Is the '07 Camry 7-yr/100k-mile extended warranty refundable if no claims are made?

[ToyotaLexus]

Is the '07 Camry 7-yr/100k-mile Toyota extended warranty
refundable if no claims are ever made? (purchased from the
Toyota dealer in US)

Thanks!

[b0r1cha]

i HIGHLY doubt it.

[geoff5093]

I would agree, that's how Toyota (and all other companies who offer extended warranties) make their money. If they refunded everyone who never filed a claim, then they would never make any money, and would be loosing lots of money.

[Carzzz]

Is auto insurance refundable if you don't make any claim? I wish

[njerald]

There were some members in the past that have said they got local dealer warranties (not Toyota Platinum) and would get a refund if not used.

Maybe SET dealers??????

No refund with Toyota Platinum warranties.......

[98CamryLE]

With all due respect to several posters above, the only way to answer your question would be to read the contract that you signed when you agreed to buy the extended warranty from the dealer.

When I bought my Camry, they did offer a warranty supposedly from Toyota that would indeed give the price of the warranty back if no claims were made, minus $50 or $100. I don't have the fine print with me because I declined the warranty, but that was part of the "convincing" that they tried when I said no to the warranty.

As to the fact that they couldn't make money off of a warranty if they refunded it- they do make money- they get to hold your money for 5 years (or the duration of the warranty) and invest it as they choose.

[bandit]

Actually, the dealership I went to offered me the 7 yr/100,000 mile warranty. He said that if I got it and never used it, I would be refunded the whole amount. I still didnt get it anyways.

[camryen08]

Originally Posted by ToyotaLexus

Is the '07 Camry 7-yr/100k-mile Toyota extended warranty
refundable if no claims are ever made? (purchased from the
Toyota dealer in US)

Thanks!

When i purphase the plan, I asked dealer about this.
They give me a red form
"SERVICE CONTRACT REIMBURSEMENT GUARANTEE".
It lists vehicle and contract information, and said
I can get refund with this form in the future.

I'm not sure if i didn't ask they would give it to me or not.
BTW, mine is 6-yr/100k-mile , not 7-yr

[Tobeit]

If someone can report that they really got money back on a car insurance after it expired but was not used....I am going to start to believe in many other things as well. Having that in a small fine print with about 100 other exclusions, pre -onditions on page x etc might be true...but I highly doubt anybody will actually give you insurance money back.



PS: I need to add, if somebody does indeed... the insurance is probably not worth the paper it is written on when you actually need it.

... you got me thinking now, maybe I should ask getting my house insurance money back because nobody broke in, the house did not burn down, and was not destroyed by any flood or hurricane...insurance is risk management business...and if it is re-imbursable the business model does not work anymore - as pointed out above already.

[MDTRD]

I was offered an extended warranty when I bought my 00 Tacoma, new in June 00. The dealership said if I never made a claim against the extended warranty, they would refund my money for the warranty. If I used it once, no matter what the cost, then it was a no go on the refund. Oh yeah, I didn't get the warranty either.

[b0r1cha]

oh so i guess u can get ur money back o.O. dang i shouldve got it then

[wireless]

My understanding is that there is a pro-rata refund clause, but not a 100% refund. They pro rate your money back based on the mileage.

Here is the exact text from a Platinum Toyota Extra Care Service plan...

If this Agreement is terminated within thirty (30) days of the Agreement Application Date, and no benefits have been paid, we will refund the Agreeement Purchase Price, minus a $25 processing fee.
In all other cases, we will pay a pro rata refund based on elapsed time from the Agreement Application Date or elapsed mileage from the Agreement Application Mileage (whichever refund dollar amount is less), minus a $25 processing fee. If the Administrator has notice of a Lienholder or Lessor and a Release of Lien is not provided, any refund will be paid either to the Lienholder/Lessor or jointly to You and the Lienholder/Lessor, at the discretion of the Administrator.

[Tobeit]

Originally Posted by wireless

My understanding is that there is a pro-rata refund clause, but not a 100% refund. They pro rate your money back based on the mileage.

Here is the exact text from a Platinum Toyota Extra Care Service plan...

...that means if the insurance time is over, your refund is 0.


What this clause says, if you paid all your insurance for the 7 year upfront, you can get the amount back not used of the 7 year contract ...like when you buy an insurance and pay monthly.

[njerald]

Originally Posted by wireless

My understanding is that there is a pro-rata refund clause, but not a 100% refund. They pro rate your money back based on the mileage.

Here is the exact text from a Platinum Toyota Extra Care Service plan...

Thanks wireless, I was just going to get my contract.

Typical member confusion because they just repeat something that they thought someone told them..........

[rsjyss]

yes it is!

there's a $25 buck admin fee and it's pro-rated depending on current mileage

eg. my SE was written off in an accident and with 34K on the clock.

paid $880 through troy d. for the 7/100
got back $599

oh.. and when i first bought the car, i paid for the 7/100 via my dealership, found out here that troy d sells them for $880, got the original one refunded as well and lost only like $50 but saved over $700.

so in my case got 2 of them pro-rated and refunded