Cars age just like people do, albeit with fewer tears and less Botox. Once your car becomes a “high-mileage” vehicle at around 100,000 miles, you’ll begin to notice that things just aren’t as they once were. Your engine knocks a little more loudly. Your windshield is speckled and pitted. And that darn glove box just won’t stay shut.
If this sounds familiar, you may be looking at an extended warranty for cars over 100k miles. In this guide, we’ll learn whether such warranties exist and whether you should get one.
What is an Extended Warranty for High-Mileage Vehicles?
When you purchase an extended warranty for cars over 100k miles, it will work in much the same way as your original manufacturers or extended warranty did. The warranty is a service contract that allows you to receive free, discounted, or reimbursed repairs for your car.
With that said, an extended warranty for a well-loved car may not protect you in the same way your original warranty did. There are items that may not be covered, and the coverage you do get may be a bit less thorough now that your car is older.
Still interested in looking at warranties for your aging vehicle? Let’s look at what high-mileage warranties cover, and whether this type of warranty is right for you.
What Do High-Mileage Warranties Cover?
As we mentioned, and as you know, your car is slowly beginning to show signs of its age. That’s normal. It’s natural for vehicles to experience wear and tear. However, it will likely be reflected in your extended warranty.
Your manufacturer’s warranty was most likely a bumper-to-bumper warranty, which means that everything from the suspension to the seatbelts could be replaced or repaired at no or minimal cost to you. Now that your car is older, any extended warranty you purchase will usually not cover those details.
An extended warranty for cars over 100k miles will generally cover the following:
- Engine components
- Transmission
- Electrical system
- Drive axles
- Suspension
- Steering
While your high-mileage extended warranty doesn’t cover the smaller repairs that could become necessary, this type of warranty could still be invaluable to you. Transmission repairs, engine repairs, and other repairs are undeniably expensive, and a warranty could help offset that cost.
How Much Does a High-Mileage Warranty Cost?
The average extended warranty for a vehicle ranges in cost from around $300 to $700 per year. This will vary depending upon the contract provider, your vehicle, and other factors.
There are quite a few warranty providers out there, which means they’re willing to compete for your business. With that in mind, be sure to shop around for the best coverage, then shop some more. It’s not unheard of for a provider to price match a competitor in order to gain your business.
When comparing your quotes, be sure to pay attention to:
- The upfront cost
- Any “hidden” costs
- Deductibles for repairs
- The expiration term (miles and years)
- The actual coverage you’ll receive
Remember that your extended warranty will likely not cover routine maintenance. New tires, oil changes, and other costs of vehicle ownership will be your responsibility.
Do I Need a High Mileage Warranty for Cars Over 100k Miles?
To determine whether you’ll need an extended warranty for cars over 100k miles, you’ll need to do some quick math.
First, consider the value of your vehicle. What would it cost to replace your car? If you’re driving around in a Civic you paid $1,000 for, it may not be economically responsible to purchase a $700 policy.
If you’re the type of person who drives a vehicle into the ground, however, an extended warranty may be for you. This is particularly true if you can’t necessarily easily afford upfront costs associated with transmission repairs, engine repairs, and other repairs that may arise. Your warranty can cover those expenses and keep you on the road for another few thousand miles.
Whether you purchase an extended warranty for cars over 100k miles is ultimately up to you, of course. Be sure you factor in all the costs of the warranty including deductibles and monthly payments before you make your final decision.
Conclusion: Extended Warranty for Cars Over 100k Miles
As your vehicle ages, you’ll find that the mechanical components begin to show signs of wear. An extended warranty for high-mileage vehicles may be a good option for you if you intend to keep your car for a few more years. These warranties generally cover the most common and expensive repair work, which can provide you peace of mind as your car gets older.
