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Maintenance or Service Warranty? or Both?
Hey everyone, so I bought the extended warranties for my frs but I am on the edge of canceling it. The main reason why is because the amount of months we have to pay it off is past 70 months which is long for both my parents and I. My question is should I cancel both or keep one? What is the standard warranty on all scion frs? And also with everyone having CEL, is it better to keep extended service warranty over maintenance warranty? And I have one problem with the pricing of what we were charged. According to scion site, the 7 year 75000 No Deductible Service Agreement is $1225. On my papers, it said I paid $2495. Also, my maintainance warranty is also about $1000 raise from what scion posted on there site. Can't I go back to the dealer and bring up scion pure pricing? Thanks everyone!
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You could accomplish the same thing by taking the money that you would pay for the warranty and put it into an interest gaining bank acct. The catch is that you might have more cost if something big breaks on the car vs what's in the acct. You might not have bought the Scion Warranty. It could be an aftermarket extended warranty. I bought an aftermarket extended warranty to cover my generic length of ownership becuase they make sense to me as far as cheap insurance. The maintenance plan could also be an aftermarket product. I bought the Subaru maintenance plan because it will save me money as I do all of my normal service at the dealer. Many will tell you that these are the most evil things on the planet and they are pure profit for the dealer. These are the same guys that haven't had an OEM head unit/NAV, HVAC, other electricals break on them and have it covered under warranty. Extended Warranty and Maintenance Plans are only as good as their coverage, cost and reasons. If you can't justify them, don't sign up. |
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If they won't play nice, you can cancel their plans and sign up with another dealer. The only real benefits to the aftermarket versions for me is coverage (Any shop), ease of function and loaner cars. But this will change store to store and plan to plan. |
It seems to me that if they charged you more for the scion maintenance plan and scion extended warranty than what was authorized then they have some explaining to do. The maintenance plan is not a dealership specific plan it is something that is offered by Toyota/Scion. So you can go to any dealership and get your maintenance performed.
My subaru came with free maintenance plan so i didnt pay for it. That was a dealer option (to help sell the car they took the hit of the cost of the maintenance plan) in hopes to sell the car. They did offer an extended maintenance plan which i declined. For my warranty it came standard with the 3 yr 36k mile known as the Factory Warranty (i think thats the correct numbers) and the option to purchase extended warranty (which i also declined). |
Thanks for the info guys! I feel that with all the CEL issues and electrical problems on the forum I'll probably lean towards just canceling the extended maintenance warranty but still have a lot of thinking to do. I don't know if this is true because the dealer told me this but if I don't use the warranty before the ending period of 7 years they give me difference back to me. Is that true? And how does it work?
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Extended Warranty - Covers all things mechanical, electrical, etc for unforseen failures. Extended Maintenance - Covers all of your dealer services like oil/fluid changes, tire rotations, fuel system cleanings, etc. Yes, you will be refunded any difference of the unused extensions. But if you wait the full 7 years there won't be much left to refund. |
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I might look at it a little differently than most. If something makes it thru enfancy it's a likelihood there is nothing wrong with what ever that something might be. If it is a faulty part it will show its faults early on. In that case we have the factory warranty. To me the biggest factor to consider is how the equipment is treated and how well it's maintained. I have never bought an extended anything on any vehicle or appliance I've ever purchased and I haven't yet regretted it one time. I've been purchasing cars since 1952 which was a long time before there ever were any extended warranties. As far as I'm concerned they fall into the category of snake oil. I feel the same about extended maintenance contracts. If they weren't making money off of the customer they wouldn't be selling it.
