Say your transmission falls out at 92,000 miles: Some of these plans are only affiliated with franchised new car dealerships, so you’ll have to have it towed to a dealer. How these plans differ is the rules under which they’ll pay for a repair. Figure you’ll trade this car in at no more than 80,000 miles? You can find a service plan that will cover the gap between there and the end of your original warranty. Thinking of keeping your car to 120,000 miles? There are service plans out there that will cover you. Prepaid service plans will vary all over the place in terms of both time and mileage. With all that out of the way, what is a prepaid service plan? It’s a service contract, where you pay a monthly fee to avoid having to pay a huge bill if something really bad happens to your car when your original new car warranty runs out of time or mileage. It’s not an “extended warranty,” no matter what these companies, or people like us who have to live by the vagaries of Google search optimization would like to call it. Everything else - Literally everything else - is a prepaid service plan. The only car warranty that exists is the warranty your car came with when it was new. Official Ratings: We consulted a wide range of verified review sites to extrapolate a ratings score for each.Įverybody - including us now - is using “car warranty” incorrectly. Car Talk reviewed the following important criteria for each company:Ĭonsumer Satisfaction: Cross referencing multiple trusted resources to pull our fair and balanced customer reviews.Ĭost: Utilizing our secret shopper initiative, we got comparable quotes across all companies so we can validly compare pricing.Ĭoverage and Offerings: Our research team delved into the coverage and offerings for each company, comparing what is available, including extras and discounts. We compiled over 700 data points across all reviewed companies to refine and inform our selection process. Our process for deciding on the best warranty companies is exceptionally thorough, involving in-depth research and our unique secret shopper initiative. Our Methodology For Best Warranty ProvidersĬar Talk has spent the last two years diving deeply into the warranties industry for the benefit of our readership and long-time listeners.
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