Should I cancel my extended warrant?

Yes, because they HAD to sell some warranties. I always buy on the last day of the month because they either HAVE to sell cars and/or they HAVE to sell warranties. For the same monthly payment, I left with 1.9% and warranties that I can cancel. Seems like a step back. I'd rather have my money in a warranty than just paying more interest...

 

You probably could have walked away at that same rate without the warranty since you qualified for it, Toyota doesnt base APRs on whether you buy an extended warranty, the finance guy was just trying to squeeze something out of you / the deal. But if you had to choose one over the other than yes you made the right choice.

 

At the time I had like a 640 credit. Doubt I qualified for the 1.9. My buddy and I spent 4 hours negotiating the cost of truck. I was already happy at 3.9% because of how low I worked the truck price down.

Maybe I could have gotten the 1.9 without warranty. Only God and the dealer knows that lol.

 

Damn, you got a deal on the rate with that score, sorry no offense, thats just subprime and a prime rate. Nice work. I'm 776 and still didnt get that rate lol, 2.9 for me (I did score the 1.9 last year, freaking rates up again), now I feel taken advantage of, lol, I did get a killer deal on the truck and trade, no biggy.

 

Great question. If you have less than 10k you should cancel the extended warranty and get mechanical breakdown protection from your insurance company.

But here's the caveat, you have to tell them about the mods. That makes you legal from a liability standpoint and they won't balk at fixing aftermarket stuff.

Note if you plan to lift over about 3 inches they won't like that but in reality your insurance is worthless anyway because they will deny any claims due to the modifications.

That's what I did and it is nice piece of mind. Even though most likely I'll fix any problems myself.

 

No offense taken. It's better now lol. My bud and I are pretty good negotiators. Beat them at their own game, waste their time, and always be ready to walk .

 

I’d rather pay cash and not waste money on either.

But thats just me.

 

There are some pretty compelling statements on here.. alright, alright, I’ll cancel the sucker. If I get a check I’ll get me a HC rear bumper!

One thing I remember is the dealership telling me I needed proof of maintenance. I hated that because I like doing my own work, so I can’t show proof of an oil change if I change my own oil. I remember them saying “you would need a receipt from the shop, not just the oil” I’ve yet to have an issue with that but I definitely have no proof of anything lol.

I’m sure it’ll be a hassle though, I can’t imagine the dealership happily handing me over any cash.