Canceling my Loan

[matt1797]

Im in Memphis Tn and I am financing a car through a dealership in Olive Branch Ms and the day after i got it, it started the mess up (locking me out of every gear on numerous occasions and jumping really bad when coming to a stop if not in neutral). I called the dealership and he told me to wait until the warranty kicks in on the car and lie to them to have the warranty company to fix it. Instead of doing that i want to cancel the loan so that if something else breaks in the future it wont be on me. What are my options.

 

[HighwayMan]

Used car?

Is there a waiting period before the warranty becomes effective? Did you know that before you bought it?

 

[Zigner]

Im in Memphis Tn and I am financing a car through a dealership in Olive Branch Ms and the day after i got it, it started the mess up (locking me out of every gear on numerous occasions and jumping really bad when coming to a stop if not in neutral). I called the dealership and he told me to wait until the warranty kicks in on the car and lie to them to have the warranty company to fix it. Instead of doing that i want to cancel the loan so that if something else breaks in the future it wont be on me. What are my options.

You aren't going to be able to cancel the loan. You don't have to lie about the warranty - your warranty was effective the day you bought it. You have to wait for it to show up in their system before you can use it, though.

 

[adjusterjack]

your warranty was effective the day you bought it.

Don't you always say we shouldn't comment on contracts we haven't read?

A quick googling reveals that many non-factory warranties do have as much as a 30 day waiting period so it is important for Matt1797 to carefully and thoroughly read his warranty to make sure one way or the other. Then he can decide what to do.

 

[Zigner]

Don't you always say we shouldn't comment on contracts we haven't read?

A quick googling reveals that many non-factory warranties do have as much as a 30 day waiting period so it is important for Matt1797 to carefully and thoroughly read his warranty to make sure one way or the other. Then he can decide what to do.

You're right - I stand corrected.