~ This Presidents' Day, Car-Buying Consumers Can Look to Service Contracts for Protection ~
Presidents' Day is shaping up to be one of the biggest car-buying holidays of the year, and reports say five of six new car sales will involve financing. With so many consumers making long-term investments in their vehicles, they would be wise to purchase service contracts to protect their valuable transportation for years to come.
The Service Contract Industry Council (SCIC) reminds car buyers of the many benefits of a service contract – also called an extended warranty – when they purchase a vehicle. Service contracts cover costly vehicle repairs far beyond the length and limits of routine manufacturers’ warranties, giving consumers long-term peace of mind.
“More and more Americans are making long-term investments in their vehicles, and service contracts go well beyond a limited manufacturers' warranty to protect that investment,” said Timothy Meenan, SCIC executive director. “Added protection and peace of mind are easy to to find with a service contract when purchasing a new or used car.”
Car dealerships traditionally look to boost sales with Presidents' Day promotions, following a dip in sales during January. With millions of Americans looking at vehicles both online and in person, consumers are encouraged to do their research and find out which add-on options offer the best coverage.
According to an Experian Automotive report, 85 percent of new car sales involve financing, approximately 11 percent more than the previous year in total vehicle financing.
“It can be devastating when a financed vehicle requires a costly and inconvenient repair,” Meenan said. “With a service contract, the panic you might feel can turn into a simple phone call that gets you back on the road quickly and without fuss.”
For more information about the value offered by service contracts, visit www.go-scic.org.
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Service Contract Industry Council The Service Contract Industry Council is a national trade association whose member companies collectively offer about 80 percent of the service contracts sold in the U.S. for home, auto, and consumer goods. The SCIC educates consumers about service contracts, encourages its members to pursue high standards of customer satisfaction, and develops and promotes model legislation to regulate the industry with standards designed to protect the consumer and the industry.