Used Car Warranty Topics Covered in This Article

• Should you Buy an Extended Warranty on a Used Car?
• Who Has The Best Extended Car Warranty Solution?
• Can You Buy an Extended Warranty on a Used Car?
• What is an Extended Warranty on a Used Car?
• What Does an Extended Warranty Cover on a Used Car?
• Do You Need a Warranty for a Used Car?
• What does a used car warranty cost?
• How Do I By a Warranty for Used Car?
• Where to buy an Extended Warranty for a Used Car?
• Are Used car warranties worth it?
• When Does an Extended Warranty Start on a Used Car?
• When Should I buy an Extended Warranty?

Should You Buy an Extended Warranty on a Used Car?

Can you buy an extended warranty on a used car? Should you? Why would you? It is all a bit confusing. What does an extended warranty cover? We realize there are many questions and that warranties of all kinds can be frustrating to understand. Let’s review the important items, the strong factors and things you need to know before buying an extended warranty solution for your used car.

For many, an extended warranty can provide peace of mind and comfort knowing that if an unexpected breakdown rears its ugly head, that it will be covered under warranty. Let’s take a look at what that means.

There are many choices to consider when purchasing a used vehicle. What is the difference between Original Equipment Manufacturers Warranty (OEM), Extended Car Warranties known as Vehicle Service Contracts (VSC), and Mechanical Breakdown Insurance (MBI). Most of the coverage options agree to pay for unexpected repairs but they are all a bit different in nature.

Buyers will almost always be offered an extended warranty of some kind when purchasing a used car from a dealership. Should you consider a warranty? Let’s take a look into the options and benefits and maybe we can help you come to a decision.

PRO TIP: Don’t buy from a company that does not have transparent pricing. You may never know if you are getting a great deal or if you are being overcharged.

At olive.com_®, we give you pricing for 9 different coverage options-all online-with no requirement to talk to anyone. And NO ROBOCALLS!

If you are considering buying a used car that has under 140,000 miles and is a 2012 model or newer, get a free quote for one of our "extended car warranty solutions".

100% Online, 9 Coverage Options and No Robocalls!

 

What is an Extended Warranty on a Used Car?

An extended warranty for a used car is technically called a MBI or VSC, as previously mentioned. An extended warranty may be sold at the dealership when buying a car or post purchase as an aftermarket offering. Extended warranties will cost additional to the vehicle and when purchased at the dealership, often are asked to be paid up front or financed with your vehicle. The extended warranty is additional to the Original Equipment Manufacturers (OEM) Warranty. Each make and model offer different OEM coverage periods. They are put in place to cover defects in materials and workmanship from the factory. OEM will expire eventually so make sure to understand the parameters of the OEM so to not be without coverage.

Like all warranties, whether you are covered by an OEM or an extended warranty, there are terms and conditions that spell out items covered and those excluded. Most extended warranties are offered for a set amount of years and usually applies to parts and labor. Always review the conditions and claim information so when needed it will be easy to file a claim and get your vehicle back on the road.

What is Mechanical Breakdown Insurance (MBI)

MBI is a regulated insurance product. It, like the other plans, covers major failures that can occur during the ownership of your vehicle. MBI policies have a set of terms and conditions that you will want to review like the other plans mentioned above. MBI policies are usually offered by a third-party aftermarket for your new or used vehicle. Important note: Due to the nature of MBI and it only being offered through an insurance company, it is regulated by the insurance industry for standards and claims.

Am I Covered by my Normal Car Insurance?

None of the above plans or policies cover damage caused by a driver or repair damage from an accident. Those repairs are covered by basic car insurance. You will need to keep insurance coverage in case of an accident. Extended warranties also do not cover wear and tear. Those services are covered under your routine maintenance plans.

Having an extended warranty or MBI means you will not have to unexpectedly shell out hundreds or thousands of dollars for repairs that creep up from time to time. Big repair bills can happen at the worst times, and extended warranties and MBI can protect against those.

What Does an Extended Warranty Cover on a Used Car?

Whether you have a used car or whether your Original Manufacturer’s Warranty is expired, an extended warranty could be a good idea. One that the sooner you act the better. Whether it is bad brakes, transmission issues or electrical system or any other major vehicle system malfunctions, extended warranties will cover the repairs and labor cost to get your car fixed. Most extended warranties base pricing off of the year, make and mileage of the vehicle. As your vehicle gets older and the mileage increases there are some warranties that cost more and cover less making it harder to qualify for coverage.

Should you consider a warranty? Let’s take a moment to review the options and benefits for covering your vehicle against breakdowns and unexpected repairs.

Make sure to review the plans, deductibles and items covered when researching options. The plans usually offer different coverage levels and are designed to fit within your personal budget.
In general, below is an example of items covered under extended warranties.

