Any hope of canceling a RV service contract?

[floridafam]

My sister and her husband conned my dad into purchasing a travel trailer for them under his name. He’s a 90 year old disabled vet and they took advantage of him. What’s done is done. They have already missed a payment and I’m trying to minimize the financial damage to my dad.

They bought a $3400 service contract and financed that in the loan. Do you think there is any hope of canceling that service contract?

The RV was delivered in September and has been sitting at my dad’s house. Their vehicle doesn’t have the capacity to tow it.

Thanks for listening. All I can do is laugh and try and get my dad out of this mess.

 

[tvguy]

Well, usually a service contract can be canceled on new items up until the factory warranty expires. Have you called the warranty company? You could also advice them of the situation and suggest they may want to cancel the contract and refund the premium or face allegations of elder abuse.

 

[floridafam]

Well, usually a service contract can be canceled on new items up until the factory warranty expires. Have you called the warranty company? You could also advice them of the situation and suggest they may want to cancel the contract and refund the premium or face allegations of elder abuse.

I may try and do that. The RV and all the paperwork is in Michigan and I’m in Florida. I’m trying to do what I can. I’m upset but trying to keep a level head.

 

[kymom99]

I’d get a lawyer

 

[GreatLakes]

I’d get a lawyer

I second this, one that specializes in elder care. If you believe your dad was not mentally capable of consenting to the contract they can work with the lender to handle that. Elder abuse is something that is getting a lot of attention in the financial industry. Since the beginning of the pandemic a lot of different fraud models have seen an increase and elder fraud is no exception.

If your dad is of sound mind and just couldn't say no it will be hard to void but let an attorney make that determination, you might be too close to the situation to do it without bias.

 

[floridafam]

I’d get a lawyer

It’s not really an option. We have a lawyer that handles most stuff for my dad. My sister and her husband live with my dad. He would also likely deny any undo influence on their part. I’m sure the finance company will repossess if they miss an additional payment.

I can see where this is going. They will probably get behind again even if they catch up now. The loan will outlive my dad. They will likely never use the service contract because they will either lose the trailer or we will have to sell if my dad passes away. They talk about it as if it is there trailer. My dad is the only one on the loan.

I even called a dealer close to them and they will give them half of what they paid. Not an option.

 

[RamblingMad]

You can cancel add on warranties. There should be info in the docs. Otherwise, contact the lender for information.

 

[floridafam]

My dad will deny he was influenced until that end of time. He also can’t afford a lawyer.

It’s been a stressor every month so seeing if they made the payment. They missed the one due 12/24 and my dad arranged for them to pay it on 1/24 and I know for a fact they won’t be able to do it.

If thee finance company takes it, they will sell it and my dad will be responsible for the difference. I’m trying to minimize that balance. I don’t see any way they will make every payment for 7 years and live happily ever after. It would take a miracle.

 

[PrincessShmoo]

My sister and her husband conned my dad into purchasing a travel trailer for them under his name. He’s a 90 year old disabled vet and they took advantage of him. What’s done is done. They have already missed a payment and I’m trying to minimize the financial damage to my dad.

They bought a $3400 service contract and financed that in the loan. Do you think there is any hope of canceling that service contract?

The RV was delivered in September and has been sitting at my dad’s house. Their vehicle doesn’t have the capacity to tow it.

Thanks for listening. All I can do is laugh and try and get my dad out of this mess.

We purchased some of the extended warranties when we bought our 5th wheel. So the cost of those was included in the loan we got. After about a year we figured out we didn't really need the warranties and cancelled them. No issues. Just contacted the companies that we had warranties with and cancelled them. Got prorated refunds. No problem. The money went to the loan company, we didn't get it. It lowered the loan payments.

I'd suggest the first step would be to contact the warranty company and see what they say about cancelling procedure.

 

[_19disnA]

I would talk with the lawyer you already have who handles things for your dad. He/she can suggest what options are available. If they live with your dad I would imagine there are more financial issues here to deal with then just the purchase of an RV. There is only so much you can do when it sounds like you are only indirectly involved.

 

[dioxide45]

Cancelling the service contract that was funded with the loan won't help because the monthly loan payments won't change even if the refund of the contract is applied to the loan principal. I guess the refund could help pay a few months of the monthly payments, but once that runs out that is all there is.

 

[mrodgers]

They talk about it as if it is there trailer. My dad is the only one on the loan.

Who is on the loan is who is responsible to pay it. Has nothing to do with who owns the trailer. That's on the title. Who is on the title? If just him, sell it immediately and they have no say in it.

 

[floridafam]

Cancelling the service contract that was funded with the loan won't help because the monthly loan payments won't change even if the refund of the contract is applied to the loan principal. I guess the refund could help pay a few months of the monthly payments, but once that runs out that is all there is.

Oh, I know. I expect it to eventually be taken. This would be to minimize the difference my dad would be responsible for if they take it and sell it.

 

[goofyernmost]

If it's in his name he can sell it and hopefully get enough to pay off at least most of the loan. Who knows, maybe all including the service setup. Then there should be a refund possible for the time frame the service contract is in force.

Many have suggested a lawyer and I agree but selling it may be a way to get him out of severe debt.

 

[floridafam]

My dad is the only one on the loan and title.

I would love to be able to sell it but the thought of anyone going to my dad’s house and having to deal with him and or my sister is a nightmare.

 

[RamblingMad]

If it's in his name he can sell it and hopefully get enough to pay off at least most of the loan. Who knows, maybe all including the service setup. Then there should be a refund possible for the time frame the service contract is in force.

Many have suggested a lawyer and I agree but selling it may be a way to get him out of severe debt.

He can't sell it without title.

 

[floridafam]

It’s a horrible situation.

 

[floridafam]

I mean the loan company holds that title but if we could sell it for close to what he owes, that would be nice. The service contract is transferable to a new owner. I would be willing to pay the difference to get my dad out of this mess.

 

[goofyernmost]

He can't sell it without title.

If the loan is against the trailer or anything else for that matter, the title gets released when the loan is paid off. The target is to get as much for the trailer as possible and then the difference is what is remaining. The buyer might even be able to negotiate with the buyers finance facility to just exchange the name on the service agreement. It is a little complex but I think it is doable. Besides a lawyer there is another avenue or one to use in conjunction. I don't know who provided the financing but they have something to lose here also and I would explain it to them and perhaps they will see the "elder abuse" angle and not want to get directly involved in that can of worms and be helpful in making it all happen. There are many possibilities but the strongest is the elder abuse angle and if you are willing to pay some beyond what it is sold for, it should be a fairly easy thing to fix. Might even be able to be done without costing you anything out of pocket. The courts will not look kindly on taking advantage of a 90 year old man.

 

[RoseGold]

Does your dad have any assets? If he's broke, he may be able to negotiate this better, because suing him won't get them anywhere.