What is Extended Warranty?

A warranty is an express or implied promise that a product is in fact as it is represented to be. The warranty is part of the deal. An extended warranty is an additional warranty sometimes sold along with the original purchase of the product, such as an automobile, that covers repair costs over and above those covered by the basic warranty. In addition, an extended warranty may extend the period of time the basic warranty is in effect, or extend the parts of the product covered. A warranty of fitness is a guarantee implied by the manufacturer, retailer, and distributor of a product, that the product is fit for its intended purpose and foreseeable use.