Just mailed letters to cancel my extended warranty and add-ons.

[fistpoint]

You folks know that story about getting a lower APR if you do this or that is a complete lie don't you?

You get approved at whatever rate based on your credit score, that's all. If the dealer offers 1.9% as a special and your credit is the highest it can be, there is no reason why you wouldn't qualify for it. If they offer 1.9% and you get pre-approved at 3.0% at your bank of choice, they'll offer to beat it and come back with 2.9% for example without telling you that you actually qualified for the lowest 1.9%. That's when the bullshit about buying extra garbage comes in.

Originally Posted by Jfheisenberg

Now looking over at the contract, i'll be paying 47$ extras per month for 72 months, thats $3384!.. Im not sure if i did the right move with the warranty, subarus are pretty reliable.

Can i still remove the warrantly from my contract and go back to my initial $430 payment? would the dealer let me??

Thanks

Come on now, even if you rounded down to $40 and multiplied by 10 then again by 7, a child could do this and see the warranty was going to be over $3000. Or, why didn't you pull out your phone and use the calculator?

Yes, of course you can cancel it. That's what this entire thread has been talking about since the start of it.
.
.
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Anytime someone buys anything expensive they should know exactly what it's going to cost them before they even set foot out the door of their home. You check insurance rates too, so you don't find out after you bought the car that the insurance is going to be equal to the monthly car note. You also research tire size and replacement costs. You plan ahead, not after.

[tennisfreak]

Originally Posted by PhantomX

The reason my dealership's front end delves a bit into that is because some of the customers are concerned about their monthly payments. For example, with a pre-approval of 3.49% and the price of an FR-S at $28k, payments would be around $500 a month with $0 down. To some people, that's shocking to know, but the banks will never really tell you that because they just say, "approved for 100% MSRP" or some other vague statement.

I completely understand and see your side of the story and that approach does work for lots of customers shopping for cars especially the one who are really shopping for something they can't (or can barely afford).


But as someone who has had family members in dealerships I learned the sales man payment questions is the first and best trick in the book. Telling the sales man what you want your payment to be is often how they make their most money as they will find a way to get your payment to you.


I have been taught to know what you are buying is worth, know you can afford what you are buying, and negotiate price not payment as that is secondary.

[pantdino]

Originally Posted by IDFWU 420

Best of luck. Yeah, fuck the finance guy, all he's doing is trying to make comission off you. When the finance guy was rewriting my contract, you can tell he had a mad frown while I told him to take that shit off.

Huntington Beach Toyota was dishonest with me, too, in various ways.

And when I told the finance guy I wasn't going to buy the extended warranty his friendly, talkative demeanor suddenly changed to the opposite.


Don't trust anything a dealer or finance person tells you. Unless it's in writing its meaningless.


According to Consumer Reports less than 10% of the money you pay for warranties is actually set aside for payouts / repairs. The rest is all profit for the various companies.

[loading_please_wait]

This has been a great discussion thread.

I wanted to give you all an update


1) Gap is cancelled - $800, getting it through my auto insurance.

2) Extended warranty, 7yr/100k - $2631 - cancellation is sitting in que per customer service rep, I sent my cancellation letter via email and snail mail to the administrator.

3) Dent Protection Warranty - $439 - cancellation is processing. The customer service rep told me to call back in a few hours to check on it.

4) Tire and Wheel Road Hazard - $429 - Cancellation sent to administrator who did their part then forwarded the paperwork to the dealer.... dealer said they lost the paperwork and said my handwritten letter didn't say 'I want to cancel.' I mean come on, really? Funny thing, I made copies of my letter for this warranty it says, "I would like to cancel my agreement" I'm faxing another handwritten copy to the administrator with 'I want to cancel...' three times. I think something screwy is going on here.

5) Tire/Oil Rotation Warranty - $390 - customer service rep I called states that I need to cancel this one at the dealership.

