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

[PhantomX]

Originally Posted by TheVoiceOfReason

These things will continue to happen as long as people out there still fall for what the salespeople tell them (sorry, but that is forever probably). Everyone in this thread is smart enough to see why these extended warranties and such are not good for the customer, even if it wasn't while in the dealership. A "good" salesperson makes people believe they are getting a deal whether they are or not. If they didn't they wouldn't make as many sales, and wouldn't be "good." It makes more money, so they wont be held accountable for it. Most people drive off the lot, start paying their payment, and don't think twice about the extras they were talked in to in the price.

In my dealership, the warranties and "add-ons" are actually done by the finance side. The sales consultants have no stake on that area. We can only offer what we think will benefit the customer, such as extended maintenance, gap, rust proofing, etc. Whether or not the customer purchases them doesn't impact the sales consultants' income.

It may be different in some other dealerships. I know it's completely different with third party car sales establishments.

Originally Posted by TheVoiceOfReason

I also got the idea that the people at the dealership I went to didn't actually know all of the details about what they were trying to sell me anyway. They told me that VSC sport would hold my car flatter in the corners. So, they may not be able to be upfront with you if they don't actually know what they are talking about in the first place.

This is sad, but true. Again, at my dealership, they train us to be honest and tell the customer we don't know if we truly don't know. Unfortunately, I've learned that most of the sales consultants I work with either don't know the Scion process for sales or ignores it, possibly due to the fact that they don't believe in it, let alone the brand. (ie: "We don't have the specific one you're looking for, but here's an alternative." instead of "We don't have the specific one you're looking for, so let's order you exactly what you want.") They don't realize what they're doing is actually the majority of the reason Scion is a dying brand.

[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?

[FirestormFRS]

Originally Posted by loading_please_wait

So I picked up my 2015 FR-S a week ago, January 24, 2015 in one of my favorite colors, red. I have been thoroughly enjoying it.


I'm currently shopping around for reasonably priced extended warranties, hoping to pick one up before the 36k/3yr warranty expires and/or simply deposit the money I would spend for a warranty into savings or a good interest bearing account.

Buy the Toyota extended warranty if you must buy one. Factory extended warranties are negotiable on price and Toyota isn't going anywhere.

There is no such thing as a good interest bearing account at this time. Buy rubles and wait on them to go back up in a year.

[tennisfreak]

Lesson learned. I learned this lesson too when I was younger.

Now I go into finance with an unannounced credit preapproval (dont let anyone know you have it until you walk into finance, surprise is the best approach as they dont have time to try and screw you another way) and immediately tell the finance guy I'm not buying shit and hes going to waste his breath then pull out my phone and start playing games on it until he shuts up.

I've found that there is no way to get a finance guy to completely shut the hell up but the quickest way to get his real attention is to slap down the pre approved credit letter from a bank.

He will immediately practically panic and do whatever it takes to beat the APR on that letter so you will finance with him. Otherwise he loses everything and makes no $$$.

I will stress and repeat this one last time PRE APPROVED FINANCE LETTER is the ultimate bargaining chip when dealing with finance guys.

They will do all kinds of crazy shit to get you to finance with them. My FR-S came with free maintenance but when I pulled this on my wifes Lexus I got them to give me free window tint, lug locks, cargo mats and nets, and to soundly beat the APR on my letter.

[Jfheisenberg]

I have a similar situation. I got my BRZ this past friday. My original monthly rate was 433 per month for 72 months at 2.9%APR. When i was singing contracts, the financial manager ask me if i wanted to get a extended warranty. The warranty covered for 6 years, also cover rims and tires. The price he gave me was 477 per month for 72 month and being the BRZ my first new car i bought, i took it.

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

[Celadrielas]

How are you guys paying so much!? my payments are $289/mo @ 72mo (62 remaining) and 2.69% interest. I paid $800 for ALL of my add-ons (Gap, 7yr/100k warranty, dent & paint, ect) total and that's just what you guys are quoting for GAP.

Car is mine and total "out the door" cost was $21,151 at time of purchase.