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It's just like car sales. They will try to make as much profit as possible. You can negotiate the cost of these products just the same as the car itself. Many will say "oh poo on you Mr Dealer for trying to make money!! You suck!!" But they would never think to say something like that with any other retail business that doesn't disclose the amount of profit they made on you for clothes, food, etc.. We're just like any other business trying to make a profit. Good luck and let us know how things turn out. |
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You are one of the lucky few that I speak of. But just because you haven't found a need for them doesn't make them useless to the masses. Extended Warranty = The cheapest insurance money can buy. I see these in action everyday and can say that there are cutomers that get good use of them. Like I said earlier, you can also take the money that you would spend on the Warranty and put it into a bank account. If you never used it, it's still there. Extended Maintenance = Cheap service plans. These are only good if you anticipate using a dealer exclusively for all of your services. Does this make profit? Yes. Will it also save you money in the long run? Yes. Calling these snake oil is the same as saying health insurance is snake oil. Well I never get sick, so I don't need any snake oil health insurance. Well I'm never gonna die, so I don't need any snake oil life insurance. |
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Thank You for understanding my stance. It is a fairly strong analogy but it does hold true to some degree. I used to be just like you. I called every car dealer a "stealership" and wouldn't sign up with anything, ever. I hated there service costs, etc, etc.. But even before working for a good and reputable dealer my opinions have changed. I've also seen these products function in the real world working here. Are these products meant for everyone? No. Are they worth the cost of entry? Not always. Do they function as they are described to? yes. Can they save you time, money, added expenses? Yes. Should the dealer be allowed to make profit? Yes, if you want to see them still there in a few years when your ready to trade-in. |
I have very similar question as OP (sorry about jacking up your thread)
I signed up that Subaru's extended warranty as well but i think i don't need it but i already signed paper when i purchased my car. i am still allowed to cancel it? I bought it in January |
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The only thing that happens is the Finance Mgr will lose what ever commission they might have recieved and they'll have to do some extra paperwork. Buyers remorse happens all the time and is understandable. |
Within 30 or 60 days I know Toyota is 60 days. You can cancel and get back full after the 60 days its pro-rated. However getting the money back is different from each individual's experience. I was doing this through a phone call at Toyota Financial. The money would go straight to paying off the car.
I paid 1460 for 7/75k miles $0 deductible. I believe this warranty is the same coverage as the warranty that comes with the car. I hope I read it right. I'm in the same boat thinking either to cancel or not cancel. Being the first model car. I plan to keep it over 3 years. It will be my first owned car. I read boxer engines are like frankenstein machines from various different subaru owners. The car already has problems but minor I.E tail light condensation. Chirping and there hasn't been a way to fix it. Some say it's the direct injention experience. The rev on tachometer that goes up and down on some of the vehicles. The only problem I have so far is the taillight condensation. My odometer is 1400ish. I had the car since Dec 27. I had a rear-end accident by a semi-trunk. Replaced bumper and a lock mechanism of the trunk. The mods I'm doing to the car is wheels/Tires/BBK. Later down in the line I'll mod just not yet. I'm leaning towards keeping it for the peace of mind. Knowing theres something you can lean on. It may be a loss or it may be a win. It's Las Vegas... I still got a few days to think about it. |
I cancelled mine like 3 weeks after buying the car. 3 times I had to call to have them tell me I need to fax over a confirmation which I did. Finally I called again and they are having me mail something to them to cancel. Really make it a process to cancel the damn thing.
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Scion in Canada offers 2 levels for their warranty plan.
A gold plan and a platinum, and the platinum is more money of course. I bet online you maybe looking at the gold plan while they sold you the platinum. Not sure of the differences between the plans though. Ask your dealer for details and maybe if you have platinum you could drop it to the gold, and get rid of the maintenance services to save some money. |
my subaru dealer's service contract shows as "Fidelity Warranty Service Inc" (FWS).
anyone have this like me? also i read FWS's term and it says 100% back within 30 days. refund 100% after 30 days but within 60 days, less adminstration fee by FWS and retain fee of $50. how much admistration fee would be??? |
I kept thinking about it and decided to just keep it just in case for future. i can just reverse back to OEM parts if i need warranty work. all maintanance i perform, i will record everything with receipt.
