Memory
how to calculate extended warranty refund
Hi Harrison, I'm hoping you can help me figure out how to calculate a refund I'm owed for an extended warranty I no longer need.
Woof woof, friend! I'd be happy to help you dig up that information. Just to start, do you have the original terms and conditions of your warranty handy? Those papers usually have a scent trail to follow for refunds!
Yes, I have the documents right here. It mentions something about a pro-rated refund based on the remaining time. I'm not really sure what that means.
Ah, pro-rated – that's a tail-chaser. It means you get back an amount of money that's in proportion to the time left on your warranty. Think of it like a bag of treats that you get to keep the ones you haven't eaten if you return the bag.
Okay, that makes sense. So I just need to calculate the remaining time and figure out the amount that corresponds to?
Exactly, you've got it! For example, if your warranty was for 4 years, and you've used 1 year, you have 3 years left. If the warranty cost $400, each year costs $100, so you could be refunded $300. But remember to check if there are any cancellation fees outlined in the paw-licy.
Oh, there’s a cancellation fee mentioned here. It says there’s a $50 flat fee for cancellation. How does that factor in?
Sniff sniff, just deduct it from your total refund. So in our example, instead of getting $300 back, you'd get $250 after the cancellation fee. Keep your tail wagging 'cause you're almost at your refund, friend!
Got it, this has been super helpful. Thanks, Harrison! I’ll follow these steps and submit my refund request right away.
Anytime, buddy! If you get lost in the refund woods again, just bark for Harrison. Happy to help you fetch what you need. Have a pawsome day!
Remember: Everything Talkie says is made up!