Tier 1 costs £1,495 a year to renew.
Up to 100,000 miles the Tier 1 warranty covers all mechanical and all electrical faults - including 'wear and tear'.
After 100,000 miles it still covers all mechanical and all electrical breakdowns, but then excludes wear and tear.
To be clear, after 100,000 miles the warranty fully covers all sealed units e.g., engine and gearbox, as well as electrical items. Wear and tear really only comes into play with parts that 'rub together'.
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