Difference between Warranty and Guarantee

Difference between Warranty and Guarantee

At the present time, these words are prevalent in the market. Whenever you purchase new product, the vendor provides you the certain commitment for the particular item which is known as Warranty and Guarantee. It is regarding for the durability of product. However, customers get often confused with respect to the actual meaning of these shopping terms.

As soon as you enter in the market, most of the sellers lure the customers by promising them many things. However, if the product is defective, you will lose all your money.

In this case, Warranty and Guarantee are proved helpful for you. It is a kind of promise or commitment by the side of manufacturer or vendor for customers. It ensures that the product will easily replace or repair if there is any issue recognise in product. Let’s discuss both in detail with the definitions:

What is Warranty?

Warranty denotes assurance which is provided by manufacturers to his customers who came to buy any specific product. The storekeeper emphasizes the quality, fitness, performance, durability and specification of any product in order to increase its selling. If your product has been damaged, the company will only repaired your product within a certain warranty period. While on the other hand if your item has been broken, it’ll not be replaced at any cost.

Apart from this company will not ask for a single rupee during reparation. Due to it, several customers could believe on the accuracy and precision of the product. Such Companies run several tests to decide an appropriate time span for the warranty and after that they provide services accordingly.

Generally Warranty is mostly offer with tangible objects such as electronic items and machines etc. If you purchase washing machine two months ago and is covered under a 6 months warranty but it stops working suddenly under its warranty period, you can take it to the service centre and get it repaired for free. On the other hand, if your product is out of warranty span, then you’ll have to pay something as a service charge.

Generally the duration for warranty coverage of product is one year or Twelvemonths.

Types of warranty:

There are mainly three types of warranty which is associated with the products. Let’s discuss in detail:

1. Extended Warranty:

Extended Warranty is the warranty that can be increased by paying some extra money on the purchasing of product by buyer. Basically by additional money we can buy assurance longer than the warranty period.

• Implied Warranty:

Implied warranty is a unwritten and unstated. This type of warranty is obvious and self understood by both the parties; seller and buyer as well. Implied warranty is really tough to prove.

• Express Warranty:

It is a warranty through statement which is given by the seller whether in verbal or written form and also known as Expressed Warranty. It means when a vendor give the assurance through expression (orally or in written) Warranty card is a kind of express warranty. It is easy to claim.

Some major benefits of Warranty:-

If any product is covered long term warranty, its durability increases automatically. Companies provide warranty period on the specific product accordingly. Every product has its own warranty span. Let’s know the benefits of warranty;

• Consumers have opportunity to get repairing of damaged product if there are any manufacturer defects but make sure that your product should come under warranty duration or warranty span.
• If your product is covering a specified warranty period, you don’t need to pay anything for repairs and services.
• If customer’s product can’t be repaired by service centre, you will get a chance to replace it but first let your buyer know about the replacement process because don’t do so is not even legally wrong but also ethically unfair.
• For some specific products, by paying some reasonable amount buyer can increase the duration of warranty span which is extremely beneficial in a long run. It is kind of additional support provided by the manufacturer.
• The commitment of warranty is given on a document called warranty card. You must remember if you are buying product with a warranty, don’t forget to take warranty card from vendor.
• Warranty is basically related to the durability, quality, efficiency and performance of the product.

Which are the warranty products?

There are some specific products coming with the warranty. Warranty is not given on every product. It is mostly provide on tangible or fragile items, electronic gadgets and appliances like refrigerator, air conditioner, washing machine, mobile phone and laptops etc.

Terms and conditions for warranty:

Every right comes with the duties or responsibilities. This is important for preserve some fair and ethical rights in favour of manufacturer or vendor. So that any buyerdon’tused warranty over a product unethically.

Here are some terms and conditions which is associated with the warranty:

• If your product has been broken due to fall or burn due to voltage variation, this will not come under warranty and you can’t repair your product for free.
• Sometimes warranty is only covered special components of product instead of the entire product. So you must ask to the vendor that the warranty covers the whole product or just specific components.
• Your product will not repair for free if it is out of warranty span. Before going to the service centre must check the dates.
• Warranty does not cover the natural wear and tear. It is only cover the defective parts and other minor defects. For example; in cars clutch, brake pads, footrest in scooters, handles in appliances; does not cover. Because of the frequent uses of such parts the possibility of natural damaging is quite normal.
• Warranty for some products does not cover the whole product like strap, handle, plating etc. It can only cover the machinery part. For example: in watch company does not provide warranty over the whole watch. It only covers the dial or machine. It does not cover the regular wear and tear of watch’s strap.

