![]() Here are some common factors that affect the cost of car warranties: ![]() There is no additional cost for these types of car warranties. On the other hand, factory warranties come with your new vehicle and may even come with a used car if the original factory warranty period is still active. Most vehicle warranties come with $100 deductibles, but many third-party providers offer multiple deductible options ranging from $0 to $500. The price you pay for a car warranty depends on several factors, however, including whether you choose to purchase extended coverage from a third party or a manufacturer. Vehicle service contracts are for unexpected repairs and mechanical defects, while auto insurance covers damage from collisions, extreme weather and vandalism.īased on our research, we found that the average cost of an extended warranty is $3,026. It’s important to note that while warranties share some similarities with car insurance policies in terms of how they work, they offer different types of coverage. Warranties don’t cover normal wear and tear on a vehicle or routine maintenance. A powertrain warranty covers the most essential components that make your vehicle move, such as the engine, drive systems and transmission. These warranty plans are considered inclusionary coverage because your contract will specify which parts and systems are covered. Powertrain warranties are the most basic level of coverage available. These warranties are considered exclusionary plans because they only list out the parts that are excluded rather than specifically listing what’s covered. These levels range from a powertrain warranty, which provides basic coverage for your vehicle’s most essential systems, to a bumper-to-bumper warranty, the most comprehensive coverage option.īumper-to-bumper coverage is the most comprehensive coverage level and offers protection for almost all vehicle components. Car warranties come in several coverage levels, meaning the number of parts that are covered under warranty will vary depending on the plan you have.
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