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zolea193

Refund of Warranty

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Texas

I purchased a car from a dealer ship and was supposed to pay a down payment of $1000.00. I was not able to pay this amount which I told them I would not be able to pay until after my tax refund. I then prepared my 2010 Taxes and discovered that my Ex husband had used my son as a deductible so I would not be getting a refund. I also let them know this as soon as I knew. I had an accident in the vehicle 3 weeks after purchasing it and it was totaled. When the Warranty Company reimbursed the dealer ship for the Warranty the full amount of $2200.00 they only forwarded $1200.00 to my lender and kept $1000.00. Can they legally do this?

Thanks,

Zolea193

AG8ECH

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zolea193 said...

When the Warranty Company reimbursed the dealer ship for the Warranty the full amount of $2200.00 they only forwarded $1200.00 to my lender and kept $1000.00. Can they legally do this?

Are you certain it was a "warranty?" The reason I ask is that most warranties don't cover collision damage. Are you sure it wasn't some sort of insurance? Additionally, what was the (loan) financed amount?

If it was insurance, then it's not surprising that they paid the lender the amount outstanding on the loan. That's typically a requirement of most financing agreements, that vehicle insurance be carried such that the lender gets paid what they're owed in the event of destruction of the collateral.

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