Before we delve into the details about Gold Standard Automotive Network’s extended warranties, it’s important to address some points that commonly cause confusion. Drivers sometimes expect their auto insurance policy to cover a problem and are disappointed when it doesn’t, or they don’t understand why buying an extended warranty might be a good idea.
Car insurance covers damage if you’re involved in an accident, which may include a collision with a vehicle or another object. Insurance may also cover damage from hail, vandalism, animals, and other causes, depending on the type of coverage you have.
A factory warranty, or manufacturer’s warranty, is offered by the manufacturer and is included in a vehicle’s sale price. It includes a list of covered repairs and exclusions. Coverage is also limited in terms of the number of years or miles. After reaching one of those milestones, the warranty expires.
If you bought your car from a dealership when it was new, it came with a manufacturer’s warranty. If you purchased a used car that was fairly new and had low mileage, it may have been sold with whatever part of the original manufacturer’s warranty was remaining.
An extended warranty will pay for mechanical repairs if your vehicle breaks down after the original manufacturer’s warranty has expired. It can be purchased from a car dealership or from a third party for a separate fee.
These vehicle service contracts can sometimes only be purchased when the original manufacturer’s warranty is still in effect. However, if you’re buying from a third party, there’s a lot more flexibility, and you can buy almost any time. Purchasing an extended warranty early can result in a lower quote than buying one later.
The systems and components covered under an extended warranty depend on the company and the plan chosen. Most providers offer several plans, so customers can choose the one that best matches their needs and budget. Extended warranties generally don’t cover routine maintenance, although those offered by Gold Standard Automotive Network do.