There’s something comforting about knowing your car is still under factory warranty. A strange noise starts under the hood, a warning light suddenly appears, or the air conditioning decides August would be an excellent time to quit, and at least there’s a chance the repair won’t completely destroy your bank account.
But eventually, that warranty clock runs out. And that raises a question more car owners should probably ask before the expiration date arrives: Should I sell my car while it’s still under warranty?
Not necessarily. A warranty expiration date isn't an automatic eviction notice for your vehicle. Plenty of cars remain reliable for years after factory coverage ends. But the end of the warranty is a very good time to stop, look at what you own, and decide whether you still want to own it when every future repair bill belongs entirely to you.
The Warranty Ends. Your Repair Risk Doesn't.
During the warranty period, certain covered failures may be somebody else's financial problem. Once that coverage disappears, the equation changes.
A failed electronic component, transmission problem, turbocharger issue, air-conditioning repair or complicated engine problem can potentially cost hundreds or thousands of dollars. Today's vehicles also contain an enormous amount of technology, which means a problem doesn't necessarily have to involve the engine to become expensive.
That's why the months leading up to warranty expiration can be a natural decision point. Instead of automatically saying, “I'll just keep it another few years,” ask yourself another question:
If this car needed a $3,000 repair six months from now, would I still be happy I kept it?
If the answer is an immediate NO, it's probably worth finding out what the vehicle is worth today.
KEEP IT OR SELL IT?
KEEP IT MAY MAKE SENSE IF... |
SELLING MAY MAKE SENSE IF... |
|---|---|
You genuinely love the vehicle |
You were already thinking about replacing it |
It has been extremely reliable |
Repairs have already started appearing |
You have little or no payment |
Your payment is still substantial |
You can comfortably handle future repairs |
A major repair would wreck your budget |
You plan to keep it for several more years |
You don't want the risk of post-warranty ownership |
Don't Automatically Buy an Extended Warranty Either
Here's another place owners can get ahead of themselves. The factory warranty is ending, so somebody offers an extended service contract. Suddenly you're considering spending a significant amount of money to protect a car you're not even sure you want to keep.
Before buying additional coverage, find out what the car is worth. You may discover you'd rather put that money toward your next vehicle instead of purchasing protection for one you're already halfway out the door on.
And don't forget that mileage matters too. Waiting another year doesn't simply mean the vehicle becomes one year older. You may add another 10,000, 15,000 or 20,000 miles, additional wear and possibly another round of tires, brakes or maintenance.
Know Your Number Before You Decide
The important part isn't selling your car simply because the warranty is ending. It's knowing your options before making another expensive commitment.
CarBuyerUSA will provide your vehicle value in approximately 20 seconds, giving you a real number to consider before deciding whether to keep driving, purchase additional coverage or sell.
Your car may have plenty of good years left. But if you've already been wondering whether it's time for something different, the approaching end of the warranty might be the perfect moment to make that decision—before the next repair bill makes it for you, CarBuyerUSA.com is the first step to take!
