When you file an auto insurance claim, insurance companies may include in their repair estimates OEM parts or aftermarket parts. But what do these terms mean? In today’s post, we will help you make sense of the difference between these two types of components.
What Are OEM Parts and Aftermarket Parts?
The term “OEM” stands for Original Equipment Manufacturer, and as you might have guessed, it refers to parts that are produced by the same company that manufactured your car.
Aftermarket parts, on the other hand, are components made by a third-party company.
The other important difference is that OEM parts are often made to fit a specific model of vehicle, while aftermarket parts are designed to work with several models.
OEM Parts vs. Aftermarket Parts
While some people may think that OEM parts are the best choice, the truth is that aftermarket parts offer the same (or even better) quality at a lower cost.
The reason is that when you choose aftermarket parts you are not paying the car maker’s markup, which can be considerable.
It’s important to note that aftermarket parts are new and using them doesn’t void the guarantee of your car or affect its resale value.
You should also keep in mind that aftermarket parts are guaranteed for the life of the vehicle by your insurance company.
Wrapping It Up
So, which one should you choose: OEM parts or aftermarket parts?
Car enthusiasts may be willing to pay more for OEM parts. If this is your case, you should be aware that since the difference in performance between OEM and aftermarket parts is minimal, you are spending money just to show your brand loyalty.
In the vast majority of cases, aftermarket parts are the option that makes the most sense. These components are less expensive, don’t void your vehicle’s guarantee, and not only do they perform at the same level as OEM parts, but they are guaranteed by your insurance company.
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