[Wilso]

Originally Posted by KNS

This is how you respond to Finance guys:

No
No,
Thank you, no
Don't need that
Don't want that
Why would anyone buy that..?
Not necessary
I said NO - can we wrap this up?

LOL

[Gmo]

Sorry to raise this from the dead, but I am going through the same thing. Got my '13 BRZ last Monday. They hit me with all the warranties, GAP and other stuff. I had the maintenance and service warranty which was $4525 total, the GAP was $695, originally. They had to fix the loan and my payment went down, but I have less coverage and noticed the GAP went up to $995. I asked him to remove it because I didn't need it and he said "I have to leave it as is because it's the end of the month and this is what the bank wants to keep their assets safe." The guy told me to cancel the GAP in 90 days. I'm calling in to cancel next week.

[root]

Just as input into potential costs, my 2013 FR-S major cost incurred so far has been clutch throwout bearing. My dealership told me not under drivetrain warranty. There's been couple other known issues that were never taken care of by dealer, I wasn't a pain in butt enough to them, I hate dealing with that.
Tires finally changed, the stock tires are expensive! I replaced with pretty much the best performance summer tires out right now and they were almost same cost!
There's rust spots appearing, the roof one is the most worrisome. Need to get estimate on that. Other is in the fuel filler well, other is front crossbar in engine bay. That one I think is a seperate piece, not part of body.
So would some kind of protection plan been worth it? Prob not.
Man though, the past four weeks I've been almost T-boned three times! The Tacoma towing a boat that started running red light would have done a number on me. That would have made insurance payout. Although when I think about it, its been 30 years with only one payout for me.
So usually its not worth it to get these plans as long as you keep some money in reserve for handling such events.

[Yardjass]

I just had to comment about the dealership finance people real quick. Most of those guys are weasels and I have a pretty short fuse with them anymore.


I went to turn in my TDI last week and the dude tried to get me to re-fi the 2% rate on my used FR-S. I told him to get f***ed because of the last jerk there who hassled me about re-fi until I finally sat down. He ended up trying to add on warranties and stuff without telling me, I wasted my time and left with the same loan that I had, and they forgot to give back my license, and then took over a year to mail it back to me. Say no to every single extra that the dealership offers. The only thing worth it is line-x on trucks and 3m clear bras but even those can be had cheaper somewhere else.

[Tcoat]

Originally Posted by Gmo

Sorry to raise this from the dead, but I am going through the same thing. Got my '13 BRZ last Monday. They hit me with all the warranties, GAP and other stuff. I had the maintenance and service warranty which was $4525 total, the GAP was $695, originally. They had to fix the loan and my payment went down, but I have less coverage and noticed the GAP went up to $995. I asked him to remove it because I didn't need it and he said "I have to leave it as is because it's the end of the month and this is what the bank wants to keep their assets safe." The guy told me to cancel the GAP in 90 days. I'm calling in to cancel next week.

Not sure how upside down you could be on a loan on a used car but if you are then the Gap insurance is a good investment. There are many guys on here that totaled their car and ended up taking a financial shit kicking because they owed way more than it's value but felt that Gap was a waste of money. They ended up paying five or six times what the Gap insurance would have been to replace their cars. I specifically asked for Gap since I traded in a 2 year old car that I hated beyond belief (long story) so was way out of car value vs loan amount. With the Gap insurance in place if I total my car I will not be out of pocket for a single cent. Look at things closly to make sure you are making the right call before cancelling it.

Originally Posted by Yardjass

I just had to comment about the dealership finance people real quick. Most of those guys are weasels and I have a pretty short fuse with them anymore.


I went to turn in my TDI last week and the dude tried to get me to re-fi the 2% rate on my used FR-S. I told him to get f***ed because of the last jerk there who hassled me about re-fi until I finally sat down. He ended up trying to add on warranties and stuff without telling me, I wasted my time and left with the same loan that I had, and they forgot to give back my license, and then took over a year to mail it back to me. Say no to every single extra that the dealership offers. The only thing worth it is line-x on trucks and 3m clear bras but even those can be had cheaper somewhere else.

