Lexus Warranty Cancellation
Lexus Warranty Cancellation Information
Lexus Warranty Cancellation
Your Lexus warranty can be Canceled – Read below about how to cancel your Lexus Warranty Coverage.
Can you cancel your Lexus Warranty?
You can cancel your Lexus warranty at any time for a pro-rated refund through your selling dealer directly. In order to cancel your Lexus warranty you will need to contact your Lexus warranty company in writing, and let them know you would like to cancel your contract so they can send you instructions on how to do so. If you sell your Vehicle, you may be able to transfer your contract to the new owner if desired.
What are the most common reasons to cancel your Lexus warranty and claim a refund?
1.) You purchased a Lexus warranty and the terms and mileage have not expired. (Even if you no longer own the car, you can still qualify for a refund.)
2.) You traded in or sold your vehicle to a dealership or private party. (As long as you didn’t transfer the warranty to someone, you are most likely entitled to a refund.)
3.) Your vehicle was totaled by your insurance company or if it was stolen and not recovered.
4.) You refinanced your Car Loan. (Gap insurance doesn't carry over to the new loan)
How do I cancel my Lexus Warranty?
"How do I cancel my Lexus Warranty?" is always a question that doesn't have an easy answer. Since extended car warranties (service contracts) differ based on the company backing the warranty or the issuer, the methods for canceling vary. We'll provide you with some general steps in order to assist you in canceling your Lexus warranty.
Step No. 1 – Review the warranty paperwork
Pull out the paperwork for your Lexus car warranty and look for the section that outlines cancellation. Once located, follow the instructions carefully.
Step No. 2 – Write a letter
Certain Lexus warranty companies require consumers to request cancellation in writing. If so, there may be a form to fill out. Write that letter, including the form, and keep copies of the cancellation documentation.
Step No. 3 – Give them a phone call
Instead of a letter, a phone call might help initiate the cancellation process. Reach out to the company you have the Lexus warranty with, explain that you wish to cancel, and follow the companies instructions on how to accomplish that task.
Step No. 4 – Follow up
After a few days, you should receive a cancellation confirmation. This may involve an email notification, text message, or letter in the mail. If you are due a refund, you should receive a credit back to your original method of payment within 7-14 business days. Please note that the timeframe can start from the time the company has acknowledged your cancellation request.
Why purchase a Lexus warranty?
If you currently own, lease or finance a vehicle you can take advantage by purchasing a Lexus Warranty Program to help protect you from costly repairs.
Some of the Benefits included with an extended warranty are:
Free Roadside Assistance
Guarantee on covered repairs
30 Day Money Back Gaurantee
Considering canceling and switching providers?
Are you considering canceling your warranty and switching providers?
Switching to Total Auto Protect will save you time and money.
The benefits of switching to Total Auto Protect:
Save Money On Next Repair
Requesting Service is Fast & Easy
Fast & Hassle Free Repair
How much money can I get back if I cancel my Lexus warranty?
People often get carried away and make an impulsive decision of buying a Lexus warranty when buying a new car without taking the financial implications into account. Most companies do offer a 30-day money-back guarantee on cancellation which will entitle you to a full refund.
Canceling after 30 Days would result in the following deductions:
Pro-Rated Refund (calculated by the amount of time you had the warranty)
Cancellation Fee (early termination fee)
Administrative Fee (paperwork, filing, and processing fees)
Any amounts paid to repair facilities (if you had used the warranty and had your vehicle repaired)