Can I cancel and get a refund for extended warranty?

I don't know what you signed. But it seems to me that if the car has not been purchased and delivered yet, then you should be able to cancel the extended warranty, the GAP coverage and the Toyota financing without prejudice or consequence (I don't think that even the small administration/cancellation fee should be charged).

Don't beat yourself up too much about being unprepared. The new car purchase/sale is something you do only once every 3 - 10 years, but it's something the Closer does one or more times every day. Advance preparation is always good. But no amount of preparation was going to fully prepare you against the Closer and his exponentially greater experience and frequently questionable ethics.

 

whoa.. that is a small piece of info that should have been brought up a long time. A contract is not valid until a vehicle is produced. Did you sign the purchase order or an actual contract? Irregardless, you can change your mind at any time. Toyota financial will not accept a contract on a car until that isn't even at the dealership yet.

You could walk in today and tell them you don't want the car, let alone all the extras and the dealer has no recourse at all.

Just call the dealer, tell them you are going with your own financing and to remove the warranty from your deal. I would leave the gap though.

 

Yep, my wife and I did this. Came in with PenFed 3.99%. We actually started the conversation asking if he could be that rate. He said no. We eliminated probably 20 minutes worth of conversations if we hadn't done our homework, first.

By the way, you don't have to be a gov't employee to take advantage of PenFed. For just $20 you can join. Those interested, PM me if you want more info and I'll ask my wife for the exact process in the next day or two.

 

ROTAZ, I was told from my dealer that you have 5 business days to get a better deal after you sign with the dealership. You have to get the credit union (for example) to overnight the full check to the dealership as it can take 2 days for the entire loan process + mailing of the check. You'll then make your payments to the credit union each month.

 

Be careful with that one Steve. Technically, I can have the deal approved and sent to TFS within a few hours. Then your payoff will go to Toyota, not the dealership. But, this can vary by state laws and your right of recision.

 

Of course. Another example and why these forums survive!

 

I cancelled the ext. warranty within a week of buying mine... not because it was over-priced (it wasn't too bad actually), but because I realized that I was going to put too many miles on my Prius in the first couple years to make the extended warranty worth anything. I felt stupid for not realizing it before I had bought the damn thing.

 

You are an donkey

 

Hate to say this @Silver bullit but I don't believe @wvgasguy will read your post anytime soon. Last time he/she was seen on this forum was 5 years 9 weeks ago.