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Each extended warranty is different, but generally, extended warranties have a time limit or mileage cap. For instance, some warranties last up to three years or 36,000 miles, whichever comes first.
Seeing as the purpose of buying an extended warranty is to get an appliance fixed or replaced years in the future, when dollars are worth less due to inflation, you probably wind up losing money ...
The scope and duration of automotive warranties can vary significantly, but they generally cover areas such as: bumper-to-bumper warranty, powertrain warranty, corrosion warranty, emissions warranty and others. [2] There is also an "extended car Warranty" also known as a "service contract" which is purchased separately.
An extended warranty, sometimes called a service agreement, a service contract, or a maintenance agreement, is a prolonged warranty offered to consumers in addition to the standard warranty on new items. The extended warranty may be offered by the warranty administrator, the retailer or the manufacturer.
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According to Motor1.com, extended car warranties range in price from $2,000 to $5,000, with the average cost around $3,000. Factors such as your location and the specific vehicle will determine ...
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