Extended warranty - Whats the deal?

[Mikem53]

Originally Posted by whtchocla7e

Based on the early problems with this car, which affected me as well, I'd rather the extended warranty.
My confidence in the platform has decreased from 100% to 30% over the last year.

That's why you have a 3 year bumper to bumper warranty and 5 years on the power train.. This is my 3rd scion in the family.. And no warranty issues with any of them..
What early problems do you speak of ? Haven't seen any real issues other than chirping noises from the DI system..

[whtchocla7e]

Originally Posted by Mikem53

That's why you have a 3 year bumper to bumper warranty and 5 years on the power train.. This is my 3rd scion in the family.. And no warranty issues with any of them..
What early problems do you speak of ? Haven't seen any real issues other than chirping noises from the DI system..

Cam gears replaced... I think that's a real issue.

[Tucson FR-S]

The Vegas analogy is right on: all insurance makes lots of money for the insurer (even if there are sometimes big payouts). So why buy insurance? Either because you think you're likely to use it so often you get more than you pay (e.g., health insurance if you're old) or because the event it insures against would be ruinously expensive, even if it's highly unlikely (heart transplant, burnt down house, accidentally injuring someone with your car). Never buy insurance (extended warranty) on a toaster. So the question on a car is: is there likely to be a failure during the period of the insurance (warranty) of some part or parts that you couldn't afford to have repaired? For me, my FR-S is a very nice toaster. (Hmmm... toast.)

[topazsparrow]

So here's where I'm at then:

There's a FR-S in the color I want inbound on a boat to Vancouver BC. The Dealer wants a $1000 deposit to secure it. I cna't blame them for that really, they probably don't want to sit on a Hot Lava Fr-S if I back out of the deal.

The problem is, they keep telling me we can go over the extended warranty stuff when I come and sign the final papers. I just feel like if I pay the deposit they might try to rip me off with the extended warranty and other protection plan stuff because I won't be able to walk away without losing 1000 bucks.

[Simpleviet]

Disclaimer --> Advice from my experience. I decided to keep my extended warranty. I could have cancel it within 60 days I believe. After 60 days it would be prorated. I'm not sure if it's the same for Canada. I live in the US.

Just say no to the extend warranty. If you can't. Accept it. Call Toyota Financial if thats the extend insurance you're getting from. Tell them you want to cancel it. They may ask have you talked to your dealer. You answer the dealer isn't cooperating. Then, Toyota Financial will process the claim you filing for a cancel forgot how many days or weeks it was but you will get a full refund but it doesn't go towards you in your pocket but pays off loan

.
Anthony

[thill]

Originally Posted by topazsparrow

So here's where I'm at then:

There's a FR-S in the color I want inbound on a boat to Vancouver BC. The Dealer wants a $1000 deposit to secure it. I cna't blame them for that really, they probably don't want to sit on a Hot Lava Fr-S if I back out of the deal.

The problem is, they keep telling me we can go over the extended warranty stuff when I come and sign the final papers. I just feel like if I pay the deposit they might try to rip me off with the extended warranty and other protection plan stuff because I won't be able to walk away without losing 1000 bucks.

There is no reason to put down a $1000 deposit on this car. That is way too much. Tell them you will give them $250 but make sure it is refundable once you see the car and drive it and decide you don't like it. It is not like the dealer cannot sell or trade these cars, demand is high.

I don't understand what your deposit has to to with teh extended warranty and other protection packages? You realize the dealer cannot make you buy them? You can buy the car without any of that crap. I am always upfront with the finance manager. Before they spend 20 minutes trying to scare me into buying this stuff I tell them upfront I have no interest in any extended warranty or protection packages. I state that there is no point in discussing it since I don't want to waste your time, or my time, but I appreciate that those things are there if I am interested.

[whaap]

Originally Posted by topazsparrow

So here's where I'm at then:

There's a FR-S in the color I want inbound on a boat to Vancouver BC. The Dealer wants a $1000 deposit to secure it. I cna't blame them for that really, they probably don't want to sit on a Hot Lava Fr-S if I back out of the deal.

The problem is, they keep telling me we can go over the extended warranty stuff when I come and sign the final papers. I just feel like if I pay the deposit they might try to rip me off with the extended warranty and other protection plan stuff because I won't be able to walk away without losing 1000 bucks.

Before my car came in I made a $500.00 deposit but the amount of your deposit isn't that important as long as it's clearly written that it's refundable.

I've dealt enough with dealers that I know when the salesman's work is done I get turned over to the F&I (finance and insurance) guy who wants to sell me everything. First I let the salesman know that when he turns me over to the F&I man I don't want any b.s. about extended warranty or anything to do other than the purchase that the salesman and I have agreed on. Usually it works but sometimes I have to remind the F&I guy.

[ktulu7]

I got an extended warranty and service plan because I actually did the math and ended up way ahead on the service plan, and the warranty really didn't cost much either. I was just in the mood for one, since my last car was kicking my rear end on repair costs. My dealer is also known for being freaking awesome around here, so I guess I wasn't screwed AS hard as I could have been... We'll see.

[HunterGreene]

I got it. Its cheaper to buy it now as opposed to later, and as some of the other posters have said, new car = new problems.

My previous car (S/C tC) had the original warranty, but after the dealer screwed up some stuff, they gave me a 100k mile warranty free of charge. Obviously worth it, since I had warranty repairs happening up to the 90k mile mark. Granted, I didn't pay for it, but it would have been worth it had I purchased it.

Did I waste money? Possibly. But I guess when we start seeing some owners passing the 50k mile mark, we'll know for sure whether or not it was worth it. I have my peace of mind, though.

[thill]

It is really a personal preference. If you plan on keeping the car 7+ years and want the peace of mind, go for it.

[eddieEndo]

i reaaaally really regret getting the extended warranty but i know the dealer is gonna make it very hard for me to cancel it, or bullshit me and waste my time, is there a way to cancel over the phone lol

[topazsparrow]

Originally Posted by ktulu7

I got an extended warranty and service plan because I actually did the math and ended up way ahead on the service plan, and the warranty really didn't cost much either.

Mind sharing the math on that? I'm curious.

Originally Posted by ktulu7

I was just in the mood for one, since my last car was kicking my rear end on repair costs. My dealer is also known for being freaking awesome around here, so I guess I wasn't screwed AS hard as I could have been... We'll see.

why in the world was a 2013 FR-S "kicking your rear" in repair costs?

[CodyFRS]

I purchased one, and am glad that I did. I had the CEL of death and had to have entire engine replaced. Phew.

[topazsparrow]

Originally Posted by CodyFRS

I purchased one, and am glad that I did. I had the CEL of death and had to have entire engine replaced. Phew.

What???

That would have been covered under the basic manufacturer warranty.