When you purchase a new car, it usually comes with a factory warranty that protects you from unexpected repair costs associated with sudden mechanical breakdowns. Once that coverage expires, however, you may want to consider extending it for peace of mind.
But how much does an extended car warranty cost? Our team uncovers typical extended warranty prices and recommends one of the most reputable extended car warranty companies to help you find affordable coverage.
In this article:
- Extended Warranty Overview
- How Much Does An Extended Warranty Cost?
- CarShield: Best Value For Vehicle Protection
- Frequently Asked Questions
Extended Warranty Overview
An extended auto warranty is a vehicle service contract that covers the cost of repairs and parts replacement due to mechanical breakdowns. Extended warranties typically don’t cover the costs of routine maintenance or replacement of wear-and-tear parts such as tires or brake pads.
While a factory warranty comes with the purchase of a new car, extended warranties from both automakers and third-party providers are purchased separately. If you opt for a manufacturer extended warranty, you’ll likely have to purchase extended coverage when you buy your vehicle or before your factory warranty expires. In contrast, third-party extended warranties can be purchased at nearly any point during the car’s life.
Manufacturer and third-party extended warranties also generally have different requirements for where you can take your car for covered repairs. Third-party providers like CarShield will let you take your car to any approved repair shop where mechanics are certified by the National Institute for Automotive Service Excellence (ASE®). Some manufacturer extended warranties also have a network of approved mechanics, but most require your vehicle’s covered repairs to be done at a dealership.
How Much Does An Extended Warranty Cost?
Our research team found that the average price of an extended car warranty is $2,862 and that extended warranties generally cost between $1,600 and $4,500.
Several factors affect the cost of an extended warranty, including:
- Your vehicle’s age, make, model, and mileage
- Your location
- The extended warranty provider you choose
- The coverage level you choose
- The deductible on your extended warranty plan
CarShield: Best Value For Vehicle Protection
In its industry-wide review of extended auto warranty providers, our research team awarded CarShield the title of Best Value. CarShield offers six tiers of coverage, as well as flexible term limits.
Unlike a lot of extended car warranty providers, CarShield offers month-to-month contracts. Payments range from about $89.99 to $129.99 per month. The company also offers contracts with set limits for years and mileage.
CarShield Warranty Plans
To help you find the coverage that best suits your needs, CarShield offers six extended warranty plans.
| CarShield Plan | What It Covers |
|---|---|
| Diamond | This is comparable to a car manufacturer’s factory warranty. It covers the engine, transmission, fuel pump, starter, and more. Only aesthetic components and wear-and-tear items are excluded. |
| Platinum | This is the highest level of inclusive coverage CarShield offers. It covers the engine, cooling system, transmission, and more. |
| Gold | This enhanced powertrain coverage protects the engine, transmission, drive axle, alternator, and more. |
| Silver | CarShield’s version of standard powertrain coverage protects all lubricated parts of the engine, drive axle, transmission, and water pump. |
| Aluminum | Designed for luxury vehicles with complex electronic systems, this covers the GPS system, voice activation control, control modules, and more. |
| Motorcycle & ATV | This covers motorcycles and ATVs. |
Additional Benefits Of CarShield Extended Warranties
Along with covering the cost of certain auto repairs, CarShield plans include these perks:
- Choice of any ASE-certified repair shop
- 24/7 roadside assistance
- Towing
- Rental car reimbursement
- Trip interruption reimbursement
Frequently Asked Questions
Should I extend my car warranty after it expires?
An extended warranty can protect your car’s components and your peace of mind after your car’s factory warranty expires. If your car has known issues, it may be a good idea to add extended coverage to keep unexpected repair costs from hurting your wallet.
What is a fair price for an extended car warranty?
An extended warranty usually costs between $1,600 and $4,500, with the average price for a plan being $2,862.
Can you purchase an extended warranty at any time?
You can purchase an extended warranty at nearly any time – but only if you buy coverage from a third-party provider, like CarShield. In general, an extended warranty from the manufacturer can only be purchased when you buy your vehicle or before your factory warranty expires.
