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What Are Kelley Blue Book Values?
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Determining the value of your used car requires more just than a rough estimate. When it comes to trading in your vehicle or selling it to a third party, accurate pricing is important. Without it, you run the risk of asking too much (and not finding a buyer) or selling it for too little. That’s where Kelley Blue Book values come in.
However, there are many different evaluation resources that you can use. These are known as “books.” Dealerships and car owners can use these books to evaluate their car’s value. Which one should you be using?
Today, we’re going to go over the most popular book, Kelley Blue Book. We’re going to take a look at what it is, discuss the values they give, and go over when to use a Kelley Blue Book estimate.
What is the Kelley Blue Book?
Kelley Blue Book began in 1926 and has become the standard for used car prices. Part of its popularity came from the fact that they used to publish a physical book that was blue, and it became widely used.
These days, the Blue Book lives at KBB.com, where it provides real-time evaluations of your vehicle. When you input all of the car’s information and details about its condition, you are given both the trade-in value estimate and the private party estimate. You’ll also receive a fair purchase price and pre-owned price (in case you’re the one looking to buy the car).
While they no longer distribute a physical book, the Kelley Blue Book remains the gold standard among consumers that want to learn how much their car is worth.
How Does Kelley Blue Book Reach Its Value?
Kelley Blue Book is vague on their website when it comes to the ways that they evaluate vehicles. Their exact algorithm is proprietary, which means that we can’t pick it apart. All we know is that it depends on data intelligence and uses predictive analytics and field analysis to come up with an estimate of your car’s price. According to their website, they use over 250 data sources to come up with their estimates.
We do know that Kelley Blue Book uses the make, model, mileage, and condition of various systems to come up with its value estimate. They also take into account the type of transmission, engine size, and any custom options that might increase the vehicle’s value. Of course, we can bet that they calculate depreciation, too.
Are Kelley Blue Book Values Accurate?
Generally speaking, Kelley Blue Book values can give people an over-inflated idea of what their car is worth. If you visit a dealership, the used car manager is not likely to agree to your Kelley Blue Book estimate.
Why is this? It’s largely because people overestimate the condition of their car when they’re using Kelley Blue Book’s tool. A small dent might not be worth mentioning to you, but an appraiser will certainly take note of it. Car dealerships primarily have to consider how much work will go into fixing the vehicle up so that it’s ready to sell, which is usually around $2,000.
Kelley Blue Book is a trusted tool for consumers, but dealerships don’t care what it says. They’ll use other tools, such as the Black Book and vAuto to determine what to offer you for your trade-in.
So if we’re strictly talking about dealerships, Kelley Blue Book values are not considered to be accurate. When it comes to private sales, though, Kelley Blue Book evaluations can be quite valuable. Private sellers and buyers both tend to use them when they’re navigating a deal.
When Should I Use Kelley Blue Book Values?
You should use Kelley Blue Book when you’re looking to sell your car to a private party. Since the person you’re selling it to has likely already run a report, as well, you can use these estimates as a starting point for your negotiations.
Ultimately, Kelley Blue Book is a lead generation tool for car dealerships. They do their best to evaluate their cars, but their income generator comes from selling your information to car dealerships or directing your traffic to a car dealership’s website.
Even though you may have been raised to think of Kelley Blue Book as the ultimate decision-maker when it comes to a car’s value, if you’re dealing with the dealership, you’re better off looking at the Black Book or vAuto. Save Kelley Blue Book for the times in which you’re selling or buying a car privately.
Keep in mind that CarEdge members have access to Black Book estimates so that you can be prepared for what a car dealer might offer you.
Keep in mind that CarEdge members have access to Black Book estimates so that you can be prepared for what a car dealer might offer you.
Interested in learning how people come up with car values? You can learn more about other evaluation books here.
Dealership F&I Office Glossary of Terms
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If you’ve bought a car before, you’ve experienced the “F&I office.” Shrouded in secrecy, the F&I office, which stands for Finance and Insurance, is one of the greatest profit making centers within a car dealership. F&I Managers can be some of the highest paid employees at a car dealership because they generate so much profit for the business.
