What You Should Know About Vehicle Service Contracts
Why should I buy a VSC through Outside Financial?
First, buying a VSC through Outside Financial can save you a lot of money. We think VSCs are valuable products for most consumers - when they're bought at the right price. Second, we only partner with VSC providers that care about their customers, stand by their products, and do what they say they will. Third, buying a VSC through Outside Financial gives you the freedom to choose where you have your car repaired. Your VSC will reimburse you for work done at the 1,500+ auto repair shops where a large percentage of the technicians are Automotive Service Excellence (ASE) Certified. VSCs bought at a dealership will often steer you back to the dealership for repairs.
Second, we only partner with VSC providers that care about their customers, stand by their products, and do what they say they will.
Third, buying a VSC through Outside Financial gives you the freedom to choose where you have your car repaired. Your VSC will reimburse you at any of more than 1,500 auto repair shops where most of the technicians are Automotive Service Excellence (ASE) Certified. VSCs bought at a dealership will typically steer you toward that same dealership for repairs.
You can find out a lot more information about VSCs here.
Is a VSC the same thing as an extended warranty?
A vehicle service contract protects you from the cost of repairs that fall outside the coverage of your manufacturer’s warranty. By law, only the original automobile manufacturer can sell you a policy called an “extended warranty.” So while a VSC functions like an extended warranty, technically it can't be called one.
Are VSCs a smart purchase? I've heard they're a waste of money.
We believe VSCs are good products trapped in a bad price. The bad rap comes because VSCs are often sold at a huge markup at a time when most buyers are overwhelmed with information. But VSCs bought at the right price are great products, especially if they offer you flexibility in where you can repair your vehicle. They can help you budget and prevent you from going into debt over surprise repairs. We carefully study our VSC partners' financial health and reputations to ensure both are excellent, and we offer VSCs at fair prices that almost always beat the price you’ll pay at a dealership. Learn more about VSCs here to decide if one is right for you.
Do I have to buy a VSC to get a loan from Outside Financial?
Absolutely not! We think they’re a smart purchase for most consumers, but it’s always your choice. For that matter, no lender (or dealer) can ever require that you purchase a VSC in order to get a loan.
Does a VSC cover all repairs?
VSCs are designed to cover unexpected repairs of parts or systems that fall outside of the coverage on your manufacturer’s warranty. VSCs cover a lot, but there are some exceptions. They don't cover ordinary wear and tear, or damage resulting from accidents. You could also void your contract if you don't keep up with basic car maintenance. You can find a lot more information about VSCs here. If you’ve already purchased a VSC policy, you can review your paperwork to find out more detailed information about what’s covered and what maintenance you need to do.
Can I buy a VSC for a used car?
Yes! Because there may not be a factory warranty on a used vehicle, savvy buyers frequently purchase VSCs to protect their used cars. We think VSCs can be a smart purchase if bought at the right price from the right company - and those are the only kind offered by Outside Financial.
My car has a problem. Who do I contact? You or my VSC carrier?
Please reach out to your VSC administrator directly. Their contact information can be found on your policy paperwork and in My Dashboard. Please let us know if you have any problems or issues reaching your administrator.
Can I take my car to any mechanic?
A key advantage to buying a VSC through Outside Financial is the freedom to choose where you have your car repaired. Your VSC will reimburse you for repairs at more than 1,500 auto repair shops, including most dealer service centers. You can find an ASE-certified repair shop near you on www.ase.com .
Who pays the mechanic?
Most VSC policies have a small deductible. If your policy does, you will need to pay it directly to the mechanic. Your VSC administrator will cover the balance. You can find out more information about your policy in the paperwork you received from your VSC administrator. If you have other questions about your VSC policy, please reach out to your administrator directly. Their contact information can be found on your policy paperwork and in My Dashboard. Please let us know if you have any problems or issues reaching your administrator. You can always contact us here.
How and when do I need to file a VSC claim?
It’s always best to file a claim as soon as possible. Some repairs require pre-approval from your VSC provider, so be sure to follow the instructions on your VSC policy. If you have additional questions, please contact your VSC provider directly. Their contact information can be found on your policy paperwork and in My Account.
What maintenance do I need to perform to ensure my VSC is valid?
To protect your investment and ensure your vehicle stays dependable, you need to keep up with scheduled maintenance. It’s the best way to keep your car on the road as long as possible and keep your end of the bargain with your VSC provider. Check out the specifics of your policy in your policy paperwork.
If I sell my car, is my VSC transferable to the new owner?
It depends. Sometimes you can transfer your VSC to the new owner, but you'll need to check the language in your VSC policy to make sure. You may be charged a small fee to make the transfer.
Can I cancel my VSC?
Yes, you can cancel your VSC at any time. You need to contact your VSC administrator to discuss your options. Depending on when you cancel, you may receive a partial refund. Keep in mind that if you paid for your VSC with your loan, the refund may go directly to your lender.
If I’m refinancing and I already have a VSC, do I need to buy a new one?
No, refinancing your loan shouldn’t affect your VSC. If you got a bad deal on it, refinancing is a great time to cancel your old policy for a partial refund, which you can use to buy a new contract at a better price.