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However, will you get such a sweet deal then for your warranty 3 years down the line? Ask that question to yourself and if the answer is yes then you can defer it.
I am a finance guy so I presume that
PV (future extended warranty price) > $1079 ( the price I paid for 8yr/100k 0 down extended). This means that I will save more by investing on that extended warranty today.
All the best for your warranty search.
Thanks for being one of the few that "gets it."
Regards,
Shayn
Houston, TX
The dealer sold us 5 yr 80k for $1495. We bought it on $200 costco membership discount if we purchased the same day as the car (2011 Sienna). This is the first lie, as we later found out this price with discount is already $200+ higher than the Toyota's suggested retail price.
The dealer told us we have 30 days to cancel it. This is the second lie. We called Toyota Financial Services and were told that we will have 60 days (in CA) to cancel it once the dealer has submitted into the Toyota's system. Guess what, the dealer has not yet submitted the application when we called. We have plenty of time to cancel it.
Then we called the dealer and told them other Toyota authorized dealers offer much lower price. You already know what they told us: the dealers out of state could not sell you the warranty package reliably. This is the third lie. The Toyota Financial Service told us that we can purchase warranty package from any Toyota dealer, we should shop around, and as long as we purchase it before 3 year and/or 36k miles. Call them for yourself.
Just want to share this to all of you, so you get prepared when you shop. We are glad we can cancel it before too late. We have bought the same "expensive" warranty before(did not discover forum like this one. sigh). Enjoy shopping.
Of course, the TFS was trying to put all the blames on local dealer. They forgot that the vouchers were sent from TFS in FL and TFS received the order 6 months ago.
Who did you purchase the warranty from in Midwest Toyota? 8 yrs/100K for $709 is pretty good deal. I just purchased a 2011 Sienna XLE and got the platinum plan 8 yrs/75K miles for $1995+ tax, which I realize now is a rip off.
Thanks,
MN
I dealt with Jerry Jones from Midwest. Price was as advertised and the process was a breeze
-I was offered a "package" and "discount" since I was a previous Toyota/Lexus customer. That moved super inflated prices to just inflated prices.
-I was told "you can only buy the extended warranty and the prepaid maintenance plan the same day I purchase the car". Right.
-When I said no thanks, I was given a $200 "Costco discount" too. Nice.
-Then I was told about tire protection that does not cover my tires. Huh?
Molle Toyota in MO is the way to go for the extended warranty. They are actually cheaper than Midwest.
I spoke with a midwest Toyota dealer that quoted me
7/100 $889
8/100 $1039
8/125 $1399
I would need to get this extended warranty before 36K miles and just thought that I would have the dealer remove the CPO and just get the EW from midwest. Or how much would the additional coverage of 7/100 platinum EW add to the CPO? I would think it would be less than the $889? All thoughts are appreciated.
The CPO plan basic warranty adds (last time I looked) a year and 12k miles to the bumper to bumper (so I guess that would take you to 44k miles), plus 7/100k on the powertrain. If they are advertising the van as CPO, they may have already done the paperwork and getting them to reverse it might be difficult. But it is a great thought as it could easily cut $1k or more from the price that could be then applied to the Platinum warranty.
The Platinum plans are available with different deductibles, so make sure those quotes are for the package you want. I paid $1450 for the 8/125 with $0 ded from a dealer in the Chicago area (Toyota of Danville) that I found on line. I put this on top of the CPO warranty, and agree that while it is moderately priced for a platinum plan, it is pretty crazy in that you already have some of this coverage from CPO - essentually you are paying twice! But it was the only way to get the B-to-B coverage that I wanted for the long haul.
You would think that there would be some kind of discount when adding a Platinum plan to a CPO plan. And indeed there is a CPO Platinum plan that differs slightly from a 'regular' Platinum plan. You have to read the fine print to see the differences. Mainly it entailed the Roadside Assistance terms. But the selling dealer wasn't willing to deal on the price to the extent that I could get it from another dealer, plus by going out of state I skipped on the sales tax. In the end, it was better to go regular platinum than CPO platinum.
Just put the money in a separate savings fund, and hopefully you'll never use it, so you can apply it to your next car.
helpful. Thank you everyone for sharing your experiences and knowledge.
