|
| Updated |
Jul 7, 2004 20:36:24 |
| Rating |
 55 ( -10 -18.18% ) |
|
|
Description:
A warranty is a guarantee made by the manufacturer or dealer to perform and/or pay for specific repairs and services if the product does not meet expected performance levels. Warranties cover many items you buy, not just new and used cars. There are two types of warranties: one implied by the law and one provided by the manufacturer. Both of these warranties are included in the sale price of the vehicle. Warranty coverage is limited to a predetermined amount of miles or years. For example, 3 years/36,000 miles translates into your vehicle being covered for three years or 36,000 miles whichever comes first.
Warranty Importance
With the rising cost of mechanical parts and labor, warranty coverage is an important coverage for car buyers. If there is a major problem in an expensive system like the engine or transmission, warranties can save you thousands of dollars.
Warranty Length
Ten years ago the standard warranty was limited to 12 months or 12,000 miles and they were loaded with exclusions. This changed thanks to the Japanese Big Three: Toyota, Honda and Nissan, who began providing a basic warranty of 3 years or 36,000 miles. Powertrain warranties on many luxury models are anywhere from 4 years/50,000 miles up to 10 years/100,000 miles. Warranties are now more competitive and are including coverage on more items.
Examine Your Warranty
The Magnuson-Moss Act mandates that warranties must be made available to consumers to read before they make a purchase. All claims made by the salesperson or dealer should be "expressed" in writing. Be sure to read the written warranty carefully before you sign on the dotted line. If it doesn't measure up to your expectations consider buying another vehicle with a better warranty for your protection.
Note: The Car Book by Jack Gillis publishes an annual comparison of warranties including a list of the best and worst for the current year.
Don't Void the Warranty
Another important reason to carefully read your warranty before purchasing a vehicle is to prevent voiding the warranty. Be aware that some dealer added options could void a manufacturer's warranty, such as dealer-installed cruise control and rustproofing.
Note: Check with the manufacturer before you authorize the installation of any option.
To prevent voiding the warranty it is a good idea to have any warranty-required maintenance or inspections done within the specified time or mileage limits. Warranty coverage may also be canceled if you abuse or misuse your vehicle, so follow the instructions that come with the warranted parts. Many warranties allow you to patronize either an independent mechanic or another dealer for repairs without voiding your warranty so don't automatically believe a dealer that tells you that you will void your warranty unless you have the vehicle repaired at that dealership using factory-authorized parts. Check your warranty's fine-print (or call the manufacturer) in order to determine your repair options. Be aware that the Magnuson-Moss Act forbids anyone from demanding that you buy their parts to keep a warranty in force. There are two exceptions to this: If the dealer provides the parts for free and if the Federal Trade Commission publishes a statement that a particular factory part is required.
Note: Remember to look for additional warranties on items that are not produced by the carmaker. |
| Similar news: | - Workers at Shaw's authorize a strike - Unionized workers for dozens of Shaw's Supermarkets have overwhelmingly rejected a ``final'' contract proposal presented yesterday by the grocery chain.
- UAL Attendants Authorize Call for Strike - Flight attendants at UALCorp., parent of bankrupt United Airlines, authorizedtheir union to call for strike activities if the carrierterminates their collective bargaining agreements, the unionsaid on Thursday.
| | Find all news similar on Warranty |
| Similar articles: | | | Find all articles similar on Warranty |
|
