Vehicle service contract

An optional contract bought separately that promises to cover certain repairs — commonly sold as an 'extended warranty'.

Also called: VSC · extended warranty · auto service contract

What it means

Definition

The FTC describes auto service contracts, sometimes called extended warranties, as optional contracts sold by vehicle manufacturers, dealers, or independent companies. They are bought separately from the vehicle, which is what distinguishes them from a manufacturer's warranty — the FTC notes that a manufacturer's warranty is included in the price of a new vehicle. What a given contract covers, and who administers it, is set by that contract.

Why a buyer cares

What it changes

Because it is a separate agreement rather than an extension of the factory warranty, its coverage, exclusions and claims process come from the contract document rather than from the carmaker.

In practice

Where you meet it

Offered in the finance office during purchase paperwork, and marketed directly by third-party companies through mail and calls.

Two things that look alike

Not the same as

A manufacturer's warranty comes with the vehicle; a service contract is a purchase.

Where this comes from

Sources