Is an Extended Car Warranty Really Necessary, and What Are the Costs Involved With a Typical Repair?

More than one-third of all vehicles experience a mechanical failure in any given year. The average extended warranty holder will make four or five claims over the life of their warranty. If your vehicle experiences a mechanical failure after your factory warranty expires, the costs can be in the thousands of dollars.

Even more importantly, car owners will frequently put off needed repairs until they can afford to pay for them. This delay will often result in additional mechanical damage to the vehicle, and can actually create unsafe driving conditions.

Today's vehicles are extremely complex and contain many electronics, high tech sensors and computers that frequently need to be replaced due to failure. While engines and transmissions are more reliable than ever, it's these other parts that frequently fail. As vehicles get more and more "high tech", associated repair costs are forecast to rise dramatically. You can protect yourself from these high costs by purchasing an extended car warranty.

Following Are Some Examples of Repair Costs Now and What They Are Forecast To Cost in Five Years From Now: