Not every provider has built a reputation like Cars Protection Plus. Watch out for the following red flags when deciding whether or not to agree to purchase your next vehicle service contract.
- Urgent Notices by Mail
Be skeptical of mailings that read more like a threat than an invitation to do business. Some aftermarket warranties or service contracts are marketed using scare tactics, sending warnings that you will soon lose your warranty and be faced with huge repair bills. Steer clear of this negative practice. A genuine service contract offering should focus on the benefits of the coverage instead of frightening consumers into a bad decision.
- Pushy Sales Techniques
When a representative won’t take no for an answer it is a sign that something isn’t right. Reputable companies want to earn your trust and your business, not bully you into submission. Don’t hesitate to hang up the phone if a sales caller becomes aggressive. It is normal for a company to have limited enrollment periods, but you shouldn’t feel pressured if you aren’t sure or choose to decline an offer.
- Vague or Rushed Explanation During Sign Up
Legitimate vehicle service contracts are detailed and specific. A company trying to sell you a contract that will assist financially when your vehicle breaks down should provide you with an explanation of the coverage. Ask for it in writing!
- Too Good to be True
The saying, “You get what you pay for” is generally true. Be wary of anyone pitching you bumper to bumper warranty coverage at an extremely low price. Vehicle service contracts are a good investment for peace of mind, but generally there are limitations on the types of repairs that are offered for assistance. Gather more information before deciding to purchase something that seems too good to be true.
- Little Track Record or Uninsured
Fly by night warranty companies come and go, sometimes leaving their customers without coverage when they go out of business. Select a company with a long track record of service that is fully insured. For example Cars Protection Plus has been helping customers for nearly 20 years and is proudly insured. Choose a company that has taken precautions to protect your investment.
The average brand new vehicle loses about half of its value during the first 3 years of ownership. When selecting your next vehicle, the choice to buy a used car instead of a new one can save you thousands of dollars in depreciation. One major sticking point preventing consumers from making the leap from buying new to used is the Manufacturer’s Warranty. Commonly referred to as a factory or “Bumper to Bumper” warranty; these warranties last about 3-5 years, are included in the cost of the vehicle and cover the vehicle’s first 30,000 to 50,000 miles. Choosing instead to purchase a used vehicle with a vehicle service contract can provide the reassurance needed to make this smart financial decision.