Regular Contributor
my25reasons
Posts: 177
Registered: ‎12-16-2011
Cancel Power train warranty?

Has anyone ever had to cancel their GM powertrain warranty? I need to cancel mine for a refund (1yr old) so that I can refi and then repurchase a new warranty. As it stands, the warranty puts me over the 100% value of the vehicle. Either that, or transfer the overage to a 0% credit card offer. Not sure which is more beneficial.

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Member
Infil
Posts: 12
Registered: ‎10-11-2012
Re: Cancel Power train warranty?

usually those warranties are written into the contract and built into the loan. I know ford has you locked into it for the term of the warranty period or until you trade/sell it in. I would imagine GMAC has the same type of language.

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Regular Contributor
my25reasons
Posts: 177
Registered: ‎12-16-2011
Re: Cancel Power train warranty?

Thanks. I called the dealership and was able to initiate the cancellation through them. They said it could take up to 30 days to receive the refund. Once I do, I'm going to apply it to my loan balance. I would like to either refi or trade in - and do so SOON.

In my wallet:
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Experian Direct PLUS scores: Experian 744/ Equifax 763/ TU 744