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FAQ About Finance
WHAT IS AN AUTO SERVICE CONTRACT?
An auto service contract is a contract that provides coverage for specific repairs and maintenance services on a vehicle. Our dealership or a third-party provider may offer these contracts and can cover a range of services from basic maintenance to major repairs.
Advantages of a vehicle service contract?
A vehicle service contract, also known as an extended warranty, is an agreement between the vehicle owner and a third-party provider that covers the cost of certain repairs and maintenance services beyond the manufacturer’s warranty. Here are some advantages of having a vehicle service contract:
- Cost savings: Vehicle service contracts can provide significant cost savings by covering the cost of repairs and maintenance that would otherwise be paid out of pocket.
- Peace of mind: With a vehicle service contract, you can have peace of mind knowing that you’re protected against unexpected and potentially expensive repairs.
- Customizable coverage: Vehicle service contracts can be tailored to meet your specific needs, with varying levels of coverage, deductibles, and terms.
- Transferable: If you decide to sell your vehicle before the service contract expires, you may be able to transfer the coverage to the new owner, which can increase the resale value of your vehicle.
- Nationwide coverage: Many vehicle service contracts offer nationwide coverage, which can be especially beneficial if you travel frequently or move to a new state.
- Access to quality repair shops: Most vehicle service contracts require repairs to be performed at authorized repair facilities, which can help ensure that your vehicle is serviced by trained professionals using high-quality parts.
- No unexpected repair bills: With a vehicle service contract, you won’t have to worry about unexpected repair bills, as many contracts cover the cost of parts and labor.