Another extended warranty question

[jmg7234]

Just purchased an '08 HL 2WD with 38k miles on it. This is a Toyota Certified Vehicle. We were offered the extended warranty out to 100k miles for $1290. Told them we'd let them know Monday. The brochure says it's only available at the time of vehicle purchase from the dealer. I see that lot's of folks are buying them from other dealers who appear to be discounting the product, e.g., Midwest Toyota, etc. Can I do this with a used Certified vehicle or am I really limited to the dealer we purchased from?

Many thanks. Great info here.

Jim

[nov0798]

Dont see why you couldnt, unless they are not offering the Toyota warranty? I thought you could buy the warranty as long as the original warranty was still in place???

[jmg7234]

Thanks. It is the Toyota warranty but I'm really not sure how it works with a used car. I guess I'll check with some the dealers I've seen mentioned who seem to discount the extended warranty.

Jim

[kps88]

Originally Posted by jmg7234

Just purchased an '08 HL 2WD with 38k miles on it. This is a Toyota Certified Vehicle. We were offered the extended warranty out to 100k miles for $1290. Told them we'd let them know Monday. The brochure says it's only available at the time of vehicle purchase from the dealer. I see that lot's of folks are buying them from other dealers who appear to be discounting the product, e.g., Midwest Toyota, etc. Can I do this with a used Certified vehicle or am I really limited to the dealer we purchased from?

Many thanks. Great info here.

Jim

I presume you mean the extended "bumper/bumper" warranty that would take the place/extend the 3/36K warranty? I also purchased a CPO 2009 Camry and was offered to extend my 3/36K to match the certified warranty for $1,000. I started a thread myself and no one seems to understand the "type" of warranty I am asking about. People talk about a "platinum" or certified warranty, but the one we were offered extends the original 3/36K warranty. I have to call some of those other dealers and see if I can get a better price.

[kps88]

my dealer told me I could get this warranty added anytime within the 3/36K (before it ends).

[Pittsburgh]

[EDIT: Oops, just saw I sorta missed the point of your question. I have no idea if you can buy it from a 3rd party. I'll leave my response in the hope that will be a little helpful, but I realize that it does not directly address your question.]

I just bought a certified '08 highlander with similar mileage as well. I got the "wrap around" warranty for an additional $810. The product that they are selling you costs the dealer 650 bucks. Whatever they can get on top of that is profit for the dealer. Once they sell you the product, they pay Toyota their cut of the money and go about their business, never having to worry about the warranty again. From there on out, Toyota pays for the repairs to your vehicle that are covered by that warranty. (This was explained to me by a Toyota salesman that I did not buy from, but they will likely be receiving my future business.)

Once I got the dealer down to their absolute lowest price (the point where they told me to leave because they can't negotiate any lower) I told them if they would give me a deal on the "wrap around" warranty, then I'd buy today. They took me into their closing office and told me they'd give it to me for $950, I told them I wouldn't pay any more than $750. Then the finance manager explained that they pay $750 for the warranty, and they need to make a profit so he couldn't go any lower than $810. I wanted the Highlander so I agreed.

**Notice that the guy that I wasn't buying off of told me it cost them $650, and the place that I was buying off of told me it cost them $750. Someone isn't telling the truth.

The reason I explained all that to you, is that I think the price you were quoted is very high, and they have a lot of room to come down on the price. (I was told that Toyota suggests that the dealer sell these for $1400 -- so they technically already came down on the price). Even if they sell it for $800 they are still making $150 profit and it is no skin off their back.

The problem is that you put yourself in a bad position to negotiate because they already sold you the SUV...and like I said, if you don't get the warranty it is no skin off their back. If I were you I might call up and tell them you are having a hard time with your finances but you'd be able to swing the warranty if the price was closer $1000 -- and that you'd really appreciate anything they could do. That price would save you $290, and they'll still make $350, and Toyota would get their $650. It's a win-win-win (dealer-you-Toyota). I'm not sure you can hope for a much bigger discount having already bought the car.

Hope that helps. --John