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LTDA: Understanding your taxi manufacturer’s warranty
As cab drivers, we study the most famous exam, the Knowledge of London, to qualify to become part of the world's best taxi service. London cabbies are also known for having an extra-large hippocampus, the area of the brain which plays a key role in learning and memory. In view of all this, it does surprise me that when purchasing a cab, perhaps one of the biggest purchases they will make, that they don't ask more questions about the manufacturer's warranty.
The decision to invest in a new taxi is a significant milestone in your career as a cabbie. Buying a new taxi not only ensures passenger safety and comfort, but also provides peace of mind for the long road ahead. I know most drivers will do their due diligence and will investigate a payment plan that suits their needs when deciding to purchase a cab - whether it will be a PCP or to buy the cab outright. However, an equally crucial aspect of this process is understanding the manufacturer's warranty that comes with your new vehicle.
Key things to consider
There are many important questions you need to be able to answer. Does the cab come with three or five years, and if only three, what are the added costs to have five years? Purchasing a new taxi is an investment in your livelihood, and understanding the manufacturer's warranty is key to protecting your ability to make a living and safeguarding your investment for the long term. Here are some key things to think about. I hope you find this helpful.
Manufacturer's reputation
As a manufacturer of specialist vehicles, LEVC stand behind their products with a comprehensive warranty. One of the key things that taxi drivers expect is excellent after-sales support. Although some drivers have had issues and say that LEVC's aftercare service is not always up to scratch (a couple have told me that it is becoming like the old days, when Mann Overton didn't care about the driver once he left the showroom), but I have a different view, as I speak to the team at LEVC regularly and often work with them to try to get a positive outcome and resolve drivers' problems. I am not saying problems don't happen, but they do seem to genuinely care and want to help drivers as best they can.
Understanding the coverage
The manufacturer's warranty typically covers certain aspects of the vehicle for a specific period or mileage, whichever comes first. It's crucial to read and understand the warranty document thoroughly to know what components are covered and what is excluded. Most warranties cover essential systems like the engine, transmission, and drivetrain, but details may vary from one manufacturer to another.
Warranty duration
The duration of the manufacturer's warranty can vary, with some lasting for a set number of years or a specific mileage limit.
Longer warranties can provide extended protection, but they may also reflect the manufacturer's confidence in their vehicle's quality. Always take the longest warranty on offer. Whilst it might be more expensive upfront, the peace of mind and extra cover will be worth it in the long run. For example, an LEVC TX comes with three years as standard but there is an option for an extended five-year warranty, which is what I would suggest you go with. It also means that if you want to part-ex the cab later on (before the five years is up) it will be more valuable - typically worth about £3,000 more.
Transferability
For taxi drivers who plan to sell their vehicles in the future, it's essential to check if the manufacturer's warranty is transferable to the new owner. A transferable warranty can increase the resale value of the taxi, as potential buyers will have added assurance.
Limitations and exclusions
It's equally important to be aware of the limitations and exclusions in the warranty coverage. Make sure you read the terms and conditions thoroughly as some warranties may not cover wear and tear items, routine maintenance, or damage caused by accidents or improper use. Understanding these limitations can help you plan for potential expenses that may not be covered by the warranty.
Authorised service centres
To maintain the manufacturer terms and conditions, all work is to be carried by authorised garages and dealerships. This ensures that the proper manufacturer approved parts are used and that repairs are performed by skilled technicians who are familiar with the taxi model. This also applies to any bodywork.
Records and maintenance logs
To ensure the validity of the warranty, it's also crucial to keep detailed records of all maintenance and repairs performed on the taxi. Following the manufacturer's recommended maintenance schedule is essential to preserve the warranty coverage.
