The dealer flat out lied to you about the extended warranty. I would cancel this immediately if possible.
Yes, warranties can be canceled. You can call up the finance manager or even the manager of the dealership and explain the situation.
Explain that you know it was a flat out lie about getting the approval only with a warranty and that you want a refund immediately. A well worded yelp review goes a long ways.
Otherwise, 1-800-Subaru-3 is very helpful monday-friday.
So, I just came back from a dealer and I got APPROVED!!!!!!!! my Transunion score used was at 71x and approved for 4.65% APR.
Price of the car was negotiated down to $27000 (well below invoice) but I got stuck with extended warranty for $2200 on the top...
The Finance manager told me that I MUST get this warranty for the bank to approve the back end of the deal? And this is non-negotiable.
How much truth is there? Can I still call Subaru after I take deliver (next week) and cancel this warranty I do not want?
You do not have to get the warranty. There was no truth in that. Please don't sign the documents when you're not sure. Even if you do want the extended warranty, they have about a 100% mark up so please know that its price is very negotiable and there is plenty of cushion. Even your interest rate is negotiable. If you haven't signed the finance contract, please put in an application at a few credit unions. You're score is 700+, if this is FICO you shouldn't have trouble getting less than 3%. And credit unions wont lie to you and force you to get warranty
Yes it was 27k for premium. Which I think the price was pretty good considering.
However I am hearing that you can cancel the extended warranty directly from Manufacturer even after I take delivery of the car. Is this true?
If so, I would say that I got a sweet deal for a premium!
And also thanks to everyone here for advices and support! I should be more excited but I feel so ripped off about the warranty.
Be excited! You got approved for an auto loan at a decent rate, so congrats for that. Yeah you got swindled about the warranty, but you know it will never happen again cause now you know. Just cancel if you really don't want it.
Also, be sure to write a stern review on the dealership. I'm not referring to yelp. Most big dealerships send out surveys after you've purchased a vehicle about you're buying experience. The salesman and the finance manager need a certain amount of positive surveys for their commission. Let the finance manager have the truth!
Subaru for sure has a review that you send out. The salesman loses $100 on the deal if you give anything other than perfect.
I was referrring to yelp though, because the dealer will do anything to change it to a positive review. The written review for subaru won't help fix the problem.
I have had good luck calling 1-800-subaru-3 with any problems. They will call the dealer on your behalf and get it resolved. Do it on monday, do not wait until you take delivery.
What if they start giving me problems about taking the car home on thursday because I am canceling the warrantt...?
Subaru-3 will make sure that doesn't happen