Steering System
Electrical Components
Engine Assembly
Drivetrain
Transmission
Exhaust Systems
Alternators, Manifolds, Pumps
Heating and Cooling Assembly

Do You Need a Warranty for a Used Car?

No matter how well built your make and model is, unexpected repairs are bound to arise. For many, their vehicle is their lifeline and their only mode of transportation. If you buy a used car, truck, or SUV you might have payments to still pay but when the OEM runs out, no warranty. Extended warranties have become more critical as people decide to keep their vehicles longer. The ideal is to pick up an extended warranty once your OEM expires. This will give you constant coverage in case a repair is needed.

As with any plan or policy of this type, you may never use the coverage but certainly when and if you do have an unexpected breakdown, it can save you thousands of dollars per repair. Peace of mind is worth paying for if you can’t afford for your vehicle to be down for the count. If you can afford to cover breakdowns when they arise, it may be easier for you to self-insure by creating a savings account for repairs when needed. But as we all know, some repairs can cost hundreds and some can cost thousands. The goal is to protect yourself, as best as possible, for the unexpected.

Based on the above topics reviewed, the decision should come down to these primary questions:

• Does the used vehicle purchased have a remaining OEM warranty?
• What is the repairability of your used make and model?
• What are your individual driving habits and how will the impact your vehicle?
• What are your personal budgeting habits and can you afford repairs if needed?

As with any plan or policy of this type, you may never use the coverage but certainly when and if you do have an unexpected breakdown, it can save you thousands of dollars per repair. Only you can balance that decision.

Extended warranties and MBI’s are extra security and peace of mind to cover you when a costly repair is needed. Most vehicles tend to become less reliable over time, so an extended warranty might be worth considering if you plan to keep your vehicle after the OEM runs out. Remember, a company with a good reputation will take the time to ensure total satisfaction, whatever the purchase.

The experts at olive.com_® have put together this handy extended car warranty buyers guide designed to help you find the coverage you need.

Take your insurance coverage to the next level at olive.com_®
Cover it. olive_® it

Need help navigating breakdown coverage options for a used car?

Download Now: The Used Car Buyer's Guide

Doesn’t My Car Insurance Cover Mechanical Breakdowns?

No. Regular car insurance does not cover breakdowns, maintenance or wear and tear. You would need to buy an extended warranty or an MBI policy to cover repairs. Once you have a warranty or MBI policy in place, it does not replace your car insurance. These items are an add – on to your already existing basic car insurance. Basic car insurance covers state insurance requirements as well as offering additional coverages like comprehensive, collision and underinsured motorists’ coverage to make sure you are insured if and when in an accident.

Examples of Items Covered Under an Extended Warranty

Make sure to review the plans, deductibles and items covered when researching options. The plans usually offer different coverage levels and are designed to fit within your personal budget.
In general, below is an example of items covered under extended warranties.

Steering System
Electrical Components
Engine Assembly
Drivetrain
Transmission
Exhaust Systems
Alternators, Manifolds, Pumps
Heating and Cooling Assembly

Examples of Items NOT Covered Under an Extended Warranty

Extended warranties are not designed to cover regular maintenance or body damage due to an accident. Extended warranties pick up where your car insurance ends. Most policies and plans exclude items like the following

Routine Maintenance
Brake Pads/Brake Shoes
Fluid Replacement
Spark Plugs
Tires
Filters
Wheel Balancing
Body Damage
Scratches, Dents, Paint Chips

The above items fall under service and routine maintenance.

What Does a Used Car Warranty Cost?

This is not an easy question to answer. Depending on the factors reviewed above along with the additional product offerings, extended warranties can range from $20 – $800 per month. There is no universal pricing. An important item to know before you buy a used vehicle is the vehicle’s reparability. Some vehicles are prone to engine repairs, transmission problems or general automotive concerns. It helps to know the vehicle’s issues before you buy. It can especially help you when determining if an extended warranty is needed. The cost will vary between provider to provider. Luckily, most extended warranty providers will give you a quote based on your vehicle’s stats and your individual needs.

How do I buy a warranty for used car?

There are many options for buying an extended warranty on a used car. However, most used extended car warranty companies doo not publish their pricing online, making it difficult to know if you are spending too much. At olive.com_® we publish all of our pricing online. If you have a vehicle 10 years old or newer with under 140,000 miles you can simply go to shop.olive.com and in less than 2 minutes you will get 9 options on an extended car warranty solution for an easy monthly payment you can cancel anytime.

If your car does not fit into that criteria we strongly suggest you download our extended car warranty buyers guide designed to help you find the coverage you need.

How to Get an Extended Warranty on a Used Car?

There are several factors to consider when comparing prices on an extended warranty.

These items and others should be looked into prior to securing a plan.

• Fully review the terms and conditions, you may find that an MBI or extended warranties will cover more parts and systems than even a dealer warranty.
• Most aftermarket plans will cost less than an extended warranty at the dealership.
• Do you choose where the repairs are made, or do you always have to take the vehicle to the dealership?
• Is the plan transferable to a new owner, if and when you sell your vehicle?
• Do they offer different plans to fit into your budget?
• Make sure to review the deductible offers. These are usually $100 – $500.
• Check the mileage restrictions. Some warranty companies can insure and cover higher mileage vehicles.
• Review vehicle age restrictions.
• Is there a waiting period or are you covered when you buy?

In addition to the above pricing is determined by your make and model, the mileage on your vehicle and the year your model was built.

Where to buy an Extended Warranty for a Used Car?

In addition to the dealership where you purchase your used car, there are several companies that offer MBI or extended warranties. Remember, not all warranty companies are the same. Do your research prior to buying. Again, take a look at those terms and conditions so you know the ins and outs of each plan.

Are Used Car Warranties Worth it?

An important thing to remember is that all insurance products or warranty plans offer coverage to protect you from unexpected costs that can arise if and when you have to utilize coverage. If nothing ever happens to your vehicle during your ownership, there is a possibility that you will not use the coverage. But what these plans and coverage options offer is peace of mind.

These plans only pay out when needed. If you have enough money to pay for unexpected repairs to your vehicle on your own, then you can self-insure by not purchasing an extended warranty or mechanical breakdown insurance coverage. However, although you may service your vehicle on the regular and keep it clean and neat, you cannot predict what is going to happen under the hood of the car.

What am I Looking for in an Extended Warranty?

No matter how well built your vehicle is, unexpected problems are bound to arise. For many, their vehicle is their lifeline. A claim filed on your vehicle can cost thousands depending on the repair. The question is when and if that will happen. It does help to know about the reparability of your make and model. Often data is available so you can research known car troubles and the cost to fix them. And if still under the OEM remember, not everything is covered by the manufacturer. OEMs only cover certain items for a limited time.

Some important questions to ask when looking into insurance or warranty coverage:

Are the coverage plans transparent and easy to understand what is covered and what is excluded?
Can you transfer the coverage to a new buyer?
Are the prices fixed or do they adjust?
Do you pay upfront for costs and reimbursed after the vehicle is repaired?
Does the warranty pay the service center directly?
Is there a waiting period for coverage?
Can you cancel at any time?
Are there deductible options to fit your budget?
Are there mileage restrictions per year when driving your vehicle?
What happens when on vacation or a road trip?
What is the process for filing a claim?

You want a company that offers transparent coverage. One that explains the ins and outs, so you know what is covered, when and how. You want to be able to cancel at any time and to make sure you are covered across the US so no matter where you go, you are covered. Most of all, you want to know they will be there if and when an issue arises.

Everyone has individual needs, hopefully, the information above will help you in determining what is best for your situation. Extended warranties and MBI’s are extra security and peace of mind to cover you when a costly repair is needed. Most vehicles tend to become less reliable over time, so an extended warranty might be worth considering if you plan to keep your vehicle after the OEM runs out.

Remember, a company with a good reputation will take the time to ensure total satisfaction, whatever the purchase.

Call on olive.com_® to take your coverage to the next level.

When Does an Extended Warranty Start on a Used Car?

We know like many of you, that learning all there is to know about extended warranties can be a lot to digest. What is what? When do you buy? Who do you buy from? What are the differences that you need to be aware of? What are key benefits to consider? It is a lot to take in!

Well, buckle up! We will dive into the important info to consider when looking at purchasing an extended warranty solution for your used vehicle. First, let’s learn what is what in the realm of warranties.

Original Equipment Manufacturer (OEM)

An OEM or Limited Factory Warranty will be issued with the purchase of a new car. Each auto manufacturer has individual terms and conditions that apply to their new vehicle. Most warranties guarantee that the new vehicle is free from defects in materials and workmanship. If a repair is deemed as defective, the OEM kicks in to repair the issue, most of the time. Parts and labor are usually covered for an agreed upon time, most commonly 3 years and 36,000 miles, whichever comes first. To understand your individual brand vehicle’s terms, see your local dealer or visit their website for warranty information. Pay attention to exclusions if any.

Certified Pre-Owned (CPO) Warranty

Most used vehicles when purchased from a car dealership come with a Certified Pre-Owned warranty. This usually means the vehicle has passed a rigorous set of inspections that the dealership conducts. Warranty coverage varies per car make and model. Just like any warranty, you should pay attention to the restrictions. Usually repairs need to be conducted at the dealership where you purchased the vehicle. These warranties are peace of mind when buying a used vehicle from a dealership.

Extended Warranty

An extended warranty can also be called a service agreement, maintenance agreement or service contract. An extended warranty may be sold at the dealership when buying a new car or post purchase as an aftermarket offering. Extended warranties will cost extra and often paid up front or financed along with your vehicle. Like the other options, there are terms and conditions that spell out items covered and those excluded. Most extended warranties are offered for a set amount of years and usually applies to parts and labor.

 

Never Worry Over Major Breakdowns or Repairs

None of the above plans or policies cover damage caused by a driver or repair damage from an accident or wear and tear. Those repairs are covered by service agreements or basic car insurance. None of the plans should be mistaken for basic car insurance. You will need to keep insurance coverage in case of an accident. Having an extended warranty or MBI means you will not have to unexpectedly shell out hundreds or thousands of dollars for repairs that creep up from time to time. Big repair bills can happen at the worst times, and extended warranties can protect against those.

When Should I buy an Extended Warranty?

No matter how well built your vehicle is, unexpected problems are bound to arise. For many, their vehicle is their lifeline. The ideal is to pick up an extended warranty once your OEM expires. This will give you constant coverage in case a repair is needed. As with any plan or policy of this type, you may never use the coverage but certainly when and if you do have an unexpected breakdown, it can save you thousands of dollars per repair. Peace of mind is worth paying for if you can’t afford for your vehicle to be down for the count.

When is an Extended Warranty NOT Needed?

Common sense tells us that if you can afford to repair your vehicle if and when it breaks down or when those repairs are needed then you may not NEED an extended warranty. In other words, can you afford to self insure your car? One thing to consider is how difficult cars and trucks are to understand nowadays. Between electrical sensors, computer components and microchips, vehicles are more complex than ever. Many claims can cost thousands for one repair issue.

So, based on the above topics reviewed, the decision should come down to these primary questions:
Does your used vehicle purchased have a remaining OEM warranty?
How prone to repair issues is your make and model?
What are your individual driving habits and how will they impact your vehicle?
What are your personal budgeting habits and can you afford repairs if needed?

Introducing olive_®

olive.com_® is shaking up the way drivers look at extended warranties. olive.com_® owns and operates olive_® Insurance Solutions. For nearly 20 years our company and its affiliates have been providing mechanical breakdown coverage for vehicles in a consumer friendly way. In 2020 we launched olive.com_® to take our coverage and products to the next level with a fully digital offering built to serve you. We are a consumer informed product provider, seeking to offer the best product at the right time in a transparent manner.

Our products, customer service, and reputation for excellence have earned us an A+ rating with the Better Business Bureau and we have partnered with some of the insurance industry’s largest companies to back us. We’re in the business of helping you live life covered!

A Smart Investment

In order to protect your vehicle when a repair is needed, having an extended warranty or MBI will suit you well. Most owners tend to file a claim within the first year of starting the extended warranty. Cars are built differently nowadays. Between all the automated components and the computer that literally sits within the engine, costs can soar when a repair is needed. Whether it be a transmission issue, A/C unit or suspension repair, olive.com_® will be there to cover the repair. For this reason, an extended warranty can be a wise investment, paying for itself in just one or two claims.

olive.com_® benefits include:

• Simple, transparent coverage plans to choose from
• No waiting period for coverage – quote today and be covered tomorrow
• Prices are fixed for the life of your term
• Cancel anytime
• Choose the deductible that makes most sense for your budget
• Coverage across the USA, no matter where you go
• No Yearly mileage limits, we cover up to 185,000 miles no matter how quick you get there.
• Easy online access 24/7

When needed:

• We offer a simple claim process
• You choose the service center for repairs
• We pay the service center directly

We hope that we helped you consider the options when it comes to covering your used vehicle with an extended warranty. Whether you own a car, truck or SUV depending on the amount of time spent in and miles driven may determine if you want to cover it with an extended warranty. When it is time for necessary repairs, you’ll be worry free knowing it’ll be fixed immediately. Time is precious, we don’t always have the time to be down a vehicle as we wait and save to pay for the repairs. With an extended warranty, you pay your deductible along with any uncovered items and you are literally back on the road, enjoying life.

Introducing olive.com_®

olive.com_® is shaking up the way drivers look at extended warranties. olive.com_® owns and operates olive.com_® Insurance Solutions. For nearly 20 years our company and its affiliates have been providing coverage for vehicles in a consumer friendly way. In 2020 we launched olive.com_® to take our coverage and products to the next level with a fully digital offering built to serve you. We are a consumer informed product provider, seeking to offer the best product at the right time in a transparent manner.

Why Choose olive.com_® ?

No waiting period
Start coverage up to 140,000 miles
No yearly mileage limits
Coverage across the US
Manageable monthly payment options
Cancel anytime

olive.com_® puts customers in the driver’s seat by providing a platform that allows is fully interactive without being driven to a call center. And, with olive.com_® there is no waiting period. You can quote today and be covered tomorrow. Best of all, our products, customer service, and reputation for excellence have earned us an A+ rating with the Better Business Bureau and we have partnered with some of the insurance industry’s largest companies to back us. We’re in the business of helping you live life covered!

