Extended Warranties

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Comments

  • ymflymfl Member Posts: 10
    payoff is $11,000 - I can't afford a $400 car payment.
  • ymflymfl Member Posts: 10
    its a 4 cyl. - 2wd base model (no sunroof, no leather,)
  • snakeweaselsnakeweasel Member Posts: 19,592
    Personally I would walk away from it and get a new car, or at least something newer.

    2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D

  • geo9geo9 Member Posts: 735
    With those kind of miles on a lease mobile I can see a HUGE
    over mileage charge !!!!!!!!!!!!!!

    The downside of leasing rearing its ugly head !

    Cheer up anyhoo ! Its a toyota and chances are you will get
    another few years and miles with very few problems........

    Avoid ALL those aftermarket companies no matter their AM Best rating or risk retention group!
    Read the Warranty gold thread here..................
  • snakeweaselsnakeweasel Member Posts: 19,592
    With those kind of miles on a lease mobile I can see a HUGE
    over mileage charge !!!!!!!!!!!!!!


    Its a 2002 so its 5 years old, that doesn't sound like a lot of miles for a 5 year old cat. At 12K a year 51K miles is not a lot, I would suspect there won't be a over mileage charge.

    Cheer up anyhoo ! Its a toyota and chances are you will get
    another few years and miles with very few problems........


    Toyota or not any car will get you many more miles and years, Toyota really won't get you any much more than any other car. The thing is is the truck worth the $11K. A base 4 banger with 2WD would not be. He would be better off getting something else or paying less for that car.

    2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D

  • mikefm58mikefm58 Member Posts: 2,882
    Edmunds has the truck priced at $10738 for private party in average condition, clean condition would add another $2281. The mileage is considered low.

    Is it worth it? To me, no. But to the original poster, I would say yes. I personally wouldn't spend $11K on a used vehicle that I don't know if it's been maintained or not. But if the original poster has done the maintenance and the vehicle has been trouble free, then I'd say it's a good buy for them.

    But to answer their original question I can't be of much help as I don't think you can get a Toyota backed warranty and I'd never recommend an after market one. I'm a graduate of the Warranty Gold School of Warranties.
  • geo9geo9 Member Posts: 735
    MIKE......I got burned too by a warranty company based in
    Buffalo NY........Buffalo warranty co.????????
    So I feel your pain!

    My 04 Chevy truck is nearing its warranty end period. I am still up in the air about buying a new GM GMT-900 3/4 ton.
    Not many on the lots and NO discounts or rebates yet!
    This one only has 20k miles but is used for heavy towing and
    snowplowing. If I decide to keep it I will purchase a GMPP
    warranty. Snowplowing KILLS any brand truck and 1 broken
    transmission or transfer case cost THOUSANDS to fix.......
    So the $800 GMPP ex-warranty is a safe bet!
  • geo9geo9 Member Posts: 735
    SNAKE.....I am assuming that poster has a low mileage
    long term lease..............

    Heck....Paying for a car TWICE (lease payments plus buyout).
    Makes no sense to me..............
  • 151ranch151ranch Member Posts: 109
    I believe there is an upcharge for buying a GMPP on a truck setup for snowplowing/commercial use...you'll want to make sure you disclose that upfront or even GMPP will deny the claim when your tranny goes.
  • geo9geo9 Member Posts: 735
    151...........Yea I am aware of that $250 upcharge......
    Black GM dealer in Pa. has the best GMPP prices.
    But I get addl. $$$ off because of I am GM employee/family so there is a further discount.
    Still have 3 months of factory warranty left anyhoo so I
    still have time.

    I really can't kick about repairs tho. My 01 needed a
    new trans. case. My 90 +97 I smoked a tiny 700R trans.
    ALL my fault from beating them HARD. But repaired under
    warranty

    My bud just brought home a new GMT 900 last nite so I finally was able to feel touch and drive one without
    the salesfolk hanging on me...............

    Not to mention because I have 4 other vehicles so the truck
    has LOW miles. I dread having to swap my plow to the new
    truck not to mention it will cost about $1000 bucks for
    parts ie: new push bar and wiring harness...........

    But here in lake effect snow land a 4wd and plow are required items....................
  • ymflymfl Member Posts: 10
    I am the original owner - have taken very good care as far as the oil changes, tire rotations, and actually I'm under the mileage. For a 5 year lease - I should be at 61,000.

