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Problem solved, we went back and forth today, the deal stands as originally agreed upon. I will be given the option to buy the warranty if I so wish. For all those that suggested I should have had it in writing with a deposit, I tried, that’s not how they do business. All the corvettes sold have been this way. I am glad I kept the name of the dealership private and kept my cool. Thank you all for the great responses! This is indeed a great community!! Looking forward to many years of ownership of the car when it finally arrives!!
After Op gets his car, should give up dealers name so other buyers are aware of the tactics.
We already know the tactics for this case. And, in the end, according to the OP, this dealer honored a verbal agreement and no deposit to sell at MSRP. In the grand scheme of things, this was not one of the worst dealer experiences. My dealer "tactics" including insisting the they did not sell the extended bumper to bumper warranty that I wanted to purchase, trying to steer me to another warranty they wanted to sell. Eventually they "found out" that they sold that warranty, and blamed it on the fact that the F&I guy was "new" (I did not finance there). Not defending the OPs dealer - but they all have, and use, various tactics to extract more money - being aware of the tactics is important. And the more egregious instances - should be called out (if the forum allows that?).
Buy the extended warranty and then as soon as you get the car cancell it and you will get most if not all your money back. I have had extended warranties that I cancelled after a year and got 90% of my money back.
Buy the extended warranty and then as soon as you get the car cancell it and you will get most if not all your money back. I have had extended warranties that I cancelled after a year and got 90% of my money back.
im just curious as most people just add it into their loan. If you get the money back you still pay interest on the amount and you pay the higher payment for the total life of the loan. Why not just decline?
im just curious as most people just add it into their loan. If you get the money back you still pay interest on the amount and you pay the higher payment for the total life of the loan. Why not just decline?
I was refering to a situation where a dealer was trying to force you into the warranty to take delivery of a vehicle and if there was no other recourse but losing it.
I normally dont have a loan or if I did then i would make an extra payment with the money refunded from the extended warranty. In my situation that I quoted, I determined after having the car a year that I would sell it long before the extended warranty would go into effect.
im just curious as most people just add it into their loan. If you get the money back you still pay interest on the amount and you pay the higher payment for the total life of the loan. Why not just decline?
Because the dealer won’t sell the car unless you buy the warranty.
That is illegal. Period. I work for a car dealership and have for 11 years.
True. I too work at a dealership however what kills me a customer will buy a cell phone and put a protection plan on a $800 item but will resist protecting a $80K complex automobile. I actually think the GM plan that changes the Bumper to Bumper to 60 month 60,000 is a great option and do to the fact its not cancelable adds significant value to the resale or trade in the future if done within the term. Our service dept loves them as there is no confusion as to what is covered. In conclusion it is absolutely up to the customer and should not be coerced.
im just curious as most people just add it into their loan. If you get the money back you still pay interest on the amount and you pay the higher payment for the total life of the loan. Why not just decline?
If you cancel GMEPP and have a lien on the car, they send the refund to your financial institution. Many process it as a principal-only payment.
If you cancel GMEPP and have a lien on the car, they send the refund to your financial institution. Many process it as a principal-only payment.
I would certainly pay for the warranty separately if in fact you were going to cancel but as long as it went to principal, not much of a loss financially although payment will be a little higher than if you paid outside of financing
Yep. My dealer did the same. I was not ecstatic about that. As for the “document” I didn’t even blink and said sure, I’d sign it because, A. I have no intentions of flipping it, and B. It wouldn’t be worth the paper it was printed on. Extended warranty can be cancelled btw.
this is why there should be a stickie to warn members about these type of dealers
My Dealer did right by me, after realizing how much electronics I s included in the car, the extended warranty actually made sense, declined due to my budget was already maxed out. I have enjoyed the car greatly will almost 1000 miles on it. By far the best car I have ever owned!!! Here is my pride and joy!
04-05-2022, 11:06 PM
