Extended Warranty

[wvgasguy]

Originally Posted by tbh524

My refund was about half of what I expected.
I called the dealer and they said the pro-rated refund is from zero miles...I've "used" over HALF the "extended" warranty.

I read the post where someone called that an insurance issue but isn't that what my "enhanced" warranty I paid big bucks for was??.

1) Curious, was it a Toyota Platinum Warranty or a third party warranty.

2) I still can't believe you'd think Toyota would cover damage from a mouse.

If you're going to spend $1500 on a policy you should read it. Too many salesperson never fully understand the cars they sell, and come no where near understanding warranties. Not an excuse for them, they should know their products, but the warranty coverage is on the webpage and it's simply too expensive of a purchase to buy based on what the salesperson said.

[pdxrose]

Unfortunately some dealer employees don't tell the truth so I always have called the mfg. before buying any extended warranty so know that it pro-rates from day one, even during the first 36 thousand miles. I also thought that once the EW is "used" at all, there was no refund...so if you got any refund then that seems fair to me. It has not been used when I sold my Avalon, which was the first car I ever traded when I leased my CRV, so I cashed it out.

There are some threads on this site where P owners have used their EW big time. Not many but keep in mind that most of the people on this site are at the upper end of bell curve when it comes to keeping up with new maint and care memos, etc. and many do their own maint and repairs.

So I don't think the small number of EW "victories" disclosed on this site is an accurate representation - think its more. But more probably is still very low. Never the less, it always comes back to personal financial strategies and peace of mind. I always buy an EW but when varies.

This time I did so right away for $1,055 because I saved 8.2% sales tax which would have been charged after 7/31 and because I, personally, think that the cost will go up once the GEN III has a chance to shake out. Perhaps not the list price of $1,850, but the dealer "cost" which means that the discount price will be $1,300 or $1,400 in 3 years.

[patsparks]

The answer is in my signature.