    I could get a few more years. And it would be cash buyout so no monthly payments.
  • dwynnedwynne Member Posts: 4,018
    First off, never, ever sign such a long lease. I assume you got this new in 01 or 02?

    I wonder if this would qualify for a Toyota CPO? If so (and you are under miles) you could work a deal with your dealer - turn it in, get the CPO'd (about $500-1000 plus any needed repairs) then buy it back with a CPO warranty.

    Dennis
  • geo9geo9 Member Posts: 735
    No toyota factory warranty avail. after the factory warranty
    runs out (most automakers are the same).

    Since you have had it from new IMO a ex-warranty is not needed ! I run my Cadillacs to 100k plus miles in 5-6 years
    and never needed a warranty. My trucks are another story!
  • snakeweaselsnakeweasel Member Posts: 19,592
    Edmunds has the truck priced at $10738 for private party in average condition, clean condition would add another $2281. The mileage is considered low.

    Yep and many people will tell you that numbers like that are a tad on the high side.

    Now I am presuming that the poster leased the vehicle new (as I don't know anyone who has been able to lease a used car but I suppose its possible) so this shows how bad a lease deal can be. He has been paying for 5 years and still owes $11K on it.

    2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D

  • ymflymfl Member Posts: 10
    Can you please tell me what a CPO warranty is? I did lease it new in 02.

    Thanks.
  • geo9geo9 Member Posts: 735
    Yup...........Leasing a high residule (spl) vehicle
    (esp. a toyota) with little factory or dealer lease
    support $$$ makes them pricey................

    You know that dealer would snatch that one up off lease
    and have it front line ready for BIG $$$ even tho it
    is a low option, stick vehicle !

    Even if YVMF made a deal with the dealer they would be
    paying thousands MORE than $11k buyout price......
    Mr. Dealer is out to make ca$h. (as they should...BUT
    NOT off us Edmunds folks!!!!!!!!!!) :P

    Ugh........leasing !
  • dwynnedwynne Member Posts: 4,018
    CPO = Certified Pre-Owned

    See this link for the details on the Toyota CPO program. 3 month/3,000 bumper to bumper (not much, I admit) from the time or purchase, but you get 7yr, 100k mile powertrain and 7yr/100k roadside assistance (the 7yr term starts on these from the day you leased the truck new - so about 2 more years).

    2002s must be OK to CPO since a search of 2002 Highlanders shows 9 of them available CPO.

    I would ask the dealer how much the CPO would cost and how much they would charge to do it - then decide if it is worth while to you are not.

    Folks do this a good bit on high end cars, like BMWs. They lease them, then turn them in and re-buy as CPO to get the long warranty (BMW has no factory backed extended warranty).

    I think the Toyota backed extended warranty ship has sailed on your truck - it looks like you have to be within 36/36k of new to buy "extra care". It looks from this discount dealer it would be $1,095 for 84 mo/100k miles.

    As to a 3rd party warranty, I would not risk my money on one. Get a price on the CPO or just do nothing, I guess.

    Dennis
  • dwynnedwynne Member Posts: 4,018
    Ugh........leasing !

    Nothing wrong with leasing - but just like buying you have to know what you are doing and negotiate a good deal.

    Folks buy cars all the time for MSRP or over and get ripped on every trade in they have ever had. This is no different from signing a bad lease deal.

    Get a factory sponsored lease deal under 2% effective and negotiate the price of the car to invoice or less, add in some incentive money, and you have got one sweet lease deal. It is also nice not to have a trade in to worry with, but in my case I have never (yet) turned in a lease car. I can always find someone to buy it from me at lease end so I make a little money on it.

    A bad lease is just like a bad sale - a bad deal. A good lease can be really nice.

    Dennis
  • geo9geo9 Member Posts: 735
    It must be only a toyota dealer can offer a CPO on a
    used toyota (over the mfrs. factory warranty limit)
    on a unit THEY sell..............

    Wheres a toyota sales guy to answer this?

    But like I posted above they are gonna charge some
    big $$$ for it !!!!!!!!!!!!!
  • geo9geo9 Member Posts: 735
    D...........Yea....BUT most folks only see the payment amt. per month and not the TOTAL cost. Not to mention all the
    assoc. fees along with the over mileage charges most people
    face at turn in time.

    Posts and posts on these forums over these things.......

    For SOME folks leasing is a good deal esp. if you can write it off as a business expense..........

