Fleet Management News & Business Info | Commercial Carrier Journal
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66 commercial carrier journal | march 2018 Aftermarket warranties protect owners of older, used trucks BY JASON CANNON F or those averse to risk, there's no more uncomfortable moment than the day aer a truck warranty expires. Some buyers of used trucks never feel the sense of relief that comes with not having to shoulder all the financial load of a major equipment failure. Fortunately, aermarket warranties are available for used equipment and for extending coverage beyond a factory war- ranty's expiration date. However, levels of coverage differ from standard fac- tory warranties. While a manufacturer's warranty may cover everything from the powertrain to the radio, aermarket war- ranties generally offer coverage for only critical parts. "OEMs typically cover many more items, many of which don't ever fail or that are not expensive to replace," says Lynn Murphy, president and chief execu- tive officer of Premium 2000. "As much as I dislike this description, an OEM has 'bumper-to-bumper' responsibility for a prescribed term length. Aermarket warranties typically cover expensive game-changing repairs — ones that can bankrupt a commercial truck owner." Aermarket warranties focus primar- ily on the engine, aertreatment system, transmission and rear axles since a pow- ertrain failure can mean expensive parts, labor and downtime. "Most second-life buyers are undercapi- talized," says Ted Fick, executive chairman of National Truck Protection. "ey only have enough down-payment for a used truck, and the last thing they can afford is to pay for a $20,000 engine repair. For a few-hundred-dollar deductible, you can prevent yourself from being thrown into bankruptcy." In most cases, any truck that passes an underwriter's certification inspection is EDITOR'S NOTE: THE FOLLOWING STORY IS PART 3 OF A THREE-PART SERIES ON "OUT-OF-WARRANTY TRUCKS." JANUARY'S INSTALLMENT FOCUSED ON OIL DRAIN INTERVALS. FEBRUARY'S STORY ADDRESSED DIAGNOSTICS. Failure along the powertrain can mean expensive parts, labor and downtime.