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Don Rowans had a craftsman ratchet that broke, but Sears honored its lifetime warranty by replacing it without question. Not all warranties are as reliable. Nicole Vance Cotan and her fiance bought a used car with a limited lifetime warranty that was denied when the transmission failed. The warranty excluded coverage for alterations made by the original owner, although the couple was assured otherwise by the sales team. It is essential to read the fine print of warranties carefully and not assume that "lifetime" means your lifetime, as it may refer to the product's expected lifetime. A "limited lifetime warranty" comes with restrictions and limitations.