Guys,
Maybe this concept will give you a different perspective.
What toy or model or machine can you buy that has an express warranty against defects for more than 1 year? NONE.
Automobiles? You can pay $80,000 for a new auto, and it will only come with a 36 month warranty. That's a pathetic 3 years.
Do the auto makers do repairs after that period? Yes, but only for safety issues, as required by the Consumer Products Safety Commission or the FTC.
So, here, we are talking about toy trains, which have a zinc manufacturing defect that generally shows up and creates a failure after 5 to 10 years.
Had Lionel actually given an express warranty when selling its engines and cars, I can guarantee you that it would have been a warranty of 1 year only, with the sole remedy being repair or replacement of the product, not a cash refund.
I know that this zinc rot issue is real bad surprise, but remember, these are toys. A little expensive yes, but no more so than a smart phone or computer, which generally only last 5 years and are then dumped in the trash heap.
Mannyrock