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With vehicle prices climbing steadily, buyers are often left cash-poor and anxious about affording sudden repairs. These financial pressures have fostered an environment where extended warranties appear increasingly attractive, allowing consumers to mitigate risks associated with car ownership.
Shifts in Sales Processes
The pandemic has also catalyzed a substantial shift in how vehicle purchases occur. Dealerships transitioned to more online sales models, providing consumers with the opportunity to conduct research before making financial commitments related to vehicle service contracts. This change has empowered buyers, enabling them to explore options and understand what they are purchasing beyond just accepting a dealership’s offerings without question.