Thursday, March 31, 2011
Powertrain Warranties or Drivetrain Warranties
A powertrain warranty sounds good when you are looking at vehicles. The powertrain warranty usually lasts longer than the commonly referred to bumper-to-bumper warranty. I talk to people all of the time that say, Oh, I'm covered for 5 years and up to 60,000 miles. They of course, are referring to the powertrain warranty. Powertrain warranties usually only cover the internally lubricated parts of the engine and transmission. These are parts that almost never fail and when they do chances are you didn't change your oil which will void the warranty. Powertrain warranties are a great sales gimmick to get you to buy thinking you are well protected. I have heard that only 2% of people ever actually use a powertrain warranty. I can't say this is a fact but I suspect it to be true. Anyway, I don't want to brust your bubble but if you like security from repair bills then I would look into a good extended service contract.
Ken Johnson
Ken Johnson
Wednesday, March 30, 2011
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You Don't Have Extended Warranty No Matter What You Were Told
Most people refer to it as extended warranty but that is incorrect usage. No one can extend your warranty except the manufacturer. If for an example Ford Motor Company which gives you a 3 year or 36,000 mile warranty on most vehicles wanted to issue a proclamation that says all 2011 F 150's now have a 4 year or 50,000 mile warranty then that would be an extended warranty. Whether you buy your coverage at the dealership or from someone else it is not really legally speaking an extended warranty. It is in fact a service contract. Many dealerships sell a variety of plans from different administrators. A service contract can be compared to insurance coverage. Ford does not insure your vehicle. Instead someone like Allstate, State Farm or Farmers protects your vehicle. The same way a service contract may be administered by American Guardian or Royal Administration while that company is underwritten by an insurance company like Virginia Surety Company or Lyndon Insurance Company. The point is you should make sure you get a good solid product from a reputable company that has been in business for years. National Vehicle Headquarters is just such a company. So the next time some one asks you if you want extended warranty just tell them don't you mean a service contract?
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