Quote:
Originally Posted by suaveflooder
I origionally got a warranty through my bank. It wasn't too expensive and was basically bumper to bumper up to 100k miles.
I got the paperwork home and read the fine print. Basically NO mods were allowed on the car whatsoever. Lowering springs voided the ENTIRE warranty, changing tires sizes also did the same. I called the bank the next day and canceled it.
If it is truely $30 a year, then I agree its not big deal. Like I mentioned, chances are most/all the major problems will be worked out by the time you hit 6 years (if you are only driving 10k miles a year). Something else you need to factor in is cost of actual warranty. If it's non-transferable, it won't help you in the sale of a car (there are many transferable warranties out there to choose from that will greatly help in the sale of a car). At that point it is just an extra cost. My dealer charges $98 for an oil change (including tax), basically double what the actual cost of the oil is for me to purchase.
If you roll the warranty over into the loan, Toyota is making money off the the service, and the warranty as well (interest), so it's a win, win for them. Just make sure it's the same for you.
Sorry for all the rambling, I just get weary when a bank or a finance department is trying to "help" me.
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Yeah, I'm at least not paying anything for it, as apparently my dealership gives it out free with every car they sell (which means they obviously think they are making a profit off of the extra service, to compensate for the warranty company). If we're really talking about close to $100 for an oil change, that's pretty steep. I guess I'll have to see exactly how much it is, and see if they're using high quality oil and the correct filter.
They played it off as being nice to their customers, but really it seems like a trick to scare me into getting all my oil changes and maintenance done there, and getting it done at a shorter interval than SoA recommends. There's some unnerving wording in it too, about it specifically covering the block, pistons, crankshaft, camshaft, connecting rods, etc. and not extending to wear items or anything not explicitly listed, so I'm not even sure if the DI ring would be covered, and there's more wording about it not covering the components it does cover if the failure was caused by a problem with a non-covered component (i.e. if a headgasket blew and it messed up a piston, they wouldn't cover it). Seems shady. Thanks for the input. I'm going to do my first oil change there anyway just to see if they treat me well, give me a fair price, and use the right parts, but I'll probably just walk away from the warranty if they jerk me around or rip me off. I usually don't change my own oil but it seems real easy with the FA20 oil filter placement.