Do I Need to Cancel My Extended Warranty When I Sell My Car?
Did you purchase an extended warranty when you bought your car? Is it time for you to sell your car in the Birmingham area? You may have asked – do I need to cancel my extended warranty when I sell my car – and not gotten the answers you need. We are here to help at The Car Depot!
Yes – when you sell your car, you will need to cancel the extended warranty on your car, truck or SUV. Warranties are non-transferable when you sell your vehicle. In most cases – not all – you should receive a prorated refund from your lender or insurance provider.
How To Cancel Your Extended Warranty
When you decide to sell your used car, truck or SUV and you have an extended warranty, there are a few steps you need to take to cancel that warranty. Here is a quick look at how you can cancel the extended warranty on your car.
1. Find the Original Extended Warranty Documents
To cancel your extended warranty, it can be helpful to have the original paperwork to go with the warranty. In many cases – there is a lot of fine print on your warranty – and that fine print will detail how to cancel your warranty.
2. Write Down the Odometer Reading
When you sell your car at The Car Depot, make a copy of any paperwork that includes the odometer reading to ensure that you have concrete evidence of the mileage on your vehicle with no room for error.
3. Make Copies of Paperwork with the Sales Date
To receive a prorated refund, it is important to have accurate paperwork with the sales date and the mileage. Warranty companies will refund your warranty based on the months that remain on the policy or the mileage – whichever is the lesser of the two.
4. Submit Paperwork to the Warranty Provider
When you have completed the steps above – submit your paperwork to the warranty provider. Ensure that you have signed all the necessary paperwork prior to submission. We recommend that you follow up with the warranty provider if you do not hear back in 14 days.
READ MORE: Can You Sell Your Car Without Buying a New Car?
There are a lot of ins and outs when you sell a car and many drivers want to know – do I have to cancel my extended warranty when I sell my car? We can answer this question and many more right here at The Car Depot. Contact The Car Depot today to find out how you can sell your used car for the best price in Birmingham, AL!