my dealer talked me into getting an extended warranty 24 months or up 100,000 miles coverage for $5,400
and told me that if I did not have to use it, I will get a full refund after 24months, has anyone else heard or have this warranty ? thanks much

 

What if you make a claim for 500$, do you then get nothing back. It sounds like a couple of people I know who have $10,000 deductable health insurance. You pay for virtually everything except catastrophic diseases. This waranty is similar, if you don't use it you get a full refund. The $300-700 dollar repair you will likely pay in hopes of getting your $5400 back. If the tranny goes or all four Air shocks go at $1500 each then of curse you will make a claim. I have heard of warranties like this, let me guess, it is not an MB product. Is it indeed bumper to bumper that includes ALL components of the air suspension? I'll bet your car has less than 50K miles.

 

thank you much for the quick reply

my car has 63,000 and I got it from southbay mercedes benz in torrance, CA

I do have 60 days to cancel

 

Interesting, 63K. Some of the warranties are for low mile cars where part of the hedging is that nothing major will go wrong. If indeed all of the paperwork is CLEAR IN STATING that you get a refund if you don't make a claim then it seems OK, you are essentially buying catastrophic health insurance for the car. What if you sell it, do you get your money then? Is there a deductable? Is it a full bumper to bumper? Keep in mind these answers MUST be clearly spelled out in the contract, not what the salesman says.

I am in no position to advise you to cancel but these questions need to be answered to assure you are really getting what you paid for and not getting robbed. The salesman who sold you this won't be working there when you try to get your full refund and if he were, he is powerless to help you. Gluck.

 

I never heard of a warranty that refunds the purchase price if you don't use it.
I bought a car at south bay too. It was a 07 sl550. They tried to sell me an after market warranty, but since it wasn't dealer backed I told them no thanks. They said the only dealer backed warranty they would sell is on newer lower mileage cars. I had purchased a third party warranty on a 98 sl500 I bought back in 02. The warranty would not honor a single claim. I paid $2500 for it back then and it was a total waste of money, so I am pretty gun shy about third party warranties. If I thought the warranty would actually pay for some maintenance I would have gladly ponied up the five grand when I bought the sl550. I think I am now staring at the ABC maintenance which will prob run 5K I am guessing. But I knew that was the Achilles heel of this model and on therefore on the horizon when I bought the car.
I would like to hear the final chapter of your story. I for the life of me cant imagine a third party warranty giving you a refund if you don't use it. Was this some eccentric billionaire that just likes to help people that buy used Mercedes? How do they make any money otherwise. Maybe I missed something, and I am pretty old, but this is one of the craziest things I have ever heard.
If you still think you are going to get a refund: Please give me a call. I have a nice bridge for sale.