    But the average Joe only sees the low payment amount.
  • 04cad04cad Member Posts: 131
    Hi a few years ago I found a thread listing a GM dealership (I think it was Black Chevrolet) that deeply discounted the factory GM extended warranties. I have since lost my bookmark and am trying to find their contact info. if anyone still has this info. I would appreciate a reply. thanks in advance
  • geo9geo9 Member Posts: 735
    Here ya go.......

    http://www.gmoutlet.com

    They don't show the price on that site. To get it you
    just type in the car info. and it comes back by e-mail
    with miles/prices etc....!
    Don't worry no salesfolks will bug you either because no
    personal info. is needed. Just a e-mail addy.
  • dwynnedwynne Member Posts: 4,018
    There is (seemingly) no end to "discount" GMPP dealers online. The 'vette folks used to buy them from Ken Fichtner - at the time I purchased mine they were the cheapest place around. You will have to call them for a quote, since it seems they don't sell them on their web page.

    If you google discount GMPP you will get tons of hits, including these:

    http://www.gmprotectionplanonline.com/

    www.gm-auto-mall.com

    With the same coverage and deductible (if any) the plans should all be the same, so shop around for the best price.

    Dennis
  • dwynnedwynne Member Posts: 4,018
    It must be only a toyota dealer can offer a CPO on a
    used toyota (over the mfrs. factory warranty limit)
    on a unit THEY sell


    That is correct. Assuming you leased from a Toyota dealer to start with (and with Toyota financing) you will be turning the vehicle back into the dealer at lease end. You make a deal with the dealer to turn it in, get it CPO'd, then buy it back as a used car w/CPO. It would cost you (at least) the CPO fee and the inspection fee for the dealer to check it out, plus whatever profit they add into the deal.

    Folks do this all the time on high end cars to get the CPO protection.

    In other cases, when you turn the car in the finance folks will offer it to the dealer at a discount (or will listen to an offer from the dealer) which can be a lot less than the lease buy out price. If the dealer does not take the car, they USUALLY roll it through the auction - and NO ONE pays much at an auction. So rather than pay someone to transport it to the auction, auction fees, and low price they CAN make a dealer a nice deal on it to take it. With a GOOD dealer you can save a bunch off your lease buy out price - even allowing for dealer profit. Also, some banks (like Capital One) have better rates for used car purchases than for lease buy outs - so you can save on that end of it too.

    If it is worth doing it in this case, you would have to see what the dealer would charge for this. Since the vehicle in this case has past the 36k mark you can no longer get a Toyota extended warranty for it.

    Dennis
  • cjeagle1cjeagle1 Member Posts: 3
    I just bought a 2002 Infiniti QX4 with 107000 miles on it from a Chrysler dealership. When I asked about warranties they offered me only a one year extended warranty bec. of the high mileage for over a thousand dollars. I told them such a short warranty is practically useless. I am concerned about the high cost of repairing such a vehicle. Do you guys suggest my getting an extended warranty from Infiniti or somewhere else and if you do, can you suggest alternatives.
  • mikefm58mikefm58 Member Posts: 2,882
    If you're concerned about the high cost of repairs, why would you even consider buying such a high mileage vehicle? Even if you find a company to warranty such a vehicle, it will be expensive with all kinds of fine print exclusions.
  • snakeweaselsnakeweasel Member Posts: 19,592
    Do you guys suggest my getting an extended warranty from Infiniti or somewhere else and if you do, can you suggest alternatives.

    Personally I would not go for a extended warranty. I would negotiate what I can for a free warranty to cover the car for as long as the dealership is willing to stand by what they sell. That may be 3 months or so. The high mileage means that you will pay through the nose for any extended warranty since extended warranties usually extend the original one to 100K miles. for that reason I am not sure if Infiniti would even consider selling a warranty on your car.

    Secondly non manufacturer extended warranties are not the way to go in any way shape for form.

    But lets face it, you bought a 5 year old car with 107K miles on it, as someone else said if you are worried about repair expenses why did you buy it?

    2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D

  • cjeagle1cjeagle1 Member Posts: 3
    Thanks for the comments guys. I bought the truck for $11300 which is way below what kelly book value (15-18) recommends and a fraction of what it originally sold for (almost 40000).

    I could not afford a luxury brand vehicle otherwise so I bought it inspite of the high mileage bec. of QX4's outstanding reliability record and bec. this particular model had all the options included.

