Canceling extended warranty bought from dealer?

[stlgrym3]

I bought a 7 year 80k mile extended warranty through Subaru dealer when I bought my new BRZ last month. Now I decided to start modding extensively, hence will no longer need the extended coverage. Someone mentioned I can just go to the dealer and request a cancellation, they will refund me back the prorated balance. Is this true? Has anyone done it?

[8RZ]

Why don't you just call the stealership and ask? May get a quicker response that way.

[jmark]

I just did it. Call or email the business mgr dealership person who did all the paperwork. Tell them you want to cancel it. They will ask you your current mileage and give you a prorated amount. If you have a loan the refund will go towards the principal of the loan. I got $913 back towards my loan. I have right at 7800 miles and had the car a year.

[stlgrym3]

Originally Posted by jmark

I just did it. Call or email the business mgr dealership person who did all the paperwork. Tell them you want to cancel it. They will ask you your current mileage and give you a prorated amount. If you have a loan the refund will go towards the principal of the loan. I got $913 back towards my loan. I have right at 7800 miles and had the car a year.

Thank you. I’ll give it a try.

[funwheeldrive]

Originally Posted by jmark

I just did it. Call or email the business mgr dealership person who did all the paperwork. Tell them you want to cancel it. They will ask you your current mileage and give you a prorated amount. If you have a loan the refund will go towards the principal of the loan. I got $913 back towards my loan. I have right at 7800 miles and had the car a year.

This was my experience also. Be prepared for them to try and talk you out of the decision.

[stlgrym3]

In my past experience it’d be hard enough to actually get on the phone with business/ finance guys, once the operator knows u not buying a car they will just put u on hold indefinitely or just hang up on u.

[jmark]

I emailed my salesman and he copied the business mgr. who then got back to me.

[Edibrac]

I actually helped my parents cancel the extended warranty on their Outback. All the information you need will be on the extended warranty contract. I believe that there was a limited time that you could cancel it for a credit to the loan. Check for that first and then go through with canceling it.

[Summerwolf]

Originally Posted by stlgrym3

I bought a 7 year 80k mile extended warranty through Subaru dealer when I bought my new BRZ last month. Now I decided to start modding extensively, hence will no longer need the extended coverage. Someone mentioned I can just go to the dealer and request a cancellation, they will refund me back the prorated balance. Is this true? Has anyone done it?

The refund goes directly to the loan balance. You basically call, make an appointment, go in and talk to someone in finance and the pro rated amount goes towards the balance of your loan.

[reeves]

Originally Posted by stlgrym3

In my past experience it’d be hard enough to actually get on the phone with business/ finance guys, once the operator knows u not buying a car they will just put u on hold indefinitely or just hang up on u.

It's hard enough to get them to honor that extended warranty, so cancel it right away. They'll point out any little detail they can to NOT pay for repairs under an extended warranty, fyi. Stupid things like missing or being late for a scheduled maintenance on your vehicle can void that extended warranty as well.. it just depends on what insurance lawyers they got to write up the contract. But rest assured, they write the warranty contract in their favor.. just in case they want to deny you repairs that might be too costly for them.

[stlgrym3]

So far no success getting any responses from my salesperson and their finance department. I’ll pay them a visit this weekend.

[reeves]

Giving up free money will never be high on anyone's priority list, so don't expect an expedited process from them. Just keep trying... and good luck on recovering your money!

[g e]

I did this. Just stopped by the finance managers office while in for service. Easy- peasey.

[stlgrym3]

Called dealer last week and the finance guy said me they need a notarized letter stating the odometer and the cancellation date. I brought the notarized letter to dealer today, the finance guy tried to talk me out of it, telling me what a good deal I got originally and that I can cancel it later after I sell the car even, I told him no, I want to cancel today. He then just told me okay it’s done, check one month later with the finance company. He was giving me attitude when I pushed him for some kind of proof that I did submit the cancellation request today, he just gave me copy of my letter and that was it. I guess he was not thrilled about the cancellation, oh well hope he follows through and process the paperwork.