Many programs help to alleviate surprise expenses from vehicle repairs and eliminate the need for auto repair loans:
New Car Warranties:
Most new cars are covered by manufacturer and dealer warranties for mechanical failures and recall fixes.
Extended and Used Car Warranties:
Extended warranty programs provide limited coverage for certain repairs for used vehicles. These warranty programs can extend an existing warranty or may be new warranties for older vehicles.
Collision Insurance:
Collision coverage is optional for most vehicle insurance plans, but it can be valuable. Collision insurance covers the cost, after deductibles, of repairing your car, as long as the damage was caused by an accident.
Without these programs, car owners may need to turn to a lender or creditor in order to borrow the money needed to get their vehicle up and running.