Choosing whether to carry an umbrella or not on a rainy day is similar to deciding if you want an extended auto warranty. It could be the difference between a complete lifesaver and just another thing you have to carry. These warranties are there to help you when car repairs hit harder than a sudden hailstorm. But are these warranties as necessary as they claim they are? Discover more.

Imagine the following: you are driving your prized car and suddenly your check engine light blinks. Ugh. This is not your problem, tho zugh, if the warranty covers you. Nevertheless, if you don’t have one, this single light will drain your pocket faster than anyone can say, “car repair!”

What are the most common warranties? The warranty will often cover the major components of your car, like the engine, transmission, or some electrical system. Here’s the problem: they rarely cover wear and tears items such as brakes or tires. If you’re expecting the policy to cover any and all problems with your vehicle, you may be looking in the wrong place.

What about the money now? Costs of extended warranties may be expensive. I mean, they can cost as much or more as the beater car. Why pay for something that you might not use? It’s almost like buying Texas swampland, doesn’t?

Now here’s a surprise. Unhappy, a friend of mine paid for a warranty extension. In a few months, the transmission of his car decided to go on a spontaneous vacation. The warranty is it? The warranty covered everything. He changed from skeptics to advocates faster than you can say “I warned you so.”

Salespeople at dealerships are also known to use a lot of flattery. They use pictures to show catastrophic engine failures. These are conveniently combined with stories of horrifying repair costs. To lure you into their trap, they tell stories like fishermen who boast about the catch that escaped. Not all of these people have your interest in mind. It is their job, not yours, to sell you a warranty.

Customer reviews are also important. Be prepared to navigate this world like a cat herder. Some swear by their extended warranties and others curse the moment they signed them up. It is often down to the specifics of the coverage, and most importantly, the reputation behind the company.

A little research is always a good idea before making a purchase. It’s a good idea to check out the Better Business Bureau for red flags. How about checking online reviews as well? You can treat it as a treasure hunt. If you notice a pattern in the feedback, it’s likely that people are primarily complaining about denials.

Consider the following scenario. Sally’s new SUV was not covered by an extended warranty. Unfortunate circumstances led to her engine failing. Her repair bill? A staggering five grand. She’s in a bad mood. Jake bought an extended warranty. When his air conditioner failed in the peak of summer, Jake probably danced when he did not have to pay for repairs.

A car warranty extension can give you peace of heart, and even a little extra money in your pocket. The warranties aren’t a universal solution. Some people wouldn’t dream of paying the money out, preferring instead to play the odds. Others can sleep easier at night knowing their car is covered in the event of a “rainy day”.

Weigh the pros versus cons when deciding if an extended warranty is right for you. Remember, this is your hard-earned dollars. Keep an umbrella on hand, even if there is no rain. You can either take your chances or you can choose to keep an umbrella handy. Whichever option you choose, it should leave your behind the wheel feeling as snug as a cockroach in a rug.