Leasing a vehicle is a great way to save money on your month to month expenses. Whether you’re leasing a car or van for your business, or for personal use, it’s a good idea to know what safety nets you have in order if something were to happen. Between insurance and warranties, your car should be taken care of if and when it breaks down.
But what exactly does it mean to lease a van with and without a warranty? Your insurance covers incidents on the road, or gives you discounts if you drive safely in the rain and weather, but it doesn’t always cover the van’s moving parts. Let’s take a closer look at what exactly a warranty may mean in the long run, what you do and do not have to pay for, and where you can get a new warranty if you need it!
Warranty Basics
A vehicle’s warranty is basically a guarantee provided by the manufacturer, or a third party that says your leased van is covered if anything mechanical, electrical, or parts on the vehicle break down.
Here is a list of what is generally covered with a manufacturer’s warranty:
- Air Conditioning
- Audio System
- Electrical Components
- Screens and Tech
- And much more!
What’s more important is knowing what ISN’T covered in warranty in case anything were to happen with the vehicle! Van leasing is not set in stone, you never know when if a circuit could blow, or a belt can come loose.
Manufacturer’s Warranty
A great way to be certain that your leased van is covered by a warranty is to start your lease before the manufacturer’s warranty runs out. This means getting a brand new van right off the line from the factory. You get a brand new vehicle, but a new vehicle also means you can’t have a really long lease.
This is because warranties are typically based on mileage, or time, and manufacturer’s warranties don’t last very long (typically around three years or 36,000 miles, whichever comes first). So if you’ve got a newer van with new tech additions, then you’ll want to make certain those items are covered. But not with money from your pocket!
Extended Warranty
An extended warranty can be put on the vehicle generally at any time. Extended warranties only need to be purchased if the car is past the manufacturer’s warranty, or your lease is longer than the warranty. Extended warranties can be purchased directly from the car manufacturer, but don’t typically come cheap!
Insurance generally doesn’t cover much outside of accidents, tires, tow trucks, etc. If you don’t have a warranty on your van, leased or not, then you may have to shell out a large sum down the line if you have a breakdown. Know what your car insurance covers and what your warranty covers in case you are in need of repairs!
To Deal, or Not to Deal
You can also purchase an extended warranty directly from the dealership! Most dealerships will offer you a discounted extended warranty if you purchase it at the time of signing the lease. However, they tend to be more expensive if you let the manufacturer’s warranty run out, and purchase it new in the middle of your lease.
Now You Understand Why Warranties Are So Important for Van Leasing!
Understanding the importance of warranties for van leasing is incredibly essential in case your van were to break down! Knowing the difference between what warranties are available to you during the lease, and where you can get the best deals is also helpful. You never know what could happen, but you can take comfort in the fact that you’re covered!
