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SUVs Toyota Highlander Extended Warranty - Toyota Extra Care
84 messages, Last post on Nov 17, 2009 at 9:37 AM
You are in the Toyota Highlander Forum. Your Hosts are steve_ & tidester
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A dealer offered me 7year 100,000 miles extended warranty through Toyota Extra Care Platinum for $940. Do you think this is a good deal or not? They said that why would be able to lower my interest to 5.5% if I purchase this extended warranty. I have a few questions. 1) Do you think at $940 is a good price? 2) Do you think I can cancel the extended warranty and get the refund and keep the low APR? |
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I just purchased an '08 Toyota Corolla and the dealer highly recommended buying an extended warranty from Fidelity Warranty Services, Inc. - they are out of FL. It's a Platinum Coverage which is 7 yrs/ 100,000 miles but mine cost $1562.00. I have a $0 deductible. This warranty also came with GPR - guaranteed price refund - if I never have to use the warranty I get the $1562 back. I called Fidelity today and they confirmed this. Now I am having 2nd thoughts abt this. I have 30 days to cancel. I spoke to the dealer today abt my concerns with the warranty and he said it was from Toyota which made me feel better. Fidelity is owned by JM Moran Company which owns Southeast Toyota - they distribute all the Toyota in the Southeast. I don't think they would be very happy with me if I cancel this policy yet I am wondering if it's worth it. What do you all think?
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Replying to: blndamb15 (Sep 24, 2007 2:31 pm) Fidelity Warranty Services, Inc. sounds not like Toyota to me. GPR is definitely a sales gimmick. You need Toyota Extra Care warranty. Use link bellow for reference but I'm sure you can find lower prices. http://www.bernardiwarranty.com/Departments/Toyota-Extra-Care/Corolla/New-Coroll- - - - a-Personal.aspx Keep in my mind that you can buy extended warranty any time before you car hits 3 year/ 36K miles limit.
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Replying to: lucky_777 (Sep 24, 2007 2:45 pm) I did find out that Fidelity is owned by the JM Moran Company which owns and they own Southeast Toyota which means that they supply the Toyota's around the Southeast.
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Replying to: blndamb15 (Sep 24, 2007 4:00 pm)
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Replying to: lucky_777 (Sep 24, 2007 4:03 pm)
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Replying to: blndamb15 (Sep 24, 2007 4:25 pm)
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Replying to: lucky_777 (Sep 24, 2007 4:35 pm) The SET Fidelity warranty should be different from the Toyota one, but there may be some agreement between Toyota and that distributor that may come back to bite you. Probably not a problem, but it wouldn't hurt to ask.
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Replying to: steve_ (Sep 24, 2007 5:05 pm)
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Replying to: blndamb15 (Sep 24, 2007 5:20 pm) Ah, that depends on who you ask and how well you sleep at night knowing it may cost you $1200 to fix your navigation (or other expensive computerized doo-hickey, like the ECU) in your SUV a few months after the manufacturer warranty expires. I think extended warranties are a big profit center for the dealers and I've never thought they are worth it. I have made buying decisions based on long factory drivetrain warranties though. (5/50 and 7/70 for my last two new cars). Personally I'd rather keep the cash in my interest bearing bank account and hope for the best. Plenty of people report that an extended warranty has paid in spades for them though. I think the best ones are like the ones Subaru and I think Honda offers, and you say the one you got has this deal - you buy them, but if you don't use them during the extended warranty period, you get your money back. Maybe Lucky_777 knows something about this gimmick that I don't though. I don't really trust the non-manufacturer warranties much - too many of those outfits have gone bankrupt leaving owners holding a worthless scrap of paper. Are they legally bound to honor their service contract? Well, they are supposed to do what the contract says they'll do, right? The reputation that many of the aftermarket companies have is that they have a long laundry list of items that aren't covered, and will take any opportunity to deny your claim. So then you have to go to the BBB or court to try to enforce the contract. The manufacturer backed warranties are supposedly a bit better about spelling out coverage since how they treat their warranty customers also reflects on how they treat their car customers in general. And dealers may be more familiar with how the factory backed ones work, which may be a factor if you plan to move, or you travel a lot or if your dealer folds. Other talking points: You have a factory warranty so any extended warranty will be running at the same time as the factory warranty, and you may not get any benefit from the extended one until after the factory warranty expires. This harkens back to another point of Lucky's - since you can buy one before your car hits the 3 year/ 36K miles (or whatever) warranty limit, if you wait, that gives you ample time to predict whether your SUV is a creampuff or has some issues. If it has lots of issues, you may decide to trade, and that may negate your ability to get your extended warranty money back and it may not be transferable to the new owner. An aftermarket extended warranty company may require you to pay for the repair up front, submit paperwork and then wait for payment. Or they may take a few days to authorize work, which can mean an extra trip to the dealer. Rumor has it that the manufacturer backed warranty is easier to deal with in this area. Hope this hasn't made your decision harder. 
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