volvodoc

Canceled my esp. How long before you get the refund? thanks to all.

msd5052001

I believe I had mine in a month BUT I only got mine back because I paid for it after financing the truck through another dealer. If it was part of the financing they just pay the leinholder and reduce your overall debt on the truck.

Dacam

Wrong, I financed my ESP and got a check for the prorated refund in about 3-4 weeks.

Wanted33

Took me about six weeks to get my refund.

msd5052001

Um, nope, not wrong... I can assure you that is the way the dealer handled it here because my brother had it applied to his loan. Just because your dealer did something different or accidentally refunded it to you doesn't make it wrong.

okif150

If it was financed into the loan technically the money must be returned to the lender, else it would be considered an unsecured loan subject to different lending laws. Not saying this does not happen, but in the majority of cases the money is returned to the lender and your note will remain the same as far as payments unless you refinance the balance. The loan will however get paid back earlier.

RDFTS

iTrader: (1)

Wife bought a new Nissan this year and financed their esp with it. I went down to the dealer, filled out their form and cancelled it about two weeks later after reviewing the paperwork on it that come in the mail. Got the refund in about 4 weeks but it went back to the bank holding the note and reduced the principal only. I was told this upfront when I cancelled.

Anyone actually read all the fine print on those contracts? I did and hence why I cancelled. I asked the dealer about it and said even though the contract states certain things, that I can be assured their word of mouth on what it covers will be honored. What if the dealership has change of ownership, they might not want to honor that previous word of mouth. Made me want to cancel even more because the contract is what is binding.

13Harleyfan

ESP plans are very specific on what is and isn't covered, the dealership can assume anything above and beyond that and pay for it out of their own pocket. People are so excited buying that new baby that very few read the fine print until they get turned down for an issue that is not covered.

MrMac

Simple facts are this. If you financed the ESP with Ford Motor Credit, the refund will be credited to the loan. If you paid cash or financed with another lender, you will receive a check from Ford MoCo.

LSULariat

Why did you all cancel your esp? I had one on my 2011 and its been totaled and I'm going pick up my 2012 tomorrow morning. I was planning on getting it again? Why shouldn't I? Just wondering.