Dealer sold me a maintenance package?

[Chupacabra]

If you cancel and the vehicle is financed, pretty sure the refund will go to the lien holder and not you directly. It'll come off your balance owed at least.

Sponsored

 

[porcusRex]

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.

the 'F and I' guy.. finance and insurance. the guy is way more important than the salesman in a car dealership. his goal is to sell you 'finance and insurance' packages at prices that are usually above what you can get if you shop around. last time i bought a car, they sent me to that guy to finalize the sale. i walk in and say 'so youre the F and I guy' he just laughs, no sales pitch for anything, i write a check for the purchase out of my personal checking account (historically i dont do loans on cars). i suspect he knew it was a waste of time trying to sell me stuff.

as to monthly payments. thats the whole deal these days. car salesman always approach a sale looking for what a potential buyer can shell out each month. if you let them do their auto-pilot sales pitch thats where it starts. also as soon as you say 'thats too much' for the overall cost of a vehicle, they will start pitching you on what can you afford each month. and they love to sell leases which are designed to be sold based on the monthly cost. and lots of buyers dont even consider the total cost, its the monthly cost that they are looking at. thats why loans that used to be 3 years are now sometimes as long as 8 years or more. its all about the monthly.

 

[rockadile]

the 'F and I' guy.. finance and insurance. the guy is way more important than the salesman in a car dealership. his goal is to sell you 'finance and insurance' packages at prices that are usually above what you can get if you shop around. last time i bought a car, they sent me to that guy to finalize the sale. i walk in and say 'so youre the F and I guy' he just laughs, no sales pitch for anything, i write a check for the purchase out of my personal checking account (historically i dont do loans on cars). i suspect he knew it was a waste of time trying to sell me stuff.

as to monthly payments. thats the whole deal these days. car salesman always approach a sale looking for what a potential buyer can shell out each month. if you let them do their auto-pilot sales pitch thats where it starts. also as soon as you say 'thats too much' for the overall cost of a vehicle, they will start pitching you on what can you afford each month. and they love to sell leases which are designed to be sold based on the monthly cost. and lots of buyers dont even consider the total cost, its the monthly cost that they are looking at. thats why loans that used to be 3 years are now sometimes as long as 8 years or more. its all about the monthly.

Anyone shopping for cars who only care about monthly price deserve what they get.

Sponsored