What is an Extended Car Warranty?
An extended car warranty, also known as a vehicle service contract or vehicle protection plan, is an optional plan that can help you pay for certain repairs to your vehicle while you own it. Extended car warranties are often purchased after the vehicle’s manufacturer’s warranty coverage expires.
Commonly, extended car warranty companies offer several types of plans that cover a variety of your vehicle’s repair parts and labor that offer coverage for a certain amount of mileage and years. Most also offer flexibility in using a dealership, repair shop, or repair facility of your choice.
Can I a get a refund for my unused Extended Car Warranty in New Jersey?
Warranty companies will vary in their refund policy, but there are laws that protect consumers and often inform the refund policy. It’s best to contact the warranty company’s customer service to find out the specific refund policy for your plan. For example, PWI Preferred Warranties, Inc. notes the following cancellation and refund policy:
You may cancel the the policy for a full refund when no claim has been made and you submit the request no later than 20 days from the date of the mailed contract or no later than 10 days from the date of receiving the contract in person during the sale.
Is my Extended Car Warranty valuable in New Jersey?
If you are considering selling your vehicle that currently has active extended car warranty coverage, you can use this as leverage to get more for your vehicle. Most extended car warranties are transferrable, but you will want to read the fine print. For example, PWI Preferred Warranties, Inc. notes the following transfers policy:
You may transfer the contract to someone who busy your covered vehicle if PWI receives a written request to transfer and a $50 transfer fee within 30 days after you sell the vehicle.
At We Buy All Cars in NJ, we pride ourselves in factoring in all value-add features of your vehicle, including extended warranties! Fill out our FREE quote form to receive a value for your vehicle today!