    I also was able to talk to the previous owner(one owner) as well after finding a service receipt on the manual and found out that he maintained the car dutifully and had very little problems with it. All the tires, brakes and rotors had been recently replaced within the past year and the dealership did the inspection and replaced some items incl. the drive belts for what would have cost me approximately $360.

    After all that, going by the vehicle's history and reliability record I figured the chance of having a major breakdown soon was minimal and am willing to pay the cost if necessary. I am really impressed by all the luxury features in the truck and am quite happy with it.

    Nevertheless, if I could find a reasonable extended warranty
    for this vehicle esp. from the manufacturer or otherwise I would seriously consider it. But as you guys said it probably would be too expensive. It seems that the opinion here is that warranties offered by non manufacturers do not make sense. Can you enlighten me on this?
  • snakeweaselsnakeweasel Member Posts: 19,592
    It seems that the opinion here is that warranties offered by non manufacturers do not make sense. Can you enlighten me on this?

    Other warranty companies tend to not stay around long and they have a nasty little habit of not covering what you think they will cover. I would hate to have you spend over a grand on an extended warranty and 9 months later when something happens that it doesn't cover it because it only covers that if it happened when you were driving up a slight incline doing between 33 and 37 MPH at 3 PM on a sunny saturday.

    Anyways I hope you enjoy your QX4 and hope it lasts long enough for you.

    2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D

  • jimbresjimbres Member Posts: 2,025
    Buying a high-mileage vehicle has apparently saved you several thousand dollars. Now put that money into 1 of the high-yield Internet savings accounts - HSBC is currently paying 6% on new money until the end of April - & accumulate interest until you need the money to pay for repairs.
  • audia8qaudia8q Member Posts: 3,138
    It seems that the opinion here is that warranties offered by non manufacturers do not make sense. Can you enlighten me on this?

    let me add another twist....the mfg back warranty has something else working in your favor. Ultimately the mfg wants you to continue buying their cars. If they don't keep you happy and back their ext. warranty there is a good chance you won't buy their car brand again. The aftermarket warranty company knows you have little chance of ever buying their warranty again so they lack incentive to keep you happy.
  • joel0622joel0622 Member Posts: 3,299
    I won't sell anything but the Manufactures. I have been down that road with several aftermarket service plan companies and none of them delivered as promised. I spent as much time arguing with reps about coverage as I did selling the warranties. I only give a company a couple of chances to embarress me then I am done with them.

    I have worked at the same Ford Dealership for 15 years and I have never, ever had to apologize for a Ford Warranty, and as long as it is my decision we will never let the other folks back in the door.
  • ymflymfl Member Posts: 10
    Dennis, Do you know what a Fidelity ESC is or Western General?

    Thanks.
  • dwynnedwynne Member Posts: 4,018
    I don't know anything about them. I just could not see spending any money on anything other than a factory backed plan - these folks just seem to vanish leaving folks with no coverage and no money. They could be fine, but that is what folks though that purchased "Warranty Gold" thought as well.

    I would go the CPO route if possible, or just do without. It is a Toyota and you have driven it since new and I am sure properly maintained it? I think you said you only had 55k on the clock? That is hardly broken in for a Toyota :D . My old T-100 is more than double that and still runs, but does need a little work.

    Dennis
  • ymflymfl Member Posts: 10
    Thanks so much - I'm going to check out the CPO and see what happens. I'm not too worried as I have properly maintained it for the last five years.

    I'll let you know what happens.

    Thanks again.
    :)
  • pinkfloyd2000pinkfloyd2000 Member Posts: 3
    Hi,
    I got an amazing quote for Toyota extended warranty Platinum protection from outside the state of California. I called my dealer here in California to see if she can match or beat the price. But to my surprise she said if I buy the extended warranty underwritten by Toyota from outside the state of California then its not valid here. It was little hard for me to believe so wanted to get your opinion.

