Cheap Car Warranty

Key Takeaways:

• Your vehicle’s age, mileage, make, and model as well as your choice of coverage plan can affect extended car warranty costs.
• We found that Olive, CarShield, Concord Auto Protect, Endurance, and Toco all offer excellent coverage options at affordable prices.
• We recommend that you compare quotes from multiple providers in order to find the cheapest car warranty that’s reliable and fits your needs.

Whether you have a shiny new vehicle or a trusty used car, one thing’s for sure—auto repairs can be costly. However, extended warranty coverage can also be expensive. When choosing a coverage plan that meets your needs, it’s best to compare quotes from a few different providers.

Our review team has spent countless hours mystery shopping, researching, and studying customer reviews to find the best extended warranty companies with affordable coverage. In this article, we’ll go over the typical cost of extended warranties, the best extended car warranty companies that offer them, and tips for finding a cheap car warranty to help pay for costly car repair bills.

In our industry-wide review of the cheapest car warranty companies, our team researched the cost and plan offerings from various providers. We found that an extended warranty can be purchased for as low as $25 per month.

Cheapest Car Warranty Prices

The table below provides details on companies with some of the cheapest auto warranties ranked by the cost score given by our editorial team. We also included information on the most affordable plan offered by each company, along with the cheapest rates.

Our research team conducted an industry-wide review of the best car warranty companies and found several cheap car warranty providers that are worthy of your time. Our top picks for affordable options are Olive, CarShield, Concord Auto Protect, Endurance, and Toco. You’ll find an in-depth breakdown of each provider below.

1. Olive: Best Online Warranty

Over the past few years, Olive has made a name for itself with affordable rates and an easy claims process. The car warranty company is quite innovative, featuring a tool on its website that can calculate a car warranty quote within a minute. Olive is available in all 50 states and holds an A+ rating from the Better Business Bureau (BBB).

Olive Extended Warranty Cost

Our research team found that warranty plans from Olive range from $25 to $65 per month, depending on the level of coverage you choose. Most coverage plans come with a $500 deductible and require a first-month down payment.

The table below shows quotes we received from Olive for different extended warranty plans:

Most Olive warranty plans come with towing and rental car coverage but leave out roadside assistance and trip interruption benefits.

Olive Customer Reviews and Ratings

Olive has a mostly positive reputation across the internet. Despite this, it has virtually no presence on top review sites like Google and Trustpilot. While it holds an A+ rating and accreditation with the BBB, it has a 2.0 out of 5.0-star customer review rating from only 12 reviews.

CarShield is one of the most popular extended warranty companies on the market. Since its start in 2005, CarShield says it’s covered over 2 million vehicles and paid out over $1 billion in administrative claims. CarShield is an excellent choice for used vehicle warranties, as its contracts can cover cars for up to 300,000 miles.

CarShield Warranty Cost

CarShield is a good option for drivers who want coverage on a month-to-month basis. In our research, we found that CarShield monthly payment plans start as low as $100 per month. The table below shows quotes which come with an unlimited term length.

CarShield Extended Warranty Coverage

Though some of CarShield’s plan options spread the total cost over 24 months, CarShield also offers month-to-month payment plans. This means you can keep your coverage for as long as it’s convenient, which could help you save money.

In total, CarShield has seven coverage levels for consumers to choose from. One of which is a rare plan exclusively for EVs. Most CarShield aftermarket car warranty plans can be transferred, and we like how you can select a month-to-month contract.

See below for a more detailed breakdown of each plan.

Most CarShield extended warranty plans include perks such as:

• 24/7 roadside assistance
• Towing
• Rental cars
• Flexible payment plans
• Your choice of mechanic

CarShield Customer Reviews and Ratings

CarShield currently has a C- rating from the BBB due to unresolved complaints and reported instances of misleading advertising. However, CarShield has nearly 45,000 reviews and a 4.1- out of 5.0-star rating on Trustpilot. Positive reviews mention the ease of CarShield’s claims process and excellent customer experiences.

Read more: CarShield review

3. Concord Auto Protect: Best for Luxury Cars

Concord Auto Protect is known for cheap car warranties and straightforward coverage options. In our research, we found that drivers can save in multiple ways, including by paying upfront or by signing up for a payment plan.

Concord Auto Protect Warranty Cost

Quotes we received from Concord Auto Protect show that most plans tend to cost between $40 and $48 per month. Each quote below came with a $100 deductible.

Keep in mind, though, that your extended warranty costs will differ depending on the level of coverage you choose and your own circumstances. Your vehicle model, year, and mileage will also influence your total costs.

