Arrrggghh!!! Bought the Extended Warrantee at the Dealership...Help!!!

I'm no expert (since I'm still waiting for my Prius), but I think I've read here that you have 30 days to cancel the extended warranty.

 

I wouldn't waste time with the phone, get back down there and get the paperwork changed and the money refund started!!!

 

For the extended warranty, you have 30 days to cancel and get a full refund, less a $25 administrative fee. After 30 days, you can cancel and get a pro-rated refund, less the $25 administrative fee.

I don't know about your rights to cancel the maintenance agreement. But I think you should be able to cancel it and get a refund. Personally, I'm not a fan of maintenance agreements and wouldn't get one.

In any event, as posted above, you should go directly to dealer ASAP and cancel both. Things like this always work better in person. I really would try to do it ASAP because by doing so, you may be able to get a direct, immediate refund instead of having to wait for a check from Toyota.

If the dealer is willing to match PriusChat's prices, then you may consider accepting that. But please do not mention the names of PriusChat or the seller (Troy/WarrantyShack.com/Toyota of Greenfield, MA).

Finally, for the extended warranty, after you cancel it I would consider putting off a decision to buy it until towards the end of 36 months/36,000 miles. That way you'll have a better feel for whether you think you need the extended warranty, and which warranty (in terms of maximum time and miles) to get. Note that the $990 price offered here is for Toyota's best and longest warranty -- Platinum/7 years/100,000 miles/$0 Deductible. You can save a lot more if you decide to get the Platinum warranty with fewer years and/or miles as might be appropriate for your driving.

Good luck.

 

Luckily, by law they have to refund your money for 30 days, it's a toyota-what maintaince?
change your own oil so the dealer doesn't overfill anyway

as you see, if you have a problem, post it... lot's of help here

 

I never understood why people buy these extended warranties. Statistically they are horrible investments. And even if you do use them, horror stories abound on those trying to collect reimbursement. You bought a Toyota because it is one of the most reliable automobiles on the road today. Why buy another warranty? Are Priuses that unreliable that an extended warranty is necessary???

If you can't self insure the automobile for unanticipated breakdowns then you are probably in way over your head fiscally purchasing such an automobile.

Rick
#4 2006

 

You can cancel both the extended warranty and maintenance contract. After 30 days you'll get a pro-rata refund. I just cancelled both on my Altima last week in anticipation of getting my Prius this week.

 

what everyone said in this thread is the truth

i bought the 6 yr 100K warranty for 1995

felt sick to my stomach on the way home

called the finance dude and told him i wanted to cancel it

went into his office the next day and signed the new finance agreement (10 signatures)

and i was out the door with my 1995 back in my pocket

no sweat

 

Those guys are persistent and wear you down.I almost agreed to it, then my dad took me out of the office and said DON'T DO IT!!!

 

Cancel both. Apply the money to any outstanding debts, or if none buy a six-month bank CD.

 

all,

As extended warrantees go, the official Toyota Financial Services Platinum warranty available from PriusChat/Troy/WarranteeShack is the way to go if you're so inclined. It is accepted at any Toyota dealership. I would also recommend that you wait a while to see how your mileage is accumulat'g. I took the 7yr/100,00 mile/$0 deductible for $990 from Troy soon after the purchase, but at a little less than 3 years of ownership I'm already at 58,00 miles, so a 6yr/100,000 mile warranty would have saved me another $300 (at about $685, I think it was back then) or maybe even a 5yr/100,000 mile one (if it even exists from Toyota) would have been better in my case. The extended warranty is NOT added to the factory 3yr/36,00 mile one, but overlap & are based on your actual odometer read'g (100,000 in my case) & the actual time since your "in service" date [that Toyota will have on record---NOT necessarily so many years from the date you see on your paperwork (it may be a few days before or after your paperwork date).

Yes, the Prius (& Toyota products in general) is/are pretty reiable, but you'd be pretty surprised at the prices of some of the parts/assemblies if they were to fail outside of the factory warrantees of 3yr/36,000 (bumper to bumper) & 5yr/60,000 (powertrain). You don't need the extended warranty though for the hybrid components that are covered in most of the USA for 8yrs/100,000 miles [but in CA, NY, NJ, CT, MA, RI, NH, VT, & ME (& maybe even more now) for 10 yrs/150,000 milles].