They are just doing their job which is to try to sell you more items. Many people actually want those items that is why they have them. Ya they should be up front about it so I will give you the anger over the hidden ones but if above board and honest they are not "weasels" any more that you are when you do your job (whatever that may be). To paint them all with the same brush is unrealistic.

[userjack6880]

Add to the raising of a dead thread - a few months ago I had Toyota cancel the extended maintenance plan I was sold when I got the car back in 2013 after being treated like shit by the only dealership within a reasonable distance. I normally work on my own vehicles, and after the experience I got, I said "fuck it" and went back to that policy of mine.

That said, GAP is a good investment, and back in 2013, an extended warranty on a relatively unknown vehicle with possible random problems (which, fortunately, mine did not have). The maintenance plan is pointless if you're gonna do it yourself anyways. Plus, you'll save yourself some time and money.

[Tcoat]

Originally Posted by userjack6880

Add to the raising of a dead thread - a few months ago I had Toyota cancel the extended maintenance plan I was sold when I got the car back in 2013 after being treated like shit by the only dealership within a reasonable distance. I normally work on my own vehicles, and after the experience I got, I said "fuck it" and went back to that policy of mine.

That said, GAP is a good investment, and back in 2013, an extended warranty on a relatively unknown vehicle with possible random problems (which, fortunately, mine did not have). The maintenance plan is pointless if you're gonna do it yourself anyways. Plus, you'll save yourself some time and money.

And as you sort of insinuated you need to watch exactly what the extended plan covers and if it is an actual Toyota/Subaru or third party plan. Some don't cover much once you start to dig through the fine print.

[Legionsk88]

All this is really making me rethink my extended warranty as well.....

[Gmo]

I am not upside down at all. This is the first car I will be financing. I am getting GAP but through my insurance. The financial manager said I HAD to get the GAP and extended warranty or the loan would fall through. When I asked him why the GAP price went from $850 to $995 he avoided the question and said I could cancel in 90 days. I work in sales so I know this is BS, and the contract states it is optional, so Toyota corporate is getting a letter about how he blatantly lied to my face and said I had to sign under those conditions or I would not get the car.

Originally Posted by Tcoat

Not sure how upside down you could be on a loan on a used car but if you are then the Gap insurance is a good investment. There are many guys on here that totaled their car and ended up taking a financial shit kicking because they owed way more than it's value but felt that Gap was a waste of money. They ended up paying five or six times what the Gap insurance would have been to replace their cars. I specifically asked for Gap since I traded in a 2 year old car that I hated beyond belief (long story) so was way out of car value vs loan amount. With the Gap insurance in place if I total my car I will not be out of pocket for a single cent. Look at things closly to make sure you are making the right call before cancelling it.


They are just doing their job which is to try to sell you more items. Many people actually want those items that is why they have them. Ya they should be up front about it so I will give you the anger over the hidden ones but if above board and honest they are not "weasels" any more that you are when you do your job (whatever that may be). To paint them all with the same brush is unrealistic.

[Yardjass]

Originally Posted by Gmo

I am not upside down at all. This is the first car I will be financing. I am getting GAP but through my insurance. The financial manager said I HAD to get the GAP and extended warranty or the loan would fall through. When I asked him why the GAP price went from $850 to $995 he avoided the question and said I could cancel in 90 days. I work in sales so I know this is BS, and the contract states it is optional, so Toyota corporate is getting a letter about how he blatantly lied to my face and said I had to sign under those conditions or I would not get the car.

Good. Hold them accountable. I think I'm safe now but as soon as I get my TDI buyback check, my ties with them will be completely severed and I'll be writing one to VW corporate about the experience I had as well. I had a very positive experience at that dealership buying the car but I will never buy another one from them again because of what the finance guy tried to pull. The funny thing is he flagged me down and all I was doing was picking the thing up from service. Had they just left me get my car, I'd still probably have a favorable opinion of them.