SearchAutoParts.com: Service Contracts Grow in Popularity as New Cars Become More Expensive to Repair

As new cars make their debut on the nation’s biggest car sales weekend of the year, more buyers than ever before will decide to purchase a service contract to cover the cost to repair their new ride.

Service contracts are an increasingly popular choice among consumers as car repair costs rise, according to the Service Contract Industry Council (SCIC).

The SCIC estimates that consumers bought more than 10 million service contracts in 2012 for both new and used vehicles. Those service contracts covered 95 percent of annual claims filed, including repairs necessary due to normal wear and tear, providing coverage above and beyond a traditional manufacturer’s warranty.