How to cancel finance office add-ons after signing a lease

[Jimmy_Nguyen]

Hello,

I recently signed my first car lease (24 months), and unfortunately, I felt pressured into purchasing “extra” protection during the process. These extras include windshield protection (24 months) and a vehicle service contract (48 months), both of which were added to my monthly lease payment.

I’m now regretting this decision, especially since the vehicle service contract covers 48 months while my lease term is only 24 months. I have a couple of questions regarding canceling these add-ons:

1. Am I able to cancel these add-ons after signing the lease? If so, do I go through the dealership or the add-on provider (Assurant)?
2. If I cancel, will the changes be automatically reflected in my monthly lease payment?

I appreciate your guidance on this matter. Thank you for your time.

[forbs]

You call the dealer first and get the procedure to cancel. Some can’t be cancelled.

Your payments will probably not change but your last payment date will. So if you owe $100/m on 36months and return $200 worth of addons you will make $3400 of payments and enjoy 2 months of no payments.

[cruiserchuck]

Here is some information from the State Dept of Insurance about cancelling add-ons.

Extended warranties & service contracts | Washington state Office of the...

The documents you received should tell you how to cancel the policies.

I would not rely on what the dealer tells you about how to cancel.

[Kctham18]

Mercedes Lease Buyout refund First Class Lease Protection Plan

Contract should have cancellation details. Who’s the policy administrator? I’ve cancelled a few across diff makes and each time it was a pro-rated refund (>60 days after taking delivery). There was one administrator that told me to contact the dealer, and when I said the dealer was non-responsive, they issued the refund to me directly.

This was CA, but it looks like WA has similar protection for consumers. First thing you should do is to check your paperwork and what the cancellation policies say, then go from there. Good luck

[Jimmy_Nguyen]

Thanks for the response, everyone! I was able to get a copy of the service contract through the Assurant Vehicle Care provider. It looks like I can cancel by contacting the selling dealership (Mazda), and they will initiate the cancellation request. I should receive a 100% refund since it’s been within 60 days.

[trism]

Be prepared for the dealer to be evasive or dishonest. Just don’t give up.

[deeeEVVV]

48 months service contract on a 24 months lease i actually the funniest thing i heard in a long time. How do they even sleep at night, make sure to leave review no matter how this turn out.