Auto Warranty News

As we know some of us turn to generic parts to replace car parts as most of them are cheaper than Original-Equipment Manufacturer parts (OEM). As reliable as they are, the issues of safety arise when using generic parts versus OEM parts. But a demonstration conducted by the Insurance Institute for Highway Safety (IIHS) shows there is no implications on safety factors when using generic parts. Affirmed by the institute the source of generic cosmetic car parts is irrelevant to the car’s crashworthiness. This affirmation is supported by Certified Automotive Parts Association (CAPA) by inspecting and guarantying generic automotive parts meeting their high standards. In addition, generic car parts suppliers are often the same that supply the manufactured OEM parts.

 
According to Insurance Institute for Highway Safety (IIHS) two 1997 Toyota Camrys were used in a crash test, while one used OEM cosmetic parts the other used CAPA certified generic parts including the hood. Both Camry scores distinctive results and received a good rating on crashworthiness. Nowadays as many as 2,500 types of parts received the certification; in fact a 5-year warranty covers most parts by the manufacturer or distributor.

 

A lot of people buy extended warranties for their car to cover themselves from emergency costs incase failure or mechanical breakdowns occur to their car. What is an extended warranty anyway? An extended warranty is an agreement/contract between you and the service provider. Purchasing an extended warranty gives you the advantage of avoiding the high cost for your cars repair. There are different plans with various additional benefits you can choose from.

 There are specific manufacturer warranties such as GM warranty. The full warranty of GM is 3 years and 36,000 miles, included are roadside assistance and vehicle rentals. This warranty could be transferred to anyone who bought the automobile from the past owner. If you require a longer warranty you could buy an extended warranty that covers your car up to 100,000 miles.

 Almost every component on GM manufactured automobiles are covered by its extended warranty, included are also roadside assistance and vehicle rentals. This warranty provides a comprehensive coverage and can be used at any GM licensed garage or dealership; this warranty starts on the day you buy it.

 Nothing compares to the feeling of knowing your vehicle is still covered when it breaks down with such little cost and these additional benefits.

As many there are reason not to buy an extended car warranty there are also as many as reason to buy one, for one there are always a chance of your car breaking down . Even if your car has a reputation to be dependable, you’re never certain when it can have problem.

You may think it doesn’t make sense in buying one, but if your car does break down, then you don’t have worry about paying the repair bills because your extended warranty covers all of the charges.

For some people, the price of extended warranty is too high while other people hope that they will never need one. Many people are not aware that you can find another place to get a warranty besides the dealer. Some online research would reveal there are many companies selling extended warranty with various price and coverage.

Before buying an extended warranty, be sure you know the product thoroughly and have your questions regarding the product answered by the company. Here are some questions you might want to ask regarding the product: how repair payments are handled? How about transferring warranty of a sold car?, do you require the car to be taken into a certain repair shop?, do they cover luxury options?.

A 1996 Lincoln Mark VIII silver coupe with 66,000 miles on its odometer has been parked since winter because the owner – Ted Field Sr.’s – couldn’t find a replacement for a part called variable load control module.

This module controls the fuel pump and the cooling fan, for Field’s case the control for the cooling fan is affected. The failure on the cooling fan leads the engine to overheat and possibly blow a radiator.

While an inquiry about this part to a Ford dealership turned up nothing, the same goes to search on Ford’s national parts network. Turns out the part was discontinued.

According to Dan Jarvis, Ford spokesman, as soon as the car warranty expires the company has the right to discontinue parts. 

Jarvis explained that parts supply depends on the demand of the car which in this case Field’s car demands was not so great.

This story might grow to a trend because this policy could cause car to have limited lifetime regardless of the fact how many mile the car has run. As ironic as it already is, Field’s car still have a lot of useful life.

Disappointed of his car Fields is considering to donate it to any charity that might accept it.

Picture this, you’ve decided, picked, and negotiated with a salesman for the car of your dreams. Now you are thinking of closing the deal since you think that you are going to get the car on a bargain. Wanting to close the deal as soon as possible you follow the salesman to an office where you agree to the terms, but then he turns to you and tries to sell you additional insurance, undercoating, and other parts or services. This is where your good deal turns sour. Most people agree on the overpriced extras because of various reasons, in this case you are thinking that you’re getting a good bargain and a little extra won’t hurt. Other cases are some people are already tired of the processes of researching, deciding, finding which car they would choose so they agree over a little extra to get the deal close as soon as possible.

 Little do they know that these extras are often overpriced, and that’s where the dealer is able to make more profit since the profit of selling car is not as much since they’ve already lowered priced to get you to the dealership. These days a salesman is considered lucky to sell a $30,000 car with $500 profit.