[Jfheisenberg]

Originally Posted by Celadrielas

How are you guys paying so much!? my payments are $289/mo @ 72mo (62 remaining) and 2.69% interest. I paid $800 for ALL of my add-ons (Gap, 7yr/100k warranty, dent & paint, ect) total and that's just what you guys are quoting for GAP.

Car is mine and total "out the door" cost was $21,151 at time of purchase.

Mine was about 31K with nj taxes/registration. Price for the car only was 28.5k

[Celadrielas]

Originally Posted by Jfheisenberg

Mine was about 31K with nj taxes/registration. Price for the car only was 28.5k

That made me cringe until I saw you have a series.blue.
I have a "base" no monogram, 10series, series blue, no RS1.0... Just me, the Asphalt car, and the Asphalt I driver her on.

[tahdizzle]

Originally Posted by Celadrielas

That made me cringe until I saw you have a series.blue.
I have a "base" no monogram, 10series, series blue, no RS1.0... Just me, the Asphalt car, and the Asphalt I driver her on.

Did you buy used? or are you saying that Toyota/Scion sold you a car @ 7k under msrp?

[Celadrielas]

Originally Posted by tahdizzle

Did you buy used? or are you saying that Toyota/Scion sold you a car @ 7k under msrp?

"used" with 2300 miles on the clock when I bought it. I bought begining of march (03/06/14) and bought a 2013. But I still haggled and talked them down from the 25,500 they wanted, and haggled down the cost of the GAP and extended warranty and services.

[tahdizzle]

Originally Posted by Celadrielas

"used" with 2300 miles on the clock when I bought it. I bought begining of march (03/06/14) and bought a 2013. But I still haggled and talked them down from the 25,500 they wanted, and haggled down the cost of the GAP and extended warranty and services.

Well its kind of apples and oranges. Since with pure pricing and new vehicles is a totally different negotiation.

But thanks for your contribution.

[PhantomX]

Originally Posted by tennisfreak

Lesson learned. I learned this lesson too when I was younger.

Now I go into finance with an unannounced credit preapproval (dont let anyone know you have it until you walk into finance, surprise is the best approach as they dont have time to try and screw you another way) and immediately tell the finance guy I'm not buying shit and hes going to waste his breath then pull out my phone and start playing games on it until he shuts up.

I've found that there is no way to get a finance guy to completely shut the hell up but the quickest way to get his real attention is to slap down the pre approved credit letter from a bank.

He will immediately practically panic and do whatever it takes to beat the APR on that letter so you will finance with him. Otherwise he loses everything and makes no $$$.

I will stress and repeat this one last time PRE APPROVED FINANCE LETTER is the ultimate bargaining chip when dealing with finance guys.

They will do all kinds of crazy shit to get you to finance with them. My FR-S came with free maintenance but when I pulled this on my wifes Lexus I got them to give me free window tint, lug locks, cargo mats and nets, and to soundly beat the APR on my letter.

The finance department can care less if you have a pre-approval or not. It takes a quick phone call to your bank to tell them you were also getting warranty and other add-ons. In my dealership, all you're doing is wasting everyone's time, including your own, not informing us you have a pre-approval. Why? Well, the front end (sales) has paperwork to fill out to submit to financing. One of those paperworks is a credit app and/or a pre-approval letter. Hiding the fact you're already pre-approved only gave you 15-45 minutes to twiddle your thumbs (play games on your phone in your case) and wait until finance is ready for you because they're busy calling banks to get you the best rate, then another 15 minutes wasted for them to redo the paperwork right in front of you. It doesn't prevent them to try and sell you warranty and other add-ons.

[tennisfreak]

Originally Posted by PhantomX

The finance department can care less if you have a pre-approval or not. It takes a quick phone call to your bank to tell them you were also getting warranty and other add-ons. In my dealership, all you're doing is wasting everyone's time, including your own, not informing us you have a pre-approval. Why? Well, the front end (sales) has paperwork to fill out to submit to financing. One of those paperworks is a credit app and/or a pre-approval letter. Hiding the fact you're already pre-approved only gave you 15-45 minutes to twiddle your thumbs (play games on your phone in your case) and wait until finance is ready for you because they're busy calling banks to get you the best rate, then another 15 minutes wasted for them to redo the paperwork right in front of you. It doesn't prevent them to try and sell you warranty and other add-ons.

