Can You Cancel A Used Car Warranty

The answer to the question was hard to find. But, in short, yes, you can cancel a used car warranty. In fact, you can buy a car “as is” and not pay for warranty. According to  https://www.consumer.ftc.gov,, “If you buy a car "as is," you must pay for all repairs, even if the car breaks down on the way home from the dealership. However, if you buy a dealer-service contract 

within 90 days of buying the used car, state law "implied warranties" may give you additional rights. Some states prohibit "as is" sales on most or all used cars. Other states require the use of specific 

words to disclaim implied warranties. In addition, some states have used car

"lemon laws" under which a consumer can receive a refund or replacement if the vehicle is seriously defective.

 To find out about your state laws, check with your local or state consumer protection office or attorney general.”

You have two choices: pay in full or finance over time. Financing increases the total cost of the car because you’re also paying for the cost of credit, including interest and other loan costs. You also must consider how much you can put down, the monthly payment, the loan term, and the annual percentage rate (APR). Rates usually are higher and loan periods shorter on used cars than on new 

ones.

Dealers and lenders offer a variety of loan terms. Shop around, compare offers, and negotiate the best deal you can. If you're a first-time buyer — or if your credit isn't great — be cautious about special financing offers. They can require a big down payment and a high APR. If you agree to financing that carries a high APR, you may be taking a big risk. If you decide to sell the car before the loan expires, the amount you get from the sale may be far less than the amount you need to pay off the loan. If the car is repossessed or declared a total loss because of an accident, you may have to pay a considerable amount to repay the loan even after the proceeds from the sale of the car or the insurance payment have been deducted. If money is tight, you might consider paying cash for a less expensive car than you first had in mind.”

“Used cars are sold through a variety of outlets: franchised and independent dealers, rental car companies, leasing companies, used car superstores, and online. Ask friends, relatives, and co-workers for recommendations. Contact your local consumer protection agency and state Attorney General to find out if any unresolved complaints are on file about a particular dealer. You also can search online for complaints. Enter the name of the seller and the word “review” or “complaint” into a search engine. Some dealers are attracting customers with "no-haggle prices," "factory certified" used cars, and better warranties. Consider the dealer’s reputation when you evaluate their ads.”

“Dealers are not required by law to give used car buyers a three-day right to cancel. The right to return the car in a few days for a refund exists only if the dealer chooses to offer this privilege. Dealers may describe the right to cancel as a "cooling-off" period, a money-back guarantee, or a "no questions asked" return policy. Before you buy from a dealer, ask about the dealer's return policy, get it in writing, and read it carefully.”