Get yourself educated of these extras, pick one that you need and moreover if you think the extras are overpriced don’t hesitate to reject it. Be an educated and smart buyer. Last but not the least; be sure to look out for the new car auto warranty that comes with the car.

People spend a large amount every year on their car warranties. The recent studies show that the estimated amount spent on the warranties is around $28.1 billion. The OEM sector of worldwide spends approximately 3.4 times that of the OEM sector of US. There has been a slender augment in the warranty claims in the US, OEM’s sector from $10.9 billion in 2005 to $11 billion in 2006.

Anything, which moves on the wheels on its own power, is included as automotive, as per the definition given by the Warranty Week. The range of automotive includes motorcycle, cars, trucks, fire engines but not the airplanes. Some experts even exclude the off-road automobiles.

There is a wide range to choose the best auto warranty for your automotives depending on the personal choice and whether the vehicle is used for the private or public purposes. The changes in the warranty offered by different companies varies as the companies have different policies and have different ways to calculate the estimated cost and different models of the cars have different car warranties. The assumption of the conversion of the currency varies on daily basis which makes the accounting plausible.

Personal finance is the single most important thing any adult has to deal with in life. Being financially responsible will save people from getting into unnecessary debt. Knowing how much a person has and what they can spend ensures them that if they want to something, that they need to save for it. Being financially responsible branches out into various aspects of our lives which include something we use everyday, our cars.

For instance, an individual may go to purchase a car and negotiate the prices with the dealer and think that he has done a good job. However, after deciding on the model he or she wants, he may not realize that thousands of extra dollars are being added on to his final invoice. This is because the dealership has tacked on additional finance charges, and extra warranty costs.

This may transform the car shopper’s original dream of owning a car at the cheapest way possible into a nightmare. An option a car shopper can take is to purchase a new or used car warranty from a third party. Warranty companies offer programs that cost way less than what a dealer charges.

If the potential car owner is still interested in that car they are looking at, then they should consider saving extra money by buying a warranty else where.

The quality and reputation of an extended warranty company has a major role in getting our car insured. Generally, the two main parties who undertake the responsibility for extended car warranties are the insurance companies and the Risk Retention Groups (RRG).

It is always advisable to do a little bit of research about the company, which is going to insure the vehicle. Some of the important details, which should be well looked, include the present ratings of the insurance company, an oversight of its regulations, review about the company by past clients and its financial stability.

More stress should be laid on choosing an insurance company, which is rated among A-list by credit rating companies. Also, some other important factors, which should not be overlooked by a car owner is to include checking the compliance of an insurance company with government regulations. Insurance companies should have a steady record of submitting their annual financial reports with the government authority.

Most of the insurance companies seek to have business alliances with underwriting firms which have a considerable amount of experience in giving out car warranties rather than merging with RRG’s which are relatively new in the insurance industry and do not have much experience in giving extended car warranties.

Nowadays many people go for used car, as it suits their budget. An important aspect that should be kept in mind while buying a used car is to check the warranty coverage of the vehicle. The warranty offered for used cars is known as a used car warranty. It is the car owner’s safeguard against paying for any future mechanical failures and breakdowns.

Used car warranty is different from other warranty in the sense that it comes along with lemon law. The law states that if a car has repeated breakdown then the warranty provider is liable to refund the purchase price of the vehicle. However, when car owner’s purchases the used car warranty, they should make sure about the terms and conditions before accepting the deal. This is because with the growth in the auto industry, there are many companies’ offering used car warranties. Hence the chance of falling trap to fraudulent deals is increasing. So, the call is for the buyer to check and ensure that the terms are well understood and suits the specific requirements or not. A used car warranty is a must for any person who is buying a pre-owned vehicle.

An automotive warranty is a type of insurance coverage that is offered to car owners as an assurance against mechanical failures of the car. Warranties are provided for both new and used cars. However, the warranty offered on new cars is called a “new car warranty” and is given by a manufacturer to a car owner at the time of vehicle purchase.

Under the warranty program, it is declared that a vehicle being sold by a manufacturer is free from all kind of defects. In the event of a mechanical breakdown, the manufacturer is liable to repair the problems without charging the car owner for any expenses.

A new car warranty is further divided into two categories, namely a general warranty and power train warranty. A general warranty is also known as bumper-to-bumper and is usually for three years or offered for a distance of 36,000 miles, whichever is earlier. On the other hand, a power train warranty extends for a longer duration and covers the wheels and engine also.

A person needs to be cautious while choosing a warranty. First, it should meet the owner’s requirements and secondly all the documents should be read carefully to avoid any misconception.