It's a brand new 2014. Had 50 miles on it when I test drove it. My fear after reading the last couple posts is that I'll need to work with the dealer to cancel my ESP. Can I work directly with Ford? Or am I legally allowed to cancel it and they are required to abide with the request? Additionally, how long do I have to cancel it?
You really need to look over you paperwork on the ESP as practically every state might be different, the main section on mine starts at section 12:
12. CANCELLATION AND REFUND
(A) YOUR RIGHT TO CANCEL THIS AGREEMENT AND RECEIVE A REFUND: (1) If the Selling Dealer receives a written cancellation request, including a copy of
Your Application, proof of payment and statement of the odometer reading, on or before the 30th day from the Signature Date and no claims have been filed under this Agreement, the Selling Dealer will cancel this Agreement and refund the purchase price You paid for this Agreement, minus a $75 processing fee for each plan cancelled.
(2) If the Selling Dealer receives a written cancellation request, including a copy of Your Application, proof of payment and statement of the odometer reading, after the 30th day or a claim has been filed at any time during the term of this Agreement from the Signature Date the Selling Dealer will divide the purchase price You paid for the Agreement by the number of miles or months of coverage provided by this Agreement, whichever is greater. The Selling Dealer will multiply this dollar amount by the remaining unused miles or months, whichever is less, and refund this amount (``Pro Rata basis'') to You or Your lender, minus a $75 processing fee for each plan cancelled.
I didn't get mine until almost 10,500 miles. I got PremiumCARE for 84 months / 125k miles with $200 ded and first day rental for $1705 (before the price increase).
I know what you mean about not wanting to go back to the dealership but man up and stand your ground and get it done. I cancelled an ESP on my wife's car and yeah they gave me shit and tried to not get me to cancel with their tactics but I got through it and got it cancelled. Ford's ESP Sales information number is 877-794-6434, they might be able to answer some of your questions.
---------- Post added at 10:59 PM ---------- Previous post was at 10:52 PM ----------
Just read the cancelation section. Within 30 days and in writing, I can cancel the contract, minus a $75 fee. So my next question, can I physically hand them the letter and wait on-site for the check? Or do I send the letter via certified mail and wait? I am going to refinance my loan in early December. I suppose if I do get a check made out to myself and the bank after the refi, they, the bank, can endorse it and I can just deposit it.
You are going to wait for the check, 8-12 weeks because they are in no hurry. When we did my wife's car for the ESP it was financed in the deal. They would not give me a check even if I waited for it in the mail. The refund goes directly to the bank that had the loan and reduced my principal but not my payments. On hers I did not get an ESP but if I did after that, then it would be out of my pocket. Yours might be different but since the finance company fronted the money for the ESP, they will want it back so that is why it typically will always just go back to them but again your situation might be different. But think about it, If I cancel my ESP and only I get the check and considering my wife's loan was 2.19%, that would be like getting a cash signature loan for the cheap. That ain't gonna happen.
