What's the difference between a guarantee and a warranty?

A guarantee:

• Is usually free
• It's a promise to sort out any defects with a product or service within a fixed period of time
• It's a legally binding contract, even if you didn't pay for it
• It must explain how to go about making a claim in a way that is easy to understand
• It should add to, not take away from, your rights under consumer law
• It works whether or not you have a warranty

A warranty:

• A warranty is like an insurance policy for which you must pay a premium
• Sometimes it's called an 'extended guarantee'
• It might cover a longer period than a guarantee, and it might cover a wider range of problems
• A warranty is a legal contract, so you can take the company to court if they don't honour it
• The terms of the contract should be clear and fair
• Having a warranty doesn't diminish your rights under consumer law
• A warranty can run alongside a guarantee