Cheap Car Warranty
Olive, CarShield, Concord Auto Protect, Endurance, and Omega Auto Care are the cheapest car warranty companies, from our review of car warranty quotes.
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Key Points:
- Overall, Olive® offers the cheapest monthly coverage ranging between $26 to $63.
- Endurance is the best value coverage considering its variety of options and unique perks.
- When shopping for cheap coverage, you should look at both monthly payment terms and the total cost to see if the warranty is worth it.
If you want to protect yourself from unexpected repair expenses, it would make sense to find the most affordable warranty. A cheap warranty can help cover car repairs with minimal impact on your budget. However, price isn’t the only thing to factor in the decision. You also want to find a reputable company that will pay out for covered repairs.
In this article, we’ll cover our top five picks for cheap car warranties that are reliable. We’ll also cover common issues that arise when shopping for an affordable plan. All our picks ranked high in our best extended car warranty research.
An extended car warranty refers to mechanical breakdown coverage offered by a vehicle manufacturer. However, this term is often mistakenly used to describe coverage from third-party companies. Independent providers offer similar protection through vehicle service contracts, but we’ve used the terms interchangeably in this article for convenience.
Cheap Car Warranty Overview
Our team compared quotes from the best extended car warranty companies on the market. We found monthly payments can be as low as $26. We also found total warranty costs to be as low as $350 for a three-year plan.
Compare Affordable Warranty Companies
We’ve reviewed extended warranty companies on coverage plans, reliability, customer experience, pricing, and transparency. Below, we ranked our top recommendations that have high ratings for cost.
| Company | Cheapest Plan | Monthly Payment
Range | Our Pricing
Rating |
|---|---|---|---|
| #1. Olive | Powertrain Plus | $26 to $63 | 4.8 |
| #2. Endurance | Secure | $114 to $156 | 4.8 |
| #3. Concord Auto Protect | Powertrain | $85 to $86 | 4.7 |
| #4. Omega Auto Care | Powertrain Enhanced Protection | $117 to $175 | 4.1 |
| #5. CarShield | Gold | $120 to $140 | 4.0 |
Cheap Car Warranty Providers
Next, we’ll take a closer look at each of our top recommendations for cheap car warranties and their costs.
1. Olive: Cheapest Online Warranty
Monthly payment range: $26 to $63
Company reputation: A+ rating with accreditation from the Better Business Bureau (BBB)
Olive® is our top pick for the cheapest car warranty provider. Its monthly payments can be half the cost of payments from other companies on the market. Olive only offers three plans while many competitors offer five or six. Regardless, its three plans provide a good range of coverage.
Another thing to note is, Olive doesn’t offer roadside assistance on its plans–it only provides car rental benefits and trip interruption. Most companies offer roadside assistance with warranty coverage.
Olive Warranty Quotes
Below you can see quotes we received from Olive.
| Olive
Plan | Term | Monthly
Quote | Number
of Payments | Total
Cost |
|---|---|---|---|---|
| Complete Care | 3 years/185,000 miles | $29 | 36 | $1,051 |
| Powertrain Plus | 3 years/185,000 miles | $26 | 36 | $944 |
| Powertrain | 3 years/185,000 miles | $63 | 36 | $2,252 |
Olive Plans
Olive offers three plans:
- Complete Care: This exclusionary contract covers almost any breakdown except for a list of exclusions.
- Powertrain Plus: This mid-level plan covers most major systems of the car.
- Powertrain: This plan covers the basic components that make your car run (and that are expensive to fix).
2. Endurance: Best Coverage Value
Monthly payment range: $114 to $156
Company reputation: 3.9-star rating on the BBB and 3.6-star rating on Trustpilot
Endurance is on our list because it offers coverage with great value for what you get. The company offers the best plan selection, which ranges from basic powertrain coverage to factory-level protection.
The company also offers a plan called EnduranceAdvantage™, which comes in three different levels and covers regular maintenance services like oil changes and tire rotations in addition to mechanical breakdowns. This plan covers one-time services like brake pads and cooling system maintenance, too.
