How to Cancel a Toyota Extended Warrantyby Cecelia Owens
If you regret buying an extended warranty for your Toyota, or feel you were pushed into the purchase by an aggressive salesperson, there are ways to cancel the agreement.
Gather the paperwork that came with your extended warranty. Doing so will allow you to answer the questions that the customer service representative will ask you.
Call the dealership where you purchased the extended warranty and car from. An operator will answer the phone and ask to direct your phone call. Ask to talk with finance manager and make an appointment to visit in person.
Show up to the appointment and tell the Toyota financial manager that you would like to cancel your extended warranty. The manager will tell a Toyota mechanic to check your car for specifics, such as the mileage on the car and if there is any damage on the car.
Speak with the financial manager after the inspection. The amount you get back from the warranty is based on the time and mileage that was used up. Sign the cancellation form, claiming that you have cancelled your warranty. Do not leave the dealership without this paper, because financial managers are can take their time with forwarding the cancellation paperwork to the warranty company and therefore lessen your refund.
Wait for the refund. The refund will go directly to your bank. The total amount you owe toward the car will be reduced by the amount of the refund. File the cancellation paper in a safe spot, so that you can refer back to it, if necessary.
- Osvaldo Hermida; Finance Manager at Claremont Toyota; Claremont, CA