Just noticed extra dealer fees. What can I do?

They say that but news has been toting feds will keep the rate down again. We shall see, and every region is different. Midwest has 0.9% on 2020s and 1.9% on 19s for promotional rate, back in AZ it was 2.9% just a few months before I moved.

 

I noticed it but didnt want to say anything, thats step even for the 10 or 8 yr/125k platnium. Thats where they got him.

 

There are two sales when you buy a vehicle. The one that wears you down (the vehicle sale), and the really hard sale that occurs in the finance office. That's the tire warranty, windshield warranty, extended warranty.

The sales people make a few bucks off your sale, but the finance guys make a mint off upselling the rest. If you're unhappy with the cost of that extended warranty you can likely cancel it, and the amount will be pro-rated back to you (since you've used nothing, likely you can get it all), and the finance guy will receive a charge back, which will make him unhappy.

 

If it is the platinum warranty he can definitely get it for cheaper elsewhere and should.

@bbp what is that 3k charge for?

 

I opted into that. It covers the car bumper to bumper for 7 years or 100k. For my life situation right now I need reliability and dependability so it was worth it to me.

Well guys, sorry for the false alarm. When I noticed the charges I googled "dealer finance charges scam". It can be a legitimate issue with some dealers. I got a hell of a deal on the truck (15% off MSRP) so in the back of my mind I thought it must have been too good to be true. I put 2 and 2 together and assumed they added that "finance charge" to get their money back on the deal.

 

no worries, never hurts to double check.

However, you still did get scammed though as a good price for that 7 year warranty for 100k can sell for as low as $1300. You overpaid by like 2700

 

Can you get those third party or do you have to negotiate at time of sale?

 

Extended warranty most likey... he needs to kill that and shop around. Can get that for around 1500non average.

 

You can cancel it and purchase anytime in the next 36 months. Call around to other Toyota dealers and ask.

 

I know, I don't like thinking about it. I started my journey looking at used late model 2nd gens but couldn't find any for less than 25k (most were around 30). Reliability was really important to me so I spent the extra and went new.

 

It's an actual Toyota warranty (hopefully, check your paperwork). @shakerhood got his for a good deal and usually @Clearwater Bill is also able to chime in with some knowledge.

I don't know if it is possible to get your 3k refunded and then repurchase it somewhere else for a cheaper price but I would highly suggest trying to figure out if it's possible.

 

You do realize it's 75 mts. Not 72?

edit: I can almost guarantee, adding up all what is written vs. what you were told, they 'had coitus with you' somewhere along the way.

 

This is good information. Thank you. Damn, and I thought I did my homework on this venture...

 

You can cancel extended warranty and repurchase it at any time during the standard warranty period.

 

Yes, I'm not sure why that is the end result number of payments. Nobody sells loans for 6 years + 3 months. The agreed upon terms were 72 months.

 

Au Contraire you just payed a 3 month honeymoon.

 

They see that as a challenge. They're good at what they do.

If they put that much effort into their wives....

 

The ONLY way to win is to finance yourself at your bank and talk as little as possible to the reptiles.

 

I hear you. I'll be less willing to give them a chance in the future. I've purchased cars in the past and have gotten better financing through the dealer.

I'll call around tomorrow to shop other dealers for warranty extensions. It definitely looks like they marked that up on this deal. Thanks for the tips guys. I spent so much time focusing on getting a deal on the sale price that I neglected to do my homework on how to negotiate the financing step.

Edit: I can tell this is a great community. I appreciate all of your responses!