Cars are going to age with time, and along with that dreaded moment, the warranty on most transmissions will expire. Replacing a transmission can be expensive, and can start from $1500 and up!
Many car owners are tempted to buy warranties to cover all the possible contingencies. However, you should be aware of warranties that are worthless.
1. Be Cautious of a Strange Offer
First, beware of the person that calls you offering a transmission warranty on for your car. If they ask for your credit card or bank account number, this is most likely a ploy to steal your identity.
2. Don't Give in to High Pressure Tactics
There are other tactics that high-pressure salesman will try and pull; such as telling the consumer that a warranty has to be bought on the spot-otherwise it won't be available tomorrow. This tactic applies to car dealerships as well.
When you get the warranty, make sure you examine it very carefully. Read the fine print! It may take a little longer to digest, but it will save you a lot of grief and money in the long run.
3. Don't Trust Everything that comes in the Mail
If you're getting postcards in the mail telling you the vehicle's warranty is about to expire, be wary! Be on the lookout for the limited-time offer as well. This is but one more ploy to get you to part with your hard-earned cash.
4. Check out the Validity of a Company
If you're on the internet, and looking at a site that offers "auction" warranties, proceed with caution. Reputable companies don't need to use auction sites to advertise their products.
Be advised to call a few transmission repair shops to find out the cost of repairing your vehicle's transmission under any warranty you may be considering. It pays to be well informed!
5. Get full Warranty Coverage
It's a wise move to make sure that your car's warranty covers both wear and tear, and mechanical breakdown. Anything less; and you may have a transmission repair warranty that will come up short when you really need it the most.
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