I bought a new car & was stupid enough to buy the extended warranty program for $1500.?

Question

I have since realized that this was a scam & don't really need it since it's a Toyota. The warranty is 7 yrs/100,000 & cost $1560.00. I read through the service contract & it says I have 60 days to cancel but if I cancel in the first 30 days I don't have to pay the $50 cancellation fee.

I really want to cancel but I'm scared of the Business Manager! I spoke to him yesterday abt something regarding my loan & told him that I had concerns over the warranty. He said no it's a great warranty company. I could sense his anger.

I almost want to forget it but then I think I shouldn't do that b/c this isn't right for me. I always have a problem sticking up for myself.

How should I handle this? What can I do to build a backbone? I'm an older single woman - 47 - & I always shy away from controversy. I need help. Please someone help!

Answer 1

Do you have a girlfriend that could be you for you if you know what I mean? Call as you and cancel it?
The extended warranty is another chance for them to stick it to you before they let you out the door.
Look in the mirror and say out loud. " I have looked over the contract and I have time to cancel this warranty policy and that is what I want to do. Please cancel it for my car!" Practice like it is for a made for TV movie. Do it goofy style, be outrageous, say it with a accent. Do it enough times that it is second nature and you don't think of this oppressive jerk using his brooding to strong arm you into something you don't want. SO when you can just say that you want to cancel call the Warranty company or the dealership and tell them that is what you want. Maybe even call when no one is there and leave a message saying that you want to cancel.
I would say you need to do this and feel the strength of all women everywhere that have finally had enough of these overbearing jerks selling overpriced scams to them. They are standing with you as you make that call and tell him you are canceling that warranty thank you very much. Do it, you can.

Edit:
Yes yes yes! what that guy, Maya's Dad, said! That is the way to solve this. I just want you to feel empowered and not let pushy sales people step on you anymore.

Answer 2

You have had multiple answers saying about the same thing. I guess my question is why do you want to cancel the service contract? Someone else mentioned that the $1500 would come off the loan amount at the end. That is absolutely correct. You will not receive this money in hand and your payment will not change.
Also, I agree with the ones that said that an aftermarket warranty should be canceled while a manufacturer's plan is something to keep. However, not all aftermarket plans are bad. CNA National is a very good plan that mimics a manufacturer's in reliability and acceptability.
Besides being wary of an aftermarket plan, the level of coverage is something to consider. Most plans offer levels of coverage from Power Train to an exclusionary plan that will only exclude wear and tear and maintenance items. I would recommend the exclusionary plan because it would be the same as being under the factory limited bumper to bumper.
Further, $1500 for a 7yr/100,000 mile plan is not a bad price even on a Toyota. Toyotas are not infallible, and there are many electrical items and computers that can go down that are expensive to repair not just due to the cost of parts but at $75-85 per hour a shop charges to do the repair. Many times, because of the time involved to repair cars these days, you find yourself with a huge repair bill. Ask yourself what is easier, coming up with an $800 repair plus your car payment, insurance and other bills or the $25 difference per month and a small deductable with the convenience of a rental car, roadside assistance and trip interruption.
If you still think you want to cancel the warranty, the business manager has no choice. You can complain to Toyota's consumer affairs and they will call this guy. Their phone number will be in your owner's manuel.
Good luck whatever you decide!

Answer 3

I work in the auto industry, and I am a firm believer of extended warranties, but only if they are through the original Manufacturer.

If your warranty is not through TOYOTA, then get your money back. 3rd party extended warranty companies are a rip off, and most go out of business. They will try to put on used parts and even decline repairs.

If you want a good warranty, get a REAL toyota extended warranty, but call around and get the best price. There is HUGE markup in these warranties.

Answer 4

Cna Extended Warranty

Answer 5

Hello.. this is not controversy!! Just call & say you don't want it. Too bad if the manager gets mad. He probably got a bonus for selling the extended warranty!!

Also, just so you know, you can always purchase an extended warrant BEFORE the original warranty is up!!

So, take a deep breathe, and call that ***. Tell him you don't want the extended warraty & will buy one later if you feel its needed. Don't feel obligated to explain any further even if he presses you. If he says this is your only chance for the extension, tell him your mind is made up & you don't want it.
If he's a total jerk ask for the manager of the dealership &/or deal with someone else if possible.

Answer 6

Auto warrantys are a big rip off scam.#1 the deductible is higher than the cost of things like alternators starters ac compressors. #2 the language is designed to circumvent them paying anything example every moving part made of steel in your engine is covered! At first that sounds so good! But hell no! Your engine is cast iron and aluminum only the bolts are steel. I've had them my daughter had them my friends had them. And when we needed them.for instanse my head gasket blew warping the head a 1200$ but the warranty company won't pay for gaskets! Or damage caused by them failing! My daughter needed an alternator .the warranty has a 500$ a year deductible so no help.the ac leaks but that's routine maintenance not covered.the transmission is malfunctioning you must show proof that you changed the oil and did a maintance at the scheduled dealer interval! When they call tell them to ouck. Fof. Don't do it you will never see one repair dime.

Answer 7

If the extended warranty is from the manufacturer of your vehicle, it really is worth having. BUT, if it is one of those compamies that some places con you into getting, I agree, it is a rip off and not something you want or need. They always find a way of excluding whatever it is you need repaired. Now, check to see which one it is you have. If it is not offered by the manufacturer (toyota) go back to the dealership today, take a male friend with you if you feel comfy doing that, but go in, stand your ground, be firm but courteous, explain that you do not want the extended warranty and that you want it removed. Don't back down. If he is a problem, ask for the general manager to be in the office and tell him that you don't want it, that the business (sales) manager is being difficult and you would appreciate his assistance. I always find it easier to go to the supervisor, of the supervisor of the person you are having problems with. Believe me, thay want your good business and they want to know if a member of their team is not meeting their standards or is bullying a female customer.
Good luck and stay firm on your decision.

Answer 8

You're 47 and can't tell a scum-ball car salesman you don't want his P.O.S. warranty?? Tomorrow you get in your overpriced new car, drive to the dealer and waltz into that dirtball's office and TELL him to cancel the warranty at once. Do not leave without the cancelation form in your hand, do NOT argue, do NOT cave. Do NOT explain it to him. He will whine, beg -- maybe even cry but hold your ground. Hell, you can do this, gal. Just remember, these 'people' are NOT your friends. They are going to try and frighten you into keeping that worthless warranty by giving you endless horror stories about breakdowns, etc. etc. Hell, you bought one of the most reliable cars on the damn planet, the new car warranty is ALL you will ever need. If you are really concerned then put the $1500 into a savings account and name it 'car repairs'. That will handle all but a major powertrain failure (which is covered for 100K miles by Toyota). Car salespeople will sell their grandmothers to polar bears if they could make a dollar so TREAT them that way! They are used to it....
Damn ... I wish I could go with you!!

Answer 9

Cna Auto Warranty

Answer 10

well first things first. Toyota is a great car. but the toyota warranty is a powertrain warranty. meaning any internally lubricated part. IE engine components and transmission components. It may not cover items such as alternators and starter or electrical components. such as interior switches or window motors, things such as that.That is where the extended warrenty kicks in. A toyota service advisor can tell you what is covered on toyota warranty. If you decide you still do not need the extended warranty, call the warranty co. and tell cust service that you are having problems with the manager and you would like to cancel the contract, (they will not ask you why) and what ever you decide, KEEP ALL YOUR MAINTAINENCE RECORDS! this is very inportant I found out.