We bought the car about a month ago, and ended financing the warranty. Is there any way to cancel it, and if there is, would they send me a refund or subtract it from the amount financed? Also, how much would they charge me for canceling. Is there usually a flat percentage amount? The warranty ran almost $4000.
2007-02-16 11:16:46 · 5 answers · asked by punchy333 6 in Cars & Transportation ➔ Buying & Selling
First off, the dealership ripped you off. There is no warranty in the world worth that much money. There generally is not a charge to the consumer to cancel a warranty, but all companies have their own set of rules. Your best bet is to call the warranty company and go through the steps of canceling. You will, however, be refunded a pro rated amount. Since you have only had the car a short time, this should mean you get the majority of the money back. The best thing about this, is that the dealership that ripped you off, will actually be charged back. You were unfortunately taken advantage of in the Finance department, and I would not go back to the dealership again. Hope this helps.
2007-02-16 12:01:26 · answer #1 · answered by t.carp 2 · 0⤊ 0⤋
Some companies will let you cancel the warranty before it expires, which can result in a pro-rated refund. You'll first need to call the company to find out the proper procedure. You can find the number on the back or bottom of most warranty forms.
In general, most people I've known who've purchased extended warranties never had a use for them. And the ones that tried were denied compensation for their claims.
2007-02-16 19:39:37 · answer #2 · answered by tonymedinala 2 · 0⤊ 0⤋
I cancelled mine because my car was stolen.
All I had to do is go to the dealership where I purchased the extended warranty and sign a paper.
In MY case, the lien holder got the money instead of me because I financed the cost of the warranty into the payments of the car. But that's neither here nor there.
The point of it is... Yes. You can.
.
2007-02-16 19:48:12 · answer #3 · answered by rob1963man 5 · 0⤊ 0⤋
This is exactly why I tell people to not waste your money on extended warranties..... the chances of you having a problem worth $4k in the time specified is very rare.
Most reputable warranty companies will let you cancel up to a month but it's up to individual company.
2007-02-16 19:26:16 · answer #4 · answered by Anonymous · 0⤊ 0⤋
I think your too late, you have 3 days to break a contract.
2007-02-16 20:41:06 · answer #5 · answered by mister ss 7 · 0⤊ 0⤋