Hi board - my first post...........sorry I probably should have done more reading before asking but am going in tomorrow....... Here is the question - I understand I can get the 100k extended warranty for cheap like everybody else here. but my dealer said if I buy it from them, and don't use it at the end of the warranty, I get all the money back (quoted $1,800). Does this sound strange? Normal? Gamble?
<div class='quotetop'>QUOTE(peter jones @ Nov 20 2007, 09:41 PM) [snapback]542245[/snapback]</div> I'd be very cautious on this. My advice to you would be to read the warranty agreement very carefully to understand what constitutes "using" the warranty. A concern would be that the dealer would "decide" to fix something very minor under the warranty (i.e. replace a light bulb) and that would constitute "using" the warranty. Remember: the dealer is trying to get you to buy this because it makes them money. My guess at the way this usually turns out is that there is some repair in the first 100K miles that qualifies as "using" the warranty, but that that repair is usually much less costly than the cost of the warranty. Another thing to consider is if that warranty is only good at one dealer or if it is a Toyota warranty that is good at all Toyota dealers. If it were me, I'd probably just buy the warranty from this site. It's a genuine Toyota warranty and, by all reports, Troy is a pleasure to deal with. However, if you do decide to go with the warranty from your dealer, proceed very cautiously.
Don't buy an extended warranty. Buy a bank CD instead and make some money on the deal. If you can't afford an (unlikely) big repair which would not be covered by your regular auto !nsurance then you really can't afford a new car.
thanks for the replies....got my '08 #2 today without the warranty...... I gotta tell ya - the day before thanksgiving is the best time to buy a car. They wanted to leave so badly that they didn't throw much B$ at me........what more could you expect from a dealer... Well actually they did say they'd throw in 15 free oil change........yeah right! Seriously though, has anybody every bought this kind of warranty before and got money back??? I know they were lying but to what extent......
<div class='quotetop'>QUOTE(richard schumacher @ Nov 21 2007, 09:30 AM) [snapback]542461[/snapback]</div> Where do you bank? A CD is normally not liquid, so how do you have access to the funds when you need them for repairs? What kind of return are you speaking of? I have only seen the rates as high as 6%. That will not make enough interest to pay for any major repair. There have been several reports of Prius owners spending thousands out of pocket for these repairs. Please explain this to me like I was a two year old girl? Thank you, Shybrid
<div class='quotetop'>QUOTE(richard schumacher @ Nov 21 2007, 09:30 AM) [snapback]542461[/snapback]</div> Where do you bank? A CD is normally not liquid, so how do you have access to the funds when you need them for repairs? What kind of return are you speaking of? I have only seen the rates as high as 6%. That will not make enough interest to pay for any major repair. There have been several reports of Prius owners spending thousands out of pocket for these repairs. Please explain this to me like I was a two year old girl? Humor me with specifics. Thank you, Shybrid
<div class='quotetop'>QUOTE(peter jones @ Nov 20 2007, 10:41 PM) [snapback]542245[/snapback]</div> I've never heard of that ever from a dealer...Just purchased an '08 pkg 5 two days ago and was offered 6yr/75k 0 deduct for $1250.00 negotiated to $780.00. Negotiate a lower price!
If you decide later the extended warranty would give you peace of mind, buy it here from Troy. You can't beat his price and it's the full Toyota warranty, good at any dealer. I got 7 year, 75,000 mile for less than $700. (I don't drive that much.) I believe you've got until the car is 3 years old or has 36,000 miles on it to decide.
