Overhaulin'

How do I sell a used car with a purchased warranty?

I bought a used car last year, and I purchased a 3 year warranty. Now I am looking to sell the car due to financial difficulties. How does this work. Can I get money back on the warranty or do I just have to hope a buyer wants the warranty as part of the deal?

Public Comments

1. I doubt you'd get much of a refund back from the warranty company, but you could offer to tansfer the warranty to the new owner as an incentive to close the deal.
2. Read over your warranty document(s). Perhaps you can transfer the warranty to a new owner, but under certain restrictions (such as it has to be a private sale, and you have to submit a paperwork/documentation fee). If you can transfer it, it is up to you and the party that you are selling the car to if the warranty is worth a greater value on the car sale. Perhaps you cannot transfer the warranty to a new owner, under certain reasons (such as a sale to a dealership or other resale outlet). The warranty documents may also outline if and how you can cancel the warranty (such as if you cannot transfer the warranty). Oftentimes, you can get a pro-rata refund for the unused time/mileage portion of your warranty, less a processing fee. Some warranties may only refund you if you haven't used it at all. So, check your paperwork!
3. Typically, you can cancel an extended warranty, however they are pro-rated so you will only receive a fraction of what you paid for it. As far as transferring it to the buyer, you would have to check with the company to see if your warranty is transferable. Good luck. http://www.theautoevaluator.net/Resources.html