Extended Car Warranty

[junder]

Afternoon all,

I'm after some advice in relation to extended vehicle warranties.

November last year I bought a used vehicle, the part exchange and some extra covered the cost of the vehicle so no finance on the car. However I was persuaded to take out 2 year extended warranty. This was setup and is paid for monthly at approximately 25/month through a company call 'My Premium Credit'.

The car was bought from Available Car and according to their documentation the warranty is provided by 'The Warranty Group' however the finance agreement is to Available Car.

I'm looking at if it's possible to cancel this warranty, I've never made a claim on it. Everywhere online I've been reading about warranties says you're entitled to cancel and if it were you'd paid up front you can get a pro-rata refund. I think this was mentioned on the ABI website.

The Available car leaflet states the following :

Cancellation & Refunds

Within 14 days:
• If You have not had any repairs under this Agreement, You may cancel this
Agreement within 14 days from the start date. You will be refunded the
Product Price stated in Your Schedule.
• If You have had a repair under this Agreement, You may cancel this
Agreement, however You will not be able to claim any refund.

After 14 days:
• After 14 days You may cancel this Agreement however You will not be
entitled to a refund.

Where do I stand with this? The finance website gives me the option to cancel however states to speak to Available Car first. I'm hoping to cancel with a view to reducing my monthly outgoings.

I'd like to know where I stand before I call them so I know if they're trying to spin me a line.

Thanks,
Jason

[Drumroll]

Sorry to be blunt but have you bothered to read your agreements terms and conditions?


If you had you would likely know the answer.

All that will happen on this thread is people will give you an oppinion, you (op) will go with the one you like and hope you can get the answer you want.


WE DON'T KNOW THE ANSWER. READ THE TERMS AND CONDITIONS

[KungFuPanda]

I'm only guessing here but I think the whole of the premium will have been paid up front by the credit company. If you stop your payments, the credit company will come after you. You won't get any refund from the warranty company outside of 14 days.

[funkyrobot]

Why on earth do people bother with most of these pathetic after market warranties? Generally, they aren't worth the paper they are written on.

I've only ever heard good things about one or two of these companies.

As mentioned above, the terms should give you the info they need, so make sure you read them.

[Joeguard1990]

You've answered your own question:

After 14 days:
• After 14 days You may cancel this Agreement however You will not be
entitled to a refund.

So yes you can cancel however you won't get any refunds.

I would also assume that as this is going through a credit company you would need to pay the remainder off anyway as they would have paid up front and you're paying back monthly, but only can find out the answer to that one not us.