Auto Warranty
Top Companies in 2024
CARCHEX vs Protect My Car
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- Relationship with multiple VSC
- Trip interruption reimbursement
- Flexibility of warranty options
- Refund upon contract cancellation
- Choose your own repair shop
- 24/7 roadside assistance
- Includes student and military discounts
- Trip interruption reimbursement
- Transferable coverage
- Does not cover all cars
- May be more expensive than others
- They are brokers, not administrators
- Roadside assistance limited to 2 service calls per year
- Not transparent about their prices
- Doesn't cover California and Washington
- Free quotes are not fully online, may pressure customers into buying
CARCHEX boasts a great reputation and excellent customer service, among their many advantages. CARCHEX has been helping people protect their vehicles since 2004. They have an A+ rating from the Better Business Bureau and have been consistently ranked as one of the best extended warranty companies in the industry. If you own a vehicle with high mileage, CARCHEX is an especially good option for you.
Protect My Car is a well-known company in Saint Petersburg, Florida, that has been around since 2005 and offers many services to keep your car safe and in good shape. They offer longer guarantees on cars that have up to 20 years left on them. Protect My Car stands out from others in the same field because they offer extra benefits and a wide range of coverage choices. They're proud to offer their services directly to you; they call it "The PMC Way."
Since March 2023, when it was said that PMC had fired 75 workers because of "unexpected business circumstances," there have been some worrying stories about the company. There are also hints that they will be firing more workers. So, it wasn't clear if this service provider was out of business or would be soon.
- BBB Rating : A+
- Cancelation Option : Available
- Maintenance Coverage : Unavailable
- Money-Back Guarantee : Yes
- Number of Plans Available : 5
- Repair Shop Choice : Yes
- Term Limits : Up to 10 years
- Waiting Period : 30 days
- Operating Status : Active
- Business Started : 1999
- Online Quote : True
- BBB Rating : C
- Cancelation Option : Available
- Maintenance Coverage : Available
- Money-Back Guarantee : 30-day money-back guarantee
- Number of Plans Available : 3
- Repair Shop Choice : Any ASE certified repair shop
- Term Limits : N/A
- Waiting Period : N/A
- Operating Status : Active
- Business Started : 2005
- Online Quote : True
- Services backed by industry standard-bearers like Kelley Blue Book, CARFAX, RepairPal, and Edmunds.com
- Covers cars with up to 250,000 miles on them
- Choose your own repair shop
- Trip interruption reimbursement
- Available in California and all states
- Long contract terms of up to 10 years
- Maintenance benefits available in each of their plans
- Available for some commercial vehicles
- Monthly PMC rewards
- Covers vehicles up to 20 years old with high mileage of up to 250,000
- Phone
- FAQs
- Help Guides
- Live Chat
- Mobile Application
- Ticket
- Phone
- FAQs
- Help Guides
- Live Chat—Undisclosed
- Mobile Application—Undisclosed
- Ticket
- Major Credit Cards
- Major Debit Cards
- Cash
- Check—Undisclosed
- ACH Transactions
- PayPal
- Apple Pay
- Google Pay
- Money Order
- Wire Transfer
- *Not all payment methods are available in all states
- *Some payment methods may incur additional fees
- Major Credit Cards
- Major Debit Cards
- Cash—Undisclosed
- Check
- ACH Transactions
- PayPal
- Apple Pay—Undisclosed
- Google Pay—Undisclosed
- Money Order
- Wire Transfer
- *Not all payment methods are available in all states
- *Some payment methods may incur additional fees
Protect My Car vs. CARCHEX
Protect My Car, and CARCHEX are two notable options for an extended auto warranty. This comparison examines their coverage plans, pricing, standout benefits, and potential drawbacks to help you make an informed decision.
Coverage plans and options
Both Protect My Car and CARCHEX offer a variety of coverage plans designed to meet different vehicle needs. Protect My Car provides three main plans: Essential, Deluxe, and Ultimate, covering everything from basic powertrain components to comprehensive protection, including the electrical system and turbocharger. Similarly, CARCHEX offers five levels of coverage through third-party administrators, ranging from basic powertrain warranties to exclusionary coverage, nearly equivalent to the manufacturer’s warranty.
The key difference lies in the companies’ approaches. Protect My Car is a direct provider that handles claims internally, which can streamline the process. In contrast, CARCHEX operates as a broker, working with multiple third-party administrators to offer a wider range of plan options. This may provide more flexibility but can complicate the claims process.
Pricing
Pricing is a crucial factor when choosing an extended auto warranty. Both Protect My Car and CARCHEX offer competitive pricing structures with options for flexible payment plans. Protect My Car’s costs typically range from $1,800 to $3,000, depending on the plan and vehicle, and they offer deductible-free options. CARCHEX also offers customizable payment plans, with pricing varying based on the chosen coverage level and vehicle specifications.
However, Protect My Car may offer more budget-friendly options for straightforward pricing with the added benefit of maintenance coverage. While potentially more expensive, CARCHEX offers broader coverage options and the ability to choose from various administrators, which might appeal to those seeking tailored plans.
Standout benefits
Both companies offer unique benefits that enhance their appeal. Protect My Car provides maintenance coverage with select plans, including free oil changes, tire rotations, and rewards programs that offer discounts on popular brands. Additionally, their plans are transferable, adding value if you sell your vehicle. CARCHEX stands out for its partnerships with reputable industry organizations like Kelley Blue Book and CARFAX, providing added credibility and access to resources like RepairPal.
CARCHEX's nationwide coverage, including in California, which other providers often exclude, sets it apart. CARCHEX also allows you to choose your repair facility, whether a dealership, local mechanic, or chain, offering more flexibility.
Potential drawbacks
While both companies provide solid coverage, there are some drawbacks to consider. Protect My Car has been the subject of recent concerns, including layoffs and customer complaints about long wait times for claims and customer service. This instability might be a red flag for potential customers. Additionally, their plans are unavailable in California, Washington, or Canada.
On the other hand, CARCHEX may have higher costs due to its brokerage model and reliance on third-party administrators. This can result in more complex claims processes, as customers must navigate through different administrators. Additionally, CARCHEX may not always offer coverage for every vehicle type or component, so reading the fine print is essential.
Conclusion
Protect My Car, and CARCHEX offer solid options for extended auto warranties, each with its strengths. Protect My Car is ideal for those seeking straightforward, direct coverage with added maintenance benefits, while CARCHEX appeals to those looking for flexibility and nationwide coverage. Your choice will depend on your specific needs, budget, and comfort with each company’s service model.
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