Should I keep my warranty?

[Anonymous]

Hello everyone! I was looking for some advice on a recent car purchase I made. I ended up financing a 2016 Nissan Versa Note about a week ago. I ended up with 72 months and 14.78 apr. A terrible loan but I can afford to pay double payments every month and I put 23% down on the vehicle. I'm also rebuilding my credit so I plan to refinance in 6 months. I was told that I'd have a manufacture warranty and a warranty from the dealership and the dealership warranty was included and was of no additional cost. This sounded odd to me so I asked the salesman several times and he assured me that I wasn't paying additional for the warranty. Low and behold after careful examination of my paperwork I saw that there was a $2000 charge for a warranty. I should have noticed this at the dealership, I know. I emailed the dealer and was told that there actually isn't a manufacture warranty and I did in fact pay $2000 for the warranty. Can I and should I have this warranty removed? I definitely didn't want it when I was at the dealership, but that was because I was told that I already had a manufacture warranty. Now that I know that the manufacture warranty had expired I'm wondering if it's a good idea to keep the warranty I had purchased. Any advice?

[Kree]

Yes, you should be able to cancel the warranty at any time and get a prorated refund.  As the loan is only a week old you should recieve practically all of the money back.

Also, out of curiosity, what was the price you paid warranty included?

(Also even if this note was the very first 2016 sold, it should still have atleast 5 more months of warranty left, potentiall up to 17 months depending on original sale date.)

[Anonymous]

I paid $11,100 so my payments are about $250 a month. 

EDIT It's actually $13,100 and I put $2,500 down. 

[Anonymous]

What i would do is go back to the dealer and sit with them and have them explain it until you're convince they didn't charge you for it. They are sales and will do anything (even lie) to make their numbers/commission.

[Kree]

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@Anonymouswrote:

I paid $11,100 so my payments are about $250 a month. 

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If we take the 2000 out for the additional warranty, that seems like a decent price (depending on miles),  Just wanted to make sure they weren't trying to cheat you twice.

[Anonymous]

Yes, the mileage was 43,000 which seemed like a lot for a 2016. They originally tried to sell it to me for $13,000. 

EDIT Actually I'm wrong it looks like the car was 11,100 WITHOUT the warranty. So really it's a total of 13,100. I will give them a call to have the warranty taken out. I should have read everything more carefully while I was there!

[Anonymous]

Did you check KBB before purchasing?

[Anonymous]

No, I didn't check KBB. I realize now that I should have, although it is withing the "fair market range" according to KBB. At the time of purchase, I checked the prices that other dealerships were selling the same car for.

[Kree]

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@Anonymouswrote:

Yes, the mileage was 43,000 which seemed like a lot for a 2016. They originally tried to sell it to me for $13,000. 

EDIT Actually I'm wrong it looks like the car was 11,100 WITHOUT the warranty. So really it's a total of 13,100. I will give them a call to have the warranty taken out. I should have read everything more carefully while I was there!

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Depending on the exact model, you can get a brand new 2017 nissan versa note for less than 11k.  This seems a bit much, unfortunately there is not much that can be done.

[Anonymous]

Maybe. It's still an improvement on renting a car every day. I live in an area with very little public transportation. So I'm still saving about 350 bucks a month. I may not have gotten the best numbers but it was a valuble experience anyway.