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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.
It's tempting to cave in at the dealership and add that extra $10 to your monthly car payment for an extended warranty. But experts advise you to wait.
Extended auto warranties often offer other perks not included in a general factory warranty, such as trip interruption insurance and roadside assistance. Auto warranties generally do not cover vandalism or theft, dings or dents, road salt damage, environmental or natural disaster-related damage, car wash damage, or normal routine maintenance.
In 2004, CARCHEX added a second consumer assurance product to its business by offering vehicle service contracts (VSCs), also known as extended warranties. The company expanded the service in 2007 as a warranty remarketing program conducted on behalf of dealership groups such as MileOne. [ 2 ]
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Lexus Link, launched in October 2000, is a subscription-based safety and security service from Lexus. It has been offered as a factory-installed option, available on certain Lexus models (LX, GX, LS, and GS), offering call-center-based telematics services to owners with equipped vehicles in the United States and Canada.
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