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Super Cars: Determining Whether You Need Warranty and Insurance Cover or Not

“[A Bugatti Veyron is] quite the most stunning piece of automotive engineering ever created….At a stroke then, the Veyron has rendered everything I’ve ever said about any other car obsolete. It’s rewritten the rule book, [and] moved the goalposts” ― Jeremy Clarkson

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Source: https://www.carsales.com.au/car/performance-lifestyles/

We live in a world that is obsessed by speed, power, and beauty. Translated into vehicular terms, we love fast, powerful cars that look beautiful. Added to this, Owning a super car or high-performance vehicle is the dream of many a person.  Unfortunately, it is often an unattainable goal because of the expense that comes with owning and maintaining such a vehicle.

Let’s dream for a second! Are you determined to own a fast car such as a Ferrari, Lamborghini, Jaguar, Mercedes-Benz, or even a Bugatti Veyron? If so, apart from the extremely high purchase price, what are some of the costs involved in owning and maintaining such a vehicle?

What is a super car or high-performance vehicle?

Before we look at whether you need to purchase additional warranty and insurance policies to cover you against the risks of having to pay for costly repairs to your super car, let’s have a look at the definition of a high-end performance car:

According to Wikipedia.com, “a supercar is a luxury, high-performance sports car or grand tourer. The term is used in marketing by automakers for unusual, high-end vehicles, and…  limited-production specials from an elite automaker.

Additional warranty and insurance cover

All new motor vehicles are sold with a manufacturer’s warranty that lasts for a number of years (usually three years), with the aim of replacing or repairing major engine and body components should they fail within the first couple of years that the car is on the road. Comprehensive insurance cover, on the other hand, covers you against accident damage as well as the theft of our vehicle

Once the manufacturer’s warranty has expired, the onus is on you to shoulder the repair and maintenance costs. This is in itself a good reason why you should consider taking out an extended warranty plan (found on the Warranty and Insurance website). Some of the other reasons are as follows:

Prevents prohibitive repair bills

It is important to note that an extended warranty is not a service plan. In other words, it does not cover your vehicle’s scheduled services. It is structured along similar lines to the manufacturer’s warranty; ergo, if one of the car’s expensive components such as the transmission, drive train, and engine breaks, then this warranty will cover some or all of the cost to repair or replace the malfunctioning components.

Increases the value of your vehicle

An extended warranty shows that you have taken care of your vehicle. Broken or defective parts have been replaced by the manufacturer’s original parts instead of generic parts. This all adds up when you want to sell your car. A buyer is more likely to be interested in purchasing your motor vehicle if it has an extended warranty included in the sales bundle.

Final Thoughts

I believe that the importance (and advantage) of investing in an extended warranty for your vehicle is evident. To find the best prices contact Warranty and Insurance for quotes on suitable warranty and insurance policies..