Dealer sold me a maintenance package?

[Boxtyp3]

Long story short, I took delivery of a 2021 JLUR. During the process of signing, the finance manager told me that it doesnt come with a free maintenance. So I thought, I would purchase a maintenance package and he sild me one. Fast forwad to today, I recieved an email fron JeepWave that my purchase came with 3 free oil changes and tire rotation. Question now is, is it too late to refund or take the package that I purchased out of the loan agreement since I haven’t make any payment from my own pocket atleast yet?0

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[SouthCo]

Your best bet is to call or visit the dealer that sold you the maintenance plan.

My dad bought a new GMC Sierra earlier this year and also bought some kind of maintenance plan. He changed his mind within a week of buying it and was able to get a refund.

 

[LockeUSC]

Long story short, I took delivery of a 2021 JLUR. During the process of signing, the finance manager told me that it doesnt come with a free maintenance. So I thought, I would purchase a maintenance package and he sild me one. Fast forwad to today, I recieved an email fron JeepWave that my purchase came with 3 free oil changes and tire rotation. Question now is, is it too late to refund or take the package that I purchased out of the loan agreement since I haven’t make any payment from my own pocket atleast yet?0

Most packages insurance or warranties can be cancelled the first thirty days no penalty. Beyond that they can be cancelled prorated to useage but may enclude a cancellation fee (ours was 50). If u have ur closing paperwork u can read it in that portion of the service contract

 

[Boxtyp3]

Thanks for the advices fellas!

 

[rockadile]

Thanks for the advices fellas!

Make sure you're persistent in cancelling and get it in writing as I've both heard and experienced cases with the dealership dragging their feet until it's too late to cancel.

 

[swflfireguy]

I had an extremely bad time canceling my maintenance and extended warranties, BUT stay after them, take notes of ALL conversations and get names, dates, etc. It's worth it when you're going after your $$. Do not let them play one against the other- i.e. " the salesman said this...", or " oh, no that was the warranty guy.."

 

[Boxtyp3]

Thanks guys! Def gonna get into this.

 

[Deleted member 53226]

Not sure it was the same one my dealer tried to sell me, but mine was a Zurich plan and they walked me to this other guy's office "to do the paperwork" just so he could give me the hard sell on the warranty. Oddly, he said they didn't offer any Mopar warranty when I asked. He said the Zurich plan was better and covered way more, yada yada. Anyway, he talked fast and did math faster. The whole time I knew I wasn't going to be bamboozled but I wanted to be polite so I let him do his thing.

So long story short, he slides me this form that conveniently put the cost of the "best" Zurich "maintenance plan" (with a $100 deductible) into the monthly cost of my jeep loan. He says it covers paint and all this other nonsense. Wasn't that nice of him! Man, it was like $75 a month extra on top of my 8 year loan payment! Do the math, that's about $7,000 over the course of the loan. So I politely say, no thanks. The guy looks at me like I am a jerk for refusing. Imagine, same Mopar MaxCare warranty is at most $1500 with a decent deductible for 8 years.

I bet that trick of mixing it into the monthly payment works on about 40% of the people. That's a lot of money being made. Its a scam.

 

[GtX]

8 YEAR loan... WTF?

 

[WranglerMan]

I did not think you could even do a 8 year loan.....

 

[Deleted member 53226]

8 YEAR loan... WTF?

Hell yes brother. At 2.1 % through my bank, I'll take that deal every time. For me, it comes to about $3K in interest over the total life of the loan. So at about $400 a year in interest, either pay it off in 5 years, or not. Who cares.

 

[GtX]

Hell yes brother. At 2.1 % through my bank, I'll take that deal every time. For me, it comes to about $3K in interest over the total life of the loan. So at about $400 a year in interest, either pay it off in 5 years, or not. Who cares.

The bank thanks you.

 

[Edge Hawk]

The bank thanks you.

Leave him be, for his situation it might work. having a low required monthly payment could be good but then he could have bonuses or makes more during the year and can pay extra. Or he could get a higher return than 2% on that extra money he'd normally be putting into a payment.

With my 2014 Jeep being worth over 20K or more than 50% of what I paid for it, the risk of being upside down on the loan is low.

 

[Deleted member 53226]

The bank thanks you.

Damn right the bank thanks me. That's how it works. We are all benefiting from artificially low rates. The bill will come due for America sometime soon in the future, and it won't be pretty, but for now average folks can take advantage of low rates. You now have the luxury of stretching out your loan because the additional costs are minimal at best. At 2%, why sweat it it each month on a four year loan? No point other than saving a few hundred dollars more in interest.

I love how in this upside down world of artificially low interest rates, Americans have become so spoiled to think a bank charging around 2% interest on a loan is somehow bamboozling people. Remember not so long ago when the standard rates on a new car were 5 or 6%, for at best 36 months, and used car loans were even higher. Home loans used to be a bargain at 6%. Now, unless the loan is 0%, people are incensed at the gall of banks to charge interest at all.

The reality is when you buy the Jeep, the dealer needs to make money to pay salary and overhead. When Jeep builds the truck, it needs to make money for salary and overhead. When you finance the Jeep, the bank needs to make money for salary and overhead. The person that pays all of these costs is the end user, the retail customer. No matter how much time and effort you put into deals, incentives, dealer shopping, buying three states away, invoice versus dealer costs, yada yada yada, theyh all make money off us. They have to.

Oh well, if you have cash buried in the backyard and don;t need loans for your house or home, more power to you. Granny dies and left you a ton of money you didn't earn? Welcome to America! Maybe you have a huge gold brick in the basement where you chip a few nuggets off and dump them on the dealer's table when you buy your jeep outright. Outstanding.

For me, I am a working Joe who needs a loan. I get the best deal I can, while I can.

So yes Sir, the bank thanks me for the interest (although they wish it were higher!) and I thank the bank for giving me money it had no obligation to give. That lets me have a vehicle I couldn't outright buy otherwise.

 

[GtX]

A good relationship is when both sides get value out of it and are happy.
Glad your relationship with your bank is a happy one.

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