Owning your own car brings about a sense of freedom and I’m sure we all remember the feelings we felt on the day we received our first set of wheels, so many places to go and people to see. However with great freedom comes great responsibility and this can come with some hefty expenses should your vehicle start pitching a fit.
Those fortunate enough to be driving newer cars are protected by things such as service plans and warranty, which are usually included in the purchase of a vehicle, as well as maintenance plans which tend to be sold with more premium models.
With all the options available, its important to know the differences and the benefits thereof, so lets break it down:
A service plan assists you in being able to pay for the basic and full service requirements of your vehicle. A service generally has two parts – a major service which includes a cam belt change and a minor service, also referred to as an oil service. Obviously there is a lot more detail to it and it varies from car to car so we won’t go into any more detail here. In short, a service plan is there to help you budget should your vehicle need to go in for an engine service with a reliable service centre.
A car maintenance plan has all the elements of a service plan but also includes warranty against mechanical failures as well as covering wear and tear items such as brake pads and linings, aircon gas, shock absorbers, batteries etc. Only a select few cars qualify for a maintenance plan, it all depends on the mileage and age of the vehicle.
Motor car warranty is a insurance product that you can take out on your vehicle to ensure that you are covered in the event of a mechanical breakdown. A warranty plan should pay for some if not all of the costs in repairing the damage sustained, depending on the cover you have taken out, typically a more expensive plan will pay out more for repair costs.
Nowadays more and more preowned vehicles are being purchased and while buyers still want piece-of-mind motoring, manufacturers service plans and maintenance plans may not be applicable anymore especially if the vehicle is over 5 years old. For this reason many vehicle owners are choosing to extend or renew their warranties to ensure coverage in the event of a breakdown.
If you would like to find out more about ensuring your vehicle, contact us here.