March 12, 2013 |
It was the sort of letter designed to get attention. "Final attempt to notify," it said on the outside. Within, an official-looking "product warranty expiration notice" said that my Toyota's service contract "is expiring or has expired. " It provided a number to call "to extend coverage. " This was troubling because when I purchased my "certified pre-owned" car from a dealer in 2011, I paid $1,700 for a seven-year, 100,000-mile extended warranty. Now it was expiring? The answer, of course, was no. And the racket I'm about to run down is yet another reminder that you need to examine closely anything that even remotely looks like a financial warning.
August 14, 2012
They're nearly new and hardly used - as close to pristine as pre-owned can get. No surprise that certified pre-owned vehicles are an increasingly popular option for car shoppers, offering peace of mind and dependability with sticker prices that don't shock. We're talking refurbished rides for far less than the latest models. All that's missing is that sweet new-car smell - and even that might linger in some late-model CPO rides (many are only a year or two old with scant ticks on the odometer)
February 21, 2012 |
So much for the long-held notion that Americans purchase a new car and flip it every three or four years. People who buy new cars are holding on to their vehicles for a record amount of time, an average of almost six years, according to the automotive research firm R.L. Polk & Co. The recent recession has pushed people to hold on to their cars and pay off their loans. In the process, they discovered that their vehicles were more reliable than they might have expected, said Mark Seng, a Polk analyst.
December 28, 2011 |
Italy has fined Apple 900,000 euros, or about $1.2 million, accusing the tech giant of selling consumers two-year AppleCare warranties when they were entitled to free two-year warranties under Italian law. The Italian Antitrust Authority said in a statement that instead of offering consumers a no-cost, two-year warranty and tech-support plan, Apple offered only a one-year plan and charged consumers an extension fee for the second year in the form...
July 3, 2011 |
The settlement of a major class-action suit is shedding new light on a controversial real estate practice that home buyers and sellers typically know little about: fees paid to realty brokers and agents for promoting home warranty policies. The case involves potentially thousands of buyers and sellers who bought warranty coverage from American Home Shield Corp. between May 2008 and March of this year. American Home Shield is the dominant player in the home warranty field, with sales of $657 million in 2010, according to the company.
January 19, 2011 |
Toyota Motor Corp. has agreed to settle a class action lawsuit over headlights in its 2006 to 2009 Prius hybrids that shut off without warning, triggering at least 2,500 complaints from motorists. Under the terms of the settlement, eligible Prius owners will be reimbursed for their costs to fix failing headlight systems. They will also get their warranties for headlight problems extended to five years or 50,000 miles, rather than the standard three years or 36,000 miles. Although there was no dollar figure connected to the settlement, attorneys for plaintiffs estimated that the toll could run into the tens of millions of dollars, based on the number of vehicles potentially affected by the headlight problem.