How much should an extended warranty cost?

During our last post we answered the question what is the best warranty for a used car? Albeit our answer to the question created another question which was how much should a a used car warranty really cost? Or rather how much should you spend on a used car warranty.

If you’re looking for comprehensive protection on a late model vehicle that covers the majority of electrical and mechanical components some providers have been known to charge in excess of £700.00. Naturally they offer a range of payment options designed to disguise the total amount payable but we believe this is excessive given that our internal statistics shown the average cost of repairs for works undertaken by the warranty is between £450.00 – £600.00.

Then there’s the fact that nobody ever really wants to make a claim under their warranty. This essentially means you could be paying over £700 for cover that you hope never to use.

Therefore; for the majority of customers; we believe that a “middle way” approach is more suitable. With a Warranties 2000 the coverage remains comprehensive and is designed to cover the majority of electrical and mechanical components along with assistance towards labour costs however we remain much more competitive at the price point. Sound interesting? Get in touch to see how we can help you.