Why should you buy a warranty on a used vehicle?
Let’s suppose you skipped the new car market because you don’t want to watch up to 30% of the vehicle price magically vaporize as you drive off the lot? In that case, why would you want to purchase a used vehicle warranty that will cost extra?
There are actually many smart reasons to invest in protection for your vehicle, and saving money is one of the biggest reasons!
There isn’t a single new car company that doesn’t offer a factory warranty. Why? Because they know cars can break down! If cars didn’t break down, manufacturers wouldn’t need to offer warranties.
Some manufacturers are going as far as 10-year powertrain offerings in Canada. We feel at Galaxy Motors if there isn’t a new car that doesn’t come with a warranty, then we shouldn’t really consider a used car without one either. That is as long as the price to extend doesn’t exceed the reasonable value you expect it to provide.
Strength in numbers
The typical new car today has more than 10,000 moving parts and over 30,000 specific parts. So even with a failure rate of only 1%, that means 100+ parts will fail in the lifetime of that product. When one of these parts fails and the dealer tells you it’s a $2000 job to repair. Do you know any better? The warranty company does. They know exactly how much every repair will take and should cost. This is a built-in safety net on ensuring the repair is done for the right price.
A mechanic almost never pays full price for parts. Good mechanics know when a refurbished part is a much better option than new, they have the experience to know who’s got good prices, and they have the clout to demand lower prices from suppliers. What’s more, a used car warranty company isn’t going to work with an automotive repair shop that’s charging them full retail prices for parts or service. In other words, a warranty provider is just like health insurance provider, where they pay much less than you or I would.
Unless you can make the replacement parts, and plan to do the repairs on your own, the used car warranty providers have a big advantage right away because they don’t pay the same prices.
Beat the Odds
Honestly, if you rely on your vehicle for your job, the peace of mind knowing you’re not stuck with random repair costs is very valuable indeed.
Approximately 85% of Canadian vehicle owners finance their pre-owned vehicle purchase. At Galaxy Motors we feel insuring that purchase and adding it to the monthly payment is better than paying to own a vehicle and fix it.
Get Lenders Working For You!
Due to our size & number of locations, our warranty providers work with us to offer many competitive price packages, terms of coverage, and mileage options. This means we can cover you for as little as 10,000kms per year of driving and up!
No longer are you forced to buy your warranty at a 20,000kms per year interval. If you live in Fernwood and only drive 8,000kms per year, we could have you covered with our most popular 4 year 40,000kms warranty option. If you live in Courtenay, and travel to Nanaimo for work every day, we have you covered with our 3-year 80,000km option.
On some warranty plans we even offer zero-interest finance options, so if you are a cash buyer who can’t justify pre-paying the cost of the warranty, this option is perfect for you. Of course, some restrictions apply, so it’s best to talk with our Finance and insurance department, but the good news is we can help you enjoy your vehicle stress free.
Do you have questions about your warranty? Would you like to discuss purchasing or extending your car’s warranty? email@example.com