Extended warranty for cars over 100K miles (2022 guide) – MarketWatch
The older your vehicle gets and the more miles you drive, the more prone to wear and tear it becomes. Purchasing an extended warranty for cars over 100,000 miles will help ensure that your vehicle is protected long-term in case of a mechanical breakdown.
Our Home Media team reviewed the industry’s most reputable extended car warranty companies, including leading third-party providers that offer coverage for high-mileage vehicles. We’ll explain how coverage works for older vehicles and which extended warranty providers you might consider reaching out to for free quotes.
What is an extended warranty?
An extended warranty, also known as a vehicle service contract, is a plan you purchase after your factory warranty expires to protect your vehicle against unforeseen, costly repairs in the case of a mechanical breakdown. Protection plans usually cover car repairs for an agreed-upon period of time or number of miles.
Most extended auto warranty plans provide protection ranging from bumper-to-bumper to powertrain coverage. Bumper-to-bumper warranties, also known as exclusionary plans, cover most of your vehicle’s components from the front to the rear bumper. Powertrain warranties protect the essential parts of your car, such as the engine, transmission and drivetrain.
You can purchase an extended car warranty through a dealership or third-party provider.
Are extended warranties worth it for cars over 100K miles?
Purchasing an extended car warranty for your high-mileage vehicle can help you save money long-term and provide peace of mind. Vehicles are likely to experience problems after the 100,000-mile mark, which is why dealerships rarely offer manufacturer’s warranties that last this long.
You don’t have to choose the most expensive plan for coverage if your budget is tight. There are low- and mid-tier powertrain warranty options that you can choose from to avoid expensive repairs if your car breaks down. Here are average repair costs for a few essential car components, according to RepairPal:
- Engine control module replacement: $933-$1,012
- Power steering control module replacement: $827-$857
- Transmission control module replacement: $697-$760
- Head gasket replacement: $1,808-$2,098
If your car suffers a mechanical breakdown and is covered under warranty, you will only have to pay a deductible for covered auto repairs. Note that extended warranty coverage only handles mechanical or workmanship issues, not damage due to wear and tear or preventative maintenance needs.
Most extended auto warranty companies also offer extra benefits such as:
- Roadside assistance
- Trip interruption coverage
- Rental car reimbursement
Before you sign on the dotted line, read through your entire contract to understand what is included and covered under warranty.
Best extended warranties for cars over 100K miles
If your vehicle is still reliable at the 100,000-mile mark, you may want to consider getting an extended warranty to protect it for years to come. With so many third-party providers to choose from, it can be difficult to narrow down where to start.
Consider these factors when choosing an extended warranty company:
- Customizable options that best fit your budget and needs
- Additional perks
- Online reviews
- Better Business Bureau (BBB) ratings
Here are some leading providers that offer extended warranty coverage for cars over 100,000 miles: