An extended warranty is often transferable to the new owner of the vehicle if the vehicle is sold privately. This typically requires a modest fee. An extended warranty can not be transferred to a dealer. Check your contract closely to understand any conditions to or requirements of transfer. Common conditions include timely notification (often within 30 days of title transfer) and payment of transfer fees (about $75).

You can often cancel an extended warranty and be entitled to a pro rata refund of the unused portion of your contract. With some companies, you may also have 30 or 60 days to receive a full refund, should you have no repairs and no longer are interested in coverage. Common contract language governing cancellations may looks like this:

"You may cancel this Service Contract by giving written notice to us stating when, thereafter, the cancellation will be effective. If cancellation is effected by YOU within sixty (60) days of purchase, the refund shall be one hundred percent (100%) of the Service Contract price paid less any claims paid and a cancellation fee not to exceed five percent (5%) of the Service Contract price paid. If you cancel this Service Contract after sixty (60) days of purchase the refund shall be computed at ninety percent (90%) of the pro rata unearned premium, and the refund shall be the lesser amount based on the elapsed vehicle mileage or unexpired time of the Service Contract. If we cancel this Service Contract, one hundred percent (100%) of the unearned pro rata premium will be refunded, and the refund shall be the lesser amount based on the elapsed vehicle mileage or unexpired time of the Service Contract. If the Service Contract has been financed, any refund will be made payable jointly to the finance source and you except, if your vehicle has been repossessed or is a total loss, the refund may be made payable solely to the finance source."

Depending on the extended warranty provider, you may also be able to renew your warranty for continuous one year increments at the then prevailing renewal rates , provided your vehicle meets underwriting guidelines at the time of renewal. Check with your provider on other requirements . Common language governing contract renewals looks like this:

" You may purchase another Service Contract for your vehicle prior to the expiration of this Contract, provided: a. The maximum term of this future Service Contract will be 12 Months/12,000 Miles, b. your vehicle, at the time you request to purchase the future Service Contract, qualifies under OUR then-current underwriting and pricing guidelines, c. you request to purchase the future Service Contract at least fifteen (15) days and one thousand (1,000) miles prior to the expiration of this Service Contract, d. you provide US, along with your request to purchase a future Service Contract, verifiable service records evidencing that you have complied with your responsibilities for service and maintenance, e. you make your vehicle available to us so that it may be inspected prior to the issuance of the future Service Contract, and f. all parts to be covered under the future Service Contract are in proper working condition."