An extended auto warranty is something every driver would like to have, whether the vehicle is new or used. Recently, several studies have shown that purchasers are so satisfied with quality extended warranties that they return to the same dealership to purchase their next car. In addition, the dealership gets that customer’s shop business during the life of the car. Those who want an extended auto warranty have many reasons. First, the economic slump has caused many to retain their automobiles longer than in the past. On top of that, cars now last longer than they did even a decade ago.
Industry experts have studied this new phenomenon and concluded that used car buying is on the verge of being revolutionized by the concept of the longer warranty. Less than a generation ago, used cars came with a 90-day warranty, at most, and were considered a huge gamble for many buyers. Not so in this modern era, where major car companies are offering extended warranty protection for cars, in some cases up to 100,000 miles. Consumers are not standing still, having gotten used to car makers like BMW and GM offering certified used cars that have passed extensive inspection. In fact, the extended car warranty business has boomed.
Once, independent warranty companies did a booming business selling extended coverage to car buyers. Now, the dealer chains themselves are competing for a piece of this market. It is especially lucrative to the dealerships because it spells repeat business, shop profit, and happy customers.
In a monetary sense, it is impossible to quantify the value of a repeat customer, but rest assured that the large car dealerships look at such buyers as solid gold. It just makes sense. If a buyer likes the warranty, and is happy with the maintenance department, then that customer will be back. What these recent academic studies have shown is that the warranty is key to customer satisfaction.
Regardless, customers are demanding longer auto warranties. The reasons may vary from buyer to buyer, and from dealer to dealer, but the fact remains that the used and new car industry will soon look nothing like the recent past. The era of the 90-day used car warranty, and the 5-year new warranty, is long gone.
To protect your investment, get an extended car warranty. For a wide variety of coverage plans visit http://endurancewarrantyservices.com.