Are Extended Warranties Worth It?

Tiny car with insurance documents

 

When shopping for a new or used BMW, the option of purchasing an extended warranty is likely to come up. But is an extended warranty worth the cost? Extended warranties can be an excellent investment for those wanting protection in order to maintain their vehicle for many years. Ultimately, it truly depends on your lifestyle and budget. Learn more about extended warranties, how they work, and what they cover with the financial team at BMW of Brooklyn below!

What is an Extended Warranty?

An extended warranty is an optional additional plan that provides additional coverage once your factory warranty has expired. Basically, an extended warranty is like an additional safety net that protects you when it comes to events such as emergency repairs or if your powertrain warranty has run out. Given that you may never know what to expect when driving down Staten Island roads, it might ultimately be in your best interest to invest in an extended warranty for the peace of mind that any repairs won’t break the bank! 

Extended Warranties for New & Used Vehicles near Manhattan

Extended warranties can apply to vehicles both new and used, but they work differently depending on the condition of the car. Here are some tips to consider when buying insurance on a new or used car near Queens:

Used Vehicles

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

  • How long you are planning on owning the vehicle. 
  • Having the vehicle inspected and estimate costs created for any vehicle issues. 

New Vehicles

When it comes to new vehicles, it’s a question of longevity. Consider:

  • Do you plan on swapping out your vehicle in the next 10 years? If so, extended warranty might not be necessary as vehicles are built more reliably than they were in the past
  • If you’re planning on keeping your vehicle for more than 10 years, then an extended warranty could be a good long-term investment. 
  • It might be worth checking to see what insurance coverage is already included with your automobile.

Discuss All of Your Financing Options at BMW of Brooklyn

If you’re still unsure if you should choose an extended warranty, let BMW of Brooklyn help you with any financial inquiries! Contact us or apply for financing with BMW of Brooklyn dealership near Queens for more advice on whether extended warranty is right for you.

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