The major differences between guarantee and warranty are described below:
The guarantee serves as a promise made by the manufacturer, to the buyer, that in case the product is below the specified quality, it will be repaired, replaced or the money deposited will be refunded. Warranty is a written assurance that the facts specified in the product are true and genuine, but if they are not it will be repaired or replaced.
The guarantee is a sort of commitment made by the manufacturer to the purchaser of goods, whereas Warranty is an assurance given to the buyer by the manufacturer of the goods.
Guarantees can be oral or written, where oral guarantees are very hard to prove. As opposed to warranty, which is usually written and so, it can be easily proven.
The guarantee covers product, service, persons and consumer satisfaction while warranty covers products only.
The guarantee is free of cost. On the other hand, the customer should have to pay for the warranty to safeguard the interest.
A guarantee is comparatively less formal than a warranty.
The term of the guarantee varies from item to item. Conversely, the warranty is for long-term or any product or any part of the product.
In the case of guarantee, money back is possible, if stated specifically, however, this is not possible under warranty.
A warranty is a subsidiary condition of sale, which may be expressed or implied. On the other hand, the guarantee may or may not be a condition of sale.