Resolved Question: Does BMW finacial require you to have auto theft protection?

27 December 2011, 9:50 pm

So, I recently bought a 2007 Honda Civic EX from BMW of Fremont in CA. While taking a closer look at the paper work, I noticed that they tacked on an extra 102 dollars a month for this auto protection program. Adding an extra 6000 dollars onto my loan. The protection program covers the vehicle if it gets stolen and cannot be recovered. If that happens they would cut me a 2500 dollar check, but isn't that why we have auto insurance? Can I cancel this stupid protection guarantee, get reimbursed for what I've already paid and have a cheaper monthly payment? BMW finacial loaned me $10,999.51 Apr at 8.9% Finance charge $2697.29 Total amount paid for the car after the contract of 59 months is over, $13,696.80 I was a first time buyer if that helps.... Read More »

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