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Discussion Starter #1
Just wondering if you have experience negotiating the extended warranty on a used FJ (or any other vehicle)? I've never thought to do that but common sense tells me that I should and that there's probably room to move on Toyota's warranty price?

Anyone have any advice or experience negotiating the extended warranty? How much wiggle room is there on extended warranties?

For example, in Vancouver, BC, I spoke to a Toyota dealer earlier today and on a 2010 FJ with 30,000KM it would cost $1600 for a 3 year warranty (to 100,000 KM's) and $2200 for a 5 year warranty (to 120,000 KM's). That includes powertrain and bumper to bumper.

Thanks in advance :wave:
 

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YES!

When I bought mine back in 2007 I relied on someone from a dealer posting here and revealing dealer cost on a 7yr/100K extended warranty was something like $700. When buying, I told the sales manager that I knew his cost was $700 and I'd pay $800 for the warranty. He went for it. I think retail was around $1500.

Joe
 

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Discussion Starter #3
YES!

When I bought mine back in 2007 I relied on someone from a dealer posting here and revealing dealer cost on a 7yr/100K extended warranty was something like $700. When buying, I told the sales manager that I knew his cost was $700 and I'd pay $800 for the warranty. He went for it. I think retail was around $1500.

Joe
Thanks! Wow! That's a lot of profit. So, the warranty is from Toyota but they (Toyota) think it's reasonable to double the price and screw customers? Nice. I love how salesmen always try to sell you on the fact that they're "here to serve you and look out for you."

One more reason to hate buying a car. :flame:

I wonder if a 100% markup is normal?:flame: :flame:
 

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Finance guys make money on the interest rate too. They will get rates from banks, add a little in and make money on the deal that way too. Doesn't hurt to ask for a lower interest rate either.
 

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everything is negotiable when buying a car. when it comes to aftermarket warranty they hope you bite at their initial price offering. but you can usually get it down by half if you push hard. depends on how much profit the finance person is trying to make off you. like everything else when buying a car, best to do at end of month when they are trying to meet a quota.
 

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I accepted all of the warranties suggested by the salesman, but after taking delivery I cancelled all of them, which is allowed in my State.

Canceling those policies knocked a lot off of my principal and by making payments towards the higher initial balance the principal is dropping fast.

As for not having an extended warranty, well it's a Toyota, I'll take my chances and only time and circumstance will tell if this was a wise decision.
 

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You don't have to buy the warranty from the dealership where you're buying the car, you can always buy it after-the-fact from another dealership.

Something I've seen some people do in other car forums (Honda, Volkswagen) is to find a "warranty guy" that everybody on the forums calls to get a deal. Maybe we could find out who the warranty guy is at Wilson's dealership and see if we can get a standard mark-up, like $50 over cost?
 

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You can get an ext warranty up to the 3yr expiration of the Toyota OEM warranty. you are buying a warranty that doesnt start until after 3 year OEM warranty. I'd rather wait and see if my Toyota is having issues before splurging 3 years before i might need one.

Tonka Cruiser on the forum sells them.

These guys are known around the internet as giving 2 of the best prices.

Jerry Johnson
Warranty Manager
Midwest Toyota
Midwest Ford
Midwest Superstore
1100 east 30th
Hutchinson, Ks 67502
Phone 800-530-5789
Cell 620-664-8844
Email [email protected]

SCOTT DOHERTY
Action Toyota
978-431-5853
[email protected]
 

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Shop around, I paid too much and found out after the fact. The F&I guy said I can get a refund anytime before it goes into effect so we'll see if is was BS when I go back for a refund or better deal...
 

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you will get a full refund if you go into the dealer and cancel within 10 or 30 days.

it's on your contract how soon you have to cancel for full refund, which goes to the bank holding your title reducing your principle owed.
 

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These things are often sold by the finance manager for a 200% markup.

Also look at what it's going to cover.

Toyota covers the entire vehicle for 3 years, 36000 miles.
Toyota covers the power train for 5 years, 60000 miles.

So the warranty is only filling in what Toyota doesn't cover. It also depends how long you intend to hold on to the vehicle.
 

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These things are often sold by the finance manager for a 200% markup.
Ok i'll bite! I'm a finance manager at a Toyota dealership and people would tell us to get bent at a 200% mark up. If anyone wants more info on the warranties PM me..

Now as far as the poster that said we should mark them up $50.00 and sell them.. I'm sorry but for the work involved in doing paperwork then mailing off for signatures frankly isn't worth it. Keep in mind our dealer principal (owner) expects us to make him $$$ I'm not opposed to giving a huge discounts just ask..
 

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A lot of states have regulations on the Price. FL for example has a set double the cost for extended warranties no more no less. Buy the warranty just before your 36 month 3 year warranty is up to save on interest and from a state with no regulations. I have seen yamaha motorcycle warranties on ebay for $50 over cost so I'm sure you can find a toyota warranty somewhere cheap.
 

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westtexas86004 said:
As for not having an extended warranty, well it's a Toyota, I'll take my chances and only time and circumstance will tell if this was a wise decision.
I think you'll be fine. It's hard for me to justify the purchase of one on a Toyota. If we were talking domestic's I would change my tune.(Been with Toyota for going on my 10th year, worked for domestics for 6)
 

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Well, yes. There's plenty of room to negotiate on an extended car warranty. Here's a link that can tell you how to get the best price on an extended car warranty: How To Negotiate an Extended Car Warranty -- Edmunds.com. If it helps, you don't have to buy the extended warranty at the time of buying the ar. You have time till the standard factory warranty runs out, so take your time and think things through.
 

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I always run out of time before I do mileage, so extended is essential to me, providing I can continue to get my customary 40% discounts! It's basically an insurance policy! BE SURE TO GET ONLY TOYOTA FACTORY WARRANTY, NOT ANY OTHER WARRANTY, EVEN IF SOLD BY DEALER! You can buy from ANY Toyota dealer up until original factory one expires; but TOYOTA DOES NOT HAVE TO ACCEPT YOUR VEHICLE! If you've had extensive warranty work, you might be out of luck? Currently, you are getting 2 years of service with new purchase; but you will need to keep copies of all service and warranty work and be sure you're within service intervals, BASED ON YOUR TYPE OF USAGE, ACCORDING TO MANUAL! This should almost guarantee you vehicle will be accepted for extended warranty later! Even if all service done at dealer, keep your own records, just in case. Also, important if you ever choose to sell to an individual!
 

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Negotiating price should be the last thing you do. You need to look and see what is covered, limit of liabilities, who re-insures the policy, and review the company.

I had coverage in the past with National Repair Solutions, i used to work at the dealer in the F&I department so I did my research. They have a good rating with the BBB, reinsured and had the best price and payments so far. They paid for my transmission that was $4,000 with no problems. Hope that helps!
 
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