That being said, many car buyers are confused when they enter the F&I office. The paperwork, the many products, a good F&I Manager’s sales tactics … They all make it challenging to get in and out of the dealership without having purchased something while in the F&I office.
We also wrote a guide for general car buying jargon that you might also enjoy: The Car Buyer’s Glossary of Terms, Lingo, and Jargon
One way you can feel more confident and comfortable in the F&I office is by understanding the jargon, slang, and lingo used by F&I Managers. That’s why we prepared this guide, our Dealership F&I Office Glossary of Terms.
Please bookmark this page to reference when you are at the dealership in the F&I office. Please also consider sharing this page on social media so that your friends and peers can be more knowledgeable about the car buying process as well.
Without further ado, let’s dive in!
Finance
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Buy rate (APR)
The buy rate is the interest rate that a financial institution quotes to a dealer when you apply for financing through the dealership. Your dealer may offer you an interest rate that is higher than the buy rate, which is referred to as the sell rate. Ask the F&I Manager, “Are you quoting me the buy rate?” When negotiating your financing options through a dealership.
Sell rate (APR)
The sell rate is the interest rate that the dealership quotes you for your dealer-arranged financing. When you submit a credit application through a car dealership, the dealer has the discretion to charge you more than the buy rate. Always ask the F&I Manager if your interest rate is the “buy rate” or the “sell rate”.
Approval
The approval is a document from a financial institution that shows you have been approved for a loan with specified terms and conditions. When you submit a credit application through a dealer, they are not required to show you your approvals from the various financial institutions they contacted on your behalf. You should feel comfortable to ask to see your “approval” so that you can confirm they are not marking up your loan.
3 bureaus
Equifax, Experian and TransUnion are the 3 credit reporting bureaus. Each company gathers data about your credit use to determine your creditworthiness and credit score.
Prepayment penalty
A prepayment penalty is a fee charged on an auto loan for paying off the entire balance of the loan before the loan term is complete. Most auto loans do not include prepayment penalties, however some can. Prepayment penalty protections vary from state to state, so be sure to understand if your financing option has a prepayment penalty or not before signing the dotted line.
VSI fee
VSI stands for Vendor’s Single Interest, and this fee may show up on your final bank contract when purchasing a vehicle. Typically no more than $100, the VSI fee is a cost passed on to you by the lender that protects the bank in the event that the vehicle they are providing financing for is damaged or destroyed.
Base payment
The base payment is the monthly payment you will be making on your vehicle without any additional add-ons or ancillary products. Ask your F&I Manager what your base payment is when finalizing your car deal.
Credit application
The credit application is a form that is typically completed online that car dealerships use to secure loan options on your behalf.
Subvented rate
A subvented rate is an interest rate that is lower than you could receive elsewhere because it is subsidized by the manufacturer in an effort to sell more cars. Zero percent financing offers are an example of subvented rate programs from auto manufacturers.
On approved credit
When you are negotiating a deal with a dealer, the salesperson may quote you monthly payments. You may see the salesperson or sales manager write “on approved credit” next to it. It simply means that this payment is only applicable subject to credit approval.
Lease
Money factor on a lease
The money factor is the basis for the interest portion of your lease. Money factors can be converted to interest rates by multiplying the money factor decimal by 2400.
Due at signing on a lease
The amount you will have to pay out of pocket upon initiating a lease. Many car buyers look for “zero down” leases, however a typical lease will include the first lease payment due at signing.
Residual value
The residual value is the percentage of the vehicle’s original MSRP that the leasing company expects the vehicle to be worth at the end of the lease term. The residual value is not negotiable and is set for each vehicle at each term (i.e. 36,000 miles and 36 months will have different residual value than 24,000 miles and 24 months). Many leasing companies rely on Black Book and ALG to determine their residual values.
Disposition fee
The disposition fee is a fee charged by the lease company to offset expenses associated with the lease return process. The lease disposition fee is typically waived if you lease another vehicle from the same leasing company.
Acquisition fee
The acquisition fee is a fee charged by the leasing company at the inception of the lease. This fee is not negotiable and it is set by the leasing company. The acquisition fee typically covers the leasing company’s expense to purchase GAP Insurance on the vehicle.
