Your experience with Toyota Warrenty?

yuving:
Definitely cancel that $3100 ext warranty. That is a huge rip-off I have ever heard off!
The same warranty can be had for around $1000 on warrantyshack.com (same Toyota warranty).

Owning a Ext Warranty is a personal financial decision. Much like medical insurance, auto insurance, etc. Some are more risk taking, others are more conservative (budgeting-oriented).
It is your choice. Statistically, you lose money on Ext Warranty. The same for other insurances as well (that is how insurance comanies make money - statistically they win.).

For $1000 it is a good trade-off to make. For $3100, it is a no-brainer. Cancel it!

 

He lied. You have 30 days to cancle with no penalty.
Cancel it and get from here on forum at warranty shack for $1055 and it is a full Toyota warranty.

 

I'd go for the 125K mile warranty offered here on PC by Troy. Thta's a lot of warranty for a car.

 

Re: Your experience with Toyota Warranty?

Do you have the warranty paperwork ? Read it to know exactly​

how to cancel, and do it right away. You have up to three years to buy an extended warranty from Toyota, so take your time and think about it.
Commonly, people who buy warranties will tell you it is OK to buy one, and people like me will tell you to think twice I think most of us can agree that:

• If you do not have $3 - $5k in cash to pay for the very rare but possible repair, buy the warranty.
• If you are fairly sure that you will sell the car to a private party before the warranty is up, consider buying it.

 

Dealer told me the same thing about having to buy the warranty on the day of purchase. I bought from Santa Monica Toyota. I canceled and saved over 2k through Troy here on PC.

I feel it is quite despicable to take advantage of a customer like they did. I just dropped over 30k on a new car and they overcharge me by the thousands for a warranty/maintenance plan. Needless to say they will not see my business again.

 

Run, don't walk to that dealer and cancel that warranty. That is a ripoff beyond any I've ever seen!!!!!!!!!!!!!!! Do you realize that you spent over 10% of the vehicle cost for a warranty you may never end up using? My car is six years old (well it will be November 3rd). I have the extended 7 yr/100k warranty and I've never made a claim yet. The way things are going, I don't think I'll ever get any money out of that warranty. One thing is certain. For a thousand bucks it was worth the POM.

 

OK, I'm a little embarrassed admitting this, because I'm always the one that scoffs at extended warranties in most situations, but being a new Prius owner, this site is so great, and I'd like y'alls opinion. I bought a Prius II, and managed to get both the Texas and Federal CFC rebates, and saved a total of $8,050 on my car purchase. Seeing as I wasn't expecting to get the $3,500 from the state because of an issue with the title of my car being in my mom's name, I was in a bit of a daze through the whole process, after I was told last minute that there was a way they could make it work. Make it work they did, but the daze I was in led me to go with a rather hefty amount of extended warranties/service plans. To the tune of $4,000 to be exact! :redface:

What that $4,000 bought me is:

free oil changes etc for 6/90,000 ($1,395)
free optional scheduled maintenance: 15 thou, 30 thou, and on up to 90 thou check ups ($600)
extended platinum warranty 7/100,000 ($1,795)
5 year tire warranty ($200)
3 year window crack warranty [not window replacements, just crack fill ins] (thrown in for free!! )

Seeing as I way basically playing with the government's money, I figured I go with the works now, so that I won't be required to pay anything on this car for about 7 years. But with a couple days to reflect on things, my 'informed consumer' nature is kicking in, and I'm starting to kick myself for paying $4,000 up from for this stuff. What do y'all think? Be gentle.

 

^^ go get a refund on all the crap you bought.

 

I bought the same warranty from my dealer for $2500 with the "assurance" that if the warranty isn't used within the warranty period (7yrs/100,00mi) that my entire $2,500 would be refunded. Anybody else get this offer?

 

I bought the same warranty from my dealer for $2,500 and was told that if I didn't use any portion of it during the warranty period (7yrs/100,00mi) that the entire $2,500 would be refunded. Anybody else get an offer like this?

 

Did you get that in writing? And what does "didn't use any portion" refer to? If you need a new cup holder lid at 85k miles, does that mean you wont get a refund?

 

I do have a "Buy Back Agreement" and the company is called Sterling Advantage. The warranty is fully Toyotas but the refund comes through this company. If I have any repairs during the warranty period I can opt to pay out of pocket (ie. the cup holder lid) and not use the warranty or if it is something big (anything over $2500) go ahead and tap into the warranty which would then erase my refund.

 

With that business model I would be worried that the company would no longer be in business when I needed the warranty or the refund.

 

V2supply, have you been paying attention to the connection between derivatives and the current economic crisis ? They suckered you into it. Again.

 

Whether it was a good deal or not, I called and cancelled it early this morning. Buying a Toyota will be my extended warranty!

Thanks for the comments.

 

Did you call your dealership, or did you call the Toyota number? I'm wonder what I should do when I cancel mine in a few days. Go down to the dealership, or do it over the phone.