Yes you must confirm your cancellation period is not over, and then be sure you have the right to do the cancellation, maybe somebody try to convince you to keep the warranty.
If the warranty was financed then the finance company gets the refund. Follow up to ensure your payment is adjusted.
You may want to keep it if it is a Gen 3 and you are worrying about the engine knock issue. Make sure it covers every part in the drive train. Still you have several years if it is new to get it fixed. Is it new? Anyone know how long the head and engine are warrantied?
1. Yes. You can canx the warranty....if it's a warranty. If so, you probably haven't had your Prius long enough to have blown through your refund window. You'll want to make sure that you didn't get shanked for anything else that you don't need (GAP, service contract, VIP treatment, etc....) 2. Maybe....maybe not. Did you read the loan agreement? They might treat the refunded extended warranty as a prepayment and just apply it to the principle. No offense intended but you shouldn't worry about the monthly payment amount, but rather you should worry about the remaining loan balance. The lower you keep that, the better off you will be in the long run. Get the refund applied to the loan balance and shoot for a quicker payoff - or if you're still into the monthly payment thing just go to a Credit Union and re-fi the loan. Your info says that you have a G3 (2010) IV. Since you live in SoCal, you may or may not know that hybrid components on your car are covered for a longer period of time. Look up CARB warranty coverages. Good Luck!