Dealer says lending bank won't give me loan to finance unless I get extended warranty for $2000 on 07 bmw 328xi.. Is that legal?

Asked by Jul 23, 2014 at 11:44 PM about the 2007 BMW 3 Series 328xi

Question type: Shopping & Pricing

Please a response would be greatly appreciated. I'm very interested in the car but idk if
an extra 2k for extended warranty is worth it. Specially since dealer says only way I'll get
loan is by getting warranty.

6 Answers

100,545

That doesn't sound right to me, all of the used car I've brought they have offered extended warranty but never have they required it, I'd would start to back off from it and see what happens, it sounds fishy to me.

35,405

Probably not. What state do you live in? That sounds like a state issue. Call up your state attorney's office ans ask. Sounds fishy to me.

35,405

Most of those warranties aren't worth it. The only good one's are from the manufacturer. Not "JOE'S STORM DOOR AND EXTENDED WARRANTY COMPANY" Dealers sometimes make more money on the "Back End" Then they do on the car.

254,665

Not worth the warranty, I agree with everyone else, tell the dealer you don't want it. If they insist you must, go to a local credit union to secure the loan yourself.

Thanks for all the input. I will tell him no or I'll walk

35,405

Give them an out. Tell them to try a different bank.

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