VSC Benefits

Much like life insurance, a major benefit of vehicle service contracts is the peace of mind they offer to consumers looking for protection today against tomorrow’s unknowns. Unexpected repairs can take a toll on anyone’s pocketbook, especially in an unstable economy. Knowing that those unexpected repairs will be taken care of, no matter what your future financial position, is a huge burden off many consumers’ minds.

Below is a list of the Top 5 additional benefits of purchasing a vehicle service contract:

1. Your investment is protected

Although not everyone owns a home, most Americans do own at least one vehicle. In fact for many Americans, their car is their most important asset – vital for work, children, appointments, and groceries. The comfort in knowing that you won’t be struck with financially debilitating and unforeseen repair costs and the temporary loss of your most vital investment makes protecting that investment priceless. Additionally, labor rates have risen by an average of $20 per hour in the past 3 years. A vehicle service contract helps to offset rising repair costs at an affordable price by protecting your vehicle against tomorrow’s repair bills at today’s prices.

2. Reliability on a budget

Vehicle service contracts often allow consumers to make payments over time, so that expensive car repairs can be fit into tight budgets. An initial payment is normally required to start coverage, and payment options vary, but consumers can almost always find a contract with payments that fit their needs and budgets. Additionally, claims adjusters often specialize in automotive repair and have access to various databases, ensuring you receive a fair assessment of your vehicle’s failure and a fair price for repair of any covered components. Typically, reimbursement for repairs is paid directly to the repair facility, less the deductible, eliminating the burden of large and unanticipated out of pocket expenses.

3. Your vehicle may perform longer

The protection of a vehicle service contract covers many different parts of a vehicle that may go beyond a manufacturer’s warranty, depending on which type of contract you purchase. Coverage of these vital components means they will receive the service they need to ensure a longer lifespan and more reliable performance.

4. Your unexpected ownership costs may be reduced

Owning a vehicle comes with a lot of associated costs. Today’s struggling economy has forced many consumers to look for ways to cut costs. For many, this means stretching out the length of their auto loan in order to lower their monthly payments. With a vehicle service contract, your monthly payments already include coverage of some of your repair costs, meaning there are fewer unexpected costs that come with owning your vehicle.

5. Your vehicle’s value increases

Many vehicle service contracts will allow you to transfer ownership of the contract along with the vehicle. Having an auto service contract to include with the purchase can make your vehicle more attractive to a prospective buyer. Passing along peace of mind to another driver is one of the best ways to ensure sales success.