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  1. #1
    van5000 Guest

    extended car warranty, who gets the money back if cancelled?

    i live in the state of pennsylvania. in june of 2001, i purchased a 97 subaru car. when i signed for the car, they offered me an extended warranty. i purchased the extended warranty for 1195.00 plus tax, so it came to 1266.00. this amount was financed through my bank in with my car loan. so they tacked on the extra 1266.00 to my car loan. my car needs some things fixed now. when i got the car and warranty, the finance guy at the car dealership told me i could get my car fixed where ever i wanted to, that i did not need to bring it back to them to get it fixed. so i took it to my regular mechanic the other day, but the warranty company wouldnt put it though b/c the warranties labor costs and the mechanics labor costs didnt match up. i called the warranty company myself, and they were rude to me and told me to call the dealership. i called the dealership, and they said they would fix it for what the warranty company would pay for it. the problem is, is that i am not happy with the warranty or the company it goes through, and i want to cancel the warranty. the dealership said they could cancel it, but that the 1200 i paid for it would be refunded to the bank and not me. but if they sent the money to the bank, it wouldnt change the amount my car payment is. the only thing that would change is that my car would be paid off 6 months early.....4 years from now. but that doesnt help me get my car fixed now. so my question is...by law is the dealership required to refund the money to the bank, or if i ask for the money refunded to me, do they have to give it to me? obviously i want the money given to me so i can have the money to get my car fixed. any advice? please email [email]nessa@madbbs.com[/email]
    if you have any. thanks
  2. #2
    racer72 is offline Senior Member
    Join Date
    Jan 2001
    Posts
    14,086
    The money belongs to the creditor, not you. Did you actually read the extended warranty agreement? It will state the amount per hour labor that the warranty covers and that the purchaser (you) is responsible for any labor costs over the covered amount. Nobody has done anything wrong.

    Also, we do not email responses. You have the option of receiving notification when some answers your post.
  3. #3
    van5000 Guest
    yes, i did read it over before i signed for it. the warranty also states that if the person who purchases the warranty chooses to cancel the warranty, that the money has to be refunded to the purchaser within 60 days of cancelation. now to me that doesnt sound like its stating the money gets refunded to the creditor. maybe im wrong, but i think its a sham b/c i am either stuck with a company who was sarcastic and rude to me when i called them for help, or im stuck paying more to get the car fixed.

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