Used Car Warranty
A used car warranty can be a tricky subject for a first-timer, and misconceptions about it have led to headaches and lawsuits. Dispel these used car warranty fallacies to protect you against deceitful dealers and save yourself from stress.
Myth #1: If a car has low mileage, it is still covered by the manufacturer’s warranty.
A dealer might tell you this just to close the deal and make his commission, so beware. Most manufacturers do not honor warranties that are passed on from the original owner to the succeeding buyer, or they may impose a hefty fee for such an arrangement. It’s a good idea to call the car manufacturer to ask about this before you sign any contracts.
Myth #2: A used car warranty is a full warranty.
There is a big difference between a used car warranty and a full warranty – the coverage. Full warranties are given mostly to brand new cars, and cover the vehicle comprehensively (from power train to drive train to corrosion warranty and more). You are not entitled to the same benefits. Because you are buying a used car, the manufacturer can no longer guarantee its condition.
A realistic used car warranty only lasts for 30 days. During that time if any problems occur, you and your dealer split the costs. Be careful about the fine print because there may be a lot of catches and exclusions. The key to protecting yourself is reading everything before you pay for the car. Don’t’ set your expectations too high – you are, after all, buying a used car. If there are provisions in the warranty that are objectionable to you, either discuss them with the dealer or live with it and hope nothing happens.
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