Finance Blog

Stay financially savvy with the Equifax Advisor.

Sign up for our FREE Monthly Email Newsletter


Thank you for signing up for the FREE Equifax monthly newsletter

In addition to keeping in the financial know, you may be interested in checking your credit score and report.

Understand your credit. Help protect your identity.

Equifax Complete™ Premier Plan

  • Know What May Influence Your Credit Score and Be Alerted of Changes
    Credit score monitoring with custom alerts
    Important Disclosure: The Equifax credit score and 3-Bureau credit scores are based on an Equifax credit score model and are not the same scores used by 3rd parties to assess your creditworthiness.¹
  • Help Protect Your Identity
    Automatic fraud alerts encourages lenders to take extra steps to verify your identity²
  • Lock Your Credit
    The ability to lock and unlock your Equifax Credit Report³
Save 75% your first 30 days with the purchase of Equifax Complete™ Premier

$4.95 for the first 30 days, then $19.95 per month thereafter. You may cancel at any time; however, we do not provide partial month refunds.4

¹The credit scores provided under the offers described here use the Equifax Credit Score, which is a proprietary credit model developed by Equifax. The Equifax Credit Score and 3-Bureau scores are each based on the Equifax Credit Score model, but calculated using the information in your Equifax, Experian and TransUnion credit files. The Equifax Credit Score is intended for your own educational use. It is also commercially available to third parties along with numerous other credit scores and models in the marketplace. Please keep in mind third parties are likely to use a different score when evaluating your creditworthiness. Also, third parties will take into consideration items other than your credit score or information found in your credit file, such as your income.

²The Automatic Fraud Alert feature is made available to consumers by Equifax Information Services LLC and fulfilled on its behalf by Equifax Consumer Services LLC.

³Equifax Credit Report Control™ is only available while you have a current subscription to Equifax Complete Premier. Locking your credit file with Equifax Credit Report Control will prevent access to your Equifax credit file by certain third parties, such as credit grantors or other companies and agencies. Credit Report Control will not prevent access to your credit file at any other credit reporting agency, and will not prevent access to your Equifax credit file by companies like Equifax Personal Solutions which provide you with access to your credit report or credit score or monitor your credit file; Federal, state and local government agencies; companies reviewing your application for employment; companies that have a current account or relationship with you, and collection agencies acting on behalf of those whom you owe; for fraud detection and prevention purposes; and companies that wish to make pre-approved offers of credit or insurance to you. To opt out of such pre-approved offers, visit www.optoutprescreen.com/.

4We will require you to provide your payment information when you sign up and we will immediately charge your card $4.95. After that, we will charge the card $19.95 for each month you continue your subscription. You may cancel at any time; however, we do not provide partial month refunds.

Equifax® is a registered trademark and Equifax Complete™ Premier is a trademark of Equifax, Inc. © 2014, Equifax Inc., Atlanta, Georgia. All rights reserved.

Should I Buy an Extended Warranty on a Used Car?

Written by Miranda Marquit on October 24, 2013 in Family Money  |   2 comments

One of the problems with buying a used car is that it has been driven before, so you have no idea whether or not you will be surprised with a costly repair bill. If you have a tight household budget and are concerned about the…

budgetOne of the problems with buying a used car is that it has been driven before, so you have no idea whether or not you will be surprised with a costly repair bill. If you have a tight household budget and are concerned about the expenses related to repairing a used car, an extended warranty might be right for you—as long as you’re careful about how you choose your coverage.

What is an extended warranty?

Most new cars come with a warranty from the manufacturer that guarantees certain repairs within a particular time period or for as long as the car is below certain mileage. The warranty is priced into the car, and it applies when the car breaks down before it should.

But if you buy a used car, it might be old enough that the manufacturer’s warranty has already expired—or it might be set to expire in the next year or two. If that is the case, your repair costs won’t be covered if something breaks down on your car.

An extended warranty can help with that by stretching out the coverage period for your car. It’s important to note that technically an extended warranty isn’t a true warranty. It’s more accurately a service contract for which you pay a sum of money to cover certain repairs.

One option you have is to buy an extended warranty from a car dealer. In these cases, it is usually possible to finance the purchase of the service contract along with your car loan. This will add to the cost of the car, and you will have to pay interest on the amount, which will make the warranty pricier.

It’s also possible to purchase an extended warranty from a third-party company. However, some of the companies offering this type of warranty are little more than fronts for scams, so check with the Better Business Bureau and do some research before making any payments.

What does an extended warranty cover?

Every service contract is different, so read the fine print and consider what you most want covered. Most of the time, your car will be covered for mechanical and electrical problems. You will pay a deductible, but the warranty issuer will pick up the rest of the cost for the repair.

It’s important to understand that most extended warranties don’t cover repairs made due to an accident or deliberate or reckless behavior. Additionally, some extended warranties don’t cover normal wear and tear problems, and you might not be covered for the cost of diagnosing the problem. So, if the diagnostic tests cost $200, the resulting repair is $100, and you have a $50 deductible, you could be on the hook for as much as $250 while the warranty company will pay out $50.

Pros and cons of an extended warranty

Whether it makes sense to get an extended warranty on a used car depends on your specific situation and what you can expect from the car. If you are concerned about the need for repairs, an extended warranty can provide peace of mind, and it can protect you if you are worried about potential repair costs.

