hi, yesterday i just purchased a CPO 528xi from the dealer and was convinced to buy the tire and wheel protection plan by the business manager. now that i got it i dont really see a need for it because i plan on puttin aftermarket wheels on them which the plan will not cover (was told by the manager) unless i put on the right bmw wheels for the 5 series.

so my question is how can i go about canceling the plan? will they give me any trouble? thanks in advance.

 

Contracts in most states (USA) have a "cooling off" period ... 3 days if I recall. That permits the consumer to have time to think it over and cancel without penalty. I suggest you call the business/finance manager and tell him you've changed your mind AND follow-up with an email to document your change of heart.

 

That is correct.
You have 3 days!!!!
Put it in writing and get it there fast.
Have the mgr sign your letter and initial the date.

I am not a lawyer but that seems the way to go. Otherwise you need a lawyer.

 

thanks for the help guys. i just hope i wouldnt need a lawyer or anything.

 

In addition to the cooling off period, most of those contracts are structured so that they can be canceled at any time, and the outstanding balance on the premium you've paid will be returned to you. My problem with the wheel/tire coverage plan I saw was that you had limited choice in terms of where and how repairs would be completed.