If you’re a Chrysler owner, there’s no doubt you’ve heard about their bankruptcy filing this week. It’s been a hot topic, with everyone from the worker on the line to our President weighing in.
One thing we haven’t heard much about, however, is how Chrysler owners will be effected by the bankruptcy filing. Being in the extended warranty business, we’re frequently fielding the following questions:
How will my factory warranty coverage be effected by Chrysler’s bankruptcy?
The President said that Chrysler purchasers would be protected even if Chrysler filed bankruptcy. Are there any caveats?
Does my extended warranty coverage immediately go into effect if Chrysler’s factory warranty is terminated?
Lemon Law:
The general definition of a Lemon Law vehicle: A vehicle with (a) major, repeated problem(s) that has been repurchased by, or had its purchase price renegotiated with, the manufacturer. The state then earmarks these as Lemon Law or Buyback vehicles. These vehicles are ineligible for coverage.
Maintenance Guidelines:
This is the normal, routine maintenance that is recommended by the manufacturer of your vehicle to keep the vehicle in optimum condition. These include such things as oil changes, tune-ups, checking fluid levels, tire rotations, wheel alignments, belts, hoses and others as described in your owner’s manual.
Manufacturer’s Warranty:
This is the standard warranty that every new vehicle sold comes with. All factory-installed parts are covered against defects. Typical manufacturer warranties are 3 years or 36,000 miles or 4 years or 50,000 miles. Check your manufacturer’s warranty manual for warranty information or visit our Manufacturer’s Warranty page. Read more...
A new car comes with several different warranties from the factory, each covering specific parts of your vehicle.
Manufacturer’s Warranties
Basic Warranty – The specific terms established by each manufacturer (typically 3 years/36,000 miles for domestic and Asian vehicles and 4 years/50,000 miles for luxury cars) to repair vehicles for a specific time and/or mileage period. All factory installed parts and some dealer installed accessories are covered for defects and workmanship. Consumable items (tires, wiper blades, battery) are not covered under the basic warranty, although some of these parts may have their own warranty. Commonly called the “bumper-to-bumper” warranty, it is the most comprehensive of all new car warranties. Read more...
