[Advertisement Feature] What is an Extended Warranty Program (EWP) and Why Do I Need One?
Buying used is a popular route to car ownership in Malaysia for several obvious reasons. There’s the lower cost for starters, with the potential depreciation of resale value much lower than that experienced by a brand-new car, especially with European makes and higher end models. The depreciation factor makes a wider variety of cars affordable and accessible to the buyer in the used market, with more choices and bargains on great vehicles across all budget ranges.
However, these upsides to buying used are countered by several risk factors as well. Naturally, there will be concerns regarding reliability and dependability, with many cars in the used market lacking active warranties and detailed service records from reputable sources. In cases of cars with higher mileage or poor service history, part failures that lead to huge repair bills are a genuine concern for used cars. That said, it is still entirely possible to enjoy savings with peace of mind and a rewarding ownership experience if you know where to look and what to look for.
MUV is the first and largest self-listing bidding website in Malaysia that offers transparent inspection reports on all vehicles in its marketplace. Given how every used car differs in how it was driven, maintained and cared for, inspection reports are key to understanding the true condition of a used vehicle. Having vital information on things such as the engine, transmission, tyres and other wear-and-tear components at your fingertips also helps you save time from making an unproductive trip to the dealership. It also gives you a snapshot of the vehicle’s health, allowing you to predict for future expenses more accurately.
That said, thorough inspection is only the first step to peace of mind behind the wheel. Cars are made of thousands of components and hundreds of moving parts, and there are many factors that can be difficult to see or predict, which is why even new cars sometimes break down while still under warranty. The more mileage a car clocks, the more susceptible it is to developing an issue on the move. This is why warranty programs are our best security against unwanted surprises in our ownership experience.
But do warranties for used cars even exist?
They do at MUV.
MUV offers Extended Warranty Programs (EWP) for vehicles purchased directly by consumers or even by other dealers. All cars that go through the MUV marketplace are required to go through a comprehensive but quick inspection process that typically takes 20 to 30 minutes. This is to ensure that the vehicles are free from ‘cut-&-join, flooding, and major mechanical issues that are not only expensive but also potentially hazardous to the buyer. This is why it is always vital to check and understand a used car in detail, preferably with the help of a professional, before purchasing a used car.
Most cars that make it through this stringent process is sold by MUV with the option of two EWP levels – basic and comprehensive. On top of providing a layer of confidence for consumers, MUV also inspects vehicles for businesses and dealers on the condition that they offer EWP for qualified vehicles based on the inspection results.
Although EWP does not provide the same factory support and coverage as official manufacturer warranties, it still goes a long way in providing peace of mind by shielding customers from unwanted surprises. It may not offer like-for-like replacements in the event of mechanical damage or failure, but EWP can help cushion the financial blow by up to RM5,000 per claim should owners incur high repair costs on a wide variety of major parts ranging from engine components including turbochargers to transmissions and sensors.
For example, if an engine suffers from a turbocharger failure which and the cost to replace the faulty part adds up to RM10,000, EWP will save you from half of the repair bill and you will only be required to pay RM5,000 to restore your vehicle to tip-top running condition.
To make the benefits of EWP more accessible to used car buyers across Malaysia, MUV has teamed up with Mudah, one of the most popular online marketplaces in the country on which thousands of used cars are always on sale at any given time. The Mudah mVIP program powered by MUV’s EWP offers comprehensive and basic packages for used car buyers. All you need to do is contact Mudah or MUV to get the ball rolling with the inspection process.
For more information, visit MUV’s official website for the full list of services and cars currently on sale or available for bidding. You can also book an inspection appointment by clicking HERE. The inspection process is free of charge, and it will give you a better understanding of your vehicle’s health along with a free valuation to help you decide on the next steps.