What I'd like to say is that I purchased an 8yr./100,000 mile Toyota Platinum Extended Warranty ($0 deductible) from Jerry Johnson at Midwest Toyota in Hutchinson, KS. His price was $1039.00. The closest competitor's was $1090 for the exact same warranty. My dealer here in Texas offered me a third-party warranty (also known as an insurance policy) for anywhere around $2145 to $2400, depending on how I financed the thing. I did not give them a chance to match Midwest Toyota's deal.
Why other Toyota dealerships don't offer such a deal is puzzling. Even more puzzling that some offer non-Toyota/third-party warranties. Oh well, it literally pays to do a little extra research and homework about these things. Here's hoping that my extended warranty will
pay for itself someday between years 4 through 8 or 36,000 to 100,000 miles!
What do you think of spending $1200.00 on warranty? Can't decide..
Route 66 warranty will cost 1,200 or so from what i hear..
thanks
You gotta love the stories these guys like to tell. It is true that some states do by law prohibit the purchase of extended warranties out of their state (FL, for instance). Check to be sure.
So here I am - researching. In general I've always heard extended warranties are a waste of money - and at $1700 I definitely don't want to waste!
The van has just over 36k miles on it and was previously a rental. I just don't know what to do...whether to keep the warranty or let it go. Thoughts? Most posts/replies I've seen refer to *new* vehicles which is why I'm asking. Do people have to haggle with the repair centers to get things covered under the warranty? And if Toyota is so reliable and well-built as has been touted for so long...do they actually *get* used??
Thanks in advance-
Concerning the Platinum plan, your dealership didn’t lie to you, but they didn’t really tell you the whole truth either! There is a special version of the Platinum plan for CPO purchases that is only available on the date of vehicle sale. From reading the fine print, I only see that it enhances Roadside Assistance (lifetime instead of 1 year, IIRC).
If the vehicle was under 36k, you could add a standard Platinum plan at any time from another dealer. As you are over 36k, this might be an issue, however, being that you have a year of CPO coverage ahead of you, Toyota might let you add a plan during this ‘extended grace period’. Better make some inquiries to sellers quickly to be sure!
On the question of whether or not to add one . Depends on your luck and history with cars. My #1 concern is electronics. Failures on these systems can be more costly than major engine work, and is probably more likely.
I added a 8 yr / 125k platinum $0 deductible to my CPO vehicle for $1450 from a dealership in Illinois. Buying out of state also saves you the sales tax.
A couple of hooks to consider should you decide to cancel the one you took.
1) If you rolled it into the financing, you are screwed. The check goes from Toyota ExtraCare to the lender as an advance paydown on the loan. You won't see a dime of it. The only way to really get your money back is if you were fortunate enough to have used your credit card to pay for the warranty separate from the vehicle contract.
2) If you paid tax, you may have to lobby the taxing authority to refund the money. Toyota ExtraCare doesn't get it, so they don't give it back. That transaction is between the dealership and the State.
Wonderful, isn't it? More stuff that the dealership didn't tell you when they advertised it as "REFUNDABLE". Technically it is, but you may never see it! Sorry to be the bearer of bad news.
To be more clear - what we purchased on top of the Cert. used vehicle limited warranty (which basically just covers power train) is the Certified Platinum Plan. $0 deductible, roadside assistance, possibly transferable...
Did your CPO vehicle have over 36k on it when you purchased your warranty? I'm assuming not- from what I've read in previous threads, buying from a separate dealership was only available when under 36k or buying new.
I'm thinking we'll likely keep it on there considering we *did* roll it into the loan and won't see a decrease in the monthly payment amount from canceling it, and it does give us an extra 60k with more comprehensive coverage.
Ugh!! So stressful to work it all out -
http://www.toyotacertified.com/warranty.html
How long is the Toyota Certified Used Vehicle Warranty in effect?
12-month/12,000-mile Comprehensive Warranty
Whichever comes first from the date of Toyota Certified Used Vehicle purchase.
7-year/100,000-mile Limited Powertrain Warranty
Whichever comes first from the original date of first use when sold as new.
