The Smart Way to Beat Rising Repair Costs
Factory warranties offer peace of mind, but most drivers keep their vehicles long after those warranties expire. With the average vehicle age on U.S. roads now exceeding 12 years (S&P Global Mobility, 2024), repair costs can quickly add up. A Vehicle Service Contract extends that peace of mind, helping you avoid surprise repair bills while locking in today’s service pricing.
What are vehicle service contracts?
Think of vehicle service contracts like health insurance for your vehicle. While most factory warranties last at least three years, many drivers keep their vehicles well beyond 150,000 miles. Vehicle service contracts cover expensive repairs included under the service contract coverage when your factory warranty expires.
Major repairs can be costly—a replacement transmission can exceed $5,000, while a new engine may cost more than $7,000 (RepairPal, 2024).
A vehicle service contract helps protect you from those unexpected expenses once your factory warranty ends.
Why Should You Get One?
Vehicle Service Contracts lock in today’s repair rates and parts pricing. That means inflation, supply chain shortages, or rising labor costs won’t affect what you pay for covered repairs down the road.
With service and repair costs up almost 20% since 2022 (Bureau of Labor Statistics, 2024), locking in pricing today can save you significantly over time.
What do they cover?
Coverage varies from plan to plan and can be more or less extensive, depending on several factors. However, most vehicle service contracts cover things like:
- Engine
- Transmission
- Steering Components
- A/C Systems
- Brakes
- Electrical Components
- Suspension
- Fuel Systems
Plans can vary, so you can choose the coverage level that best fits your driving habits and budget.
What's the average cost?
Most vehicle service contracts range from $350 to $700 per year, totaling around $2,000 to $4,000 over the life of the plan. Considering a single repair could cost more than that, a service contract can quickly pay for itself, and give you long-term confidence in your vehicle’s reliability.
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Don’t let unexpected repairs catch you off guard. Protect your budget and lock in today’s pricing with a Vehicle Service Contract from Volvo Cars Silver Spring. Contact our team today to learn more about your options.