Cancelling Ext Warranty if I bought Certified Used from Stealership?

Hi
IMHO, any warranty that is sold to anyone for anything that you MUST buy it right now, is a highly possible rip off !
As to canceling your purchased warranty, it probably depends on the time elapsed from purchasing.
Good luck.
Great name for your Dealership, Stealership !
Bill in FL

 

The warranty is through Toyota, not the dealership. They just sell it. Toyota will allow you to cancel at no cost within 30 days, as I recall. After that you can still cancel, but you only get back the part you haven't "used" (based on time).

Talk to your dealership. Tell them you have been offered the warranty at the lower price, and if they don't lower their price you will cancel. Most dealerships will reimburse you to keep the business. They still make a nice profit even at the Priuschat price, considering there is virtually NO overhead!

 

Your negotiation with your dealer is over. At best it is bad form to divulge the identity of the other dealer with the better price. At worst attention from the wrong places can force the on-line offer to be discontinued.

If your loan included the warranty then the refunded amount goes to the holder. You will have to ask them how that will be refunded to you. State law will have some effect.

 

What Jim said! I went through the same deal. I just called TFS and they handled the cancellation. I didn't have to talk to the dealer. Toyota charges you a $25 fee to cancel (if your state allows it, mine does) and they credit your loan balance. Your monthly payment amount doesn't change to reflect the new lower balance. Your balance will of course decrease.

Marv

 

I bought both a maintenance plan and the warranty, after 90 days I hadn't gotten any of the coupons in the mail for the maintenance plan, after the dealer kept ignoring my inquiries I called Toyota and got both the warranty and the maintenance plan canceled and refunded to the loan amount without a $25 cancellation fee.

It sounds like the dealer used underhanded dealing tactics saying you had to make that choice at the time you purchased, I would call toyota and go with that if the dealer doesn't do what you want.

 

Question is, why purchase an extended warrantee if your not going to keep the car that long?

Icarus

 

We did this in California. They were a bit less pushy and gave us a "deal" so my wife wanted to get it for the expensive stuff that could go. I could not convince her until we got it home and looked at the warranty booklet. After a month, she went back to the dealer and canceled it. They refunded the cost to TFS, so it cuts down on the term of your loan.

 

Since you plan to trade the car in "within a few years", it doesn't seem sensible to buy a 7 year extended warranty. Cancel the warranty and get the credit on your loan. You won't see the money now, but you'll see it when you trade in the prius.

 

I suggest that you talk with Troy before you cancel your present coverage. I am not sure he can sell you a plan for a previously owned or a used car.