Are you like 51% of those who are ready to buy a new vehicle? These individuals actually research car warranty offers before they choose the vehicle they will purchase. As you prepare to purchase your next vehicle, you should do some research so that you understand some vehicle warranty myths.
Not All Factory Warranties Are the Same
When you find a new BMW for sale, you may also find that you can choose between several types of warranties. Some dealerships or manufacturers offer bumper-to-bumper warranties, while others offer longer-term powertrain warranties.
Abuse Can Void a Factory Warranty
Car warranties can become void if you abuse your vehicle. This includes not completing your regular maintenance. However, your driving habits can also contribute to this type of violation. In addition, you shouldn’t drive when your vehicle has issues, such as overheating, because it causes significant damage to the engine that would not occur otherwise.
In addition, you should not use the vehicle for something it was not intended to do, such as driving on a racetrack or in a competition. Off-roading can also void your warranty even if you purchased an off-road vehicle.
Bumper-to-Bumper Warranties Do Not Cover Everything
When you purchase a new vehicle, you may receive a bumper-to-bumper warranty for a specific number of months or miles, e.g., 10 years or 100,000 miles or 36 months or 36,000 miles. However, these warranties do not cover maintenance items, such as oil filters, brake pads or wiper blades may not receive coverage. You may even have to pay for belts and light bulbs.
In addition, the warranty will not cover every single repair. For example, those parts that are not the result of a factory defect may not receive coverage. The manufacturer is unlikely to cover damage from general wear and tear or accidents. Even systems, such as your engine, that receive coverage may have limits.
Extended Warranty Myths
Not every vehicle can benefit from an extended warranty. For example, if you have a full emergency savings account or a vehicle on its last leg, you may not need this type of warranty.
In addition, these warranties do not cover everything. Most offer coverage on key systems, including your transmission or engine, but won’t cover minor systems, such as your heater. Some companies offer bumper-to-bumper options that still leave parts, maintenance, and systems out of the program.
You Void Your Warranty if You Don’t Do Your Maintenance at the Dealership
The Magnuson-Moss Warranty Act states that you do not have to get your car serviced at the dealership to stay within your warranty requirements. Also, this act protects you by ensuring that the manufacturer refunds or replaces your vehicle if it is a lemon.
Aftermarket Parts Can Void Your Warranty
If a dealership or warranty company can prove that you used aftermarket, used, or OEM parts or incorrect fluids, they can void your warranty. For example, you also cannot install performance enhancements, such as a turbocharger or exhaust systems, that impact your engine’s performance.
Do Your Warranty Research
As you research your new vehicle, ask questions about the factory and lifetime or extended warranties. Find out exactly what the company covers and what you need to pay for. Also, learn about anything that could void your warranty.