What is an Extended Service Contract?
Extended Service Contracts (ESC) are a great way to protect the investment you made into your vehicle. You may have received a warranty when you purchased your vehicle, but that warranty is only valid for a certain amount of time. This is where an extended service contract comes in handy. After that warranty expires you will be on your own unless you add further protection – a.k.a an extended service contract. To simplify, ESCs are recommended in order to protect yourself from costly car repairs after your manufacturer warranty has expired.
Is an ESC worth my money?
With the advances we have seen added to vehicles, the costs of repair have gone through the roof. With these increases to repair prices, we have seen that more and more individuals opt-in to adding an extended service contract. The question you should ask yourself is, “will the potential cost of a repair be more than the additional fee I am paying for an extended service contract?” Typically, the cost of a contract is justifiable in comparison to the cost you would pay to repair your car. ESCs are one of the best ways to protect the value of your vehicle. But, be cautious of the standards that your provider has. You will want to make sure the company you go through follows best practices.
How RefiJet can help
Refinancing is one of the best ways to reduce your overall cost and/or monthly payments on your auto loan. RefiJet works with many top-notch lenders to ensure you are receiving the best possible loan. Within the refinance process, RefiJet also offers the addition of an ESC. If you want to avoid the surprising cost of a repair on your car, adding an ESC may be a great option for you!