Getting ready to sell your car? Those worn out wheels may contain hidden treasure. Hank Phillippi Ryan, Investigative Reporter Do you think most people realize that they have this little extra money with their car? Lou Tedeschi, MA Independent Car DealersMost people don't read the fine print and they really need to. It's not under the hood, it's not in the trunk, but it may be in the glove compartment. If you bought an extended warranty, that could bring you some extra bucks. Learn from Keith Coco. Keith Coco, warranty holderI paid for an extended warranty for 7 years or 70 thousand miles. 70,000 miles? But Keith dumped his truck with only 50,000 miles, so he did the math and he was due 20,000 miles of coverage! And look: though his warranty contract was pages of fine print — right here on page 4 are the words he needed: if he cancels, a refund will be made. Keith Coco, warranty holderI really felt great about that. So what's in your wallet? Or file cabinet? Car dealers say they bet many sellers have no idea they can cash in. Hank Phillippi Ryan, Investigative ReporterSo this is just money in people's pockets they don't know they have? Lou Tedeschi, MA Independent Car DealersOh absolutely. And there's more, if whoever buys your car also wants the unused warranty, you may be able to sell it to them. If your warranty's fine print says "transferable" that warranty could make your car more valuable. Lou Tedeschi, MA Independent Car DealersLet's say you had two cars that were exactly the same and one had a warranty and one didn't have a warranty. If a person knows they're going to have coverage if something goes wrong, it's absolutely going to be worth more money.
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