Novated Leasing isn’t just for employees of big business or Government as most people think. Any employee can benefit with a Novated Lease and there are huge savings to be gained from taking advantage of the tax benefits that this product offers.
Car Warranties Should You Buy
To be honest most people are more than wary about warranties of which always brings up the question “Car Warranties Should You Buy Them?” Most feel they are not worth the paper they are written on due to the difficulties in claiming or the quality of the actual product purchased as well as the price some warranties come out as. However, when it comes to car warranties “should you be paying that bit extra?” because let’s be honest, a car is a major purchase!
The Issue with Car Warranties:
Unfortunately, a lot of the issues that do arise come from people mistakenly taking a product guarantee and not a warranty because in fact they are two different coverages. With car warranties the issue arises because some car warranties are issued for free and yet others have a “price tag” that can give a real kick to the budget, costing a small fortune.
When it comes to an old car you wouldn’t pay out thousands of dollars on a car warranty, perhaps a few hundred for coverage would be an ideal investment though on a reasonable aged car.
Just comes down to what is real value. Car warranties only pay out IF there is a problem with the car, bit like an insurance policy. Having said that though, when picking up a car with a warranty, the seller must be confident the car will hold up because as they are the issuer of the warranty, if it breaks down, they are the ones that have to cover the replacement cost of the part in question. Just please make sure you take some time to carefully go over the warranty and how it works, what it replaces, carefully! This ensures you avoid any “problems” down the road.
Advantages of Car Warranties
The main advantage of car warranties is to protect you should your car suddenly break down, you can be confident your bank balance will be protected. Of course, you may well be tied to certain repair shops but the main point is, your car will be covered. As we mentioned above, you need to ensure what your warranty will cover. Including the fact that some car warranties do have a limited coverage, which highlights how important it is to deal with a reputable company.
Should You Purchase Extra?
That comes down to your personal choice and circumstance. Extended warranties for Cars with low value, in other words old, really are not that financially viable. You will also find most companies will not offer an extended car warranty for older vehicles. However, for newer cars or brand new, sure extended warranties simply give you that extra mileage in peace of mind should something happen. I Not everyone scores a “lemon” with a new car but it does happen!
Should you like to know more on extended warranties contact the NCLO team and we will point you in the right direction.
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