We know this is a lot of information for you to consider. We hope we helped to line out the differences and the benefits to buying an extended warranty solution for your used car. Best of luck in both car shopping and when considering buying an extended warranty.

Take your insurance coverage to the next level at olive.com_®. If you have additional questions feel free to call one of our Coverage Advocates, they are available by calling 866.220.8317.

Cover it. olive_® it

Stay in the (loop, circle, oval, pit) with these blog topics and more by connecting with us. Wherever you find yourself, know that olive.com_® is with you, every mile, every day, every journey.

Buyer’s Guide: Who Has The Best Extended Car Warranty Solution?

In 2021, more people are keeping their cars longer as a smart way to save money and get the most from their investment. With the delay of car manufacturing in 2021, finding the right new car might be harder than finding the right previously owned vehicle. Buying a used car can save you thousands. If you do buy new, you know you have taken great care of it from day one and may worry less about something going wrong with your vehicle. No matter which you choose, buying pre-owned or new off the lot, eventually the manufacturer’s warranty will expire. Even when buying new, sometimes the warranty expires before the car payments.

At olive.com_®, we’re dedicated to helping you know the options so you can make the right decision. Knowing your options starts with asking the right questions. olive.com_® can be the best option in many cases-but not always. Here I will try to help you make the best decision for your situation by explaining what they are, how they work, as well as 12 questions you need to ask before you make a purchase decision.

Why People Choose olive.com_® as The Best Extended Car Warranty Solution Over The Competition

What are my choices for the best extended auto warranty?

There are many options available for extending coverage for auto repairs. The first thing you should know is that when you purchase an “extended vehicle warranty,” you are actually buying a “Vehicle Service Contract” (VSC), or a “Mechanical Breakdown Insurance” (MBI) policy if you live in California (although in some cases you may be buying a VSC in California. For more details on the rules and regulations regarding MBIs and VSCs in California visit:https://www.insurance.ca.gov/01-consumers/105-type/95-guides/01-auto/servcontextwar.cfm)

Why should I care what it’s called?

In reality, you don’t care what it’s called. You just want to know if you are getting the coverage you need to avoid an expensive auto repair. However, if you don’t know your best extended car warranty solution options, you may not get the coverage you need.

How do I know if a company is “good” or the “Best car extended warranty” option?

It is important to understand what makes a company legitimate; remember, a company is only as good as its backing. California MBI regulations help to provide some framework, but you still have to make sure the company backing the plan is a large company that will not likely be going out of business in the next few years. For the rest of the US, choosing VSCs can be a risk unless you know they have a strong backing.

You rely on your MBI/VSC provider for peace of mind. If the MBI or VSC you choose is not financially sound, you may never get covered. Like any other insurance product you buy, you need to know they will be there when you need them.

Here at olive_®, every single policy, whether MBI or VSC, is backed by QBE, an insurer with $15 billion in global gross written premiums. They employ over 12,000 people in 30+ countries and have been an underwriter with a consistent “A” Financial Strength rating from A.M. Best, Standard & Poor’s, and Fitch Ratings.

That’s a lot of letters and numbers.

Bottom line: our customers’ plans are dependable, and that alone may make them one of the best extended car warranty solution options..

Which extended car warranty option is best for me?

Once you are comfortable with a company’s ability to protect you from major car repair expenses, the next step is to choose a plan.

Like any insurance product, there are different levels of coverage. This is a summary of how we break them down here at olive.com_® (you can get more details here on the olive.com_® coverage page).

Powertrain Coverage

These types of plans cover your drive-train. For olive.com_®, the Powertrain level of coverage covers all of the most expensive items, including every lubricated part of your transmission and engine. It also covers other expensive repairs: Water and oil pumps? Thermostat? Factory turbocharger? All covered. These policies can be as low as $10/month and protect you from these break downs breaking your bank. If you are on a tighter budget, this might be the best extended warranty solution option for you, just make sure you know what your MBI or VSC actually covers.

Comprehensive Coverage (sometimes referred to as “Bumper-to-Bumper”)

This is similar to what you would expect from a manufacturer’s warranty on a new car: you expect to pay for parts that wear down regularly such as brake pads and oil changes, but do not expect to pay for things that just “broke,”. These types of plans cover most of the details.

olive’s Complete Care vehicle service contract coverage is so comprehensive, it’s easier to tell you what is excluded. While tires and windshield wipers are not covered because they are wear and tear items, just about everything else is covered, from your backup-assist camera to your transmission control module – we have covered, olive_® it covered. If you are looking for comprehensive coverage and maximum piece of mind, then this may be your best extended car warranty solution.

