Can I cancel my warranty before it fully processes with Toyota Finance?

Seeking Advice
1

Hey everyone,

I posted yesterday about wanting to cancel my warranty because I realized I overpaid. I reached out to the dealership’s finance department, and they initially said they’d send over the cancellation paperwork.

Then, the finance guy called back and said they have to wait for everything to process before canceling it. I bought the vehicle on Saturday, and he said the warranty is still pending. I told him to just not process it at all, but he claimed they can’t do that because it would mess with their accounting since they already factored the warranty into the loan amount.

Shouldn’t they be able to cancel it without processing it first? Or is this just a delay tactic?

2

If it’s a new vehicle, I just went through this myself.

From my experience:

  • Most extended warranties and service contracts allow for a full refund within 30 days.
  • They also told me they had to wait for the paperwork to clear.
  • I followed up once a week until it was done.
  • I financed through Toyota Financial Services, so I kept trying to register an account. Once my loan showed up, I knew the paperwork had cleared, and I immediately called the dealership to cancel the warranty.
3

@Hale
That sounds similar to what the finance guy told me. I also financed through Toyota.

He said everything should clear by Thursday or Friday, so I’ll be calling both days until it’s officially canceled.

4

@Bliss
Yeah, part of it is a delay tactic, but another part is that they just don’t want to redo all the paperwork—it’s a hassle for them.

5

Hale said:
@Bliss
Yeah, part of it is a delay tactic, but another part is that they just don’t want to redo all the paperwork—it’s a hassle for them.

Agreed. What website did you use to register your account?

6

@Bliss
Just searched for Toyota Financial Services. You’ll need the last 8 digits of your VIN and the last 4 of your SSN. If your vehicle doesn’t show up, the paperwork likely hasn’t cleared yet.

7

Hale said:
@Bliss
Just searched for Toyota Financial Services. You’ll need the last 8 digits of your VIN and the last 4 of your SSN. If your vehicle doesn’t show up, the paperwork likely hasn’t cleared yet.

Thanks! I was able to create an account, and all my info is already there. Unless they just processed it in the last few hours, I think the finance guy lied to me.

8

@Bliss
That’s definitely possible. It’s never instant, so if it’s showing up now, they probably processed it sooner than they claimed. Just do what you need to do to get it canceled.

9

Vince said:
@Bliss
That’s definitely possible. It’s never instant, so if it’s showing up now, they probably processed it sooner than they claimed. Just do what you need to do to get it canceled.

I might’ve been too harsh yesterday. I’ll give them time—he said he’d have the cancellation paperwork to me by Thursday or Friday. If I don’t hear back, I’ll follow up.

He also mentioned that once the cancellation is processed, it could take 45-60 days to reflect on the loan.

Otherwise, the guy was pretty easy to work with, and I even left a good review for him and my sales rep.

10

@Bliss
That sounds fair, but I’d still ask for written confirmation once they process the cancellation.

It takes a while for the refund to apply, but you want proof that they’ve submitted the cancellation request.

Also, congrats on your Tacoma!

11

They’re making it difficult in the hopes that you’ll give up. This happens all the time. It’s why it’s best to avoid buying extended warranties at the dealership in the first place.

The finance guy is just trying to protect his commission. Stay on them until it’s canceled.

12

@Daryn
I took the car home on Saturday, and now they’re saying they have to wait for everything to be processed before canceling the warranty. He told me it’ll be done by Thursday or Friday, but I agree—it seems like a stalling tactic.

13

@Bliss
Since you already have the car, they might use that against you to make canceling more difficult.

14

Beck said:
@Bliss
Since you already have the car, they might use that against you to make canceling more difficult.

Yeah, I know I can cancel it—it’s a separate line item. What I don’t understand is why they claim they have to process it first before canceling.

15

@Bliss
It’s because the warranty was already submitted for funding and approval, so they’re waiting for it to be finalized on their end before reversing it. The ‘pending’ status should only last a few days.

Do you have a number you can call directly for the warranty provider, instead of going through the dealer?

16

@Vince
Yeah, it’s through Gulf States Financial. I’m going to give the dealership until Friday like they said, but if I don’t hear back, I’ll go straight to GS Financial and cancel through them.

17

Bliss said:
@Vince
Yeah, it’s through Gulf States Financial. I’m going to give the dealership until Friday like they said, but if I don’t hear back, I’ll go straight to GS Financial and cancel through them.

Good plan. If they keep stalling, go in person if possible. Nothing speeds up a dealership like a customer standing at the finance office waiting for answers.

18

@Vince
Haha, true! Too bad they’re 2.5 hours away. But honestly, if they don’t handle it, I’d be willing to make the drive just to sort this out in person. At least I’d get to take a nice road trip in my Tacoma!

19

Same here. I called financial services for help, but they said they didn’t have accesses into my account, because my documents weren’t cleared. So, I think I just need to wait for my first payment letter, afterwards I can setup financial account and cancel those warranties. Those things are so annoying, I just want to knock them down as soon as it can.

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