Wait long enough to judge your mileage accumulation to choose how many years of coverage you want to mix with the # of miles you want to be covered for (as I wish I had) and that may save you some money. However there are a few advantages of not wait'g until just short of whichever comes 1st of the 3yrs/36,000 miles. One is that there may be a price increase by the time you decide to get it & another is that while you're covered under the extended warranty, if your car is in the shop for service for more than a day, it will provide you with a free rental car (& expenses too, I think, if you're on a trip away from home). I believe it also provides for free roadside assitance (if you don't already have AAA or one of the other automotive club memberships). We purchasers of the '04 & '05 Priuses didn't need to be concerned about the roadside assistance for our factory warranty period because that was provided free for us by Toyota back then (but stopped being provided since the 2006 model when it was seen that the Prius was reliable enough to not be a customer concern any more).

The extended warrantees with the horror stories (about not being able to collect on) that viking31 mentioned are 3rd party after-market ones commonly sold by Toyota dealers in the southeast region (& at some Toyota dealers elsewhere). These are usually only honored at the original sell'g dealer & won't help you anywhere else. They tend to be way more expensive & usually don't provide for roadside assistance or a free rental either. They are sometimes marketed by mail or phone too, but don't be suckered into getting one of them. Go with only the official Toyota Financial Services extended warranty (if you want one) that is honored at any Toyota dealer & provides the extra benefits. Just my advice.

Ken (in Bolton,Ct)

 

If your wife really really wants to spend $1000 for "peace of mind" (that is, an extended warranty that will probably never be used), god love her. Be sure to read the fine print to see what is not covered. Also note, as Boo pointed out, that you can buy Toyota's extended warranty any time before the initial 36,000 mile/36 month factory warranty expires.

But a pre-paid service plan is completely silly. You're letting one dealer use your money for free.

 

CARDINALFAN - i too thought that the extended warranty was important until i came to this board before i bought my prius. then, after reading everyones comments, i realized that many people know much more than i do, so i declined it.

i am glad i did..............everyone here is very helpful indeed. well, at least 99.9% of them!

 

Tell those pushy fincance folks NO.
If they ask again, look them straight in the eye and say, "Ive answered that question already, and if ask me again I'm walking out of this dealership. And you can explain to everyone why YOU lost this sale."

They won't ask again.

 

I buy extended warranties for the same reason I buy home owner's insurance, or auto insurance or any other kind of insurance: To insure against catastrophic loss. I've collected on two policies in my lifetime. In both cases my loss would have been far greater without the insurance.

As too difficulty collecting, it has more to do with the quality of your dealership than anything. And, if you do have trouble, running it up the chain of command of the manufacturer generally ensures satisfaction.

IMHO, YMMV.

 

A "catastrophic loss" is "a loss you can't cover out of pocket", and therefore it means different things to different people. If my house burned down, for me that would be a catastrophic loss, and therefore it's something that requires insurance. If the MFD in a Prius dies and costs $800 to replace, that should not be a catastrophic loss for anyone who can afford to buy a new car in the first place, and therefore it's not worth insuring against. Losing an entire Prius would often be a catastrophic loss, but how could that happen without already being covered by auto insurance?

The "peace of mind" argument is just a sales tactic.

 

There is also one problem that has not been mentioned. The annoying phone calls later to remind you that the extended warranty has expired (yeah, I cancelled it) and would you like to sign up for a new one. I cancelled mine without any probs, via lots and lots of signatures. Almost felt like signing mortgage papers.

 

The catastrophic losses I refer to are something on the order of complete ICE replacement or PSD failure or ABS failure. Each of those would be a multi-thousand dollar repair (maybe not for the PSD). Anyway, there are PLENTY of things that can go wrong that cost huge sums of cash that I may not have available at the time of the failure.

These are low order of probability failures with high order consequences. So, I prefer to insure against them. You may not. That's both of our choice. To be dogmatic and dismissive of other opinions is not helpful.

 

Is this your first Toyota Brian? The odds are very much in the Toyota owner's favour that without a warranty they will be well in front at the end of 6 years ownership than if they bought the warranty. As I have said before, my only major expense in 20+ years of Toyota ownership was a replacement water pump which I changed as a precaution. The mark I thought was from coolant was gasket sealant from assembling it. Cost $200 in parts including 2 pulleys and the car was 16 years old. I respect everones right to make the choice to insure against breakdown, I just don't see it as a good investment personally.

Just do the servicing by the book and on time including coolant changes. Oh and change the oil in the transaxle every 60,000 miles or even 40,000, that is good insurance.