Upside Down Mortgage

Subprime Finance Companies

Question: Can an auto finance company deny you if you refuse an extended warranty?

I am attempting to purchase a 2003 vehicle from a dealer. They had to use a subprime bank to get me financing. After I told them I had no interest in an expensive extended warranty , they informed me the bank mandates it. Can this be true? Please help before I make a $2,000 mistake! Thank You

Answer: No.

You are not required to get an extended warrenty. However, you maybe required to get full coverage on the vehicle from your loan company. Have you though about using a credit union and CUDL ing the loan over to the credit union. They have lower interest rates and you will have your own financing so you will not have to worry it. It puts you in a better position to bargain. Also if they are trying to get you to buy something in a false mannor i.e. extended warrenty not really needed I would not do business with them! I think you should read this site below it helped me.

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