Last post on Apr 11, 2013 at 7:49 PM
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Toyota Sienna, Car Warranties, Van
#153 of 168 Extended Warranty - 2008 Sienna XLE 66K
Apr 11, 2012 (6:33 pm)
Has anyone purchased an extended warranty after the 3/36K has expired? Was it worth it? I'm going Saturday to complete the purchase of a 2008 Sienna XLE with DVD, Navigation, Leather, power everything, etc.. an was wondering if I should purchase an extended warranty.
I normally don't even consider the extended warranties but I just got rid of a 2006 Cadillac SRX that the warranty would have no doubt paid for itself several times over with all of the repairs we had. I'm not having much luck finding info about warranties of this nature by searching online except for this forum and even at that most if not all seemed to have been purchased prior to the 3yr/36K expiration.
#154 of 168 Extended warranty 2012 Sienna XLE
Apr 17, 2012 (5:44 pm)
So of course I didn't read up on this before buying our new van, and ended up paying $1300 for the 7 year 100,000 mile warranty. I went back to the dealer today, 2 weeks after buying the car and they tell me that they cannot cancel it at this point since the paperwork was submitted already to Toyota. Is this true? And can I still call and cancel it and then buy the same exact product for cheaper elsewhere? Lastly, will I be stuck paying an inflated monthly payment for the remainder of my financing since the warranty was rolled in? Thanks in advance for the advice.
#155 of 168 Re: Extended warranty 2012 Sienna XLE [stvyzerman]
Apr 18, 2012 (11:37 am)
The dealer must have given you a copy of the application. Call the Toyota Financial services (800-228-8559) and request for cancellation of the application. You have 30 days from the date you bought the extended warranty ( called VSA by toyota) to cancel it.
#156 of 168 Another happy VSA owner
May 02, 2012 (10:56 am)
Boy, talk about easy...
A couple of emails and a phone call with VIN and cc# and I'm the happy owner of an 8 yr/100,000 plan courtesy of Doug at Toyota of Danville (IL). Doug supports "Sienna Chat" so I supported him. Plus, he's within driving distance if I need a FTF for any reason.
#157 of 168 Re: Another happy VSA owner [indydriver]
May 02, 2012 (12:19 pm)
Yep I agree. Thumbs up for Doug. Closed my Platinum (8Yrs/100K/0Ded) on my Sienna last week. BTW he beat Jerry's quote and was much quicker to respond. SiennaChat is how I located him.
#158 of 168 Re: Extended warranty 2012 Sienna XLE [stvyzerman]
May 05, 2012 (10:18 pm)
Sorry, but didn't see your message until now.
Yes, you can cancel the plan thru TFS, but they will not renegotiate the loan. Therefore they will make a principle payment against the outstanding balance, thereby reducing the term of the loan. The monthly payment, however, will remain the same.
Next insult will be trying to get a refund on the sales tax if you state charges tax. It didn't go to TFS, so they will naturally refuse to refund it. The dealer paid it to the state. In some states, "insurance policy" taxes are not refundable, so they may refuse. You may have to go to your state's attorney general for help on this.
#159 of 168 CPO vehicle & Wrap around warranty
Jan 09, 2012 (7:21 am)
#160 of 168 CPO vehicle & Wrap around warranty
Jan 08, 2012 (10:10 am)
Just bought a CPO 2011 Sienna yesterday from the dealership - at signing we were asked about adding the wrap-around warranty as the current 7yr/100k only covered power train - cost was $1695. We were told we could only add it then at the time of sale but that we can cancel it anytime in the next 30 days and get a full refund. We went ahead and got it so as not to miss out on a potentially good thing and figured we'd research it more later.
So here I am - researching. In general I've always heard extended warranties are a waste of money - and at $1700 I definitely don't want to waste!
The van has just over 36k miles on it and was previously a rental. I just don't know what to do...whether to keep the warranty or let it go. Thoughts? Most posts/replies I've seen refer to *new* vehicles which is why I'm asking. Do people have to haggle with the repair centers to get things covered under the warranty? And if Toyota is so reliable and well-built as has been touted for so long...do they actually *get* used??
Thanks in advance-
#161 of 168 Re: CPO vehicle & Wrap around warranty [rhaine86]
Jan 08, 2012 (6:17 pm)
Unless they changed it, the basic CPO plan covers 1/12 full bumper to bumper, and 7/100 powertrain with a deductible ($50, I think…). So that gives you a year and to 48k miles of full coverage.
Concerning the Platinum plan, your dealership didn’t lie to you, but they didn’t really tell you the whole truth either! There is a special version of the Platinum plan for CPO purchases that is only available on the date of vehicle sale. From reading the fine print, I only see that it enhances Roadside Assistance (lifetime instead of 1 year, IIRC).
If the vehicle was under 36k, you could add a standard Platinum plan at any time from another dealer. As you are over 36k, this might be an issue, however, being that you have a year of CPO coverage ahead of you, Toyota might let you add a plan during this ‘extended grace period’. Better make some inquiries to sellers quickly to be sure!
On the question of whether or not to add one…. Depends on your luck and history with cars. My #1 concern is electronics. Failures on these systems can be more costly than major engine work, and is probably more likely.
I added a 8 yr / 125k platinum $0 deductible to my CPO vehicle for $1450 from a dealership in Illinois. Buying out of state also saves you the sales tax.
A couple of hooks to consider should you decide to cancel the one you took.
1) If you rolled it into the financing, you are screwed. The check goes from Toyota ExtraCare to the lender as an advance paydown on the loan. You won't see a dime of it. The only way to really get your money back is if you were fortunate enough to have used your credit card to pay for the warranty separate from the vehicle contract.
2) If you paid tax, you may have to lobby the taxing authority to refund the money. Toyota ExtraCare doesn't get it, so they don't give it back. That transaction is between the dealership and the State.
Wonderful, isn't it? More stuff that the dealership didn't tell you when they advertised it as "REFUNDABLE". Technically it is, but you may never see it! Sorry to be the bearer of bad news.
#162 of 168 Re: CPO vehicle & Wrap around warranty [fibber2]
Jan 08, 2012 (8:46 pm)
We were informed that the regular 1yr 12k comprehensive warranty starts at the date of original purchase and in this case it was in 8/2010 so it is out of the regular bumper to bumper coverage provided for a new vehicle.
To be more clear - what we purchased on top of the Cert. used vehicle limited warranty (which basically just covers power train) is the Certified Platinum Plan. $0 deductible, roadside assistance, possibly transferable...
Did your CPO vehicle have over 36k on it when you purchased your warranty? I'm assuming not- from what I've read in previous threads, buying from a separate dealership was only available when under 36k or buying new.
I'm thinking we'll likely keep it on there considering we *did* roll it into the loan and won't see a decrease in the monthly payment amount from canceling it, and it does give us an extra 60k with more comprehensive coverage.
Ugh!! So stressful to work it all out -