Endurance stands out when you look at the benefits you get for the money. All Endurance plans come with roadside assistance, towing, rental car reimbursement, and trip interruption coverage. They also come with one year of Endurance Elite Benefits for free, which offers unique perks you don’t often see in the warranty industry. These include:
- Key fob replacement
- Collision repair discount
- Total loss replacement allowance
- Road hazard tire repair
Endurance Warranty Quotes
Below are quotes we received from Endurance.
| Endurance
Plan | Term | Monthly
Quote | Number of
Payments | Total
Cost |
|---|---|---|---|---|
| Supreme | 4 years/101,000 miles | $156 | 28 | $4,368 |
| Secure | 5 years/50,000 miles | $114 | 18 | $2,052 |
| Secure | 3 years/36,000 miles | $131 | 28 | $3,668 |
Endurance Warranty Plans
Endurance offers six plans to choose from:
- Supreme: This is Endurance’s factory warranty level that covers any breakdown except for some exclusions. It’s similar to new vehicle car warranty coverage.
- Superior: This covers a wide range of components on most systems of the car.
- Premier: This plan covers the powertrain, cooling system, fuel system, AC, and luxury electronics.
- Secure Plus: This plan protects vital components like the powertrain, AC, and steering.
- Secure: This basic powertrain plan covers the engine, transmission, and drive axle.
- EnduranceAdvantage: This plan covers mechanical breakdowns plus routine maintenance services like oil changes and tire rotations.
Keep reading: Endurance Warranty review
3. Concord Auto Protect: Affordable Powertrain Warranty
Monthly payment range: $85 to $86
Company reputation: 3.8-star rating from customers on the BBB
Concord Auto Protect is a great option if you’re shopping for a basic extended warranty plan on a budget. The company offers good rates for powertrain coverage, which protects the most vital parts of your car, like the engine, transmission, and drivetrain–which are some of the most expensive repairs. A powertrain plan is a good option for older vehicles since it can cover such repairs.
Monthly rates for Concord’s extended warranty coverage are more affordable than the industry average. Our cost analysis shows powertrain plans cost about $100 per month on average, while Concord Auto Protect offers monthly rates of around $86.
Concord Auto Protect Warranty Quotes
Below are quotes we received from Concord Auto Protect.
| Concord
Auto Protect Plan | Term | Monthly
Quote | Number of
Payments | Total
Cost |
|---|---|---|---|---|
| Premium | 5 years/75,000 miles | $85 | 24 | $2,134 |
| Powertrain | 5 years/75,000 miles | $86 | 36 | $1,907 |
Concord Auto Protect Plans
Concord Auto Protect offers three plans:
- Premium: This comprehensive coverage plan includes any breakdown except for a list of exclusions.
- Advanced: With this plan, you get powertrain protection plus coverage for electrical, steering, cooling, brakes, and more.
- Powertrain: This car warranty covers the engine, transmission, and drive axle along with the brakes and cooling system.
4. Omega Auto Care: Low Total Prices
Monthly payment range: $117 to $175
Company reputation: A+ rating with accreditation from the BBB plus a 3.8-star customer rating on the BBB
Last on our list of cheap car warranties is Omega Auto Care. At first glance, its monthly rates seem high, but that’s because its extended car warranty plans have 24-month payment terms. Looking at total costs for the years of coverage you get, Omega Auto Care is more affordable than the average.
Our rate analysis shows warranties cost an average of $977 per year of car coverage. But considering how long Omega’s plans last, the cost works out to be between $571 and $840 per year of coverage.
Omega Auto Care Warranty Quotes
Below are a few quotes our team received from Omega Auto Care.
| Omega Auto Care Plan | Term | Monthly
Quote | Number of
Payments | Total
Cost |
|---|---|---|---|---|
| New Exclusionary | 5 years/75,000 miles | $127 | 24 | $3,048 |
| Used Stated Coverage | 5 years/75,000 miles | $175 | 24 | $4,200 |
| Powertrain Enhanced Protection | 5 years/75,000 miles | $119 | 24 | $2,856 |
Omega Auto Care Plans
You can choose from five plans (all of these cover hybrid drive components):
- Exclusionary: This factory-level plan is similar to a new car warranty and covers almost any mechanical thing that could break down (except for exclusions)
- Used-Stated: This is a high-level plan that covers most major systems of the vehicle.
- Powertrain Enhanced: This plan option includes the powertrain plus the fuel, electrical, cooling, and AC systems.
- Powertrain Plus: This level of coverage includes the powertrain plus the AC and electrical systems.
- Powertrain: This plan is good for older cars as it covers the engine, transmission, and drive axle.
5. CarShield: Most Flexible Monthly Payments
Monthly payment range: $120 to $140
Company reputation: 4.1-star rating from over 41,000 customer reviews on Trustpilot
CarShield ranks high on our list of cheap car warranty companies because it has the most flexible payment options. Its plans come with unlimited terms, so you can customize the contract length to suit your needs.
