quick question here... okay i went to the dealership earlier
where i bought my evo ix mr to cancel the protection plans(gap/maintenace&service) i signed up when i bought it couple
weeks ago...

so the finace guy is telling me that it is a HUGE mistake cancelling
it cause evo is a "high performance car" and i need that protection plan
in case my car die or something bad happen...

but i told him that im planning to mod it later on, but he insisted
and told me it doesnt VOID the warranty no matter what i
do... like mess with the ECU or put/add new parts in the car as long as
its not nos or change the turbo..

Is he really telling me the truth or he just dont want me to cancel it
so he could get a comission on that $2823 protection plans.

im kinda **** cause i didnt find out til i review all the paper works that
he added on my mothly payments and it ended up 30 bucks more
than w/o it.
So he's telling me that if i cancel that it will only less the 4 months (56 instead of
60) of the payment instead of lowering my monhtly payment like 30 bucks less...

is he telling the truth or just BSng me

 

BS. I could go into detail, but Im tired. Trust me, its BS that the warranty wouldnt be voided.

 

I used to work at a car dealership, and your suspicions are correct. He doesn't want you to cancel it not only because he'd lose his commission on the plans but also because some dealerships charge the finance manager himself/herself an EXTRA fee for later changes to paperwork... think of it like a mandatory restocking fee.

However, being part of that industry before, I can sympathize with him, and I will say this. While some people in the industry are shady, he's just doing his job and trying to make a paycheck like anyone else. He didn't trick you into buying anything that you didn't have to. While the wording can be confusing at times, everything is always laid out properly in front of you. He didn't put a gun to your head and make you buy anything extra for an outrageous price. It was all stuff you were asked, and you agreed to those things, and you should've asked more questions and done your homework ahead of time. You can cancel it if you want and it's completely your choice, but in all honesty, you shouldn't have gotten it in the first place then.

It's a car dealership, not Nordstroms.

 

spoken like a true salesman.................

 

He's effen with ya....So eff with him right back. Ask him to put it in writing and have it signed by the dealership's manager or owner, yourself and have it notarized. If he won't do that, tell him to take a flying leap.

 

He is telling the truth that you won't get all your money back, only the proation of the time you didn't use. Also, it won't lower your monthly payment at all. Maybe things are different in your state, but I doubt it. If you cancel it, the warranty company will send the money back to the bank that holds your lien and they will apply it to your balance. Your payment is set in stone on your contract, but because a refund has just been applied to it, it will chop a few payments off the back end of your loan.

Extended service contract/Warranty companies treat modifications just like manufacturers do. If you have a big claim, they will send an inspector. If the car is modded, they won't fix it, just like Mitsubishi won't.

 

Hehe... I suppose. I don't know if you meant that as a good or a bad thing.

 

The thing is he didn't really explain how it works - that he supposed to explain
everything from the the positive and the negative. he shoulda expalin that
once i cancel those plans i cannot lower my payments or what's going to happen
in case this happen.

you know it upset me more when he said something that discourage you
buying a with out plans and stuff that he's saying that
car doesn't last long a need that when your car die

 

the good thing on the agreement is if i cancel it w/ in 30 days i get the full
refund and i did that only 2 weeks after i signed up for that.

?? lets say the plan i cancelled is worth $2400 and im paying $500 a month
and he told me they will only chop 4 months of my payment that is the total
of $2000... what will happen to the $400? that he didnt mention
will he pocket that extra or they will send me a check

 

That's the thing, he's not supposed to explain it up front. If you ask, then yes, but if you don't, all he has to do is ask if you want to buy it. (As a side note, the dealership I used to work for instructed finance managers to ask THREE TIMES before dropping the topic completely.) He doesn't have to explain the positive from the negative, his job is to SELL, not to review. No matter what industry you're in, you NEVER try to sell your product by talking about the negatives. Imagine a realtor trying to sell you a house saying, "This house is a bargain, but it's got a terrible view, broken windows and a water heater that only works half the time. However, the carpets are fantastic."

It sucks that you were left with a discouraging experience, but you should've been better educated about what options there are in car purchases. It's all one click away. And once again, I'll admit that there are some slime bags in car dealerships, but not everyone is out to rob you. Him trying to sell you those things is no different than you buying a suit and the guy trying to get it custom-tailored and include a matching shirt and tie on top of it. If he asks and you say yes, then that was all you.

 

I see... but accoding to the paper on top of the plan it says "the seller must identify who is paid and describe purpose" but anyway, im a first time buyer and
hopefully will learn from this mistake. and hopefully will get all the refund back.

Thanks for all the help.

 

Any refunded money goes back to the lienholder. The finance manager's/dealer's commision gets charged back to them if you cancel. In short, if you don't keep the warranty out of the intial 30 days, they don't get paid either/they have to pay their commission back.

Every finance manager on the planet will try to sell extended service contracts to people by describing the bad things that can go wrong with a car, any car. It doesn't matter if its a Lexus or a Kia. They all do it. The ones that don't, don't keep their jobs very long. There are ways of doing it without dissing the brand of car, some poeple are not so subtle.

 

I'd keep the GAP insurance. Unless you're planning on turning it into a track car.

 

I've never heard of gap insurance being a payment.... it's always been a one time fee on the cars I've purchased. it was less then 500 on my evo.

 

I am considering gettign an Evo and adding a Pioneer AVIC Navigation system using the Orbital dual din Mod that relocates the HVAC controls. Could my warranty be voided for something like this? I searched, but I didn't see if anyone else had a similar issue.