Read B4 buying: Advise for the Toyota extended warranty?

[slingshot]

I got the platinum 7 yr, 75,000 with $0 deductible at purchase time. I was told I could cancel it at any time first 3 yrs. WOnder if I could cancel it and rebuy at cheaper price within first 3 years. Hmmmm.

[michaels artic frost]

I got the platinum 7 yr, 75,000 with $0 deductible at purchase time. I was told I could cancel it at any time first 3 yrs. WOnder if I could cancel it and rebuy at cheaper price within first 3 years. Hmmmm.

SILLY MAN...SILLY...hahah...

I can get a pro-rated portion back as well, but I better keep it.

[slingshot]

You get all the money you paid back within first three years then a prorated amount back every year after.

[michaels artic frost]

You get all the money you paid back within first three years then a prorated amount back every year after.

Interesting...actually my dad did that with their 04 Sienna. If you're in the market for a van, that be da one! He got all da options.

Thanks!

[Lone Solara]

I don't know if it was an act of desperation on the dealer's part (since I was not going to get an extended warranty), or because I bought my car through a credit union but I got a pretty good deal: 5 years or 60,000 miles for $300. I wasn't that worried about the engine, tranny and such, but since I have the convertible, I figured $300 is not a bad investment if the top mechanism goes bad.

[focus]

can you still get an extended warranty after purchase?

[sparkler]

can you still get an extended warranty after purchase?

Yes...the sooner you buy it, the lower the cost.
Check out www.toyotawarranty.com

[Elmer]

I just bought one for my Tundra. Platinum 7 year 100K for $830. My dealer quoted me $1600, wouldn't budge an inch.

You can buy your warranty from any Toyota dealer. I bought mine from a dealer on the East coast. Google is your friend.....

[DatSRBoi]

I hate toyota dealership. I wont take my car to them even if my transmission is hanging loose. They were the one who got my car into the breaking zone in the first dam place........

[DatSRBoi]

AHH crap.. sorry guys.. didnt know this was an old post brought back up.. dam who was the one who did it first?


Fingers pointing....

[PXLpainter]

I wouldn't normally take it - especially since I plan on modding my car anyway, but it saved me over 2 points on my loan and actually dropped my payments considerably. Who knows if I'll ever use it - but I did it for the financing.

[MCOjerry]

I wouldn't normally take it - especially since I plan on modding my car anyway, but it saved me over 2 points on my loan and actually dropped my payments considerably. Who knows if I'll ever use it - but I did it for the financing.

You got a 2% rate reduction, just for buying a warranty? That's crazy. Sounds like they had the rate to offer you anyway, and might have scammed you into buying the warranty.

I can't think of a reason that a bank, credit union, financial institution would care if you bought a warranty or not. If you car breaks, you still have to make your payment and are liable for the whole loan, so having a warranty doesn't help them out any.

Interesting..

EDIT: maybe if it were a lease, but I still can't see it.

[linmk2]

I worked for many years in dealerships and have learned first hand, there are good extended warranties and bad ones. The two biggest problems are; who will take them and the financial condition of the company backing them. Dealers tend to go to companies where they make the most commisssion. The better plans cost the dealer more, hence less profit, so they tend to shy away from those. Remember the old saying, you get what you pay for. Bargins sometimes turn out to be anything but. During my time in the business, there were three companies that went belly up. We sold hundreds of policies, but no way to collect on them. We had no choice but honor the warranties we sold, but it costs us tens of thousands of dollars. Also many of these cheaper warranties are only good at dealerships who sell that brand of warranty. If you breakdown somewhere out of town, you may not be able to find a dealer who will honor that warranty. So make sure you know what you are buying before you buy it. Read the entire warranty! The dealer will tell you everything is covered, just like the factory warranty. Most of the time, that is not the case. Read, read, read! Good extended warranties can save you a lot of money. Bad ones, can be a nightmare. Be careful before you sign of the dotted line. One last thing, one type of aftermarket insurance you might consider if you finance your car is Gap insurance. What that is, if the your car should be totaled, gap will pay the difference between what you owe on your car and what the insurance pays off. With today's car prices, the difference could be a lot.

[PXLpainter]

Well - due to a crooked business partner's greed and stupidity a few years back, I was left holding the bag and fugged-up my credit... so when everyone else turned me down (even my credit union) my friend who is the lease manager over at Carson Toyota got me into the Solara at 10% with the deal - including the extended warr, Gap, etc... I took it and ran with it. By the time this car is paid off my credit will be in better shape as well, so I'm thankful.

[MCOjerry]

Well - due to a crooked business partner's greed and stupidity a few years back, I was left holding the bag and fugged-up my credit... so when everyone else turned me down (even my credit union) my friend who is the lease manager over at Carson Toyota got me into the Solara at 10% with the deal - including the extended warr, Gap, etc... I took it and ran with it. By the time this car is paid off my credit will be in better shape as well, so I'm thankful.

at that interest rate!

The best and fastest way to improve your credit is to buy a house. A mortgage will bring your credit score up like nothing else. Of course any installment loan, paid as agreed, will do well too...but a house will be much faster.