Luxury car owners need to accept that expensive cars mean expensive repairs. You may currently be enjoying the warranty you receive from your car’s manufacturer. However, this warranty won’t last forever.
This is why you need to consider getting an extended warranty for your luxury vehicle. Getting an extended warranty is the best way to ensure that your car will remain protected even after the manufacturer’s warranty expires.
Below are some reputable companies to consider for your luxury car’s extended warranty.
Since its establishment in Hunt Valley, Maryland, in 1999, CARCHEX has had a good reputation in the car warranty industry. It is also known as one of the country’s largest vehicle service contract providers. CARCHEX reviews are generally good and the company has been endorsed by Edmunds, Kelly Blue Book, and CARFAX.
The company offers protection plans in five coverage levels. You can customize the plan depending on your vehicle and needs. When you sign up for a CARCHEX plan, you also get some additional benefits. These perks include 24/7 roadside assistance, rental cars, trip interruption, and gas delivery.
If you own a luxury vehicle, you should choose CARCHEX’s Titanium Plan. This is the highest level of coverage offered by the company. It provides coverage similar to a bumper-to-bumper warranty and has a term of seven to 10 years. The plan covers most parts of your car with only a shortlist of exclusions.
CARCHEX plans are also ideal for used vehicles since they last for up to 20 years or 250,000 miles.
Endurance was established in Northbrook, Illinois, in 2006. It is now considered one of the biggest third-party extended warranty companies in the U.S.A. The Vehicle Protection Association has awarded Endurance with a gold-level certification. It has also been named one of the country’s fastest-growing private companies several times by Inc. Magazine.
Unlike most of its rivals, Endurance is a direct service provider. This means that management of vehicle service contracts and handling of claims are done in-house. The company offers different coverage options for car buyers. There’s also a 30-day money-back guarantee in case you cancel your coverage.
Endurance offers six coverage levels, the first five of which are extended warranties. The company’s top-tier plan is a bumper-bumper warranty that covers most parts, with only a few exclusions.
Endurance also offers an extended warranty for Mercedes Benz. Unlike the extended warranty offered by Mercedes Benz dealers, an Endurance coverage includes vehicles that are more than four years old. Mercedes Benz vehicles that have passed the 5,000-mile mark are also eligible.
Protect My Car
Established in 2005, Protect My Car is based in Saint Petersburg, Florida. The company is a popular choice for vehicle service contracts. With plenty of positive reviews on different websites, Protect My Car appears to be a reputable extended warranty company.
The company offers three levels of warranty coverage. Luxury car owners should consider Protect My Car’s Supreme Plan. This option is most similar to a manufacturer’s warranty. This is ideal for those who want to keep their cars protected even after the factory warranty expires.
Vehicles over 13 years old are excluded from Protect My Car’s extended warranty coverage. But the company offers Ambassador Maintenance Plans that come with discounts on repairs, 24/7 roadside assistance, and reimbursements for car rentals.
Founded in 2005, CarShield is an independent extended warranty provider based in St. Peters, Missouri. It offers extended warranty coverage for both new and used vehicles, including luxury cars. CarShield is a good choice for high-mileage cars since it provides coverage terms for up to 300,000 miles. CarShield’s advantage over other companies is that it offers flexible payment options and monthly contracts.
CarShield has a basic powertrain plan designed for luxury cars and vehicles with sophisticated electronic systems. The plan covers power seat control, sensors, voice activation control, GPS, and more.
Founded in 2010 in Lake Forest, California, autopom! offers one of the best values on the market. The name autopom! stands for automotive peace of mind, and the company really works hard to stand by its name. autopom! offers different levels of vehicle service contracts, but some are available only in select states.
What makes autopom! stands out from other companies is its seamless quote process. However, you need to know that this company only covers cars in good condition. It also asks for a higher down payment than other companies. autopom! has four levels of extended coverage warranty plans. Except for Ferrari, Lamborghini, Bentley, and Rolls-Royce, the company covers luxury vehicles.
Olive has been in the extended warranty business since 2000. But it recently launched an online warranty company, providing an option for digitally-inclined car owners. The new company started by offering mechanical breakdown insurance or MBI in California then soon expanded to other states.
When you buy a plan from Olive, your coverage begins on the same day, making the company unique from other companies that require a waiting period. Olive also doesn’t require an inspection for pre-existing conditions.
Olive also employs a subscription-based model, allowing customers to cancel anytime. The company has a simple three-tiered extended warranty coverage plan. Luxury car owners will benefit from the company’s Complete Care option, a bumper-to-bumper extended warranty.
The Bottom Line
It’s important to get an extended warranty for your luxury vehicle. Equally important is to choose the right company. You need to make sure that your car is covered in case it needs repairs down the road, but it’s also important to choose a company that meets your budget.