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Buying an extended warranty is always beneficial, especially if you are looking at keeping your car for long. Yes, it may not cover some parts and faults, but what you get is a lot. And even though it might cost you a premium, it can save you big money in the long run or help you sell your car.

A warranty certificate must provide information such as product name, brand name, the serial number of the product, the date of purchase, the address of the seller store, the period of warranty, terms & conditions, limitations and other information that is necessary for claiming warranty in future.

You can purchase an extended auto warranty at any time, although waiting until the original factory coverage has expired will generally mean paying a higher premium rate. The most advantageous time for purchase may be near the end of the original warranty term.

What the warranty entails: Replacement, repair, or complete refund (and whether the customer must pay for shipping or other costs) The length of time the warranty covers the product from the date of purchase. What the warranty does not cover (such as damage caused by improper or illegal use)

An extended warranty plan from the dealership will usually cost between $1,000 and $1,500. Normally, the cost of an extended warranty is tacked on to your monthly car payment. However, one drawback to is you may end up paying interest on the warranty, and it becomes more expensive in the long run.

The following are some tips and guidelines for composing your product warranties.Follow the rules expressed in the Magnuson-Moss Act.Clarify what the warranty does and does not cover.State the length of time that the product is covered.Give customers the option to extend.More items...?2 Apr 2015

Four common types of warranties are the express warranty, implied warranty, extended warranty, and special warranty deed. An expressed warranty guarantees that a product will meet certain conditions of quality and performance.