracts tend to resemble basic powertrain warranties.

In addition, some companies offer extended car warranty plans that specifically cover electrical components. These plans may be of interest if you’re a hybrid or electric car owner.

What’s Not Covered By An Extended Car Warranty?

Extended warranties generally don’t cover routine maintenance such as oil changes or tire rotations. Most warranties also exclude items like tires, belts, hoses, brake pads, and windshield wiper blades that are known to wear out, malfunction, or tear after continued use.

However, some providers offer warranties that include maintenance services, allowing you to pay upfront rather than at the shop. Another option is to purchase mechanical breakdown insurance from your car insurance company.

Added Coverage Perks

The best car warranty companies typically include a number of additional benefits with their service plans, such as:

  • 24-hour roadside assistance: This helps with battery jump-starts, flat tires, fuel delivery, and more.
  • Towing services: If your car is inoperable, it will be taken to the nearest authorized repair station.
  • Trip interruption coverage: Your meals and lodging will be reimbursed if you break down, typically when you’re 100 miles or more from home.
  • Rental car reimbursement: If you need an alternate car while yours is in the shop, your warranty contract can help to cover some of the costs.

 


 

Cheapest Car Warranty Companies: The Bottom Line

In this article, we highlighted some of our top picks for cheap auto warranties and their coverage plans, reviews, and perks. Each company we reviewed has an affordable selection of coverage options with various terms that can suit your specific needs. However, we recommend comparing quotes from multiple of the cheapest car warranty providers to get the best deal.

Cheap Auto Warranty: FAQ

Below are some frequently asked questions about the cheapest auto warranties:

Affordable Car Warranties: Our Review And Methodology

To determine our ratings for each cheap car warranty provider, we analyze strengths and weaknesses in five key areas. See below for a more detailed look at the criteria we consider.

How We Rated Cheap Car Warranties

To give you the most up-to-date information, we update our review standards several times per year. Our warranty research evaluates providers across the following categories:

Industry Standing

A warranty provider’s industry standing is an important factor we consider in our ratings. We look at a company’s BBB rating, how long it’s been in the industry, and if it’s been awarded for its warranty services.

Coverage

We consider a provider’s protection plans, what they cover, and the variety of options available to consumers when rating a company on coverage. We also take a close look at term and mileage limits, waiting periods for coverage, and extra perks like rental car reimbursement and roadside assistance.

Cost

We know you’re looking for an extended warranty that won’t break your bank. When rating providers on cost, we mystery shop, survey current warranty owners, comb through sample contracts, and compare total costs for various coverage levels. If a provider offers great coverage at an affordable price, we’ll score it highly.

Transparency

The standards that earn a company a high score in transparency are simple. If a provider readily offers detailed plan descriptions, sample contracts, and a money-back guarantee to customers, it will receive a high rating in this area.

Customer Service

You’ll likely appreciate great customer service when filing an extended warranty claim. We consider a provider’s responsiveness to customers, whether or not it offers a mobile app or online chat feature, and the ease with which you can get a quote. We also pore over thousands of customer reviews from customers like you when rating a provider in this area.

*Data accurate at time of publication.

View Plans For Our Most Affordable Provider – CarShield

Save up to $360 per year

×

Find the best [category]