Concord Auto Protect Customer Reviews And Ratings

Concord Auto Protect has a solid customer review rating through Google, with 3.3 out of 5.0 stars from hundreds of reviews. While its Trustpilot rating is only 1.8 out of 5.0 stars, 79 percent of customer reviews are 5-star reviews. Concord Auto Protect’s BBB profile gives it an F rating with 3.8 out of 5.0 stars.

Read more: Concord Auto Protect review

4. Endurance: Best Coverage

Endurance has spent the last 18 years becoming one of the biggest names in the extended auto warranty industry. We think Endurance has the best coverage overall because it handles all of its warranties in house. Unlike the other options on this list, you won’t deal with a broker for coverage—Endurance is your direct provider.

Endurance Warranty Cost

Endurance warranties range from $125 to $145 per month depending on the level of coverage you choose. There are various term lengths available based on what exactly you’re looking for.

Endurance offers a long list of benefits, including roadside assistance through its Endurance Elite Benefits program. However, these are only included for the first year of your aftermarket warranty contract.

With any Endurance service plan, you can expect quick claims processing, identity theft protection, and free tire replacement or repair services. In addition, Endurance lets you select any repair shop certified by the National Institute for Automotive Service Excellence (ASE®), making the search for a vehicle repair facility fairly straightforward.

Endurance Warranty Customer Reviews and Ratings

Endurance is also our top pick because of its record for excellent customer service, with a relatively low volume of customer complaints. While Endurance previously had a B+ rating with the BBB, the company currently has not rated as it addresses complaints directed toward its advertising.

Over 3,000 customer reviews on the BBB website rate Endurance 3.6 stars out of 5.0. On Trustpilot, 74 percent of customer reviews are either four or five stars, giving the provider an average star rating of 3.6 out of 5.0.

Read more: Endurance warranty review

5. Toco

Toco is an extended warranty company that can be a strong choice for coverage, especially for those wanting to avoid paying an expensive premium. We found that its coverage is comprehensive and warranty reviews from customers are generally positive.

Toco Warranty Cost

Overall, we found that Toco warranty plans cost between $68 and $88 per month, depending on the level of coverage you choose. The table below highlights quotes we received from Toco for several different warranty plans.

Toco Customer Reviews and Ratings

Toco receives excellent customer marks despite offering some of the cheapest car warranties. The provider gets 4.1 stars out of 5.0 on the BBB and has both accreditation and an A+ score. Even better, Toco holds a 4.5-star rating on Trustpilot with 92 percent of reviewers offering it either four or five stars overall.

Extended auto warranties—also known as vehicle service contracts—are optional protection plans that cover repairs and replacement parts for your car after a mechanical breakdown.

The sections below will provide you with more information about extended car warranties.

How to Get a Cheap Car Warranty

When shopping for extended vehicle protection plans, there are a few steps you can take to reduce the cost of coverage:

1. Compare quotes from multiple providers. Most extended car warranty companies have online tools or other ways to contact customer representatives and get free quotes. Comparing quotes from several providers can give you a sense of coverage costs.
2. Ask about discounts. Most providers offer savings opportunities with varying eligibility requirements. Even if you don’t see a discount listed on a company’s website, it never hurts to ask.
3. Negotiate for a better deal. You can negotiate with car coverage providers for better rates, so don’t be afraid to haggle.
4. Read the contract. Hidden fees and complicated deductible policies may be hidden deep inside your warranty contract. Read all of the fine print to make sure you know exactly what your warranty covers and to avoid scams.
5. Purchase your warranty directly from a provider. Buying your coverage plan from a reputable extended car warranty company will save you money, as dealerships often mark up prices in order to make a higher commission.
6. Purchase it soon. The longer you wait to buy extended car coverage, the more costly it will likely get. Keep in mind that older cars with higher mileage are pricier to cover.

Factors That Affect Car Warranty Costs

Many providers don’t list their prices online because extended car warranty costs fluctuate due to a number of reasons. These factors include the following:

• Specific warranty plan: You’ll pay more for higher levels of coverage than for basic plans such as powertrain warranties.
• Vehicle age and mileage: Warranty coverage for old cars and high-mileage vehicles typically costs more than for new cars.
• Vehicle make and model: Luxury, exotic, and rare vehicles are more expensive to cover under warranty. In some cases, providers require you to buy specialized coverage for luxury cars with high repair costs.

Manufacturer’s Warranties vs. Third-Party Providers

Your manufacturer likely offers extended warranty coverage, but you typically can’t buy them past a certain date—often the day your limited factory warranty expires.

