Warranties protect used car buyers from costly repairs says MB&G
Drivers shouldn’t have any qualms about buying a used car of any age or mileage outside of the manufacturer’s warranty advises MB&G, the UK’s longest established privately owned vehicle warranty provider.
Buying a reputable warranty through their used car dealer can give them the same peace of mind a new car buyer enjoys, knowing that potentially expensive repairs or replacements could be dealt with in a fast and hassle-free manner.
“Vehicle reliability in general has improved in recent years, but the complexity of today’s cars and the electronic systems they employ means that the average cost of repair, when it happens, can be high,” explains Kevin Pearce, Operations Director of MB&G. “We are finding that the frequency of claims is falling, however, the value of each claim is increasing due to the higher labour rates being charged and the cost of parts.”
“The customer who buys a used car warranty today is in a better position than ever before,” Kevin continues. “For example, we’ve recently settled a repair bill of over £4,000 on behalf of one of our customers who is now extremely grateful his dealer suggested buying a mechanical breakdown warranty to cover his used Mercedes!”
Warranties come in a variety of protection levels and prices dependent upon the cover required for the specific age and mileage of the car being purchased, so MB&G has come up with top tips of things to consider:
- Check any warranty exclusions carefully. Many warranties cover as standard sudden electrical or mechanical failure, but not all provide cover for wear and tear of parts. Be aware that a high mileage vehicle may develop a fault as a result of wear and tear, which may not be covered by the warranty policy
- It is also important to note all warranties have specific terms and conditions which should be read and understood by the purchaser before acceptance. These generally cover the servicing and maintenance of the vehicle and will give a summary of what is, and importantly what isn’t, covered by the warranty
- Some drivers may be better off with a used car warranty which has no mileage restrictions once the warranty has started, whereas most manufacturer’s warranties have restrictions on mileage
- A warranty with a recovery element attached to it will enable the car to be recovered to a repairer in the event of a breakdown, sparing the owner extra hassle and cost
- Replacement vehicle cover is also a good idea. The provision of a temporary hire vehicle will ensure the driver isn’t left stranded while the car is off the road for repair. (This hire car will have a restricted amount payable per day and will only come into effect after a given amount of time has elapsed. There will normally be a limit on the number of days the car will be provided for)
“It is important for customers to realise that there are various levels of cover for various types, ages and mileages of cars and they should ensure that their supplying dealer provides a suitable level of cover for the car they are buying. A reputable dealer should have no problem in explaining to the customer the cover levels on a particular warranty and the requirements to keep the cover valid,” Kevin explains.
“With the complexity of modern cars today and the limited ability for dealers to repair as apposed to replace failed components on the car, the used car buyer has to be aware of the potential repair bills that may result if the car has a failure and there is no warranty to cover this,” Kevin concludes.
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