What is Guarantee?

Guarantee is basically a advance version of warranty. Guarantee consist some additional features which in beneficial for buyer. Guarantee of a product somewhere convey a message that their product is more reliable. In the case of guarantee, the manufacturer is more confident and committed about the quality and performance of their product.

So we can say that guarantee is given more assurance of the product.

Guarantee is a commitment made by seller or a vendor that in case of any issue regarding the low quality of product or if the product or service can not satisfy the buyer expectations (according to the facts and promises which had done) the company will not only repair it but also replace it. Also if they do not have a product in replacement they will also refund the whole money of buyer.

Massive advantages of Guarantee:

There are extreme benefits of getting guarantee on product. It is a contract between the consumer and trader regarding the assurance and commitment of quality of the product.On assurance and satisfaction point of view, there are lot of benefits of product covering guarantee:

• In case of manufacturer defects which occur within the guarantee period, customer or buyer has a benefit to getting the repair or replace of the product.
• In the unavailability of same product seller must have to refund your whole money.
• Guarantee is a commitment regarding the quality of product, and customer feel more satisfied while purchasing a guaranteed product.
• Guarantee can also be merged with the warranty. It means if you buy a product with one year guarantee, so by paying extend money, you can convert the guarantee into warranty. After one year, you can continue warranty span of product. It varies product by product.

Guarantee terms and conditions:

There are certain aspects which are covered by guarantee:

• The guarantee period is start from the date of delivery.
• The guarantee does not affect the specific legal rights of the owner.
• Mostly it is difficult to prove guarantee claim, because guarantee is like a liability for the seller. So the seller avoid the written prove of guarantee.
• The warranty does not cover water damage and regular wear and tear caused by the daily usage.
• A manufacturer provide guarantee if and only if they are absolutely sure about the product and their man power for customer’s satisfaction.

Difference between Guarantee and Warranty:-

Most of the buyer has no idea about guarantee& warranty terms and difference between these terms. Both of them provide protection to the customer regarding their purchasing. But if you are going to buy something, you must ask about whether you get guarantee on the product or warranty. You should be aware about it and keep it absolute clear, by discussing with the seller or manufacturer.

Here are few key differences between warranty and guarantee. Let’s see in detail:

• Warranty covers the repairing of manufacturer defect, while on the other hand guarantee provide on the product, services and absolute customer’s satisfaction.
• In warranty, after purchasing if there is any manufacturing defect you can go to the service centre and repair or replace your product. Whereas, guarantee is a kind of promise, which cover all the aspects about product. If there is a damaging or manufacturer defect in your product, you will get repair, replace or the money will be refunded.
• If the product is below customer’s expectation and they are not satisfied. In case of guarantee, they can claim and get their money back. On the other hand, warranty does not cover the money back policy unless the service centre able to repair or replace.
• Warranty is more formal than guarantee. Because it is not easy to give the 100% assurance over any product.

For bring more clarity and understand deeply, let’s see the major differences describe in the tabular form:

Basis of difference	Warranty	Guarantee
Meaning	In case of manufacturer defect, buyer can repair or replace their product.	In guarantee, if any defect found, buyer have a benefit of repair, replace or refund.
Refund Policy	There is no chance to getting money back. You can only repair your product for free.	Guarantee gives assurance to refund your money back if same product can be replaced.
Generally Used	In formal culture warranty is mostly used.	It is not easy to give guarantee on the product for seller.
Reliable	Warranty does not assured and committed 100% for product.	Guarantee gives a buyer hundred percent assurances and protection.
Additional Support	Warranty only covers the product and its quality.	Guarantee covers the whole aspect that is product, its quality and services.
Customer’s satisfaction	Warranty does not cover the customer’s satisfaction.	Customer’s satisfaction is absolutely must in guarantee.
Liability	For a seller, provide warranty over a product is not more liable. Because it only covers the repairing for free.	Sometimes, guarantee is like a liability due to covering all aspects, the cost is high.
Extension time span	Warranty span can be extended by adding more money.	Time period of guarantee is quite difficult to extend.
Form	Warranty can be proven by warranty card. It is given by the seller in form of written and oral form.	As a buyer’s perception it is difficult to prove guarantee for products. Because this contract is not on paper.

Conclusion:-

Although warranty and guarantee are two different things. Yet it is the customer or seller right to ask about it. It is depends on customer’s awareness to get the complete information about product, its performance, whether the product is in guarantee or warranty and know the details about the terms and conditions. If seller gives you a warranty card, then read all the details carefully.