When purchasing a pre-owned vehicle, concern for what can go wrong is the normal reaction. What if something goes wrong? That’s why it is important to have a warrant, what if something goes wrong? What if your transmission takes a dive. No joke. That could be thousands of dollars for that setback.
There is good news. The expected lifespan of today’s vehicle when maintained, could and should last 15 years and as much as 300,000 miles, depending on the manufacturer and maintenance. The manufacturer’s warranties will never cover that time, as it would become the point of diminishing return. The depreciation formulas for cars 3 years and older, are more than enough incentive to purchase a pre-owned vehicle. The depreciation can hit 50% in 5 years. That’s why pre-owned vehicles have taken the lead in sales across the country. Even with the manufacturer’s offers on new vehicles during the pandemic, the pre-owned formulas can’t be beaten. Purchasing a 5-year-old vehicle that has a lifespan of 15 years presents a tremendous opportunity. Take a $30,000 car that’s five years young purchased for $15,000, and paid over four or five years. The only thing that could upset that apple cart is a major repair. Purchasing a vehicle without an extended car warranty (officially referred to as a vehicle protection plan), is foolhardy. Let’s look at some of the manufacturer’s promoted lifespans.
Volkswagen should go 300,000 miles but only provides up to 6 years and 72,000 miles; Cadillac offers 4 year/50,000 miles; Hyundai offers 3year/36,000 miles. It appears that the manufacturer level of excellence and life expectancy of the vehicle is a direct correlation to the offer on new vehicle purchases.
Putting a vehicle protection plan into play with the purchase of a $15,000 vehicle financed at under $300 a month, can more than accommodate a basic plan that will protect against the unexpected. Originally, that vehicle would have been $30,000.
WarranTchimp.com is the portal site that connects the consumer directly to the provider, eliminating the cost of the middleman. It is a simple process, where the consumer logs on and answers a few questions. It’s important to have the VIN number and mileage handy, as the site will reply back with the recommended basic plan. Then it allows you to finance the vehicle protection plan for up to 18 months on a 3 year or longer program without paying interest. That’s why consumers separate the warranty from the car purchased, as if they put the warranty into the car’s financing, the interest will have to also be included. It is wiser to purchase a pre-owned vehicle then log onto the computer and see what WarranTchimp will share. When compared to other online providers or dealers, the site offers a far lower price in every instance. The plans are all pretty much the same, the provider may be better, and the price is always lower. That’s guaranteed.
Take the time to look at the depreciation, the financing of and warranty of 5 years, then make the decision on the vehicle. The warranty will go with the vehicle should it be sold, which creates additional value in a private sale or trade-in at a dealer. WarranTchimp allows the consumer to look at various terms and plans. Check out the number of years to be covered, the mileage and the deductible, and WarranTchimp will continue to provide the solutions. It’s as easy as booking an airline ticket online. Enjoy your car shopping and enjoy knowing that WarranTchimp is there to provide the provider and plan that’s right for your vehicle.