ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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$12, 500
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$11, 000
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$10, 500
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$11, 500
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Detailed explanation-1: -Extended Warranty Overview Most warranties can be extended for a reasonable cost. An example of a common extension is the limited labor warranty extension from one to ten years.
Detailed explanation-2: -The answer to this question is YES. While the law doesn’t mandate you to purchase an extended warranty for used cars, it is a wise practice to opt for one. However, it’s necessary to exercise some caution before buying an extended warranty.
Detailed explanation-3: -The basic cover, the bumper-to-bumper warranty, includes almost all elements of the vehicle, i.e., the air-conditioning, electrical fixtures, and the audio system. The warranty is usually capped at 3 years and 36, 000 miles, while some luxury brands may extend it further.
Detailed explanation-4: -A car warranty is an assurance by the vehicle manufacturer promising to replace or repair your vehicle if necessary. A warranty is a promise by the manufacturer and is mainly used as a shield against sudden or unforeseen financial loss caused by a defect in the car.