For example, you could have a plan for just this year and cancel it after that. CarShield’s standard payments range from $120 to $140 per month, but the company is known to give discounts to new customers.
CarShield has a mileage limit of 300,000 miles. This makes it a great option for high-mileage vehicles that still have a lot of life left.
CarShield Warranty Quotes
Below are quotes our team received from CarShield for the Diamond and Gold plans.
| CarShield
Plan | Term | Monthly
Quote | Number of
Payments | Total
Cost |
|---|---|---|---|---|
| Diamond | Unlimited; month-to-month | $140 | Unlimited | Varies |
| Gold | Unlimited; month-to-month | $120 | Unlimited | Varies |
CarShield Plans
CarShield offers six plans for cars (it can also cover motorcycles and ATVs). One unique option is its EV coverage, which is designed for fully electric cars.
- Diamond: This bumper-to-bumper coverage plan is similar to a manufacturer’s warranty and covers all mechanical systems.
- Platinum: CarShield’s highest stated-component contract covers all major systems of the car.
- Gold: This mid-level coverage option includes the powertrain plus a few other crucial systems.
- Silver: This basic plan covers the powertrain, which is the engine, transmission, and drive axle.
- Aluminum: This plan covers many systems except the powertrain, which makes it a good option to supplement an existing powertrain warranty.
- Electric Vehicle Coverage: This extended auto warranty has two options. It can cover the electric drive components only or it can cover that plus other systems like the steering, brakes, electrical, and air conditioning (AC).
Keep reading: CarShield review
Compare: CarShield vs. Endurance
Affordable Warranty Buyer’s Guide
In this section, we’ll walk you through a few considerations when shopping for an affordable car warranty. These include how much a warranty should cost, what affects extended car warranty costs, how to find a reliable extended warranty provider, and more.
Note that warranties are also called vehicle service contracts or protection plans. Manufacturers only offer extended warranties, but aftermarket companies like Olive and Endurance offer vehicle service contracts (though may still refer to them as extended warranties). Both have different names but serve the same purpose.
How Much Is A Cheap Car Warranty?
Our cost analysis shows warranties cost about $977 per year. That means plans below this price are cheaper than average. You should pay less than $2,000 for a two-year plan, less than $3,000 for a three-year plan, and so on.
What Affects Car Warranty Prices?
Extended warranty prices are affected by many things in your situation. Here are some examples.
- Vehicle model: Some car models are known for higher average auto repairs than others. That’s why an extended warranty will cost more for a Mercedes than a Honda.
- Vehicle age: The older the car, the higher the likelihood of a breakdown. Buying a warranty later in a car’s life will typically cost more than buying one earlier.
- Vehicle mileage: Similarly, vehicles with high mileage often cost more to cover with a warranty than vehicles with low mileage.
- Plan type: All else being equal, high-level plans cost more than basic plans because they cover more vehicle components.
- Deductible: The deductible you select can affect the total cost of the plan. If you have a claim, a higher deductible will lower your out-of-pocket costs.
- Company: Finally, companies have vastly different rates for similar coverage. If you get quotes from three different providers today, you’ll find three different prices, even for the same types of plans.
Compare Monthly And Total Costs
It’s important to look at both monthly and total costs with the quotes you get. One might be more important than the other for you. Perhaps you want to save as much as you can on monthly expenses, so you look for low monthly payment plans. Be aware that the company that offers the lowest payments might not offer the lowest total costs.
The flip side is also true. A company can have higher monthly payments but lower total costs depending on the payment plan length. Omega Auto Care offers 24-month terms. This means its payments are slightly higher than average. However, you’ll pay the warranty off sooner and the total cost can be lower than other providers.
Consider Unlimited-Term Contracts Carefully
Be careful with unlimited-term contracts, too. With these plans, you make monthly payments as long as you have the warranty. The longer you have the warranty, the more it costs. If you just have a plan for a couple of years, this is often a cheaper choice. At the same time, if the plan is four or five years old, it might cost more than a similar plan from another company with limited payment terms.
How To Find A Reliable Cheap Car Warranty
The best way to find a cheap car warranty is to shop around. Don’t just look at the options that your dealership gives you. You can find a huge range of prices from different companies.
That said, cost isn’t the only thing to take into consideration. You should look at the fine print of each contract to see exactly what’s covered. One company’s bumper-to-bumper contract might cover less than another company’s.
