EXT Warranty refund

I bought my 18 TRDORDC 4X4 6 weeks ago & purchased the 10yr/100K platinum warranty, & 15 oil changes-that start in 2 years. There is a 99% chance I am going to give the truck to my nephew, out-of-state for Graduation. He will not be able to use the oil changes & his dad owns a mechanics shop[ so will not need the warranty. What are the chances the dealership will refund the warranty's to me without a hissy-fit? There is a 100% chance I will purchase a 2019 Tacoma from them in a few months. The time frame on him receiving this truck is up will be around Thanksgiving, but I would like to take care on the refund ASAP.

Anyone have any experiences with this?

Obviously this was not planned. THX

 

Yes you can cancel your warranty anytime. I have done it numerous times. Sometimes they will send you a check or if you owe money back to the account. Just call the dealership and talk to finance.

 

I wish I had a uncle like you.

 

I’m pretty sure you can get a full refund if you cancel within 60 days .

 

They'll provide a full refund (or prorated depending on how much time has elapsed). It's been a few years, however I did this on my last Tacoma.

 

Traded my pro-rated refund back into the lein on my truck after over a year... was super easy to do and the funds hit my Toyota Finance account in about a month if I remember correctly...

 

Right on. I paid cash for everything so it should be easier.

 

refund on a ext warranty (Toyota oem) within 30-60 days (not sure on the grace period) gets a full refund, after that it will be pro-rated based on months/mileage elapsed since purchase.

depending on how the ext warranty was paid for will determine who gets the money from the refund.

if you paid for it outside of the finance, you will get a refund within 6-8 weeks from Toyota to the address on the ext warranty booklet.

if was paid/part of the finance of the vehicle, it will refund back to the bank/finance company.

 

Why go through the trouble, buy him a used 2017 if you are that bent on giving him a truck.

 

Thanks for everyone’s feedback.

So on the prorated part, the extended warranty does not kick in until after the third year. How does that work?

 

I am pretty sure the value goes down prior to 36 Months as you could surpass the mileage part much sooner.

 

correct, but the time frame starts from the day you buy it. on the Toyota oem ext warranty, the first 3 years are a wash (7yr/100k) as an example means that the warranty starts from mile 1 and ends at mile 100k but the original 3/36 warranty takes over first then the ext warranty takes over from there (unless an item is not covered under the 3/36 then it may be covered under the ext warranty)

some people say buy the ext warranty just before you reach 3yrs/36k miles, whichever one you reach first. I don't know what the pricing difference is as you get closer to the 3/36 cutoff.

 

I have some pretty kick-ass uncles , BUT none of them gave a new Tacoma .

 

Toyota will pro-rate your refund as a percentage of the 100k warranty. So if you already have 10k miles on the truck, you’ll get back 90%, less cancellation/processing fee. If you owe on the truck, they will apply it against your loan.

 

Hi it's me, your nephew!

 

extended warranty can be transferred (i know you aren't doing this) for a fee or get a prorated refund on it.. not sure but when we got the refund with our Subaru we had to show it was sold and the mileage we got rid of it at.. not sure how giving ti a family member will work.. you may want to look into it and see what forms need to be filled out.

you can also get a refund on gap insurance too for the unused part of it..

why did you get that big warranty if you were giving it away??

 

they will probably negotiate a little more on the extended warranty while you are sitting there buying it..