Yes, you can get a warranty on a used car after purchasing the vehicle if you get the warranty from a third-party extended warranty company. Extended warranty companies like Carchex, Toco Warranty, and autopom! offer used car warranties for previously purchased cars that meet age and mileage eligibility requirements. On the other hand, most dealerships only sell used car warranties on the day you buy the vehicle.
Used car warranties from third-party companies are a way to get coverage if your vehicle’s original factory warranty has expired. However, it’s important to note that used car warranties are not worth their cost for most drivers, especially when compared to alternatives like mechanical breakdown insurance.
No, CarShield is not a scam or a rip-off, but it is a below-average company. CarShield is a legitimate company that has been providing vehicle service contracts for over 16 years and has earned a 4/5 rating from the consumer review on WalletHub, yet it has a history of complaints reported to the Better Business Bureau.… read full answer
Why CarShield Isn’t a Rip-Off
5 levels of protection plans, plus a motorcycle and ATV coverage plan and a roadside assistance program
Prices starting at $99 per month
Sample policies on their website so potential customers know what is included before they buy
Great reviews from customers on TrustPilot and WalletHub
Why CarShield May Be Right For You
CarShield offers vehicle service contracts – better known as extended warranties – that are designed to cover car repair costs stemming from mechanical issues. They offer several different plans, with prices starting at $99 per month. In contrast, many mechanical issues can cost thousands to repair. For example, transmission repairs can range from $300 to over $1,500.
Most other extended warranties require long-term commitments. For example, Carchex contracts range from 12 months to 84 months. So, if you are looking for short-term coverage, the monthly CarShield option may be right for you. Just make sure you understand everything that their plan does and does not cover before making a decision.
Alternatives to CarShield
Considering the numerous complaints against them through the BBB, you may find that a better option is putting the money you would have spent on an extended warranty into a savings account every month. Then, if you need to pay for a repair, you can use the money you have stored away.
Another alternative is to consider buying mechanical breakdown insurance (MBI) from a car insurance company. MBI covers the major systems in your car, from engines to air conditioning, and only costs about $100 a year. However, not all insurance companies offer MBI, so ask your insurer if it is available to you.
CarShield costs $99 per month and up, though prices vary by state, driver, and specific vehicle. CarShield sells vehicle service plans, which are similar to extended warranties and will cover the cost of repairs to the car’s systems and mechanical parts.
Key Things to Know About CarShield Plans
CarShield plans cover your vehicle’s engine, transmission, transfer case, drive axle, water pump.… read full answer
Six different plans are available from CarShield, giving drivers options in terms of coverage and cost.
To qualify for a CarShield plan, cars must fulfill certain eligibility requirements, though the company does not disclose the exact requirements. Eligibility can also vary by plan.
Specific details may vary based on which CarShield plan drivers purchase, but this list provides a good example of CarShield coverage.
CarShield vs. Extended Warranties From Major Insurers
Although exact coverage may differ for the providers above, all of them cover the main parts or systems. These include the engine, transmission, brakes, suspension, and steering.
It’s also worth noting that mechanical breakdown insurance from a car insurance company is often a cheaper alternative to a third-party vehicle service plan or extended warranty. For more information, check out WalletHub’s guides to mechanical breakdown insurance and extended warranties.
Yes, AAA offers a type of extended warranty. The AAA extended warranty program is called the AAA Vehicle Protection Plan, and it covers the cost of repairs to the engine, transmission, suspension, steering, and brakes, among other things.
The cost of AAA's Vehicle Protection Plan varies depending on the vehicle, but it averages about around $2,400 for a 4 year plan, though vehicles with expensive parts can cost twice that.… read full answer
In general, extended warranties are meant to keep drivers from paying out of pocket for sudden repairs, since mechanical problems are not covered by other types of auto insurance.
What AAA Extended Car Warranties Cover
A/C & Heating
Coverage details can vary depending on which AAA plan you choose. Additionally, since the AAA Vehicle Protection Plan is designed to supplement the original manufacturer’s warranty, cars must meet certain requirements to qualify.
AAA Extended Warranty Eligibility Requirements
The vehicle is less than 15 years old
The vehicle has less than 150,000 miles
Coverage and eligibility details can vary by state. It’s also worth noting that the AAA Vehicle Protection Plan is technically a vehicle service plan, which provides the same coverage as an extended warranty. However, vehicle service plans are offered by car insurance companies, whereas extended warranties are generally sold by dealerships or third-party companies. For more information, check out WalletHub’s guide to extended car warranties.
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