It takes a bit of time and energy to read all of the exclusions in an extended warranty contract, but this can save you from unpleasant surprises if you file a claim that ends up not being covered.
Consider Cancellation And Transfer Policies
Cancellation and transfer policies affect how easy it is to get out of the warranty or pass it to another car owner. Most companies offer 30-day money-back guarantees. After this, you’ll get a prorated refund based on the time you’ve already had the warranty. Be aware that just because you never used the warranty doesn’t mean you’ll get a full refund after 30 days.
Good warranty companies also let you transfer the contract to a secondary owner if you sell your car. It should be free to do this or cost very little. Generally speaking, a fee greater than $50 is expensive for transferring a contract.
Repair Shop Network
Dealership plans typically require you to go back to the dealer for vehicle repairs. Used car dealers may even require you to go back to that specific location, which is inconvenient, to say the least.
Third-party plans from reputable companies (like Olive) pay for repairs at any licensed repair facility. They also pay the repair shop directly during the claims process. Some vehicle protection plans reimburse you after the fact, which defeats the purpose of having a plan.
Is An Extended Car Warranty Worth It?
Deciding if an extended car warranty is worth it involves a few different considerations.
- Vehicle reliability: It might not be worth getting an extended warranty if your car model doesn’t usually suffer mechanical problems a few years down the road. You can consult resources like Edmunds, RepairPal or J.D. Power to see your car’s reliability.
- Repair costs: Some cars may not break down easy, but if they do, they could have high repair costs. Consult RepairPal or Edmunds to see the average costs of common mechanical repairs in your car’s make and model.
- Your budget: Do you have enough set aside to cover unexpected repairs? If not, an extended warranty might be a good security net for your peace of mind.
- Existing coverage: You might still have a powertrain plan on your vehicle. If this is the case, a bumper-to-bumper warranty will technically overlap with your powertrain plan while it’s active. You might want to shop for plans like CarShield’s Aluminum plan to supplement powertrain coverage.
Cheap Car Warranty: Our Take
Finding the best price on a warranty is important, but you also want to shop from reputable providers. We recommend comparing multiple quotes from companies like Endurance, Olive, CarShield, and Omega Auto Care. The more quotes you can compare, the better chance you have of finding a plan that is within your budget.
Affordable Extended Warranty: FAQ
Below are a few frequently asked questions about cheap car warranties.
What is the cheapest extended car warranty?
Our quote analysis shows Olive offers the cheapest car warranties for both total cost and monthly payments. Its total cost ranges from $944 to $2,252 and monthly payments range from $26 to $63.
How much should a vehicle warranty cost?
An extended warranty can cost between $1,500 and $4,000 depending on many factors. However, we found warranties usually cost about $977 per year of coverage. You can use this to compare free quotes from warranty companies.
Who offers the best used car warranty?
Carchex is our recommendation for the best used car warranty. The company offers five plans that range from full-scale bumper-to-bumper protection to more budget-friendly powertrain coverage. The plans can all cover up to 250,000 miles, making Carchex a great option for older used vehicles.
What is not covered by CarShield?
CarShield’s Diamond plan covers any breakdown except for a list of exclusions. Among other things, CarShield doesn’t cover:
- Cosmetic damage
- Damage from lack of maintenance
- Normal wear and tear
- Regular maintenance services
- Belts and hoses
- Pre-existing issues
How We Rate Car Warranty Companies
Our review team extensively researches extended car warranty providers to deliver informed and unbiased assessments of leading companies. We evaluate several key rating factors that are important to consumers to determine which providers are the best in the industry:
- Reliability: Warranty providers that earn strong ratings from the Better Business Bureau (BBB), work with reliable partners and administrators, and have a long history in the warranty industry score well in this category.
- Coverage Plans: We take a close look at the coverage plans available through each provider, including how many are offered, maximum term limits, plan exclusions, and more. We also evaluate the added benefits companies include with their warranty plans, such as roadside assistance and trip interruption benefits.
- Pricing: Our team performs a secret shopper analysis for a variety of vehicles and coverage plans to get a sense of a provider’s average costs. We see how each company’s pricing, deductible options, and discount opportunities compare to competitors when determining this score.
- Transparency: We evaluate the availability and transparency of each company’s contracts, as well as whether each provider offers a money-back guarantee.
- Customer Experience: We consider customer reviews and complaints from sites like the BBB and Trustpilot. Our team also reaches out to customer service reps during our secret shopper analysis to get a sense of the customer experience with each company.
*Data accurate at time of publication.
