When it comes to your vehicle, extended warranty quotes can be pricey, but are they worth it? While a top rated extended warranty might seem like the best option available, there are plenty of reasons why extended warranties can actually be a huge waste of money. The Endurance Advantage car warranty may come with a lot of pros, for instance, but it might not be in your best interest to purchase an Endurance Advantage car protection plan, and here’s why:

1. Cost exceeding potential repairs
If the cost of your extended automobile warranty exceeds the estimated costs of the repairs that might be necessary during your warranty coverage, then the warranty is likely a waste of money. This is especially true if the warranty is exponentially more expensive than the rough costs of your vehicle’s potential future repairs. While we understand wanting to keep your vehicle safe and functioning for as long as possible, if you find yourself in a cost exceeding potential repairs situation, then it’s best to stay away from that extended warranty you’ve been eyeing.

2. Vehicle reliability
If you opt for a vehicle that’s knowingly reliable—even better if it has low maintenance costs—then an extended warranty may very well be unnecessary. It doesn’t make sense to waste money on something that goes unused, and this sentiment extends beyond just material items: it counts for warranties as well. As such, it’s important to do your research. If you know that your vehicle has been manufactured with fewer issues, then it might be a good idea to skip the warranty.

3. Resale value impact
There’s plenty of discussion about vehicle resale value and which factors affect it. Extended warranties, for instance, are often said not to add significant resale value to a vehicle. Bearing this in mind, it might be good to reconsider purchasing an extended automobile warranty if you are counting on it to make your car more appealing and valuable when it comes to future resale.

4. Changes in technology
What’s valuable now might not be valuable years, months, or even weeks from now. With so many rapid changes in technology, it might be useless to pay money for an extended automobile warranty. By the time your coverage period is over, for instance, there’s a potential that the value of your warranty might have depreciated, possibly significantly.

5. Manufacturer’s warranty
Thanks to manufacturer’s warranty—which is often included with the purchase of a new vehicle—extended automobile warranties are often rendered unnecessary. A manufacturer’s warranty will keep the vehicle covered for a certain amount of time or mileage, which is all that’s necessary for some vehicles.