Where do you go from here?
Where do you go from here?

Finally, the long sales process has come to a close. But as soon as you and the salesperson agree on the price of the vehicle, you realize that you’re about to be transferred to the Finance and Insurance manager. Meeting with a Finance and Insurance manager can sometimes be equally, if not more, stressful than negotiating a deal on your car. When the F&I manager asks you to consider an extended warranty, consider this before signing:

  1. How long you plan to have the car for. If you’re a person who likes to have the newest car and trade it in for an upgrade after a few years, the extended warranty will most likely not matter to you. Don’t purchase it if you’re not very likely to use it.
  2. If the car has a history of being involved in accidents. Get the CARFAX report. Look to see if it has been maintained. How a previous owner treated the car might have an impact on how long the car will last. If it’s likely that you’ll need more extensive repairs in the future, an extended warranty might be the right option for you.
  3. What the F&I manager offers you might not be the best price. Shop around BEFORE you get into their office. Much like an insurance rate, you might be able to find a better deal on your extended warranty somewhere else by doing a little extra research.
  4. The company that will handle the warranty. If the warranty is covered by a less-than-reputable company, it might not be in your best interest to go with them, even if they offer the cheapest rates.

Ultimately, trust your gut. If you know you’ll be more comfortable if you have the extended warranty covering you, then it might be worth the extra cost. Just don’t feel pressured into agreeing to something that you don’t want or need, no matter how good of a salesperson the F&I manager is!