5 Facts You Should Know About Vehicle Service Contract
Have you ever kept yourself awake at night worrying about how you would pay for a sudden, unexpected car repair?
Below are five facts about vehicle service contracts (VSCs) to help you decide if such a contract could help provide you with financial peace of mind and a good night’s sleep!
VSCs help people pay for unexpected car repairs, but not every repair is covered. You should read the contract carefully so that you understand what repairs are – and are not – covered, as well as your responsibilities, including car maintenance requirements, deductibles, and other terms.
VSC levels of coverage can vary based on the vehicle’s age and mileage. When you buy a new car, the manufacturer’s warranty typically lasts 3 years or 36,000 miles; however, the average car owner keeps their car for over 10 years. For an affordable monthly fee, you can purchase a VSC from Toco Warranty Corp. (Toco) to help minimize the financial burden of unexpected, covered repairs.
You do not have to pay up front fees for all VSCs. Many VSCs require pre-payment for the full cost of the contract. In contrast, Toco’s vehicle service contracts allow you to pay as you go, requiring a monthly fee with no down payment or up-front costs. An administrative fee may apply for cancellations. Decide what works best for you.
VSCs can be cancelled. Toco’s vehicle service contracts can be cancelled at any time, although an administrative fee may apply. Be sure you read your contract carefully to understand your cancellation terms.
VSCs are not the same as car insurance. VSCs offer coverage for repair of specified car parts as further outlined in the Terms and Conditions, but they do not cover collision repairs or routine maintenance services.
VSCs have helped thousands of people keep their cars – and their lives – on track and they may offer you financial peace of mind. But it is important to ask questions before you buy any auto repair protection plan, and read your contract carefully to understand all terms and conditions that may apply.