Pre-owned motorhome buyers are opting for an extended warranty in increasing numbers, according to MB&G, the UK’s longest established and leading motorhome and caravan warranty provider.
MB&G saw a leap of almost a third (30 per cent) of used motorhome buyers who decided to err on the side of caution and upgrade to an extended warranty in 2012. The figures have been released ahead of a relaunch of the company’s Gold Warranty and Silver Warranty products as the seasonal spring peak for caravan and motorhome purchase nears.
Managing director David McPhee believes the increase is as a result of a number of factors including consumers opting to invest in a warranty rather than risk higher costs if a repair is required and dealers who are highlighting such benefits to buyers.
He says “Warranties on used motorhomes can vary depending on age and mileage of vehicle but are typically around 12-months but by upgrading to an extended warranty at the point of purchase, buyers can enjoy peace-of-mind motoring for longer. Dealers have recognised buyers are more cautious so when they do make an investment, they are more likely to want to guard against unforeseen costs should something go wrong a few years after purchase.”
In addition, more buyers than ever before are opting to purchase vehicles over five years old and, inevitably, the older the vehicle the likelihood of a repair increases.
Adds McPhee: “Older motorhomes are less expensive to buy and as technology has improved so has the reliability of vehicles as well as the build quality which makes those in the five year plus age group particularly attractive. However, these older motorhomes are still viewed very much as an investment by their owners who want to protect themselves against the risk of unforeseen repairs and so are more likely to opt for an extended warranty.
“Many of our motorhome dealers are also seeing people who bought older motorhomes returning to upgrade to newer models; almost as if first timers are cutting their teeth on the older motorhomes. These ‘first timers’ also tend to be cautious and are more like to buy an extended warranty which has contributed to the increase we have experienced.”
Motorhomes and caravans are more complex than a standard vehicle, being both a vehicle and a home and as such are subject to mechanical breakdown or internal equipment failure, which without the protection of a comprehensive warranty, can prove very expensive for the owner to put right.
MB&G’s motorhome and caravan offer a Gold Warranty for vehicles aged up to five-years-old which covers all major components and a Silver Warranty specially designed for vehicles aged five-10-years. Owners of older motorhomes make up the majority (two-thirds) of the 2012 increase in MB&G’s extended warranty take-up.
MB&G provides the following advice to motorhome owners considering purchasing an extended warranty:-
· The first thing to check when looking for a warranty is the terms and conditions, as these will vary from cover to cover. Be sure that you read and understand these fully before acceptance. These generally cover the servicing and maintenance of the vehicle and will give a summary of what is and isn’t covered by the warranty
· Body leaks can occur, whether the motorhome or caravan is parked up and unused for long periods of time, or is in regular use all year round. Cover against water ingress is vital, as resulting repairs can be a major expense. But it is important to note this cover is only available on vehicles up to a certain age
· Your motorhome or caravan may travel thousands of miles each year on UK and European roads, as well as negotiating unmade roads, tracks or even across fields, so it may be prudent to ensure the warranty cover includes the entire chassis, including suspension, braking system and running gear (axles, hubs, etc.) to protect against a sudden mechanical or electrical failure
· If you plan to travel into Europe, you may need to get an extension on the warranty that will cover you for roadside assistance, breakdown recovery and repatriation to the UK
· Check the manufacturer’s fitted appliances, such as the cooker unit and fridge, are all covered against repair or replacement