(1) Any action brought under this chapter shall be commenced within six (6) months following: Expiration of the express warranty term; or
(2) One (1) year following the date of original delivery of the motor vehicle to a consumer, whichever is the later date.
(3) The statute of limitations shall be tolled for the period beginning on the date when the consumer submits a dispute to an informal dispute settlement procedure as provided in § 55-24-106 and ending on the date of its decision or the date before which the manufacturer, its agent or its authorized dealer is required by the decision to fulfill its terms, whichever comes later.