Something In-Between

Many plans are somewhere between the two plans mentioned. For example, the olive_® Powertrain Plus vehicle service contract takes the benefits of our olive_® Powertrain plan and turns it up a notch. Covering more than just the major parts, olive_® Powertrain Plus includes power steering, front suspension, brakes, and air conditioning components. The plans are very popular with people who want a bit more piece of mind and have a tighter budget. Make sure you understand the details of the offered VSC or MBI. If it covers what you worry about then it my be your best extended car warranty solution option.

How much should I pay? What kinds of fee structures are available?

Finding real pricing, and an honest cost analysis, can be a challenge. Typically, your car dealer will give you a few options when you buy your vehicle, but you may not be sure if they are offering you the best deal. Shopping online can be daunting because there are so many choices, and it’s hard to know what’s right for your needs. Even offline, we’re bombarded with radio and television ads.

Let’s cut through the noise and lay out your extended car warranty shopping and buying options.

Buying at the dealership

Many of us have experienced buying a “car warranty” at the dealership:
After hours, days, weeks or even months of shopping, learning, and test driving, you finally find the car you want and you are ready to sign the papers so you can go for your first joy ride. But wait…there’s more!

At the dealer you can get 1-2 (or maybe even 3!) options for warranties. You might be able to roll it into the financing for your car, pay for it outright, or subscribe to for a 2-3+ year commitment. If you’re well-informed, you can navigate your options and figure out what works best for you. Most people do not live and work in the car warranty world; they have no idea how much something like this costs and have no way to compare it in the moment.

You don’t need to feel pressured. You have time to find the best extended car warranty solution for your needs, and with web based tools like the one olive_® offers, you can do some research before you even go to the dealer-or right from your phone at the dealer.

In most states, you have 3 days to return a car after purchase if you don’t like it. You should be able to get 2-3 days to make the decision on your car warranty. If not, then it might be a good idea to say no and look for something on your own.

Go to the dealership prepared with your best extended car warranty options. An informed customer is a savvy shopper, and a savvy shopper makes good decisions. In the same way you research makes, models, and years of cars for pricing and reliability before you make a purchase, research MBI and VSC costs before you go to pick up your car. Information is power.

Getting an Online Quote

Most “online quotes” are not actual online quotes, but rather a lead generation form that may put you on a list to get robocalled. Which is not fun for anyone. If they do not provide pricing and the option to check out online, then you may have to have a conversation with a salesperson to get the details you need to make a decision. We’ve found that most major companies handle people professionally, so calling them can be a good way to go. If they are not transparent or professional, then hang up and move on to your other options.

At olive.com_®, we provide an online quoting tool with 9 different options for the vast majority of automobiles sold in the US today, as long as they have under 140,000 when they start with us and they are less than 10 years old, and we cover them up to 185,000 miles. In most cases, we can give you a quote for a car you own or are considering in less than 2 minutes. This is one of the features that make our MBIs and VSCs one of the best extended car warranty solutions. You know what your options and can actually purchase with no phone calls at all. and NO ROBOCALLS!

For now, if your car is older, has over 140,000 miles or is one of the few brands or models we do not cover you will need to reach out to a different company. Make sure you are prepared with the questions below.

Responding to Direct Mail and Emails

There are some legitimate opportunities to purchase your “best extended car warranty”/MBI/VSC that are sent to you in the mail. Manufacturers like Fiat, Dodge, Chrysler, and Ford send them out to their customers and can offer good solutions. Even we at olive.com_® use direct mail to notify people of their eligibility.

Use your instincts. Avoid mail offers that seem fake, or that use scare tactics or high-pressure tactics. If that is what they are leading with, then you may see more of the same when you call. Some companies are generating leads or getting commissions reselling others’ products, and do not have the consumers’ best interests at heart. Our customers have shared their experiences, and you can get sketchy results from calling some of these companies. If you do call, just make sure you are prepared to ask the right questions and don’t feel pressured to buy without all of the facts and documentation. You are your own biggest advocate. If it’s the best extended car warranty solution for you, you should not feel pressured to buy-you should be happy!

Responding to Incoming Calls and Robocalls

These have become more prevalent and intrusive over the last few years. The most important thing is verifying they are with the company they say they are with. Make sure you get their company information so you can check them out before you start giving them your personal information. If they provide the best extended car warranty solution then they should be proud to be transparent!

Request a quote and all the coverage details via email so you can make the best decision to meet your specific needs.

Okay, I’m ready to start looking. What are the most important questions I should ask?

1. What is Their Reputation?

What is their BBB rating? What are their reviews like on Google, Facebook, etc.?

