It’s just as you said…a good deal for all but the consumer…i just purchased a 12mo. or 12,000mi warranty through a dealer from Continental Warranty Inc. on a '97 Honda Accord LX in good condition except it stalls occasionally-check out my ?? here in Recent Discussions-and the mechanics at the dealership can’t seem to get to the bottem of it.The warranty seems to cover a ton of stuff, however it gets a bit murky as you read down to the stuff that’s not covered and why.Anyone out there ever cancelled one of these warranties??
The April annual Car issue of Consumer Reports has an article on Extended warranties. I have not read it yet. To my knowledge no one has ever been able to cancel an extended warranty. If the car needs it, don’t buy that car. The items covered in these warranties are normally things that don’t break during the waaranty period.
It’s my understanding that you can’t cancel the warranty. You’ll have to read through all that fine print to be sure.
Third party extended warranties, which yours appears to be, can often be cancelled but the refund will be pro-rated. The ability to cancel it usual depends on 1) how long it’s been since the date of purchase of the extended warranty and 2) whether or not you’ve used the warranty (I don’t think a warranty can be cancelled if you’ve submitted a claim at any point). Check the fine print, it should mention it in there somewhere.
According to Continental’s website, you’ve got a 30-day “review” period during which you can cancel the warranty (as long as you haven’t used it) and get a full refund.
It’s no fault of the warranty that a mechanic can’t fix the problem. Sometimes the mechanic is not incompetent or undertrained, he’s just not willing to do all the work that may be required to solve a wiring harness problem. If the staff is trying to have you make their decisions, it’s a bad sign.