We recommend considering independent warranty companies because they offer much more flexibility in coverage options, prices, and mileage limits. For instance, if you’re looking for a used car warranty for your old Honda or Toyota, there are plenty of third-party providers that offer coverage for vehicles up to 250,000 miles.

Types of Extended Car Warranties

When deciding on the kind of coverage needed for your vehicle, you’ll come across two main types of extended warranties: exclusionary and inclusionary.

Exclusionary Car Warranty

Also referred to as a bumper-to-bumper warranty, an exclusionary car warranty covers the vast majority of components in your vehicle. This includes the engine, alternator, drive axle, transmission, electrical systems, and air conditioning.

Rather than a list of covered parts, these warranty contracts come with a list of exclusions, or parts that are not covered. Extended exclusionary warranties are usually the highest level of coverage a car warranty provider offers. However, keep in mind they’re also the most expensive, so explore other options if you want more specific protection for a better price.

Inclusionary Car Warranty

Sometimes called “stated-component warranties,” inclusionary car warranties provide a list of covered components in the contract. There are usually a few tiers of inclusionary coverage to choose from. Higher-tier inclusionary plans often have comprehensive coverage that’s not quite as extensive as an exclusionary plan. Lower-tier inclusionary contracts tend to resemble basic powertrain warranties.

In addition, some companies offer extended car warranty plans that specifically cover electrical components. These plans may be of interest if you’re a hybrid or electric car owner looking to avoid expensive repairs.

What’s Not Covered By an Extended Car Warranty?

Extended warranties generally don’t cover routine maintenance such as oil changes or tire rotations. Most warranties also exclude items like tires, belts, hoses, brake pads, and windshield wiper blades that are known to wear out, malfunction, or tear after continued use.

However, some providers offer warranties that include maintenance services, allowing you to pay upfront rather than at the shop. Another option is to purchase mechanical breakdown insurance from your car insurance company.

Extended Car Warranty Perks

The best car warranty companies typically include a number of additional benefits with their service plans, such as:

• 24-hour roadside assistance: This helps with battery jump-starts, flat tires, fuel delivery, and more.
• Towing services: If your car is inoperable, it will be taken to the nearest authorized repair station.
• Trip interruption coverage: Your meals and lodging will be reimbursed if you break down, typically when you’re 100 miles or more from home.
• Rental car reimbursement: If you need an alternate car while yours is in the shop, your warranty contract can help to cover some of the costs.

Cheap Auto Warranty: Q & A

Below are some frequently asked questions about the cheapest auto warranties:

Can you buy a car warranty after purchase?

Yes, you can purchase extended warranty coverage from a third-party provider at any time. If you want extended coverage from your car’s manufacturer, it must be purchased before the factory warranty expires. Keep in mind that many providers have a 30-day waiting period after your warranty purchase before you can file a claim.

Is an extended car warranty worth it?

Extended car warranties can offer peace of mind, especially if you’re concerned about paying out of pocket for expensive auto repairs. You should fully assess your vehicle and personal financial situation before determining whether to purchase extended coverage.

Are brakes covered under warranty?

In general, most warranties don’t cover brakes. Some extended car warranty companies do offer maintenance packages at an additional cost, so find a specialized extended warranty provider if coverage for wear and tear items and maintenance matters to you.

What is the cheapest auto warranty?

The cost of an extended car warranty depends on many factors. Independent warranty companies such as Endurance, CARCHEX, and CarShield—as well as autopom! and Concord Auto Protect—offer several levels of coverage that vary in price. Obtain quotes from several providers to find the cheapest auto warranty for your vehicle.

Methodology

Our review team prides itself on sharing accurate and unbiased information with consumers. We have accumulated data from dozens of extended auto warranty companies to formulate our rankings of the industry’s best providers. Companies receive a score out of 5.0 overall, as well as a rating in each of the following categories:

• Price: Comparing providers can be difficult due to the many factors that influence cost. To determine this score, we employ a secret shopper analysis using different vehicles, mileages, warranty plans, and locations.
• Coverage: A wide variety of coverage is essential to support the differing needs of customers. We take into account the number of extended car warranty plans available, term limits, exclusions, and additional benefits.
• Customer Service: The level of customer service and care provided by an extended warranty company is an important consideration. Our review team sifts through customer reviews and complaints from reputable sources such as the Better Business Bureau (BBB) and Trustpilot. We also consider the responsiveness of each company’s customer service team based on our secret shopper analysis.
• Reputation: Good extended warranty providers consistently provide quality experiences. Our team takes into account BBB ratings and the company’s history of reliable service when giving this score.
• Transparency: Customers value a commitment to open and honest communication when it comes to vehicle service contracts. Our team of experts takes into account the availability of money-back guarantees and sample contracts.