How do I cancel my extended car warranty?

Question

I have an extended warranty that I am going to cancel for a refund. The company that owns the warranty is not Toyota, but http://www.thewarrantygroup.com/. On the contract it says that I should cancel through the "selling dealer" as they will cancel my request and verify my mileage. I know this will be a pain as the dealer will not let me cancel easily. I'd rather take the next option if possible and provide written notice to the administrator. This option says I can provide written notice if I am unable to return to the selling dealer. It says a copy of my service contract and an odometer reading statement must be included with my cancellation request.

So will it be sufficient if I just write a statement saying I want to cancel and list the current odometer reading on the statement? Or will they want something more? Will this company even let me cancel without going through the dealer directly? Anyone have any experience with this company or cancelling a warranty in general?

Answer 1

It is preferred that you go through the dealership as the refund will most likely go through thier office. If you financed the coverage with the vehicle the dealer will send the refund to the lien holder.  You should be able to go through the warranty company as well, but it may take you explaining that you are having problems with the dealership before they allow you to send them the cancellation request. They may or may not allow you to just write the mileage on the cancellation request. You really need to contact them to verify. IF they require an odometer statement asked if they will accept a 3rd party receipt such as an oil change, repair, or smog check receipt (whichever may apply to you). If you have a good relationship with a repair facility they could open an RO and record the mileage and then close the RO givng you a receipt of mileage to provide to the warranty company. They may also accept a notorized statement from a bank or credit union.

Answer 2

go through the warranty company--talk to them and say you are sending them the info they requested---if you have had any claims then that will come off any refund--the dealer gets a very good commision on selling contracts----you can deal directly with a warranty company for less--been there-done that

Answer 3

Good luck. I assume you know what the cancellation charge will be?

Answer 4

You are asking a lot of questions that you should be talking to the warranty co. about. Or as they say ,if close by, go to the dealer and let them cancel it.

Answer 5

Best of luck, but the dealer will just tell you it's an outside vendor and you should contact them.  Then starts the game to see how long you last before you give up.

Answer 6

It's really easy. You call the warranty company and cancel They may ask you to do it in writing which is totally reasonable. They will prorate your refund. In other words, you won't get all of your money back, but the refund will be proportional to the time remaining on the warranty. They may try to talk you out of it. Just keep saying "Thank you, but I just want to cancel it." Be nice.