Is it possible to get reimbursed in new car extended warranty program?

Question

I just bought a new Ford Escape and I was offered a 7 years extended warranty for $1600. The salesperson told me that I can get ALL my money back if I will not put more than 70.000 miles in my car in 7 years. Is this program real or is there a catch?

Answer 1

Fidelity Warranty Services, (Jim Moran & Assoc.) does offer a Gauranteed Purchase Refund Warranty (GPR)
The only 'catch' is that you will pay a filing fee, I believe it is $150.00, to get your refund
Read your warranty contract. Does it say "GPR" ?
Please note, in order to get this refund, you have to wait until the end of the term. That means mileage AND term. At the end of the term, if you have never made a claim on the warranty (not even for a loaner car, roadside assistance, or ANY repair whatsoever)....you can get your money back.....less the filing fee.
If you cancel the warranty prior to the end of the term, you are reimbursed a 'pro-rated' amount (provided that there is not a lein or loan ) If there is a balance on the loan, that refund goes towards the balance first.

If you purchased an extended warranty, you were given a copy of that contract.....
You should actually READ the warranty contract.

Answer 2

Depending on the extended service contract you purchased, this can be real. However, there is always a catch as you can not use the contract for anything (rental, tow, etc) after the factory warranty expires and you have to wait until the contract expires (within x months and x,000 miles of it expiring, usally 3 and 3) before you can get your 'refund'. The final catch is that the refund is usually only good on the purchase of another contract at the same dealership (on a new vehicle). So it's only a reality if you are in the habit of trading your vehicles on a regular basis. Yes, they hope you will forget this or use it.

So is it on your contract? Well, the best way to find out if the dealership is being honest is to ask them to show you this 'money back' clause in your contract and explain it to you again. If they'll take the time to do that and it is understandable to you, then you can decide if it has value to you.

BTW: If this is a Ford ESP it should cover a lot more than just your 'radio' for additional mileage. The powertrain warranty only covers 29 components and the other levels cover 84, 113, or 500+ components so they can be well worth it.

Answer 3

you've had numerous solutions saying about a similar component. i wager my question is why do you want to cancel the service settlement? somebody else suggested that the $1500 might want to come off the deepest loan quantity on the suitable. it truly is actual perfect. you received't receive this earnings hand and your fee received't replace. also, I consider those that suggested that an o.e.m assure must be canceled even as a producer's plan is something to keep. inspite of the indisputable fact that, not all aftermarket plans are undesirable. CNA nationwide is a very strong plan that mimics a producer's in reliability and acceptability. besides being careful of an o.e.m plan, the point of insurance is something to consider. maximum plans furnish degrees of insurance from skill practice to an exclusionary plan which will really exclude placed on and tear and upkeep products. i might want to signify the exclusionary plan because it would want to be a similar as being lower than the manufacturing unit restricted bumper to bumper. extra, $1500 for a 7yr/one hundred,000 mile plan isn't a foul fee even on a Toyota. Toyotas are literally not infallible, and there are a approach of electric powered products and pcs that could bypass down that are extreme priced to fix not merely because of the fee of factors yet at $75-80 5 in step with hour a keep prices to do the restore. many cases, because of the time in touch to fix automobiles at the moment, you eventually end up with a great restore bill. ask your self what's way less stressful, arising with an $800 restore plus your vehicle fee, insurance and different charges or the $25 massive difference in step with month and a small deductable with the relax of a apartment vehicle, roadside assistance and holiday interruption. in case you nevertheless imagine you want to cancel the guaranty, the organization manager has no decision. you may whinge to Toyota's customer affairs and they are going to call this guy. Their telephone huge form will be on your proprietor's manuel. strong success inspite of you come to a decision!

Answer 4

Big Catch your Regular PowerTrain Warranty is 5 years 60,000 miles... You just bought a Policy that will only cover the radio and some electrical components That will most likely last 70K miles easy... And your policy on cost the dealer 925.00

Go back to the Finance Officer that did your deal and request a refund.... If he will not help speak with the New Car Salesmanger and express your Feelings.. If that doesn't work call the BBB and then Read your contract and file the need paper work yourself and get a refund... You'll only get 925.00 back most likely....

Read your policy also Is it a real Ford Policy? Or an aftermarket one??? If you can get a 10 year 100,000 mile policy buy that for 1600.00 and it might be worth it...

THERE IS NOT REFUND AT THE END OF 70000 miles, SCAM.
They hope you'll forget...

Good Luck...ZZZZZZZZZOOOOOOOOOMMMMMMMMM

Answer 5

You can get all your money back if you cancell it within 30 or it is prorated. The ew that I had on my Honda, stated in it if I did not use the warranty I would get all the money back after the required amount of time or mileage. If you go on line I am sure you get get a cheaper warranty but be careful which one-no third party ones