If you are looking for the best extended car warranty solution for your needs, remember that BBB ratings are still the toughest to get. You cannot fake them easily like other review platforms. Reviews on Google and Yelp are pretty well regulated, although with enough money companies can pay for fake good reviews and they do not always get caught. Facebook can also be a good place to learn about a company, but here at olive.com_® we have seen on our Facebook page people making comments or complaints about one of our competitors with a completely different name! We had one complaint about the “smell of our olive_® oil store”- one of the downsides of trying to be creative with our brand. That aside, olive.com_® is one of the few MBI and VSC companies that has an A+ rating with the BBB, and we have nearly 5 stars with Google and Birdeye.

Don’t be shy about asking your friends if they know of someone they would recommend. If they have a bad experience, at least you will have an idea of who to avoid.

Pro Tip: Read reviews. See how the company treats their customers and responds to complaints as well as compliments. Look at the reviews the same way you would for a restaurant or a movie. If you truly want the best extended car warranty solution, this is an important step.

2. Are There Coverage and Deductible Options?

Most MBI/VSC companies don’t provide many options. I tried to get an extended warranty on my wife’s car from one of the major companies; they had one option, and I had to pay it all up front. When I bought an olive.com_® VSC plan for my son’s 2012 Toyota 4Runner with 120,000 miles, I had 3 options for coverage and 3 options for deductibles. I chose the option that worked best for us: $500 dollar deductible and the comprehensive coverage for less than $65/month. With olive.com_®, you can decide your tolerance for out-of-pocket expenses by choosing your own deductible and coverage.

Money Saving Tip: To save money, choose a higher deductible. In many cases, you will more than cover a $500 deductible in your first 6 months of payment savings. Place that $500 aside in the bank, earning interest on it while also having it ready for times of need.

Pro Tip: The availability of choice was very important for me, and it is for most people. Decide if choice is important for you. Account for your deductible in your budget. The companies with options for the best extended car warranties should be able to provide coverage and deductible options.

3. What is the Price?

This may seem simple, but if a company does not publicly show their pricing online for everyone to see, it becomes difficult to know and compare their actual price. At olive.com_®, we publish all of our prices online to anyone who goes through our quote tool. And don’t worry; while we will follow up with a few emails and may have one of our customer advocates call, we do not robocall you and you can easily opt out of an email or ask us not to call you again.

Pro Tip: If you call and speak to someone, ask for all of the pricing options to be emailed to you. That way, you can compare it to other options and make the right choice for you. If their prices are not transparent, then how can you know the salesperson is not overcharging you for his best extended car warranties?

4. Do They Have Payment Options?

When you are at the dealer, you are usually offered the option of rolling the cost of the MBI or VSC into your auto loan. If you are comfortable with the price they are charging for the coverage, it can be a convenient way to go.

If you don’t buy it from the dealer you have a few options:
• Pay it all up front.
• Pay a chunk down, and then a smaller amount monthly.
• Monthly payments / Pay-as-you-go

One of the major advantages of pay-as-you-go is that in some cases you can cancel any time. This is not an option if you finance it with your car, or if you pay it all/mostly up front. Some monthly payment companies have even offered payment extensions or reduced payments during Covid-19 so people would not have to cancel their policies.

Pro Tip: Look for flexible companies with payment options that fit your budget and needs in the long-term. At olive.com_®, we offer monthly payments and you can cancel at any time. If it is truly the best extended car warranty solutions then why would they lock you in and make it nearly impossible to cancel?

5. Can I Opt-Out of Roadside Assistance and Other Add-Ons?

Most people already have roadside assistance through their auto insurance policy. I used mine just a few months ago when my car broke down on the side of the road; trust me, it’s important to have. It’s often added into the cost of an MBI/VSC, but it doesn’t have to be. At olive.com_®, our quotes are not padded with unnecessary add-ons, making it less expensive and easier for our customers to avoid paying for redundant services.

Pro Tip: Make sure you know what you are buying. You’re the one driving; don’t get taken for a ride. You are looking for the best extended car warranties-your insurance will usually provide the roadside assistance you need.

6. Can I Cancel Anytime?

If you sell your car, you need to cut back some expenses, or you just don’t feel you need the coverage anymore, make sure you can cancel at any time. This may only be an option if you are on a pay-as-you-go plan. At olive.com_®, all of our plans are month-to-month, and you can cancel at any time.

Pro Tip: Know your plan, and how to get out of it if the need arises, before buying. The best extended car warranties, AKA MBIs and VSCs, shouldn’t hold you hostage.

7. Are There Yearly Mileage Restrictions?

Most extended warranties (MBIs and VSCs) have a yearly limit on the miles you can drive and still be covered. Many standard packages only cover 10,000 miles/year; they may offer more expensive packages that will cover more miles.