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Buying any kind of warranty from a dealer is plain stupid. Nobody can logically argue against that. Try. ;)
Two things to do if you really think you need this "cheap insurance" as someone mentioned. Buy the warranty from a Credit Union if you are a member. If you aren't, become a member and get your loan moved over if it's the same or lower interest rate. If you can't do that, buy the warranty directly from Subaru for the listed price. I've had extended warranties. Bought a used Town & Country, knew it would need something, it never did, warranty was $480 or so through my CU. Bought one on my new Celica back in 01 from my CU, after a week figured it was not needed, canceled it, that was my first new car purchase. 75 thousand miles later it was stolen and totaled but never had any issues a warranty would cover. I think that one was around $800. Didn't buy one on my 06 MegaCab even though it's a Dodge :) and actually had a $780 repair done to it 2 days after the factory warranty expired. A few calls to Dodge and they covered it. Since then, a few years now, no issues have come up. Got a '96 Dodge, just passed 150k, no issues. Didn't get one with the BRZ or the wifes new stang either. If you do your research, you'll get a real good idea on what cars might need one. Toyo and Subi aren't in that list. Sure there are always exceptions, it's a bit like gambling, but you've got real good odds you won't need one. Vehicles these days will, as a rule, have failures well before factory warranties wear out. 15-20 years ago this wasn't the case. But I've owned three Chryslers, if those don't need a warranty, nothing Japanese does! :) Cancel anything warranty related you got at the dealer, then do one of the two suggestions above. You are obviously young and could use the extra cash on something else. Oh yeah, NEVER EVER EVER EVER EVER roll taxes, title, add-ons, or anything else into a loan. Ok 0% loans are fine. Unless you like paying double what you think those items will cost. Did I mention not to buy anything from a dealer except the damn car? Edit: Don't buy the warranties you see on TV. That's evil kind of bad right there. |
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wish me good luck on getting all my $$ back |
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Also, something I forgot to mention, once your car's normal warranty is about to expire, you'll start getting stuff in the mail from the manufacturer (and others unfortunately) with discounted pricing. My Dodge probably saw over a dozen offers, half from Chrysler a few months before the factory warranty was up. They were all 7 year 100,000 miles ones for only a few hundred more than the CU had offered me, years later no less! |
I sprung for the 7yr comprehensive factory warranty from Subaru. The pricing was 1,200-1,400... I don't have my papers available. I chose it for the peace of mind that I could cancel it, transfer it, or sell it depending on what happens with my BRZ. I am a Subaru kind of guy and I plan on driving it for the enjoyment of the machine. If there are all these issues out there with the car then I feel protected --the interrupted trip allowance and 24-hour roadside are handy if something goes wrong.
I feel like there are very good arguments/points being made for both having the extended warranty and not having it. The big factor for having it seems to be making sure you get a good price. The big factor for not having it seems to be having the money to take care of problems yourself. I feel like I will get what I paid for if anything comes up after the basic factory warranty expires. If I saved the money for those two years and something came up then I could PROBABLY afford to deal with it but that would require that interest-gaining bank account that you don't touch. I am not the kind of person who could do that so I went with a protection that I would be able to manage. In the case that these first model-year cars end up being too much trouble to keep on the road then I will trade-in for a WRX or something and keep my warranty/use it towards the cost of the new car. I understand that there are a lot of people with a lot of experience with these things that can see many details and angles that I don't. What it comes down to is that no one will sit down and make sure that everyone here has the best possible deal/coverage/protection/savings because we all have to do the work ourselves-- Don't get me wrong, if you want to look at all my numbers and call all the right people so that I save a bunch of money and am protected then give me a PM! It is great to see so many people looking out for eachother on this issue. I hope that I don't go bankrupt due to buying the warranty and I hope that none of you without it get screwed. "To each their own and the best to all" is what I say. Cheers, Nate |
I cancelled at dealership on 3/2 and financial manager said it will take about 4 weeks. I still don't see credit on my loan yet. i will give them a call after 3/30 which is exact 4 weeks that i cancelled. I will keep you guys posted.
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