Toyota Extra Care Extended Warranty

[Weyweyjenn]

I just talked to my dealer about this the other day, and they told me if I get it after it will cost me at least $500 dollar more. I'm wondering if this is true....

[tomato]

Originally Posted by Weyweyjenn

I just talked to my dealer about this the other day, and they told me if I get it after it will cost me at least $500 dollar more. I'm wondering if this is true....

High pressure sales strategy?

[jambo101]

Its a Toyota, the warantee that comes with the car will suffice,if it breaks after that i'll fix it.

[mryaris]

Originally Posted by jambo101

Its a Toyota, the warantee that comes with the car will suffice,if it breaks after that i'll fix it.

Yep.....I agree 100%. An extended warranty on a Toyota or Honda, et. al, is a sucker bet and not worth the money you'll pay for it (unless it is free).

I had this discussion with the sales manager when I bought my Yaris. I told him that it makes little to no sense for me to pay "X" dollars for a warranty that covers me from 36,000 miles to 100,000 miles when the car is just getting broken in at 100,000 miles. A more worthy plan would be up to 150,000 miles. He laughed and said that'll never happen.

Anywho......much like the two drink minimum at the strip club, an extended warranty only serves one purpose......to increase the profit or bottom line for the dealership. Most will get half of whatever they charge the customer back in their pocket after the sale is complete. The dealership I bought my car from actually owns the warranty company, so they get all the money. They quoted me $2270 for this warranty........that's 17% of what I paid for teh car ($13,200).

I did my own little cost-benefit analysis and determined that the liklihood of my little Yaris needing almost $2300 worth of work (upwards of $4000, if you include interest, etc. since it is rolled into the loan) is slim, so therefore the cost of the warranty far exceeds any real benefit I would ever receive.

I know everyone has their own opinions about this.....if you feel more comfortable having some sort of warranty, then get it. I, myself, will never spend the money for one......like jambo101, I will fix whatever breaks myself....if and when that happens.

[tomato]

Originally Posted by mryaris

Yep.....I agree 100%. An extended warranty on a Toyota or Honda, et. al, is a sucker bet and not worth the money you'll pay for it (unless it is free).

I had this discussion with the sales manager when I bought my Yaris. I told him that it makes little to no sense for me to pay "X" dollars for a warranty that covers me from 36,000 miles to 100,000 miles when the car is just getting broken in at 100,000 miles. A more worthy plan would be up to 150,000 miles. He laughed and said that'll never happen.

Anywho......much like the two drink minimum at the strip club, an extended warranty only serves one purpose......to increase the profit or bottom line for the dealership. Most will get half of whatever they charge the customer back in their pocket after the sale is complete. The dealership I bought my car from actually owns the warranty company, so they get all the money. They quoted me $2270 for this warranty........that's 17% of what I paid for teh car ($13,200).

I did my own little cost-benefit analysis and determined that the liklihood of my little Yaris needing almost $2300 worth of work (upwards of $4000, if you include interest, etc. since it is rolled into the loan) is slim, so therefore the cost of the warranty far exceeds any real benefit I would ever receive.

I know everyone has their own opinions about this.....if you feel more comfortable having some sort of warranty, then get it. I, myself, will never spend the money for one......like jambo101, I will fix whatever breaks myself....if and when that happens.

Well, that's a good point, too! I posted a thread a while back called "should I get the extended warranty'

http://www.yarisworld.com/forums/sho...ended+warranty

and the majority of people said pretty much exactly the same thing. Funny you should mention 17%, that's exactly how much the extended warranty / service contract was going to cost me. I might have paid, but a close look at all the exclusions gave me some pause.

I guess what the OP is selling is a bit different, though, IDK.

[TroyD]

Originally Posted by tomato

I guess what the OP is selling is a bit different, though, IDK.

And a LOT less money. The plan's that I'm offering are the genuine Toyota Extra Care plans directly through Toyota Financial Services.

Here is the link:
http://www.toyotafinancial.com/consu...ProtectionPlan

And what you were quoted by your original dealer is exactly the reason why I'm here making this offer. $2,300.00 is $1000 more than Toyota's MSRP for a Platinum 7/100K plan. And I'm willing to sell that plan for $810.00 (Total cost, no sales tax or any other fee's). That works out to only 6% of your original sale price.

Granted, I might be a little biased ...but if you do have a problem it doesn't take much of a repair to cost more than $800. Heck, an ABS actuator alone costs over $2000.00 to replace.

Troy

[tomato]

Originally Posted by TroyD

Heck, an ABS actuator alone costs over $2000.00 to replace.

Troy

(sigh) Now, I miss my old car (sigh)

[TroyD]

Originally Posted by Weyweyjenn

I just talked to my dealer about this the other day, and they told me if I get it after it will cost me at least $500 dollar more. I'm wondering if this is true....

The short answer is NO.

Dealers have a set cost and are fee to mark up the plans as much or as little as they choose. So, if that particular dealer decides they want to charge you $500.00 more after delivery they are fee to do so. However, it doesn't affect the cost of the plan, and you don't have to purchase it from them.

Originally Posted by Tomato

Before I check your 12 pp thread, could I ask a quick question, then? Would anyone be able to purchase an extended warranty on a car that has already passed the 36,000 miles but is still under 60K powertrain warranty? The car was "Certified" by a Toyota dealership, and actually is still under that "Certified" warranty for another 2 weeks.

I've played with the idea of getting extended warranty for my 2007 Yaris, but the dealership's offer was very expensive and the exclusions were too numerous. Thanks.

No, only the New Vehicle version of their plans can be sold after the fact. But it doesn't make any difference if the car was purchased new, used or certified. It qualifies as long as it's still within the original 3 yr / 36,000 mile warranty period. The Used and Certified plans are only available from the selling dealer, and only right at the time of sale of the car.

Thanks for keeping this thread alive!!

Troy

[tomato]

Originally Posted by TroyD

No, only the New Vehicle version of their plans can be sold after the fact. But it doesn't make any difference if the car was purchased new, used or certified. It qualifies as long as it's still within the original 3 yr / 36,000 mile warranty period. The Used and Certified plans are only available from the selling dealer, and only right at the time of sale of the car.

Thanks for keeping this thread alive!!

Troy

Oh, I see. Yeah, that makes sense and that's what they told me as well. Well, I guess I'm on my own, then.

I guess that explains why people turn in their vehicle right around 30K miles, then, uh.

Thanks for the response.