There are many myths and misconceptions about extended warranties as they relate to automobiles. One of the most common misconceptions is that you should wait to buy an extended auto warranty until the manufacturer’s warranty expires. People often believe that if you buy an extended warranty while the car is still covered, you’ll end up doubling up on your coverage.

This information is in fact false. When you buy an car warranty, you’re covering your vehicle from the time that the manufacturer’s warranty expires until your car reaches a certain mileage point set out in your contract. In fact, if you don’t purchase an extended warranty ahead of time, you’ll run the risk of being uninsured.

You should also consider that the price of mechanic’s labor is going up. It only stands to reason that the price of warranties will rise as well. In any event, it’s difficult to imagine that prices are going down. The last thing you want is to wait to extend your warranty, only to find that prices have doubled since you last looked.

Another misconception that people often have is that a dealership will only accept an extended warranty if your purchase it through that dealership. However, this is simply not true. In fact, a dealership will typically end up having to do less paperwork if you have a third party warranty. Keep this in mind when shopping around, because you won’t need to shop only with your dealership to use their services.

You also should remember that having a warranty doesn’t mean you don’t need to perform regular maintenance on your car. There are different warranties that cover different aspects of maintenance and repairs, but many of them won’t cover you if the repair comes as a result of you not taking proper care of your vehicle. Be sure to get regular maintenance to keep your car in the best shape possible and to keep its value up.

The last thing to remember about car warranties is that their price is not set. Therefore, you want to shop around to find the best value for your money. Keep in mind that finding the best value is not always the same as simple finding the warranty that comes with the lowest price tag. You’re looking for a warranty that offers the coverage you want at the most reasonable price. This will help to keep you and your car covered.