Cancel Warranty and Gap before trade-in? - Jeep Wrangler Forum

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Old 07-21-2013, 09:36 PM   #1
Newb
 
Join Date: Aug 2012
Posts: 11
Cancel Warranty and Gap before trade-in?

Hi,

I know this isn't a technical question - apologies in advance.

When I bought my 2012 Sport, I got gap insurance and was sold a third-party service contract.

From the fine print on both, it appears I can cancel either within 60 days for a full refund (obviously not applicable) or after 60 days for a pro-rated refund (different formulas for both) for no reason.

Why wouldn't I cancel these before trading in my Sport for a Rubi? The combined refund value is several hundred dollars; why wouldn't I try to "reclaim" this?

With all the vehicles I've owned, I've had neither gap insurance nor a service contract, so this is a new area for me.

Any advice appreciated.

Peace!

derlejamem is offline   Quote
Old 07-21-2013, 09:51 PM   #2
Jeeper
 
Join Date: May 2013
Posts: 35
If its transferable, it might make it easier to sell on your own. Trading in, I agree, get a refund. The dealer won't give you much for it when you trade in.

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Old 07-21-2013, 10:28 PM   #3
Newb
 
Join Date: Aug 2012
Posts: 11
Only the service contract is transferrable to another party; the gap insurance is not.

The pro-rated refund formulas for both are spelled out in the contract. I would only hope these would govern the refund valuations either before or at trade-in.

Peace!
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Old 07-22-2013, 08:03 AM   #4
Jeeper
 
Join Date: Mar 2013
Location: South Phoenix
Posts: 298
I've always cancelled mine and used towards down payment. Here in AZ there are a ton of dealers owned by the same group and they can normally cancel for you and apply refund to new purchase. Otherwise expect to wait a few months for refund.

Depending on how much time you have left, I wouldn't expect it to be with transferring to new owner and would personally cancel. It's kind of like a certified pre owned car. It's nice, but I'm not paying a dime more for it.
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