Sonic Boom NH

If you purchased the Ford Extended Warranty you can cancel it at any time and YOU will get the refund, not the bank and not the dealer. It doesn’t matter if you paid out of pocket or financed it in your loan YOU and YOU only will get the refund.

Since it has been 30 days or so you will most likely get it all back or very close to it. I don’t know how many miles and years you purchased for an extended warranty but you can figure your refund as follows:

*** Following example will assume a 5 year, 75,000 mile extended warranty ***

Number of years of extended warranty multiplied by 365 (days in a year)
Example 5 years:

5 * 365 = 1825 days

So you would calculate, for the above example of 5 years as follows:

$1,300 / 1825 days = $0.71 per day

Next figure miles with the following example using 75,000 miles extended warranty:

$1,300 / 75,000 miles = $0.017 per mile

Let’s say you have had your extended warranty for 30 days and have 11,300 miles. Ford will refund you the less of the two as follows:

1825 days – 30 days used = 1795 days unused.
Calculate refund:

1795 days * $0.71 per day = $1,274.45 refund


75,000 miles – 11,300 miles used = 63,700 miles unused
Calculate refund:

63,700 miles * $0.017 per mile = $1,082.90 refund


So, if the above were true you would get back $1,082.90 for a refund minus any charges for early termination but I do not believe there are any charges.

Scooter80

Probably not going to get the full amount for the car due to the high miles, so you may actually be paying out of pocket to get it paid off. Though you can always roll that into a new loan for your new GT.

How did all this happen anyways?

GGIII

My guess, and not trying to insult PT (as I've wrecked a 'Stang before,) is that he did it... If he had -been- hit he would have probably been more forthcoming with the (unfortunately) gory details. Also, he wouldn't be talking about -his- insurance paying things.

randy78045

Dont wanna hijact this thread, but can someone PM me an explain what GAP insurance is????

hammeron

I don't have the time to do a full answer but I'll...just say
I hope you get another stang real soon..and i hope it all
works out for ya

BAMFstang

Randy,
Gap insurance pays the difference between what you owe on a vehicle and what the insurance company is willing to pay out.

You owe 20000

Insurance pays 16000

gap pays the other 4000


It's cheap for the peace of mind.

randy78045

Where ya find this GAP insurance???

Scooter80

That was my thought, and seeing as how a thread was started about radar detectors and laser jammers and what-not, I was very curious to see if speeding had anything to do with it. No, offense meant, just curious.

BLACK06GT4ME

Call your agent. If you feel your getting $crewed get a lawyer. The 6 or 7 tidbits of advice won't mean a thing to your insurance company. Gap insurance is a big plus in your case though.

BAMFstang

Randy,

They usually offer it when you buy the vehicle.

I don't know whether it is something you can buy after the fact, I've never tried that.

If you refinance the vehicle, I'm sure you could get it then.