Insurance products
Extended warranties
Extended warranties are sold by manufacturers or car dealers, and they provide elongated warranty coverage on a vehicle. Extended warranties can only be sold by the manufacturer or the dealership selling a vehicle. Most extended warranties last for a short period of time, while longer coverages come in the form of vehicle service contracts. Read the full extended warranty guide here.
Vehicle service contracts
Vehicle service contracts are commonly referred to as extended warranties, however they are different. Vehicle service contracts are a contractual agreement between two parties (the contract provider and the customer), where the contract provider agrees to pay for any future repairs as stipulated in the contract. Many consumers purchase vehicle service contracts when thinking they are purchasing an extended warranty. Read the complete vehicle service contract guide here.
GAP Insurance (Guaranteed Asset protection)
GAP insurance is a policy that protects car buyers in the event their vehicle is totaled and they owe more money on the loan than the vehicle is worth. For example, let’s say you bought a brand-new Honda Civic for $20,000. You financed it and bought GAP insurance. The second you drive off the lot, you’re in a major accident that totals your car. Your insurance company pays you $15,000 for the totaled vehicle, but what about the remaining $5,000 that you owe? That’s where GAP insurance comes in. GAP insurance will cover the $5,000, plus it should (depending on your policy) cover any deductibles involved. It is advisable to purchase GAP insurance from your auto insurer or bank, but typically not from a dealership since they mark it up significantly. Read the complete GAP Insurance guide here.
Dent and ding coverage
Dent and ding coverage is a common insurance product sold to car buyers that provides protection from dents and dings. If you live in a city and you are afraid your vehicle may get a few small dents, dent and ding coverage would cover the cost of repairs instead of you paying out of pocket.
Tire and wheel coverage
Tire and wheel coverage is another common insurance product that pays for repairs and replacements to your tires and wheels. Be sure to ask if the coverage also covers cosmetic issues with the rims.
Exterior and interior protection
Exterior and interior protection products are add-ons that car dealers apply to their inventory without you asking. These protection products are already installed, but that doesn’t mean you can’t negotiate them.
Life insurance
If you pass away while you have your loan, this insurance will pay off the loan so that your estate does not have to. Although infrequently sold nowadays, you may come across this in an F&I office.
Accident and health insurance
Accident and health insurance provides coverage if you become disabled and cannot make your car payment. This is another product that is infrequently sold but you may come across it at a car dealership.
Excess wear and tear coverage (lease only)
Excess wear and tear coverage is only applicable for a lease and covers cosmetic issues at the time of lease return.
Lojack or similar tracking device
Lojack, and other anti-theft devices are frequently added to vehicles sold at a car dealership. Remember that these anti-theft products are taxable, which means they are negotiable!
Flat cancel
The period of time from the date of purchase of an insurance product where you will receive a full refund. After the flat cancel date you will receive a prorated refund. You can ask your F&I Manager, “What is the flat cancel on the tire and wheel protection?”
Negotiation
Menu-selling
Menu-selling is a sales methodology used by F&I Managers to present different products that can be sold in conjunction with the purchase of your vehicle. Menu-selling is prolific in the F&I office.
Two term menu
A two term menu is a menu that shows you how ancillary products would impact your payments for two different loan terms.
What is cancelable
Nearly every product sold in the F&I office is cancelable. What does this mean? It means that if you feel you made a mistake by purchasing a vehicle service contract, you can cancel it and receive a refund. Read your contracts carefully, but don’t let a F&I Manager tell you otherwise … Insurance products are nearly all cancelable.
Paperwork
Motor vehicle power of attorney
The motor vehicle power of attorney form allows the dealership to transfer ownership of the vehicle from the seller (dealer) to the buyer (you).
Application for title and registration
This is paperwork from the state that has all of your vehicle and owner information so that the state can provide you with your title, registration, and license plates
Mileage statements
This is a form that lists the vehicle by VIN and the exact miles that are on the vehicle when it is either traded-in or purchased.
We-owe
A form that dealership staff will complete and associate with your deal for anything the dealership owes the customer. For example, floor mats that the dealership owes you as part of the car deal.
