by Susan Paige
When you buy a car, you don’t give much thought to having a plan in place if it gets damaged. But accidents can and do happen, so it’s essential to have a plan in place to protect yourself and your investment. A vehicle protection plan can provide peace of mind in the event of an accident, along with several other value-added benefits. Keep reading to learn more about why you should consider purchasing one for your next car.
What is a Vehicle Protection Plan?
A vehicle protection plan—also known as an extended car warranty—is meant to help protect your investment. You can purchase one before or after buying the car, but it’s generally considered a smart move. A vehicle protection plan is meant to safeguard your car’s components from failure and unexpected repairs. Purchasing an extended warranty or an auto protection plan from the best extended car warranty companies can help you save money on repairs and keep you safe on the road for years to come.
The specifics will vary from one company to the next. A vehicle protection plan typically provides coverage for your engine and transmission. Some may also cover airbags, sensors, paintwork, and tires or rims. What is covered depends on the company you opt to go with and what is stated in your contract.
Why Should You Get a Vehicle Protection Plan?
Vehicle protection plans can provide many benefits that you may not have considered. Instead of just seeing it as another expense, think about the value-added features and how they’ll benefit you:
1. Peace of Mind
Do you worry about unexpected mechanical issues? Does your car make weird noises or behave strangely while driving? Car components have a specific lifespan, and the more you use your vehicle, the more likely it is for something to go wrong. A vehicle protection plan can protect you from high repair costs after a car component malfunctions or from having to buy a new car due to unforeseen mechanical issues. You’ll have peace of mind knowing that you won’t be forking over a lot of money in the event of an unexpected breakdown.
Have you ever needed a car repair but couldn’t find a mechanic or repair shop? This can be a stressful experience, especially if you’re left stranded in the middle of nowhere. With a vehicle protection plan, you may have access to 24-hour assistance, which means you’re not left on your own if something goes wrong. The emergency road services offered as part of a vehicle protection plan are intended to provide you with a speedy, convenient solution when you have unexpected car problems.
Yes, a vehicle protection plan is another expense. But if you plan on keeping your car for a long time or trading it in before the vehicle protection plan expires, then it may be well worth the money. People who buy car protection plans tend to have fewer repair costs than those who don’t, which means you’ll potentially save money over time.
4. Maximize the Resale Value of Your Car
If you’re looking to sell your car, you need to understand the value of a vehicle protection plan. If you purchased one when you originally bought the car, then the resale value will be higher than if you didn’t have one in place at all. A used car with a protection plan on its side will be worth more money on Craigslist or at a dealership than one without. So if you’re looking to sell your vehicle, then having it protected is never a bad idea.
5. Tailored Coverage
Not all vehicle protection plans are created equal. Some offer more extensive coverage than others. So make sure to do your homework and compare different options before making a decision. You can also contact several companies directly to see if they can provide you with tailored coverage that suits your needs.
The Takeaway: Explore the Benefits of a Vehicle Protection Plan
A vehicle protection plan can be a valuable tool for your car. It’ll help you save money over time on unexpected repairs or replacements. Plus, it can also have a positive effect on your resale value.