At olive_®, we have no yearly mileage restrictions. We only cover cars that have less than 140,000 miles on them when they start with us, but do we cover them up to 185,000. That is a minimum of 15,000/year, but you are covered up to 185,000 miles even if you use the whole 45,000 in year one. If you start with us when your car has only 60,000 miles, you are still covered for 3 years up to 185,000 on your odometer. Then your policy is cancelled

Pro Tip: Make sure you understand how many miles you can drive in a year, for how many years, and the total mileage allowance of the contract.

8. Is There a Waiting Period?

Most MBI and VSC programs from a dealer have a 30 day/1,000 mile waiting period. Seems fairly reasonable, but if something happens during that time you will not be covered.

At olive_®, you are covered the day after you make your first payment: Click and pay today, you are covered tomorrow.

It is vital to understand that these types of extended warranties do NOT cover pre-existing conditions. If you had your car towed to a shop, purchased a plan after the tow, and then turned in the claim, you will most likely be denied the claim. A good MBI/VSC company will treat you fairly, but also expects to be treated fairly and honestly by their customers. It’s just good business and the right thing to do.

Pro Tip: Know your waiting period, and remember pre-existing conditions are not covered.

9. How Many Years is My Price Locked In?

If you have monthly payments, you don’t want them to go up. Make sure you know the terms of your monthly payments. At olive.com_®, our prices are locked in for the coverage period of 3 years. And remember; you can cancel at any time.

Pro Tip: Make sure you know what you’re getting into for exactly how much.

10. Where Can I Take My Car to be Fixed?

Most reputable MBI/VSC companies allow you take the car to any certified repair shop; most repair shops are certified, so this is not typically an issue for travelling or commuting from where you bought your car. olive.com_® even covers you when you take a road trip to Canada!

Many companies, like olive.com_®, also cover hotel expenses if you get stranded somewhere while your car is being repaired.

Pro Tip: Make sure you have options for taking your car somewhere other than where you purchased it. Explore additional benefits offered to make your rainy days a little easier.

11. What is Covered?

Make sure you know what parts of your car are covered. Remember that auto accidents are covered by auto insurance (minus your deductible). MBIs and VSCs cover the cost of repairs not associated with a collision. You need to ask for the details of what is covered in your plan to avoid unexpected expenses.

Here is what our plans cover, but please call if you have more specific questions.

Pro Tip: Before you buy, get the details of what your plan covers. Make sure it’s accessible, whether it’s available plainly on their site, in an email, or mailed to you.

12. Is My Plan Transferable?

If there is a good chance you may want to sell or trade in your car within the time frame of your coverage, you should make sure the coverage is transferable. If you have an olive.com_® policy, we allow you to transfer it as long as the buyer agrees to take over your payments.

If you can give the buyer the option of a warranty with purchase, you may be able to get a better price and an easier sale for your car. They also know your car was more likely to be well taken care of.

Pro Tip: Changes happen, and unless you know you can cancel anytime, find out how flexible your plan is to make sure you’re never stuck.

How do You Know if an “extended car warranty” aka MBI/VSC is right for you?

Know what you are worried about and do the math. When you choose the right company, you are engaging in what should be a fair trade. Unlike buying auto insurance, you don’t have to buy an extended warranty. You need to weigh your options and choose wisely. You are the one who knows your situation best, and only you can decide.

If you are worried about your car having a major breakdown that would deplete your savings or max out your credit cards, then paying a monthly amount that is fair and comfortable for your personal financial situation might be a great way to go.

If you have tens of thousands of savings in the bank or a healthy ability to borrow money for a major repair should something go wrong with your car, then extending your warranty with an MBI or VSC may not be the best use of your finances.

In my example, the car I bought for my son, it was a no-brainer for me, because I would rather not risk my resources. Paying less than $70/month to cover my son’s Toyota 4Runner with a $500 deductible is what felt comfortable for me in my financial situation. I don’t want to worry about him coming to me to borrow $2,000+ for a major repair in the next 3 years if something goes wrong. I can handle a $500 surprise, but I do not want a $2,000 one.

Personally, I drive an old classic car with no extended warranty options. I have to plan ahead and make sure I always have the means to pay for a $2,000 to $5,000 or more repair if it happens. I take great of the car and have few issues, but I still need to be prepared. My wife’s car is still under manufacturer’s warranty, but we will likely purchase a plan when it is out after considering all of the factors.

Is olive_® the Right Company for Me?

We have options available for most vehicles. Even if you do not use us for a breakdown, you can use us to help get the best pricing on maintenance. Just call us and we will help!

However, olive.com_® is not for everyone. If your car is more than 11 years old and has over 140,000 miles we can’t cover it.

At olive_®, we strive to earn your business every month with great customer service and peace of mind.

Alright, You’re Ready. Get Your Price Now.

When you are purchasing your car, you need to be ready to ask the right questions. Have our list handy, so you can make apples-to-apples comparisons. Don’t feel like you have to make the decision that day. If it’s the right deal, it will be there tomorrow.