You-owe
A similar form to the “we-owe” that lists anything the customer owes to the dealership. For example, the second key for a trade-in.
Errors and omissions statement
A form the customer signs stating that they agree to come back and redo paperwork if there are any errors or omissions at the time of completion.
Menu disclosure
A form you will sign in the F&I office stating that you were made aware of all the products for sale in the F&I office.
Misc.
Payment grace period
How many days the bank gives you from the due date where they won’t charge you a late fee.
Trade payoff date
When you are trading in a vehicle and you have an existing loan, you will need to request a payoff amount from the financial institution. The payoff amount has a “good until” date, this date represents the date by which the payoff must be made.
Days to first payment
When you originate a new loan you can choose to have your first payment made anywhere from 30 to 45 days from the date of origination.
Signer and co-signer
The signer is the main obligor on a loan. The co-signer is the secondary obligor. If the signer does not make their payments the co-signer is on the hook for the loan.
Personal guarantor
A personal guarantor is the person who guarantees a loan, oftentimes this is required for a business purchase.
Soft pull
Soft credit inquiries do not affect your credit score and are typically used to prequalify for an auto loan.
Hard pull
Hard credit inquiries typically require your authorization and do impact your credit score. Financial institutions run a “hard pull” to make a final decision on your loan application.
What did we miss? Please comment down below and let us know. We’ll update this page as requests are made. Thank you for being a part of the CarEdge community!
Hyundai Extended Warranty Review
Hyundai has increased its quality by leaps and bounds over the years. While they had a rough start, they are now well worth purchasing. Even so, manufacturer’s defects can still happen. That’s why we recommend purchasing an extended warranty. But is the warranty from Hyundai worth it? Find out in our Hyundai extended warranty review!
Today, we’re going to go over the Hyundai extended warranty in detail. We’ll discuss coverage options, compare the warranty to that offered by third-party warranty providers, and make our ultimate recommendation.
The Highlights:
- There are three levels of service under the Hyundai warranty that offer varying levels of coverage.
- You can select your term length, although Hyundai doesn’t spell out which increments are available.
- All repairs must be completed at Hyundai dealerships.
- We recommend the Hyundai extended protection plan.
Is It Worth Getting a Hyundai Extended Warranty?
Before we can talk about whether or not the Hyundai warranty is worth purchasing, we need to take a look at what’s covered by it.
The Hyundai vehicle service contract is managed by a subsidiary of Hyundai, meaning it is a fully backed service contract.
There are three levels of coverage available:
- Powertrain: At this level, as you might guess, coverage is only provided for the engine, transmission, and drive axle.
- Gold: This plan covers everything above and adds climate control, shocks, front and rear suspension, the fuel system, and the electrical system.
- Platinum: Taking the coverage further, this plan offers everything above, along with coverage for steering, brakes, CV boots, navigation, audio, and high-tech features.
All repairs must be completed at a Hyundai dealership and will be done with genuine Hyundai parts. The limitation in where you can take your vehicle might be worth it, since you’ll always receive genuine parts for your repairs.
Every vehicle service contract that Hyundai offers only covers manufacturer’s defects. There is no coverage for issues related to abuse, misuse, or neglect.
All three kinds of plans come with a number of enticing perks, as well, which include:
- Trip interruption coverage of up to $200 per day for up to 5 days
- Rental car reimbursement, including up to $35 per day for up to 10 days
- 24/7 roadside assistance, including towing to a Hyundai dealership or authorized service provider
It’s worth noting that there are several variations on these plans that are based on the ownership status of the car. Lessees and original owners receive everything mentioned above. Hyundai certified pre-owned programs have everything above, with the exception of the Powertrain coverage option. CPO vehicle service contracts are also transferrable. Hyundai does not explicitly state whether or not original ownership plans are transferable.
All Hyundai warranty options have several options when it comes to their term lengths. Hyundai doesn’t mention what options are available, but they say “up to 10 years and 100,000 miles.” We assume that there are preset increments that you can choose from.
We should mention that Hyundai offers an add-on to their plans called Term protection Plus. This plan is essentially a prepaid maintenance program and will cover wear and tear, unlike the standard Hyundai extended protection plans.
