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Cancellation of Mazda Extended Warranty
cool_aquarian
Member Posts: 15
Hi All,
I bought a new 2015 Mazda3 sedan 3 days back. Special thanks to the awesome people on this forum.
During the purchase, I was not fully prepared for the meeting with finance manager, and he managed to sell me 9Yr/100K extended warranty(called Mazda Extended Confidence) for $2.2K in that moment after talking about all bad things that could happen to cars. He also offered 5Yr Maintenance package for $1.6K which I refused.
I did some research after coming home, and realized that extended warranty is not worth it, and also it was through some 3rd party called Warrantech, which does not have good reviews.
Its just been 3 days, and now I wish to cancel the Warranty, so I have two questions:
I bought a new 2015 Mazda3 sedan 3 days back. Special thanks to the awesome people on this forum.
During the purchase, I was not fully prepared for the meeting with finance manager, and he managed to sell me 9Yr/100K extended warranty(called Mazda Extended Confidence) for $2.2K in that moment after talking about all bad things that could happen to cars. He also offered 5Yr Maintenance package for $1.6K which I refused.
I did some research after coming home, and realized that extended warranty is not worth it, and also it was through some 3rd party called Warrantech, which does not have good reviews.
Its just been 3 days, and now I wish to cancel the Warranty, so I have two questions:
- What are the usual cancellation terms on Mazda extended warranty, can I get full refund?
- Since I have financed the Car, refund will be given to me or the financing company?
0
Answers
2) The refund will most likely go to the bank, to be applied to your loan balance. The net result is your car will be paid off in fewer months.
You really should head back to the dealership ASAP, and tell them you don't want that warranty. They will most likely try to delay you, saying the paperwork has to process first, etc, etc.. They make a lot of money off extended warranties and will try very hard to keep you from cancelling.. You'll have to insist.
If you go immediately, maybe you can get them to re-write the deal without the warranty and avoid a lot of hassle.
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What about 5 year free maintenance package, is it worth it?
I've heard it can be brought down to $800-$900 after some bargaining.
Apparently, there is a 30 day period to cancel the warranty if not desired.
::happy::
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