1-year of Roadside Assistance
From the date of Toyota Certified Used Vehicle purchase.
Net = you are covered by a new car equivalent warranty right now!
What you were told: "We were informed that the regular 1yr 12k comprehensive warranty starts at the date of original purchase and in this case it was in 8/2010 so it is out of the regular bumper to bumper coverage provided for a new vehicle". This makes absolutely no sense, as the basic 3 yr / 36 warranty is in effect from the date of original purchase!
When we bought our CPO van it was under 3 yrs old with 20k miles. So we were initially covered by the end of the original 3/36, on top of that the 12/12 comprehensive warranty, and then we added the Platinum extension.
Now again, per the downloadable brochure: you can only get the special CPO Platinum plan on the day of purchase "This protection is only available at the time you purchase your TCUV." So you were wise to do something.
I just hate the BS and lack of full & factual disclosure. This stuff should be in writing by law.
I happen to look at this forum since we're looking into buying a Sienna. And sure enough, when we closed the deal with the dealer, they offered us extended warr for 8y/100K for $2400, which I smiled and declined.
We purchased the 8yr/100Kmile Toyota Platinum Extended Warranty ($0 deductible) from Jerry Johnson at Midwest Toyota in Hutchinson, KS for $1039.00.
I'll add that we did get a good deal for our new 2012 Sienna XLE with Nav+ for $33K+ tax&lic, so I commend Elk Grove Toyota here in California as well.
Now all I need to know more about is the Toyota Care plan, pros and cons.
Here's Jerry's contact info if you're in the market:
Jerry Johnson
Warranty Manager
Phone 800-530-5789
Email jerryj@midwestsuperstore.com
I ended up contacting Jerry at Midwest Superstore, and bought the same warranty (7yrs, 100,000 mi) for $890. What a bargain. As other posters have indicaed, it is a factory warranty and is valid at any Toyota dealership.
So, once again, here is Jerry's contact info:
Jerry Johnson
Warranty Manager
Phone 800-530-5789
Email jerryjmidwestsuperstore.com
I just finished my financing paperwork and I received a quotation of $1049 (with Costco discount) at Toyota Sunnyvale and $1500 for 5 year/75K maintenance and $400 for road tire hazard.
after reviewing the forum, it looks like I should cancel this.
and just get the 7yr extended warranty from Jeryy or the MO guy.
what is your opinion on the prepaid maintenance costs?
I believe Toyota is now covering 2 years of maintenance for free.
so really we are only talking about years 3 thru 5.
and if we put in 12k miles a year, thats 25K, 35K, 40K, 45K, 50K,55K - 6 minor services and 30k and 60k - 2 major services.
how much would that cost?
does extended warranty also cover road tire hazard? is that worth it?
he says due to cost of tires, it is worth it - but i guess that will be available also cheaper elsewhere.
As for the prepaid maintenance cost plan, I would say not worth it. You can deal with each service when it is time, and get coupons/offers/% off, so it does not make sense to pay for it all upfront now.
I normally don't even consider the extended warranties but I just got rid of a 2006 Cadillac SRX that the warranty would have no doubt paid for itself several times over with all of the repairs we had. I'm not having much luck finding info about warranties of this nature by searching online except for this forum and even at that most if not all seemed to have been purchased prior to the 3yr/36K expiration.
A couple of emails and a phone call with VIN and cc# and I'm the happy owner of an 8 yr/100,000 plan courtesy of Doug at Toyota of Danville (IL). Doug supports "Sienna Chat" so I supported him. Plus, he's within driving distance if I need a FTF for any reason.
Thanks Doug
Yes, you can cancel the plan thru TFS, but they will not renegotiate the loan. Therefore they will make a principle payment against the outstanding balance, thereby reducing the term of the loan. The monthly payment, however, will remain the same.
Next insult will be trying to get a refund on the sales tax if you state charges tax. It didn't go to TFS, so they will naturally refuse to refund it. The dealer paid it to the state. In some states, "insurance policy" taxes are not refundable, so they may refuse. You may have to go to your state's attorney general for help on this.
Is it worth to have an extended warranty on this vehicle by taking out another 1000? Please advice