Tips on Buying Cars: Extended Warrenty, sorry mike, ford dealer

Question
Hi Ray

I just bought a used 2004 Ford Explorer at my local Ford Dealer two weeks ago on April 25th. Love the car but the sales person talked me into the extended warrenty.

I am financing the car for 5 years through a bank and the extended warrenty has been rolled into my monthly payment.

I would like to go back to the dealer and discontinue the extended warrenty but do not know what my chances are since the loan is on the books.

Is there any advice you can offer?

Thanks

Mike H.


Answer
Yes Mike the loan is on the books and the dealer most likely been paid by the bank...
The warranty could be cancelled by the dealer and a new contract could be submitted to the lender for a modest fee but this will never happen as the dealer realize huge profit from selling you a warranty and will simply tell you its to late...
Wish you have read my website about warranty's first
http://usedcartips.bravehost.com/
scroll down to DONT BECOME A VICTIM open that window to understand how dealers sell warranty's
Sorry Mike you have to bite the bullet but am sure you will never get bitten twice
Regards
 Ray