Are Extended Warranties Worth It?

Are you shopping for a brand-new Cadillac? Is a dependable yet pre-owned Cadillac a better fit for your Hamburg commute? Regardless of your exact preference, you’ll more than likely have to decide if extended warranties are worth it on an auto loan. Wondering to yourself, “Are extended warranties worth it if I’m leasing a car?” Find out everything you need to know about Cadillac warranties, how extended warranties work, and what they cover with the experts in our Robert Basil Cadillac Finance Center below!

What Does Extended Warranty Mean?

An extended warranty is an additional plan you can pay for when you’re buying or leasing a new or used Cadillac. This type of warranty offers additional maintenance coverage once your factory warranty expires. An extended warranty acts as additional security in the event that your primary powertrain warranty ends, and you’re in need of major repairs. An extended warranty will help cover the cost of maintenance. 

Are Extended Warranties Worth It If I’m Leasing a Car?

Are you planning to keep or lease your car for less than the length of your factory coverage? Then you won’t need an extended warranty. Many mechanical malfunctions occur in the fifth or sixth year of car ownership, so the costs of an extended warranty are more than likely not justified.

Extended Warranties for New & Used Vehicles

So, are extended warranties worth it on an auto loan? That depends on whether you’re investing in a new or used Cadillac. Regardless of which vehicle category you opt for, you’ll want to take the following factors into consideration for both:

Extended Warranties for New Vehicles

When it comes to deciding whether you should get an extended warranty for a new vehicle, you’ll want to consider a few factors, such as:

• It’s also worth checking to see what insurance coverage is included with your new vehicle purchase. 
• If you’re planning on keeping your vehicle for more than 10 years then an extended warranty can definitely be worth the investment. 
• Do you plan on swapping out your vehicle in the next 10 years? If so, then you may not need one, as vehicles are built to be more reliable than they were in the past. 

Extended Warranties for Used Vehicles

When it comes to used vehicles and extended warranties, it’s all a question of reliability. Consider: 

• Decide how long you plan on keeping the vehicle. 
• Having the vehicle inspected, and an estimate created for any vehicle issues. 

Get Financing Advice at Robert Basil Cadillac Today

Are you still unsure whether you should get an extended warranty for your Cadillac vehicle? We offer expert car buying tips and information here at Robert Basil Cadillac! Just reach out to us online whenever you’re ready for further assistance!