Notice that we aren’t discussing prices in our Hyundai extended warranty review? In a previous post, we talked about why prices vary from car to car when you purchase a warranty. The cost of any vehicle service contract is based on the VIN and mileage of the car being covered. As such, we can’t discuss the cost for this or any other service plan.
So is the Hyundai extended warranty worth it? We’d say so. There’s nothing special or fancy about it, but that’s not necessarily a bad thing. It looks like a standard extended warranty that will cover you in case of manufacturer’s defects. It’s worth getting a quote and comparing it with other options.
Hyundai Factory Extended Warranty vs. Third-Party Extended Warranty
Most third-party extended warranty providers try to mimic the coverage options of the automakers’ warranties. As such, you can expect similar coverage among most providers.
The vital difference between a Hyundai extended warranty and a third-party extended warranty is where you can take your car to have your repairs done. Hyundai warranties require that you take your vehicle to a Hyundai dealership. Third-party warranties typically allow you to take your vehicle to any shop that is licensed by AAA or ASE.
You’ll need to decide if this difference is important to you. If you live far away from a Hyundai dealership, it might be a deal-breaker.
We suggest that you obtain a number of quotes and compare the coverage options and cost. If everything else is equal, then consider the distance between you and a dealership.
What is Covered Under a Pre-Owned Hyundai Extended Warranty?
All Hyundai certified pre-owned vehicles are eligible for a Hyundai extended warranty. They have a special offering for CPO vehicles. It is nearly identical to what’s available for original owner warranties, except that there is no powertrain option for a pre-owned vehicle.
The only other difference is that Hyundai explicitly states that the pre-owned warranty is transferable. They do not state whether or not there is a fee associated with this. Either way, being able to transfer your vehicle’s warranty increases your resale value on the car.
Do We Recommend a Hyundai Vehicle Service Contract?
What’s the ultimate outcome of our Hyundai extended warranty review? We do recommend considering a Hyundai extended warranty. They offer standard coverage with standard perks, and there’s nothing wrong with that. There’s nothing that jumps out as concerning.
We suggest contacting third-party warranty providers and obtaining quotes to see how they vary and if a third-party option might be better for you.
If you are interested, we offer vehicle service contracts through our trusted vendors. Our VSCs have clear coverage and transparent pricing. We even offer a free consultation call to help you pick which warranty is best for you, even if you decide not to go with us. Reach out to us to plan the consultation call or request a quote today.
Infiniti Extended Warranty Review
Infiniti is known for crafting luxurious cars that provide a smooth ride. While they take pride in their work, mistakes do happen. That’s where extended warranties come in. These warranties protect you from manufacturer defects and prevent costly repair bills. While you might not want to buy one from a dealership, we still suggest that you purchase an extended warranty to protect your car. Is the Infiniti warranty any good? Check out our Infiniti extended warranty review to find out!
Today, we’ll explore the Infiniti extended warranty in detail. We’ll go over what’s included in the plan, compare it to third-party options, and make our ultimate recommendation.
The Highlights:
- They don’t make their component coverage list available on their website for the new vehicle plan, so make sure that you obtain this list before signing any papers.
- There is only one level of coverage for each type of vehicle, certified pre-owned or new.
- All repairs must be completed at an Infiniti dealership.
- We recommend the Infiniti extended protection program.
Is It Worth Getting an Infiniti Extended Warranty?
We shouldn’t discuss whether an Infiniti extended warranty is worth getting before talking about what’s included in the warranty.
Infiniti offers one extended warranty option with two deductible options. They do not disclose the deductible amounts on their website, so make sure to have a firm understanding of their costs before signing any contracts.
The Infiniti extended protection plan allows you to choose your term lengths, all the way up to eight years or 120,000 miles.
What’s actually covered under the plan? All that Infiniti discloses is that it covers over 1,650 components. They do not make a comprehensive list available. You absolutely should obtain and look over the list of covered components before signing up for their warranty.
While they don’t directly state this on their website, we are willing to bet that there will be no coverage for any issues related to abuse, misuse, or neglect. You should clarify the terms of coverage before making your purchase, as well.
