A new or used car should always be accompanied with a warranty. It is a friend of your car that helps in the hours of emergency.
The warranty that accompanies a used car is known as the used car warranty law. In some countries, it is also called ‘lemon law’. You must be wondering what is the relation between a car and a lemon. It is interesting to know that a car is called a ‘lemon’ when despite regular repairs from the dealer, the car still continues to have defects.
The car qualifies to become lemon when the car has been repaired for so many times for the same repeated defect within the warranty period and the defect still persists. Hence, we can say that lemon law is a safeguard tool for the auto warranty.
The lemon law is a clause in used car warranties that protects us from defected cars and fraudulent dealers. Under this law, the dealer has to give a written warranty explaining in details all the terms and conditions as well as coverage claimed in the warranty. Also, the lemon law or the used car warranty law states that in case the dealer is not able to repair the defects after number of attempts, then the car owner is applicable to get full refund of the car’s purchase price.
You’ve decided to buy a car and are slightly confused about the warranty programs that are being offered by the dealer. Well to make this really clear to you, first let me explain the types of after market warranty that you can get. There are two types of warranties, one is the factory warranty that you get when you buy a new car and the second one is called the extended warranty, which by the way is meant for you to purchase once your factory warranty expires.
Now, let us understand the claims that a customer can get within the warranty period. Claims that are under the factory warranty schemes include small repairs, dents, bents, accident repairs and other little scratch things. These factory warranties are given only for a particular period of time, say 3-5 years. Some companies also put a restriction to this by applying another clause that states, if the car travels more than certain miles then the warranty is over, even if the warranty period is not over.
Once your factory warranty expires, you must consider an extended warranty as it provides you the much needed security and satisfaction that even if your car gets damaged there is someone who will take care.
Could be related to cooling of housing market, analysts say.
An article in Reuter’s today says the luxury car and SUV markets are facing a decline, reflected by a dip in sales.
Driven by aging baby boomers at the peak of their earnings power and dominated by European and Asian brands, the luxury segment of the U.S. auto market has grown by 20 percent since the start of the decade.
That growth, which came despite a pullback in the pace of less-pricey auto sales over the same period, brought the luxury segment to about 12 percent of 16.9 million vehicles Americans bought in 2005.
But luxury car sales are down about 4 percent this year, and some analysts are seeing a potentially worrying connection with another venue for conspicuous consumption: real estate.
Overall car sales had been on a downturn, but premium vehicles have been insulated from this trend until now. The possible link to the housing market has largely been based on the parallel decline of luxury car purchases and the housing market observed in California.
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“Government wants to keep confidential some vehicle safety data” – Detroit Free Press
According to a recent article in the Detroit Free Press, the National Highway Traffic Safety Administration wants to keep certain vehicle safety data private.
From the article:
The proposal, similar to past versions, came in response to a ruling by a federal judge earlier this year that the agency had failed to provide enough notice to comment on an early warning system plan. In the March ruling, District Judge Richard J. Leon sent the proposal back to the agency.
The early warning system was part of legislation approved by Congress following the massive recall of Firestone tires in 2000. It required automakers and other manufacturers to submit data on deaths, injuries, consumer complaints, property damage and warranty claims.
NHTSA said its proposal would consider certain early warning information as confidential, including production numbers not involving light vehicles, consumer complaints, paid warranty claims and field reports.
Apparently the requested disclosures violate a public records law that prohibits sharing information that could result in privacy intrusion.
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