Tips on Buying Cars: Lease Buyout, cancellation terms, cancellation fee

Question
I bought out my lease 2 days ago and started to read the fine print when I got home -- big mistake, I know. At the dealer, they made it sound like the warranty was not going to cost me anything and when I got home realized that it is costing me 2k. Is there anyway I can get it taken off or cancel it or something? My family is full of mechanics so if something happened, I know that it would cost me money but most anything is not going to cost me 2k. Thanks for your time.  

Answer
I'll assume you were given a copy of the warranty contract- on the back should be a paragraph about cancellation terms.  On 99% of the warranties I've seen, you have 30 days to cancel it and get all your money back (sometimes with a $25-$50 cancellation fee).  If you didn't get a copy, demand one immediately from the dealer.  You have the proper frame of mind about extended warranties: you realize without it that repairs will cost you money, but you don't mind possible future expense vs. saving $2000 upfront.  The people that DON'T buy warranties are usually the ones that need them most- the ones that can't afford to pay a future repair bill, because their car payment is too high.  Hey, if someone is stretching just to make their $400 car payment, where are they going to come up with $1500-$3000 for a major repair bill? Wouldn't they have been better off with a $425/ month payment that included full warranty coverage?