An Explanation of Car Warranties in Australia

An Explanation of Car Warranties in Australia from Finance Funding Australia

By: Finance Funding Australia  19-Aug-2013
Keywords: Car Finance, Car Finance Melbourne, Car Leasing Melbourne Car Loans Melbourne, Caravan Finance, Caravan Loans, Eq

After you apply and qualify for a car loan, it’s time to start thinking about the costs you may incur during ownership of the vehicle. The purchase price is the first investment you make into the car, and if you couldn’t pay for the car up front then you’re reminded each month about your investment when you have to make your monthly payment. But your car will cost you more than the purchase price if you own it for an extended period. That’s why it’s important to understand the different warranties available to you and whether or not investing in extended warranties is a good idea. Types of Car Warranties After you’re done dealing with the finance broker in Melbourne who helped you get a loan, it’s time to talk to the dealership about warranties. A statutory warranty is one that automatically requires a dealership to fix any defective parts for up to a year after purchase. Some statutory warranties may go longer, but most dealerships offer a general one year or 20,000km warranty because that’s the only legal requirement. A manufacturer’s warranty comes directly from the manufacturer of your vehicle. This warranty extends beyond the statutory warranty, usually lasting anywhere from two to three years after you purchase the vehicle. This warranty will cover all of your vehicle’s operating system including but not limited to the brakes, engine, air conditioning, and steering mechanism. In some cases your car’s battery is also covered, but this warranty is sometimes separate and for a much shorter duration than a manufacturer’s warranty. If you took out a car loan on a used vehicle, you will still qualify for a statutory warranty of three months or 5,000km. The warranty will cover the same parts as a new car warranty; it just doesn’t last as long. You may also opt for an extended warranty that extends not only the duration of the warranty, but may include parts of the vehicle not included in the original warranty. Non-Warrantable Cars and Trucks If you took out a truck loan on a truck that’s more than 10 years old or has over 160,000km on it, you probably won’t qualify for any sort of warranty. The truck will sell with a slip that deems it unwarrantable but able to drive on the roadways. The only warranty that your truck is eligible for is if you put new components on it that come with a manufacturer’s warranty. Once you understand the types of warranties available, it’s important to read the fine print and make sure that the warranty you choose is right for your needs.

Keywords: Car Finance, Car Finance Melbourne, Car Leasing Melbourne Car Loans Melbourne, Caravan Finance, Caravan Loans, Eq

Contact Finance Funding Australia

Email

Print this page

Other news and updates from Finance Funding Australia

Have You Considered a Truck Loan Within Your Start-Up Business Budget? from Finance Funding Australia thumbnail
05-Sep-2013

Have You Considered a Truck Loan Within Your Start-Up Business Budget?

Regardless of if you have a business as a sole trader, limited company or partnership, it’s essential to carefully manage budgeting concerns so you’re more able to seize opportunities that arise and ensure the income you’re generating is always greater than the amount you’re spending each month. Keeping track of spending carefully is something you should do at all times, but particularly during the earliest stages of your business.


Should You Roll All of Your Loans Into One New Deal? from Finance Funding Australia thumbnail
15-Jul-2013

Should You Roll All of Your Loans Into One New Deal?

When you’re discussing the potential purchase of a new car with your finance broker in Melbourne, it’s difficult to know when it is a good time to complete the application. If you’re going onto a standard variable interest rate, then the amount you pay can vary over the course of the loan, but if you’re going to fix the monthly repayment, you will want to complete the deal when interest rates are at their lowest possible level.


Without a Battery, Your Car is Going Nowhere from Finance Funding Australia thumbnail
01-Jul-2013

Without a Battery, Your Car is Going Nowhere

By keeping a close and regular watch on the condition of your car battery, you will save yourself from the problems of the battery letting you down at the worst possible moment. Your car will probably not let you down when your only task is to drive 400 yards to collect a daily newspaper. It is more likely to let you down just as you’re leaving for work or as you need to start out on the school run to collect your children.


How to Secure the Best Motorbike Finance Deals in Melbourne from Finance Funding Australia thumbnail
18-Jun-2013

How to Secure the Best Motorbike Finance Deals in Melbourne

When you are feeling ill, you go to the doctor. When your teeth are aching you head off to the dentist. Why, therefore, do you ask your best friends for their opinions of the best motorbike finance deals available, when you could talk to a finance broker in Melbourne who can offer you their professional opinion?


COMPANY PROFILE from Finance Funding Australia thumbnail
10-May-2013

COMPANY PROFILE

Finance Funding Australia was formed by a team of consultants who have worked in the finance & automotive industry for over 17 years, some being AWARDED with recognitions in all fields of their working career in customer service and renowned for a customer base that have always returned again and again to all the companies they had been working with.


Finance Funding Australia’s CEO Comments on Recent Report on Car Sales from Finance Funding Australia thumbnail
17-Apr-2013

Finance Funding Australia’s CEO Comments on Recent Report on Car Sales

Recent reports of high car sales in February sparks commentary from CEO of Finance Funding Australia. According to a recent news article on Reuters.com titled Australia Feb new vehicle sales up 5.2 pct y/y-industry, the first two months of 2013 shows sales of new vehicles in Australia up 8.1 per cent from the same period last year.


Finance Funding Australia’s CEO Comments on Australia’s Hot Car-Buying Streak from Finance Funding Australia thumbnail
03-Apr-2013

Finance Funding Australia’s CEO Comments on Australia’s Hot Car-Buying Streak

A recent news article reported that Australia’s car-buying streak is still running despite last year’s all-time high, prompting a response from Finance Funding Australia’s CEO. According to a recent article on news.com.au titled New car buyers in Australia break new sales record in January, Australia is headed for another record year in car sales despite hitting an all-time high last year. This prompts a commentary from Justine Milankovic, CEO of car loan company Finance Funding Australia.


Car Sales Reach New Highs after Interest Rate Cuts from Finance Funding Australia thumbnail
21-Feb-2013

Car Sales Reach New Highs after Interest Rate Cuts

The Reserve Bank’s recent interest rate cuts have spurred a new high in car sales, and a modest increase in home loans. To buy their cars, consumers will benefit from finance funding like those offered by Finance Funding Australia, a company that specializes in low cost car loans.


Car Finance Specialists from Finance Funding Australia thumbnail
26-Nov-2012

Car Finance Specialists

At Finance Funding Australia we offer a number of different car finance facilities for both personal and business customers. We offer car finance for both new and used cars and can have you driving your vehicle within 24 hours from approval. Finance Funding Australia has a number of different lenders to choose from therefore advising you on the best facility to suit your needs. Call our professional car finance consultants on 1300 855 451 or request a quote on line for more information.


HOME LOANS from Finance Funding Australia thumbnail
19-Oct-2012

HOME LOANS

At Finance Funding Australia we offer a panel of top mortgage lenders which allows us to find the right home loan that best suits your needs. Whether it’s your first home, you’re upgrading or downsizing your next home, looking at refinancing or purchasing an investment property you can rely on Finance Funding Australia to help you along every step of the process with minimum fuss. Our property finance consultants will help you select the best loan for your new purchase.