Not all plans offer the ability to transfer an extended warranty, but is this really a useful feature?
Plans that can be transferred offer several benefits:
Buying extended protection that is transferable is a good idea. Many companies put it in as a feature, even though they know not many people actually take advantage of it. People tend to lose track of their coverage, perhaps loose their paper work, or are just too busy to bother with it. After all, how many people remember where they kept a copy of their warranty three years later? How long was it? Was it transferable?
If they think about selling it, are they going to dig through their shoebox for it?
Let’s say you’re looking at a TV and opt for the five year coverage and note the warranty is transferable. Four years later, you decide to upgrade and sell the used TV. Having warranty coverage still on the TV will help you sell it for more money and faster.
Anoether good example is cell phone protection, we move through cell phones quickly, sometimes cycling them within two years…why not sell it with warranty coverage? Not only will a warranty help you protect the item and keep you out of trouble against heavy repair bills, it creates real value for the buyer when you are done with it.
But before you jump at the warranty that provides this feature, be sure to check the fine print by asking for the Terms and Conditions. In many cases, the transfer may include a fee, usually around $25 and may negate the benefits. Because Warranty Life offers an online service, we reduce our service costs and provide a transfer for free. Users can also track their purchase online so when they go to sell it, all the information is there including the warranty coverage.
Having the ability to transfer a warranty at no cost, creates real value and can pay for itself during resale.