A car dealer told me I qualified for a lower interest rate if I bought an extended warranty for a used car.?

Is this a lie, or do banks really allow lower interest rates when a warranty is purchased? It seems like a sales tactic used to trap you into buying their warranty.

5 Answers

  • Anonymous
    9 years ago
    Favorite Answer

    Call your county / state attorney generals office department of consumer affairs. What this shyster is doing is strictly forbidden under the consumer protection act and the fair lending laws. Report and stay far away from these weasels.

  • sarah
    Lv 4
    5 years ago

    Just tell them you'll just take the 3.7% and you will do the deal in these days. Tell them that 3.7% is what's retaining you from doing the deal. And inform them to move ask their supervisor if the salesperson says no. It's a patrons market, don`t be afraid to come back after pronouncing no. And if the assurance isn't a in condo warranty. Do not purchase third social gathering expanded assurance!!!

  • 9 years ago

    The slightly lower rate will never out weight the price of the warranty so it is a rip off in the end especially if you never use the warranty!

  • Mech
    Lv 6
    9 years ago

    It's a lie. Tell him so. They can make your rate higher just to be pricks. It's not ethical however.

    Are you buying from Ricart in Columbus?

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  • Kevin
    Lv 7
    9 years ago

    Thats BS

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