    Thanks
  • gasman1gasman1 Member Posts: 321
    Call or email Toyota to get the straight answer. I'm 99.9% sure that her statement is false. Let us know.
  • joel0622joel0622 Member Posts: 3,299
    Ya I would have to call BS on that one. With what you have been told that means if I move to the state of California and own a car that I bought in Ohio with a Service Contract that it would be no good. I have never heard of a manufactures Service Contract that is not good in all 50 states
  • wesrusswesruss Member Posts: 3
    That is false. I used to work at a Toyota dealership and any extended warranty that is backed by Toyota is good at any Toyota dealership in any state. I have sold cars to people who lived out of state and they got extended warranties and didn't have any problems. The dealership in CA that you called only told you that in an attempt to get your business and make you get their plan which I am sure the finance manager had marked up a good bit. That is the only thing about "backend products," the finance managers have a field day with the numbers. Good luck!
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  • larryaklarryak Member Posts: 18
    I'm having a problem getting coverage under the Subaru Extended Warranty that I purchased, I'm hoping to get some constructive feedback here.
    The extended Warranty expired in late Dec., 2005.
    The story:
    All was well until March, 2004 (odometer:40K). Then one day I turned the AC on and there was no cooling until after 15-20 minutes of driving. The-compressor-was-not-engaged (trust me on this). As it was a very intermittent problem, and because going to the dealer was a real pain, I did not bring it to the dealer's attention until mid Nov, 2005. They recharged the system and charged me $200. Since then the AC has frequently been out, but of course usually not when the dealer had it :cry:. Eventually they replaced some components (no charge) but the repairs did not work and now they say additional parts need to be replaced...expensive ones. These they want me to pay for.
    Am I unreasonable to expect this to be covered by the warranty? If so, how does one "motivate" them to take care of this?

    Larry
  • mikefm58mikefm58 Member Posts: 2,882
    If this was a year ago, then I think you'd have a good case for them to cover the repairs, but Dec 2005 was 15 mos ago. Sounds like they did do some repairs after the warranty expired at no charge. How was the A/C throughout the summer of 2006? This is a tough one.
  • mitzijmitzij Member Posts: 613
    Between March 04 and December 05, there were two summers during which your a/c would act up. You had ample time to get this fixed, regardless of how intermittant the problem was. You 'sat on your rights' as they say. Your service contract expired in Dec 05. There is no leeway with service contracts. If it expires on 3/4/07 and your whatsit craps out on 3/5/07, too bad. At this point, a year and a half after the contract is expired, the service contract company owes you zippo. The dealer doesn't actually have a dog in this fight, you're lucky they replaced some parts at no charge in an effort to help. They've just decided the gravy train has ended.
  • snakeweaselsnakeweasel Member Posts: 19,592
    Am I unreasonable to expect this to be covered by the warranty?

    Since it was unreasonable for you to take this into the dealership until 20 months have passed AND it has been over a year since thing I would say yes it is unreasonable.

    If you want them to be motivated to fix a problem you also have to be motivated.

    Somehow I have a feeling we don't have the whole story here.

    2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D

  • dwynnedwynne Member Posts: 4,018
    Am I unreasonable to expect this to be covered by the warranty?

    Yes.

    Normally, if you bring something to the dealer's attention before the warranty runs out then they can start fixing it under warranty and may have to continue the fix after the warranty expires - and you still pay nothing.

    In your case, because it was intermittent and because "going to the dealer was a real pain" you waited a year and a half to REPORT the problem giving them little time to find and solve it. I could see them continuing to work on an intermittent problem for a bit after your reported it and the warranty expired, but the warranty was up 15 months ago so to ask them to STILL be treating this as the same problem is indeed, unreasonable.

    Dennis
  • mitzijmitzij Member Posts: 613
    This was an Service Contract that expired in Dec 05. There is no way to get a service contract to pay for anything after the contract expires. Factory warranty-yes, the dealer will be able to get claims paid after the warranty expires, to a reasonable limit.
    Yet another reason to not call service contracts 'warranties'. They're different critters.
  • paisanpaisan Member Posts: 21,181
    I believe it was the factory extended warranty.

    -mike
  • mitzijmitzij Member Posts: 613
    It works the same-it's still a service contract, not a warranty. On a service contract-the end is the end. On a warranty-the end is often negotiable.
  • paisanpaisan Member Posts: 21,181
    hmm so you mean that the end of my factory warranty is negotiable? I highly doubt that!

    -mike
  • dwynnedwynne Member Posts: 4,018
    I think even a service contract (AKA extended warranty) can cover items reported while still in effect but not repaired while the contract is in force. For sure with a factory backed plan.

    You have a hit or miss problem, the dealer (while plan in effect) says "I think this should fix it". It does not, shouldn't the plan cover the REAL repair for a problem that was reported prior to the contract expiration? I would think so, with some limits. Dec 2005 to April 2007? No way :D

    Dennis
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