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Consumers Look to Protect Investments through Extended Warranties
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Added: 06/22/2006
Type: Summary
Viewed: 204 time(s)
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Consumers Look to Protect Investments through Extended Warranties
The automobile industry is seeing the sales of extended warranties jump as consumers become increasingly more aware of the need to protect their investments as they hold on to cars longer.
“I plan to give this car to my son in a few years when he is old enough to drive, so I need to make sure I keep it running,” Joseph Melillo, 36, Island Heights, NJ explains. “This is the first time I ever bought an extended warranty,” he continues holding an extended warranty for his Mercury Mountaineer.
Melillo, like many other consumers is moving away from the mindset that he does not plan to own the car long enough to need the extended warranty. “Car owners are realizing that they can’t predict how long they will actually own their vehicles and they are also realizing that extended warranties more than pay for themselves,” Richard Reynolds, GM, Griffin Ford explains.
“The reality is if you need only one or two repairs over the course of the life of your vehicle, the warranty pays for itself. Add in the fact that the warranty adds to the resale value and it has become a no brainer for many car owners,” Reynolds states.
With new and used car prices skyrocketing and being owned well beyond the expiration of the original warranty, consumers are looking to protect their investments. “I blew by my mileage allotment in ˝ the years the warranty was for,” Melillo offers as explanation to purchasing an extended warranty.
Many car companies like Ford, Mercury and Lincoln have extended warranty programs that include the ability to have the vehicle serviced in any dealership in the country which puts domestic travelers at ease. “Ford, Lincoln and Mercury owners have the peace of mind that comes with having a warranty that is good anywhere they go in the country,” Reynolds states.
With consumers showing concern for longevity and protecting their investments in cars, homes and other big ticket items, the warranty and insurance industries are seeing an increase in sales. Retailers with a presence online are finding the biggest increase in sales, including Ford, Lincoln and Mercury extended warranty retailers like Griffin Ford.
About us:
Discount Ford Warranties offers a diverse selection of discounted Ford warranties, Lincoln warranties and Mercury warranties. The warranties offered include various levels of protection, mileage options and durations.
Discount Ford Warranties’ website offers comprehensive information regarding the extended warranties available for sale through the site.
Griffin Ford of New Canaan
Pat Onorata
203-966-4546
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