What is the name of your state (only U.S. law)? New Jersey
I purchased a used car in on Saturday July 12th, 2008. On Monday, July 14th, I faxed them a request to cancel the GAP Insurance ($750) and Extended Warranty ($2500) for full refunds, citing the following documents:
Gap Insurance: “You have the unconditional right to cancel and terminate this optional addendum for a refund/credit of the unearned portion of the charge for the addendum at any time. If any termination occurs within 30 days of the addendum purchase you will receive a full refund/credit of the addendum cost provided no loss has occurred.”
Warranty: “The Service Contract may be cancelled by YOU at any time. To cancel, YOU must return the Service Contract to YOUR Selling Dealer. If YOU cancel during the first sixty (60) days, a 100 percent refund of the Service Contract Purchase Price will be made, less a $50 administration fee if YOU cancel after the first thirty (30) days.”
It is now the middle of November, over 4 months later, and I am still waiting for the refund to be applied to my balance with the finance company. I don't trust the dealership at all, as they attempted to refund me $3250 (the total amount) rather than $3477.50 (the total plus sales tax) as they should have. The latest information that they gave me is that the initial refund check for $3250 was sent on Friday October 24th, and another check for the remainder of $227.50 was sent on Friday October 31st. I spoke with the financing company yesterday, who still claim to have not received either of these checks. I assume they're telling the truth as they're probably just as eager to have that $3500 as I am.
I call the dealership once a week (typically on Thursday, I plan on calling them this afternoon) for a status update, and their story hasn't changed since the beginning of the month. I'm worried that eventually the dealership is going to turn around and tell me that because it has been 4 months, the warranty is no longer eligible for a refund and the gap insurance can be refunded, but at a prorated amount due to it being in effect for 4 months. I have nothing in writing to prove that what I say is true besides the fax confirmation of my request to cancel both policies. Every time I've spoken to the dealership, they've accepted that I am due a refund, but they took over 3 months to even claim to send out the checks, and they still haven't arrived almost a month later.
My question is, if you were in my position, would you consider these events to be acceptable? If not, how long would you wait before suing for the refund? The interest on that almost $3500 only amounts to around $20 a month, so it's not going to break me, but I obviously can't allow it to slip through the cracks without ever being refunded.
Thanks in advance for your help.What is the name of your state (only U.S. law)?
I purchased a used car in on Saturday July 12th, 2008. On Monday, July 14th, I faxed them a request to cancel the GAP Insurance ($750) and Extended Warranty ($2500) for full refunds, citing the following documents:
Gap Insurance: “You have the unconditional right to cancel and terminate this optional addendum for a refund/credit of the unearned portion of the charge for the addendum at any time. If any termination occurs within 30 days of the addendum purchase you will receive a full refund/credit of the addendum cost provided no loss has occurred.”
Warranty: “The Service Contract may be cancelled by YOU at any time. To cancel, YOU must return the Service Contract to YOUR Selling Dealer. If YOU cancel during the first sixty (60) days, a 100 percent refund of the Service Contract Purchase Price will be made, less a $50 administration fee if YOU cancel after the first thirty (30) days.”
It is now the middle of November, over 4 months later, and I am still waiting for the refund to be applied to my balance with the finance company. I don't trust the dealership at all, as they attempted to refund me $3250 (the total amount) rather than $3477.50 (the total plus sales tax) as they should have. The latest information that they gave me is that the initial refund check for $3250 was sent on Friday October 24th, and another check for the remainder of $227.50 was sent on Friday October 31st. I spoke with the financing company yesterday, who still claim to have not received either of these checks. I assume they're telling the truth as they're probably just as eager to have that $3500 as I am.
I call the dealership once a week (typically on Thursday, I plan on calling them this afternoon) for a status update, and their story hasn't changed since the beginning of the month. I'm worried that eventually the dealership is going to turn around and tell me that because it has been 4 months, the warranty is no longer eligible for a refund and the gap insurance can be refunded, but at a prorated amount due to it being in effect for 4 months. I have nothing in writing to prove that what I say is true besides the fax confirmation of my request to cancel both policies. Every time I've spoken to the dealership, they've accepted that I am due a refund, but they took over 3 months to even claim to send out the checks, and they still haven't arrived almost a month later.
My question is, if you were in my position, would you consider these events to be acceptable? If not, how long would you wait before suing for the refund? The interest on that almost $3500 only amounts to around $20 a month, so it's not going to break me, but I obviously can't allow it to slip through the cracks without ever being refunded.
Thanks in advance for your help.What is the name of your state (only U.S. law)?
