Are you having trouble selling your automobile? If you purchased an aftermarket used car warranty, you should be aware that you can transfer it to a new owner for a small fee, usually around $50. This can make a great difference in a potential buyer’s perception of the value of your vehicle. An extended warranty vehicle insures vehicle reliability and may secure a faster sales transaction for you. Transfer rules and guidelines should be clearly explained in your warranty contract. Become familiar with the terms and conditions of your car extended plan warranty contract.
Transferring an Extended Warranty on Vehicle Saved Me Thousands
I recently purchased a used 2004 Mercedes SL500 from an elderly gentleman. We transferred the used vehicle extended warranty to my name at the time of purchase, and boy, am I glad we did! Six months into my new ownership, the electronic air suspension failed, stranding my convertible and giving it the “Low Rider” look. Knowing beforehand the national extended auto warranty would cover the repair, I brought the car to the most expensive place I could find, our local Mercedes dealer! Imagine my relief when the service manager said the $3,500 repair cost would be covered by the extended warranty vehicle plan.
Transferring Your Extended Warranty Gives the New Owner “Peace of Mind”
If the existing extended warranty on a car is transferable to the next owner, so is the peace of mind that comes with the protection plan. Given the opportunity to choose between two identical used cars, the automobile with breakdown protection has more perceived value.
The moral of the story: be sure to let prospective buyers know the good news that your auto repair warranty can be transferred into their name!
About the author: The Warranty Watchman, a.k.a. David Olthoff, has specialized in auto extended warranties for the past 21 years.