This post brought to you by AutoAssure. All opinions are 100% mine.

Budget Auto RepairsWe haven't purchased a car in eight years. We have a 2002 Hyundai Sante Fe and a 2003 Ford Excursion. (How many vehicles seat a family of eight?) The former has over 100,000 miles on it and the latter is running along in the high 60,000 range.

We own both automobiles free and clear, but as they age and the parts wear out, the cost of auto repairs climbs. The alternator on the Ford has already gone out three times since we purchased it. The cost for the part alone is almost $200 — and that's not a serious repair. Having a major repair can really eat into your discretionary funds quickly.

One way to address such unexpected budget-killing costs is to purchase extended warranty service for cars. In a nutshell, this is a repair service insurance, where you pool your money with others to reduce the potential downside of a major repair. It's shared risk like other insurances.

Auto Assure is one company that offers Customized Vehicle Protection Plans. Click through and get a free quote for any vehicles you have that have passed their warranty period and have under 150,000 miles. I just requested a quote on both of ours and will update the post below when they contact me.

They have a range of different plans, allow unlimited claims (up to the value of the car), you can choose from a range of repair shops, and the coverage is transferable.

As with all other products, they aren't right for everyone. Extended warranty companies make money because they bring in more than they pay out. They do that by accurately accessing the chances of a particular car needing a costly repair and because — on average — the members' repairs do not cost as much as the contract payments. The real benefit of such plans is two-fold:

  1. Protection from financial disaster — you're willing to pay a small amount, even though you may never need the service, to protect against the off-chance that you'll have a major repair that could
  2. Peace of mind — you don't need to worry about the stress of a huge repair bill

Check carefully into any such plans to see if they fit your budget and if the benefit will serve you. Auto Assure is Auto Coverage As Seen On TV. Look at their plan options carefully and make the decision that is right for you.

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