All repairs must be completed at an Infiniti dealership. While this can be frustrating, it also means that the repairs will be completed by Infiniti’s trained technicians who will use genuine parts.
The Infiniti extended warranty comes with the following perks:
- 24/7 roadside assistance, covering battery jumpstarts, lockouts, fuel delivery, and tire service
- Long-distance towing (up to 250 miles) to help you get to an Infiniti dealership
- Trip interruption benefits of up to $500 per incident if issues occur when you are more than 100 miles away from your home
We’ll discuss this more later on, but there is a separate plan for Infiniti certified pre-owned vehicles. It’s similar, but there are some differences.
Note that we’re not discussing prices in our Infiniti extended warranty review. In a previous post, we broke down why vehicle service contracts vary based on VIN and mileage. No two cars will have the same price. As such, you’ll need to obtain several quotes to determine which program is right for you.
Infiniti Factory Extended Warranty vs. Third-Party Extended Warranty
Most third-party extended warranty providers do their best to mimic automakers’ warranty plans. The core difference between these plans is where you can have your car repaired.
If you have an Infiniti vehicle service contract, you’ll have to have your vehicle repaired at an Infiniti dealership. Since they offer long-distance towing (up to 250 miles) to help you get there, this isn’t as much of a drawback as it may be with other providers.
Still, you might want to have repairs completed at your favorite auto shop. In that case, you’ll need a third-party warranty. Most third-party warranties will allow you to have your repairs completed at any repair shop that is licensed by AAA or ASE.
We suggest that you obtain several quotes and compare costs and coverage before making your decision. Keep in mind that having your car repair repaired by Infiniti-trained technicians and using genuine parts can go a long way towards extending the life of your car.
What is Covered Under a Pre-Owned Infiniti Extended Warranty?
Known as the Certified Pre-Owned Wrap Extended protection Plan, this is Infiniti’s coverage available for pre-owned cars. There are some differences between this plan and the standard extended warranty.
One of the first differences between the two plans is that you can cover your vehicle for up to eight years and unlimited miles with the pre-owned plan. There is no unlimited mileage option for new car warranties.
Infiniti also includes a comprehensive list of what’s covered under your program. It’s quite thorough and is made available on their website. To save you some time, we’ll just say that it covers most major components of your vehicle.
Unlike the new car warranties, there is no deductible for repairs on the CPO Wrap plan.
Ultimately, it looks like the Infiniti CPO Wrap Extended protection Plan is more tempting than the plan made available for new vehicles. We aren’t sure why they decided to do this, but we’ll call it a good thing. It makes buying an Infiniti certified pre-owned vehicle that much more tempting.
Do We Recommend an Infiniti Vehicle Service Contract?
So what’s the outcome of our Infiniti extended warranty review? We do recommend the Infiniti vehicle service contract. While we wish the component coverage list was available on the plan for new vehicles, we still think it’s a worthwhile purchase. You should still explore third-party options to see if you can secure a better price with the same coverage, but if not, the Infiniti plan is worthwhile.
If you’re looking for another option, we offer vehicle service contracts through our partners. Our options have clear coverage and transparent pricing. We even include a free consultation call to help you decide which plan you should go with, even if you don’t go with ours! Reach out to us today to schedule a consultation or request a quote.
Jaguar Extended Warranty Review
Jaguar is the ultimate name when it comes to luxurious vehicles for automobile enthusiasts. While they certainly create a quality vehicle, mistakes still happen in manufacturing. Having an extended warranty can help to prevent you from having an expensive repair bill. But should you buy it from Jaguar? Before you decide, look through our Jaguar extended warranty review!
We’re going to cover the Jaguar extended warranty program today. We’ll go over what’s provided by their coverage, compare it to third-party options, and make our ultimate recommendation.
The Highlights:
- They only offer one plan, although buyers can select their term length.
- The warranty must be purchased before your factory warranty expires.
- All warranties start from the vehicle’s in-service date.
- We are neutral towards this program, as Jaguar does not make enough information available on its official website to make a fully informed recommendation.
Is It Worth Getting a Jaguar Extended Warranty?
We need to explore the Jaguar extended warranty before deciding if it’s worth getting or if you should skip it.