Guess every dealership is different then.

My last 3 sales have never forced me to get pre approval from front end sales.
Front end sales has jack to do with financing. Sure they want to get that info so they can try and work you over but they DO NOT HAVE TO HAVE IT.
I always tell front end I am here to negotiate the price of the vehicle and nothing else.

Also I've not experienced finance having to "call banks" in years. In fact they put my info in on their computer screen and have instant results.
How do I know?
Cause I've had them show me actual the screen with the rates and banks displayed.

But this is my experience, others mileage may vary. It also helps to know how a dealership really works and know when you are getting a line of bs.

[PhantomX]

Originally Posted by tennisfreak

Guess every dealership is different then.

My last 3 sales have never forced me to get pre approval from front end sales.
Front end sales has jack to do with financing. Sure they want to get that info so they can try and work you over but they DO NOT HAVE TO HAVE IT.
I always tell front end I am here to negotiate the price of the vehicle and nothing else.

Also I've not experienced finance having to "call banks" in years. In fact they put my info in on their computer screen and have instant results.
How do I know?
Cause I've had them show me actual the screen with the rates and banks displayed.

But this is my experience, others mileage may vary. It also helps to know how a dealership really works and know when you are getting a line of bs.

Interesting. Based on what you've written, it sounds like your dealership just submits to TFS (Toyota Financial Services) and nowhere else, which is all digital. Mine works with local banks and out of state banks. They make calls (and I have sat there and watched our finance guys do it) to push the bank reps into giving our customers better rates if the rates the banks are giving are higher than what we had offered to shoot for at the front end.

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. We'd rather be transparent and show the customers what kind of payments they'd be looking at in the front end, whether or not they have a pre-approval, before wasting anyone's time to get them to the back end. I won't even delve into what the customer may think if, with the lack of transparency from them about the pre-approval, the interest rate we offer is either higher or lower than their pre-approval. So, at least for my dealership, hiding the fact you have a pre-approval just hinders the process we created to streamline your purchasing experience.

One page my dealership learned from Scion and implemented for all our customers' purchase experience is this. Scion trains us to make the purchasing experience as quick and easy as possible. That's what the Pure Pricing and Pure Process is all about. No games, no lack of transparency from our side, no hassle.

"This is the build you want? You like the price you see at time of build? Are you paying in full or financing? Financing? Okay. Are you comfortable with the payments? Please sign this build form, this form that I showed you about the cost with DMV fees and the payments you're looking at on this vehicle, accessories form, and extended warranty/maintenance form, saying you don't want any further things from these lists, and we'll get it ordered."

"Here's your build. Everything still good, numbers look good, etc? Awesome. We'll just fill out some forms real quick, then get you through financing. Just FYI, our finance guys will go over the availability of the extended warranty/maintenance with you to ensure you are satisfied with your choices."

You certainly wouldn't want your time wasted and we feel the same way. Not only do we test drive with you, go through the numbers with you (which may take a bit to problem solve our way into reaching the numbers you'd be comfortable with), but we also run around, setting your radio stations, gassing up (full tank) your newly purchased vehicle and having it detailed to near-showroom quality while you're in finance, but we spend another 15-45 minutes (depends on how quick of a learner you are and how familiar you already are with our vehicles) after you get out of finance to show you every little thing about your car, including connecting your phone to the head unit via bluetooth and helping you download Aha and setting that up if necessary. The faster we get you from start to finish, not only the sooner we get to be in front of another customer, but the less time you "waste." After all, we're paid in commission, but for those of us who do care about our customers and want to earn their repeat business, we ensure everything we do not only meets the Scion standards, but keeps the customer satisfied and happy when they leave our lot.