Creative Consumer: How to Protect Your New Gifts

Dec. 24, 2007 — -- Right now, you're either smugly satisfied that your holiday shopping is done, or you're on an adrenaline binge as you do it last minute. So, what happens afterward when one of your prized purchases breaks down, unravels or falls apart? That's where warranties come in.

Even if the product you buy doesn't come with a written warranty, you are still covered by some unwritten warranties guaranteed by the federal government.

The first is called an "implied warranty of merchantability," which basically means that a product must do what it's supposed to do. In other words, a blender must blend, and a toaster must toast. If the item you buy turns out to be defective, even if the seller has a "no returns" policy, you may be able to return it, anyway.

There's also an unwritten warranty, called a "warranty of fitness for a particular purpose," like when a salesperson says a sleeping bag is suitable for zero-degree weather. These unwritten warranties apply, unless the product is marked "as is" when you buy it. So, go back to the store and throw those terms around and see how you do.

By contrast, a "lifetime warranty" is only as good as the company backing it. You probably assumed "lifetime" means your lifetime, right? Not always. There's no set legal definition of "lifetime warranty." Some weasely companies choose to interpret it as the lifetime of the product. I know. It's ridiculous. That's like saying, "this product is warranted to last as long as it lasts." Companies that do it this way set an amount of time that they think their product should reasonably last. If your item breaks during that time, they'll repair or replace it. If it breaks later, you're out of luck.

I have this soft-sided leather briefcase that I absolutely love. I've had it for 10 years — or, at least one like it. You see, the briefcase came with a lifetime warranty. I've had it replaced twice. Once, the strap broke under the massive weight of my files. The second time, the stitching unraveled … under the massive weight of my files. Both times, the manufacturer came through for me, but only because it's a good company.