klee1113

i've had it with honda care. i want to cash out the remaining balance. anyone know the exact process? do i just go to my dealer and say "i want to cash out my HC?"

aslo, i kjnow its a prorated refund... im still under 3 yrs... but im at 57k. thats 21k over the 36 factory warranty, and the HC covers to 75k. so, i SHOULD expect about HALF of what i paid, correct?

Doug1627

if your lucky you will get half, that far in you should just keep the peace of mind, they are gonna get you on cancel charges. possibly finance charges if it wasent payed in full.

klee1113

$25 fee to cancel... what finance charges are u talking about?

Doug1627

Did you finance the cost of the warranty or pay it up front?

klee1113

financed

Doug1627

Honda may be different, but if you cancel a financed warranty with our company they tag on additional charges, something to do with breaking a loan. not exactly sure how it works but I am sure they have a charge for it

klee1113

what company do u work for? i have a chase loan, if that matters.

klee1113

V. CANCELLATION OF CONTRACT
if YOU cancel this CONTRACT:
A. On or before sixty (60) days following the commencement of the CONTRACT period:
1. You may cancel this CONTRACT and receive a full purchase price refund, if no services have been rendered to or on behalf of YOU.
2. If services have already been rendered to or on behalf of YOU, the refund will be the lesser amount calculated as:
- A time pro-ration based upon the time expired; or
- A mileage pro-ration based upon the number of miles driven
B. After sixty (60) days following the commencement of the CONTRACT period, the refund will be the lesser amount calculated as:
1. A time pro-ration based upon the time expired; or
2. A mileage pro-ration based upon the number of miles driven.
ALL CANCELLATION REFUNDS AFTER SIXTY DAYS ARE SUBJECT TO A $25 PROCESSING FEE.
C. For cancellation, return this CONTRACT to YOUR DEALER, and complete a Cancellation Request Form.

The ADMINISTRATOR will issue a refund, if any, to YOU. However, if YOU financed this CONTRACT, the refund may be payable to the LENDER or finance company (if any) that financed the purchase of this CONTRACT, unless YOU provide the ADMINISTRATOR with written verification from the LENDER or finance company that the amount financed has been paid in full. YOU may be required to send a written cancellation notice to the lender under a retail installment contract or loan (if any) YOU entered to finance the purchase of this CONTRACT ("the FINANCE AGREEMENT"). This may not be the same CONTRACT, lease, or purchase plan signed by YOU to purchase or lease YOUR VEHICLE. Payment according to the FINANCE AGREEMENT constitutes payment to YOU, and YOU agree that YOU have no claim against the ADMINISTRATOR, AMERICAN HONDA, or the HONDA DEALER based upon such payment. Please refer to the cancellation section of the rights or benefits under this CONTRACT transfer to the lender.
- If you purchased this CONTRACT in the State of New York a ten percent (10%) penalty per month shall be added to a refund that is not made within thirty (30) days of return of the CONTRACT to the provider.
TRANSFERRED CONTRACTS ARE NOT ELIGIBLE FOR CANCELLATION REFUNDS.
A REFUND SHALL TERMINATE THIS CONTRACT, IF CANCELLED, COVERAGE CANNOT BE REINSTATED.

CMan

I cancelled my HC when I traded my '05 (which I had HC on) for my '06 (and didn't take HC on it).

I just told them I didn't want HC and wanted to get a refund back. They had some form to fill out, which I did and then sent it. I got $1300 - 1500 back (I think).

~C

Doug1627

I work for Service Protection Direct, we broker out Marathon Insurance and MBPI-Mechanical Breakdown Protection INC. Located in Downtown St. Louis. If you didnt finance through The dealer then you should be alright.