A prepaid maintenance plan can help you cover routine services like oil changes, belt replacements, and inspections.
How much does an oil change cost? That’s the first thing many car owners think of when it comes to regular maintenance. Depending on your vehicle and where you go, a routine oil change can cost around $100 these days.
Key Points of Prepaid Car Maintenance
A prepaid car maintenance plan is different from a warranty. New car warranties help you if a major repair comes up during the warranty period. Prepaid car maintenance is a preventative measure to ensure that your vehicle is getting the routine maintenance it needs to function properly.
Car maintenance plans usually aren’t advertised, so the best way to find out about them is to talk to your local dealer. The plans tend to vary based on the age and model of the vehicle. The purpose of a prepaid car maintenance plan is to cover the cost of routine maintenance services for a specific period.
What Is Covered By Prepaid Car Maintenance Plans?
Car maintenance plans typically cover routine services like oil changes, belt replacements, tire rotations, inspections, brake pad replacements, windshield wiper replacements, and spark plug replacements. Most automakers offer more than one level of coverage. Some are designed for new vehicles, while others are for used cars.
For example, Toyota offers its Care Plus plan for vehicles that have 31,000 miles or less, and it covers a range between 3 years/35,000 miles and 5 years/75,000 miles. On the other hand, the Toyota Auto Care plan is for used vehicles and covers 4 years or 55,000 miles.
Advantages of Prepaid Car Maintenance Plans
Before you decide to buy a car maintenance plan, you should know what you’re getting. Start by figuring out your vehicle’s expected maintenance costs and compare them to the price of a prepaid maintenance plan. One advantage of a prepaid plan is that the prices may be discounted compared to prices you would pay on the street. They’re also locked in.
A prepaid maintenance plan is also convenient for many people. You won’t have to fuss over when your next service is due, your dealership will contact you when your car is due for a routine service. Most plans can be transferred to a new owner for a fee.
Prepaid Maintenance Plan Drawbacks
There are some drawbacks to consider about these plans as well. In many cases, the only place you can get your prepaid maintenance done is the dealership where you bought your car. Sometimes a prepaid plan is more expensive than what you need for your particular car.
Some plans have coverage exclusions that will lead to more out-of-pocket expenses when you must repair or replace certain things. Some prepaid plans also have longer service intervals than your manufacturer recommends.
Are Prepaid Maintenance Plans Worth It?
Depending on your situation, your vehicle, and where you live, a prepaid plan may or may not be worth it. For example, if you live in Washington, it’s one of the priciest states for car repair, but North Dakota is one of the cheapest. It’s best to research the average cost of repairs for your vehicle in your state, and if the prepaid plan is less, then it may be worth it.
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