I just got a 2021 Corolla the other day and after 5 hrs of waiting for everything to get finalized and signed the papers I only know realized they added a Gap Contract of $1200 and a TFS Platinum warranty of $,3785 without my permission or knowledge, and never included paperwork for any of this with my contract papers. I’m going to discuss this with them tomorrow but can I get feedback on this warranty if it’s even worth keeping? I don’t even know how long this warranty is for since there’s no paperwork.

I’ve been told both can be canceled since they were optional.

My dad works in a body shop btw and gets good deals at the mechanic shop there if the cats need fixing.

This seems real shady and underhanded doing this without telling me upfront. If I wasn’t so tired and hungry from waiting that long I might have given the paperwork a better look at.

  • coydog33@alien.topBEnglish
    1·
    10 months ago

    Ok u/MichaelVonEerie listen to me. Go back and cancel both warranties immediately. They will give you paperwork to fill out. You will want to visibly watch them submit the cancellation in their system. Don’t yell. Don’t raise your voice. Just calmly tell them to cancel both warranties.
    Tell them that if they don’t do this, you will contact your states attorney general and file a complaint. At the worst case scenario, the warranties will be refunded to your loan and not you personally. MAKE SURE YOU GET CANCELLATION PAPERWORK BACK FROM THE DEALER VERIFYING IT WAS CANCELLED.

    Federal law allows you three days to cancel a contract. I’m guessing your outside of this window? You can also google your states car sale cancellation laws. It may be more.

    I’m guessing, and likely correctly, that they also hit you with a higher interest rate than what you actually qualified for. In no more than six months, refinance your loan. This will hit that fuckers commission and you’ll get a lower payment. Win-win!

    Now, did you trade in a vehicle, and if so, we’re you upside down on its value? Meaning did you owe more than the trade value and if so, how much? GAP insurance protects you from having to pay the difference between the loan amount and car value should your car get totaled. As an example, if you owe $20k on a loan and your car insurance gives you $14k to cover your car for a total loss, GAP makes up the difference. That being said, $1,500 for GAP is an absolute theft. $3-500 at MOST for a $16,000 car. You can likely call your insurance company and purchase it from them.