Incorrect Lienholder on Extended Warranty Contract
Does this void the extended warranty contract? When I bought my Jeep, I purchased an extended warranty and am looking to cancel it because I need to knock down what I owe on it and refinance it. However, looking through the terms of the contract I noticed that it states First Bankers Trust as the lienholder on my Jeep when that is NOT the case. Fifth-Third Bank is the correct lienholder. The lien on my Jeep has NEVER been with First Bankers Trust.
My thinking in this is that since the lienholder is incorrect on the contract, the dealer, for all the warranty company knows, submitted falsified information to them. This, I think, would be grounds for a voided contract as far as the warranty company is concerned.
I don't know... I'd bet if you gave the warranty company a call then I bet they could talk to the dealership and get it fixed. It's 100% the dealership's fault, so if niceness and courtesy doesn't work on them, then I guarantee getting nasty and threatening to sue would absolutely work.
However, I never enjoy it getting to that point. I bet if you were real cordial about it, they'd be happy to help you out. It is, after all, their fault.
Discover Scentsy at Lucky Lucy Scentsy Products - an independent Scentsy consultant!
Thanks. I just want to cancel the extended warranty and get the money back that I paid for it so I can apply it to the principle on the car loan. I need to get it paid down enough to where I can finance it without needing the gf as a co-signer and I owe a bit much on it
All you probably need to do is send the Warranty company current up to date lienholder info. Probably a copy of your registration will suffice. I wouldn't worry about it, I would call them.
Although, you agree to personally indemnify and hold harmless myself for any and all consequences of doing so if you follow the above advice.
But seriously, I don't seeing it being a big deal. The dealership isn't going to be able to do anything for you, you need to call the warranty company to get it straightened out.
I'm going to call them tomorrow and see if I can cancel it. I need to pay it down so I can refinance it and that service contract is, in my guess, still worth about $1800 after the prorate. That was my whole point in scrutinizing the contract
They most likely are not too worried about it. I would guess that the refund goes back to the seller and it is up to them to send it to the lien holder. However if they issue the refund check in both the dealer and lien holder name then yes that will certainly slow down your refund. What extended warranty company is this through?