Whether or not a warranty is included is a major consideration when shopping for a pre-owned SUV. Buyers can rest easy knowing they are covered financially in case any problems arise with their purchase thanks to a warranty. Should you buy an extended warranty on a used car if it doesn’t have any?
Buying a used SUV without a warranty could have its benefits. They typically sell for less money than comparable vehicles with warranties, giving buyers an advantage right off the bat. In the end, your budget, risk tolerance, and willingness to bear potential repair costs will determine whether or not you should purchase a used SUV without a warranty.
But you should be aware of the dangers involved in buying a pre-owned SUV without a warranty. Without a warranty, you are responsible for all costs associated with service and upkeep. If the car has serious problems or needs expensive repairs, this can be a serious financial setback. So, it’s important to take a close look at your
A warranty from the manufacturer should come with the used car, right?
A portion of the factory warranty on some pre-owned vehicles may still be in effect. It’s important to remember, though, that warranties often come with restrictions and may not pay for every possible repair. Before making a purchase, it is important to study the warranty details carefully.
Furthermore, the duration of the warranty may range anywhere from 5 to 8 years, and the coverage of the warranty may be broken down into various parts, each of which may have its own duration and limitations.
Not only is normal wear and tear not covered by a warranty, but typically only major components like the engine and transmission are. In addition, some warranties stipulate that the vehicle must be serviced exclusively at franchised dealerships or approved repair facilities.
Because of this, before making a purchase, consumers should read the warranty details carefully.
The benefits of purchasing a pre-owned SUV without a warranty
In some cases, buying a used car without a warranty can be the best option, both financially and practically. Several factors make this a viable choice in British Columbia:
- Avoiding depreciation and lowering the initial cost of the purchase is a win-win. When you drive off the lot in a brand-new car, you immediately lose about 20% of its value, and another 10% by the end of the first year. This is unnecessary for a used car, so you can save money and time by purchasing one instead.
- A vehicle history report can help you determine if a vehicle is dependable and well-kept. A vehicle history report detailing the car’s previous owners, accidents, repairs, and mileage is standard equipment for cars across Canada and the US. You can have a mechanic look it over for you, or you can do it yourself.
- There are many different options available other than SUVs, each with its own set of benefits. You can find a used sedan, coupe, or truck to suit your needs, whether you’re shopping for the family or for work. Features like manual transmission, CD players, and sunroofs are becoming increasingly rare in brand-new vehicles, but they can still be found in some older models.
- There are still available financing and protection choices. Used-car financing is widely available, even for vehicles without a warranty, from dealerships and financial institutions.
It’s not as dangerous as it sounds to buy a used car in British Columbia without a warranty. It’s a good way to save money while still driving away in a reliable vehicle. Buyers can lessen the risks of purchasing a pre-owned vehicle without a warranty by doing their due diligence in researching the vehicle’s history and obtaining a comprehensive inspection.
Things you should think about before buying a car without a warranty
There are potential downsides to buying a pre-owned SUV in BC without a warranty, despite the apparent savings. Before making a choice, think about the following:
Without a warranty, you’ll have to pay out of pocket for any necessary repairs or maintenance on a used SUV.
A warranty can save you a lot of time and money if your SUV breaks down. However, if you don’t have a warranty, you won’t be covered by the manufacturer’s or dealer’s promise to make any necessary repairs or provide replacements at no cost to you.
Carfax Vehicle History
Learn about any accidents, damage, repairs, recalls, odometer readings, and previous owners by consulting the SUV’s Carfax vehicle history report. You can avoid buying a lemon or a stolen car by first obtaining a vehicle history report.
It’s important to remember that Carfax vehicle history reports are not always available for older or imported vehicles. It’s risky to purchase a pre-owned SUV without first checking the vehicle history report for any red flags that might indicate previous damage or other potential issues.
Inspection and test drive
To gauge the SUV’s health and functionality, a test drive and inspection is important. Any safety or resale value-compromising mechanical, electrical, or cosmetic issues can be uncovered in the course of a thorough inspection by a professional mechanic.
The SUV’s acceleration, braking, steering, and overall sound can all be evaluated during a test drive. On the other hand, not all sellers or dealers will let you take the car for a spin before you buy it. You should never purchase a pre-owned SUV without first conducting a thorough inspection and test drive.
Should you buy an extended warranty?
An extended warranty, also called a service contract or service agreement, can give you peace of mind and shield you from unforeseen repair bills. to help offset the expense of repairs after the initial manufacturer’s warranty has expired. If you’re considering purchasing an extended warranty for a used vehicle without any remaining manufacturer’s warranty, It is important to carefully weigh the pros and cons.
The peace of mind and financial security offered by lengthy warranties can be invaluable in the face of unforeseen maintenance needs. However, they can be pricey and may not pay for all necessary repairs in every case.
Also, the availability of an extended warranty from a third-party provider depends on the model year you own. If the original warranty on the used car is still in effect, you can frequently purchase an extended warranty from the manufacturer.
When buying a pre-owned vehicle that has been advertised as coming with an extended warranty, it’s important to verify with the original manufacturer that the coverage will transfer to the new owner. There are some warranties that might not let you transfer ownership, which means you might not be able to use the warranty’s benefits.
Even if you buy a used car with some warranty coverage still intact, that coverage may eventually lapse. When your factory warranty expires, you’ll have to pay for any necessary repairs to your vehicle out of pocket. Therefore, some motorists opt to purchase a separate product known as an extended warranty, either from your dealership or a separate company.
Buying a pre-owned SUV in British Columbia without a warranty is a big decision that should not be made lightly. While this could save you money in the short term, it could end up costing you more than a more expensive vehicle in the long run. Know your options and the risks involved before purchasing a used SUV in BC without a warranty.