Extended warranty question

I searched, didn't find what I was looking for

When I purchased my truck I got talked into the extended warranty/maintenance thing from the finance guy. It is the full coverage warranty and all maintenance covered until 5years/60K miles - also includes dent repair, interior cleaning all that crap. Made my payments go up 12 bucks a month I believe. Anyways, although I actually really like my 2017 TRD OR 4x4, I went to look into a Jeep. I got my offer for trade in, and was working the number when this dealer said, "did you get the extended warranty?" He then said, okay I can put in the paperwork to cancel it and you will get your money back for that. I do remember the finance guy mentioning this, but I wasn't really listening to much of what he said. Does anyone have any experience with this? How is the process if getting your money back, and how long does it take? I've only had the truck 6 months, I do know is prorated, but I imagine I'd get most of my money back on this... Any info would be great. thanks

 

I traded my '16 in for a '17, finance guy handled everything in cancelling my warranty and maintenance plan. I got a check in the mail from the new dealer with the difference about 2 weeks later.

 

I traded in my truck, and made no mention of an extended warranty. The first dealer I went into was trying to offer me less for my truck because "I need to take into account the money I'll get back from my extended warranty". I didn't go for that, because I wanted what my truck was actually worth.

I found my original paperwork from when I purchased the truck a few years ago, and found the extended warranty paperwork with it. On the back was all the instructions on how to get a refund. I had to call them, and have an email sent over with any info I needed. I put together the packet, and about a month later I got a check for two grand. They refunded two warranties I purchased, as well as the GAP insurance I purchased through them, which I had totally forgot about (good on their part for doing that). Overall it was a fairly easy experience. YMMV.

 

It's a dealer add on. Just take in proof you sold the Tacoma to the dealer you bought the taco in and see the HR department and they will take care of it and mail you a refund.

 

I did it after I took another look and they refunded all of it and
rolled it right into the loan. No problems at all.

 

The dealer I am working with did the same thing to me. They are like this is a great deal, especially because you will be getting money back from Toyota. Basically they are using the extended warranty as part of the deal for the Jeep. I'm not into that, but I am kind of happy about getting money back, I had totally forgot about that.

Thanks for all the info guys, I will have to go look into the paperwork after work.

 

So you traded in your 3rd gen for a Jeep?

 

Depending how long you had the truck, Toyota will deduct from how much you paid but you will get a refund.

 

Yep it's prorated, if it's the one from Toyota Financial (TFS). Just call them and cancel, they send you a check a few weeks later.

 

True. I got a prorated amount back based on how many miles I had on my truck. Luckily it was fairly low (26k) so I got most of it back.

 

OP - if I understand your post correctly, the Jeep dealer offered to get your Taco Warranty refund back? If so, this is strange to me.

Read the warranty papers that you signed. It will give you specific instructions to get your refund through your original dealer.

Remember this for future warranty purchases: read all the terms and conditions before signing anything...even if it makes the finance guy sit there for 5 hours. Also re-read all the stuff you signed over the next couple of days. Dealerships rely on people never reading the fine print ever.

I almost fell for a warranty that seemed too good to be true. I speedily read the fine print and signed. I then studied the warranty over the next day or two and determined it was not for me. It was like a ball of string that you really have to unwind and carefully scrutinize, while comparing it to Toyota care and what your truck already has as a warranty.

In many states you have 60-90 days to cancel and get a 100% refund. This is what I did because I caught my mistake early. Interesting enough I got my refund with no problem but for some reason I'm fighting for the tax I paid for the policy. 100% means 100% including the tax on the product.

Anyhoo, that's my experience.

 

It is the warranty through Toyota. The Jeep dealership did not offer to get my warranty refund back, as much as basically do the let work with Toyota to get it back. They are also using this money (even though I'm not sure how much it would be) as an incentive to buying the Jeep, so I think they are just trying to go the extra mile.

Smitty - I have not traded it in. I was more so exploring some options But it did get me started on this extended warranty thing, in the case I do get another Jeep soon.

 

If you're still local to the toyota dealer you purchased you truck from, that's a lot easier. I wasn't, which is why I had to do it via mail. If you're local, you can just go to the financing office and get it all taken care of there.

 

Thanks for all the insight. I live local to the dealership where I bought the truck. I may drop in just to talk with them about it.

 

Well, I thought I would update on this. Last night at approximately 7PM local time. The Tacoma was traded in. It was a good 6 month run.

 

Nice what did you end up getting? Pics?

 

Congrats! What'd you go with instead?

 

Landed up with a 2017 Jeep Wrangler Unlimited in Gobi (a khaki color). Got the sport with the locker since I'm going to doing the usual, 3 inch lift with 35's. It was basically a swap in price with the trade, so I couldn't pass. I'll be lurking here still!

 

That's great! My wife had a 2015 wrangler Sahara and it was a lot of fun to drive. We just couldn't handle the rough ride of a solid front axle though, so we sold it.

 

Owned two Jk's had to have second one to prove they are junk...lol good luck w it!