Dealer pulled a fast one on me.

I have been through the scenario of paying cash for a vehicle with an insurance check. The vehicle that was totaled was paid off so if I had traded it my sales tax (title tax here in Georgia) I would have only paid 7.5% on the difference between my trade and the purchase price of the new vehicle. Not the case with no trade. Big difference when you are paying 7.5% on 36,000 versus 15,000 or so. Many people think selling a vehicle outright and then going to the dealer with cash saves them money. Not always the case.

 

Paying cash is great and all, but you're not going to get a better deal that way. Not in this market, and not in any market. They make money off financing, period.

 

Stealerships are incredibly good at talking about what a good deal they offer. When I was negotiating for my truck, they were desperately trying to recover the huge discount we got after the salesman screwed up. They tried to sell me a free maintenance package for $2999.00 my first question was how is it free if I have to pay for it up front, they just kept saying free services, for a length of time. So I asked them, I paid for these services when I had the truck serviced, how much would it be over that length of time. They did some calculations and it was $1500!!! They wanted to charge me double and then tried using the word 'free' to make it seem like a great deal!! I truly hope my truck lasts forever so I never have to go back into a Stealership!

 

The appropriate title for the thread is:

“I allowed the dealership to charge me $5319 extra because I chose not to understand what I was signing before I signed.”

 

I got my extended warranty refunded about a year into ownership. Took a while but finally saw the $1200 as a credit on my loan. Had to go in and waste a couple of hours at the dealer and fill out a refund form. They really took their time and made me wait though, just sitting in the corner. Jerks.
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ca·ve·at emp·tor
/ˌkavēˌät ˈem(p)ˌtôr/
noun

1. the principle that the buyer alone is responsible for checking the quality and suitability of goods before a purchase is made.

 

No one actually said you would get a better deal.
Someone said it's easier and better focused when you pay cash.
How someone comes up with the money or not is not the discussion, how someone remains alert IS.

Another way - if you have a spouse or buddy or even sibling - that might actually be helpful (not drunk uncle Nestor) - dealers ALWAYS like it when you are alone (even with cash!) - as a team, they are less likely to pull some shit.

 

Back in 2020 i was asked how i was going to pay for the truck. They told me if payed in full upon delivery with my personal check, they Could give me a better deal which they did.
As far as the extended warranty i can't believe they just tacked it onto the cost of the op's truck without telling him first about it. They tried a hard sell with me when i ordered my truck on the extended warranty, but i refused...it appeared to piss them off. I did go for the lifetime professional ceramic coating, and interior protection warranty knowing how my tundra got after 19 years.

 

Some dealerships take advantage of people because they can. They are good at it and proud of it. You are on their turf and they know it and have an advantage. Take this as a learning lesson so it never happens again. The same thing happened to me when I was younger and dumber. Back in my day they called it being "hood winked."

 

Albeit correct you are simply repeating what everyone else is saying "Read the paperwork!"

 

This thread confirms the following:
NEVER negotiate based on monthly payment.
ALWAYS negotiate based on final price.
and finally
ALWAYS read the paperwork line by line before signing and ALWAYS ask questions if you are not sure about a specific line item.

Don't be afraid to walk away. They will ALWAYS call you and ask you to come back in.

 

You didn't notice $5,000 in extra charges on your paperwork?

 

There are some things that our young folks don't get educated on in school that they could really use in life. My generation had no mentors on investments and retirement because they didn't exist. With forums like this no excuse now for someone to not have the tools they need to negotiate . Most folks on here would be happy to share their expertise.. I know I would.

 

OP, you can cancel your extended warranty and service plan and get refunded, but if they are figured into your loan, your payment will not go down. Instead the refunded amount will just go towards your principle balance owed. Not that it matters if you are refinancing anyways though, because then you will have a new payment regardless, but thought you and others may want to know in case you don’t refi it.

 

Michigan! Wolverine Toyota (Jennifer Taylor)

 

The plan is the Toyota Extra Care Platinum $0 deductible directly by Toyota.

 

Wow, that's pretty good using a Florida address. Do you mind if I PM you and ask where you purchased it?

 

In my experience, not sure how Toyota does it...but if you cancel within 30 days, you get a 100% refund on the warranty. If you cancel after 30 days, its a pro-rata refund. The refund isn't sent to you if you are financing the vehicle. It will go to the bank and comes off the loan amount, it won't reduce the payment, just the remaining balance. Maintenance upgrades differ from manufacturer to manufacturer, most are cancellable.

I would first reach out to the Finance Manager that signed you up, they probably aren't going to be jumping to help...so you will probably have to stay on them.

 

This is why you should always do your own payment calculations before signing. They’ve tried this on every new vehicle I’ve bought. Dealers make a little on the price of the vehicle and they make a ton selling all the other BS. I know that’s no help now but it’s definitely a lesson learned.

 

I agree with the new car buying syndrome. But should have noticed $4500. I am sorry that it happened to you, best of luck