On the other hand, an extended warranty can be expensive, and it may not cover all repairs. Check for exclusions in coverage. If the exclusions are such that you will still have to pay a significant amount out of pocket, you might be better off without the extended warranty. In fact, in many cases, it makes sense to set aside money in a high-yield bank account designated as your “car repair fund” rather than pay money for an extended warranty.

Be realistic about your situation. If you have a fairly reliable car and you can set aside money for emergency car repairs, there is no reason to get the extended warranty. But if you know that you will worry about breakdowns unless you have some peace of mind about being able to afford the repairs, getting a warranty might not be such a bad idea.

Miranda Marquit is a freelance writer and professional blogger specializing in personal finance, family finance and business topics. She writes for several online and offline publications. Miranda is the co-author of Community 101: How to Grow an Online Community, and the writer behind PlantingMoneySeeds.com.

The information contained in this blog post is designed to generally educate and inform visitors to the Equifax Finance Blog. The blog posts do not give, and should not be assumed to provide, personalized tax, investment, real estate, legal, retirement, credit, personal financial, or other professional advice. Before making any financial decision, you should always consult with the appropriate professionals who can explain your options, rights, and legal responsibilities, and advise you on any tax, legal, credit, or business implications that may result from those decisions. The views and opinions expressed by the authors of blog posts are their own views and may not be the views or opinions of Equifax, Inc. and/or its affiliates.


  1. Tom Hilbrand says:

    I can agree with some things this blogs said and some I don’t. The key to buying an auto warranty, is doing research into the vehicle it’s self. If that year, make, and model has a history of common problems, then yes purchase the warranty.

    If the vehicle is a new body style, I would also buy the auto warranty. The reason behind the new body style, is because the manufacture of the vehicle doesn’t know what kind of problems they will have until the mass product them. Even if the vehicle is 2-3 years old, but it was a new body style, I personally would purchase an auto warranty. The new design could cost you the customer more money then it’s worth.

    I bought my warranty from this company nationalrepairsolutions.com . I have bought a couple of warranties through them and had claims paid out. So for me it has worked out. It depends on the vehicle really! Any ways that’s my two cents!

  2. Adny Gavell says:

    Before making decisions to purchase an extended warranty you need to be very sure that the product really needs an extended warranty. Check out the product’s reputation in the past. How frequently it needs repairs and how frequently do the components of the entity need replacement. This will surely help you in getting a fair idea of the cost that you are going to spend on the extended warranty and the real amount you need to pay in case you decide to repair or replace the parts without an extended warranty. AMT Warranty Crop offers the extended service plan agreements where by users find the highest possible level of item coverage from prospective breakdowns of their brand-new purchase – beyond the product’s original OEM warranty.

Leave a Comment

Name :

Commenting guidelines

We welcome your interest and participation on this forum, but be aware that comments will be published at Equifax's sole discretion. Please don't use this blog to submit questions or concerns about your Equifax credit report or raise customer service issues. Instead, you should contact Equifax directly for all such matters and any attempts to do so in this forum will be promptly re-directed.

Some other factors to consider when commenting:
  1. Registration and privacy. While no registration is required to visit our forum, participants wishing to post a message must register by creating an account. All personal information provided by forum members incident to registration is governed by our Terms of Use and Privacy Policy.
  2. All comments are anonymous. We'll delete your name, e-mail address, and any other identifying information, including details about your investments.
  3. We can't post or respond to every comment - As much as we'd like to, we can't post every comment, nor can we guarantee that we will respond to each individual message. All questions or comments about your Equifax credit report or similar customer service issues should be handled by contacting Equifax directly.
  4. Don't offer specific legal, tax or financial advice. All of the materials on this Site are for information, education, and noncommercial purposes only and this forum is not intended as a means of expressing views or ideas regarding any specific legal, tax, or investment advice. While offering general rules of thumb is both permitted and encouraged, recommending specific ideas or strategies regarding investments, taxes, and related matters is prohibited.
  5. Credit Repair. This blog is not intended as a venue for the discussion or exchange of ideas regarding credit repair or other strategies intended to assist visitors and community members improve or otherwise modify their credit histories, ratings or scores.
  6. Stay on topic. Your comment should be concise and pertain to the specific post in question.
  7. Be respectful of the community. The use of profanity, offensive language, spam, and personal attacks will not be tolerated and egregious or repeat offenders will be banned from future participation. We encourage disagreement and healthy debate, but please refrain from personal attacks on our WordPresss and contributors.
  8. Finally: Participation in this forum may be terminated by Equifax immediately and without notice for failure to comply with any guidelines or Terms of Use. As such, you should familiarize yourself with all pertinent requirements prior to submitting any response through the blog or otherwise. All opinions expressed in this forum are solely those of the individual submitting the comment, and don't necessarily represent the views of Equifax or its management.

Equifax maintains this interactive forum for education and information purposes in order to allow individuals to share their relevant knowledge and opinions with other members and visitors. We encourage you to participate in discussions about personal finance issues and other topics of interest to this community, but please read our commenting guidelines first. Equifax reserves the right to monitor postings to the forum and comments will be published at our discretion. Do you have questions or comments about your Equifax credit report or customer-service issues regarding an Equifax product? If so, please contact Equifax directly. All opinions and information expressed or shared in blog comments are solely those of the person submitting the comments, and don't necessarily represent the views of Equifax or its management.