Sales of extended warranties have suffered ever since the much-hyped inquiry into claims that a monopoly market existed.
Headlines claiming that extended warranties are a “rip-off” and a total waste of money were somewhat unfounded, and have done nothing to support dealers, who are bearing the brunt of consumers reactions.
The Competition Commission revealed its findings into the extended warranties market, following a 15-month investigation back in December and there is still some work to do.
The future of the extended warranties market is currently being examined by the Department of Trade and Industry, which is due to launch a consultation document in the Spring.
All being well, the new laws concerning the sales and marketing of extended warranties will come into effect during the Autumn.
Read the full article on ERT!