Only one plan is made available on the official Jaguar website. What’s covered? The coverage under the Jaguar extended warranty is similar to the standard factory warranty that comes with any new car. Coverage includes:
- Infotainment systems
- Steering
- Air conditioning
- Supercharger/Turbocharger
- Electrical systems
- Diesel injection system
- Fuel system
- Braking system
- Suspension
- Catalytic converter
- Propshaft
- Suspension
- Axles and transfer box
- Manual and automatic transmissions
- Powertrain control unit
- Engine components
This is by no means an exhaustive list; this is just what’s made available on the Jaguar extended warranty website. You should ask for a comprehensive list of every covered component before you make your purchase.
Every Jaguar vehicle service contract comes with a number of key benefits, as well, which include:
- All repairs will be done with genuine Jaguar parts.
- Claim limits up to the purchase price of your Jaguar apply.
- Travel protection is provided when you’re away from your home.
- Jaguar Assistance can be included, which is their name for the roadside assistance program.
The Jaguar extended protection plan comes in a variety of term lengths, although the exact intervals are not disclosed. All term lengths start from the original in-service date. This means that if you purchase a seven-year warranty and your car is four years old, you’ve only added three years. This is standard practice.
You’ll need to purchase the Jaguar extended protection program before 30 days or 1,000 miles of the factory warranty expiring. That means that you don’t need to buy it when you buy your car, which is important.
On the Jaguar official website, they do not mention deductibles. We looked at individual dealerships to see what deductibles they mention, and there is no common consensus. Some say there is a $100 deductible, while others say it’s $250. This means that you’ll need to clarify the deductible when you buy your vehicle. Either way, there is most likely a deductible.
Notice that we’re not discussing prices in our Jaguar extended warranty review? That’s because, as mentioned in an earlier post about vehicle service contracts, prices are determined based on your VIN and mileage. This means that no two Jaguars will have the same price for a Jaguar extended warranty.
So what’s the final call? Is it worth it? We are neutral towards this warranty. Jaguar simply doesn’t make enough information publicly available about their extended warranty program for us to give it a strong recommendation. You’ll need to contact your local dealership to ask about coverage and deductibles.
Jaguar Factory Extended Warranty vs. Third-Party Extended Warranty
Third-party extended warranties often try to mirror automakers’ extended warranty coverage. This results in similar coverage between the factory-provided warranty and a third-party warranty. However, there is one key difference: Repair options.
With a Jaguar extended warranty, you’ll need to take your vehicle into a Jaguar dealership to have repairs done. While this seems like a drawback, keep in mind that this means you’ll have Jaguar-trained technicians and genuine Jaguar parts used for any repairs.
If you opt for a third-party warranty, you’ll most likely have a much wider network of repair shops that you can visit, including your favorite mechanic. Most third-party warranties will work with any repair shop that is licensed by either AAA or ASE.
What does all this mean? You’ll need to obtain several quotes from different third-party providers and from Jaguar to determine which option is the best fit for you. You’ll need to compare coverage and costs, along with the network that you have for repairing your vehicle.
What is Covered Under a Pre-Owned Jaguar Extended Warranty?
Jaguar does not make any special mention of coverage for Jaguar certified pre-owned vehicles. This could be because their CPO program is quite limited to begin with. Either way, if you currently own or are planning to buy a Jaguar CPO, you’ll need to ask the dealership which options are available to you.
Do We Recommend a Jaguar Vehicle Service Contract?
So what’s the conclusion of our Jaguar extended warranty review? We are neutral towards the Jaguar vehicle service contract. While there are plenty of areas that look worthwhile, Jaguar doesn’t make that much information available about their extended warranty program. As such, we can’t give it a strong recommendation.
We suggest that you shop around for different third-party warranties alongside the Jaguar extended protection program. Compare their costs and their coverage. You might discover that the Jaguar program is right for you.
If you need some help, we’re here for you. We offer vehicle service contracts through our partners. All of our VSCs have transparent pricing and clear coverage. We even offer free consultation calls to help you decide which option to pick, even if you don’t go with ours! Reach out to us today to schedule your consultation.
