Nuvell Finances / New Syrmna Chevy Dealer / Forced to take out extended warranty and gap insurance to obtain financing!
My husband and I brought a 2005 Chevy Silverado at New Syrmna Chevy Dealer. At the time we purchased the truck we were told by the Finance gentlemen that we needed to take the extended warranty coverage along with the Gap Insurance to obtain financing from Nuvell, He advised that is was being required by Nuvell. Without much knowledge of auto scams we took both. The extended warranty cost 1400 and the gap cost 540. We recently refinanced the truck and purchased a new 2008 Ford Escape and was told by the dealer to cancel the gap insurance. At that time we told him what happened when we purchased the truck and he advised us that it is against the law to tell a customer that. After, leaving that dealer i went online and read exactly what he said i also looked at my paperwork and behold it states Not required to purchase to obtain financing. At the time we purchased the truck we had MBI through Gieco Insurance full coverage bumper to bumper for only 6.00 per month. Exact same coverage, but the finance gentlemen did not want hear about that advising us it was no good. Well we wrote to the car dealer certified mail to cancel both policies, We received a letter from them asking us to call. We called spoke to a young lady who advised that we needed to send her proof that the loan was paid off. We if the policies by law are not required to obtain financing why do i have to show proof loan was paid off. I have the right to cancel both policies wouldn't one think. Isn't that the same as telling the customer they have to purchase those policies??? Does anyone have any knowledge of this