Cancelling warranty on new Truck to buy from diff dealer or 3rd party?

[brackis1]

Hey redneck sherbros: one of my buddies/clients just dropped a bunch of coin on a tricked out Toyota Tacoma.
I think he paid like 3k for a 8yr "platinum" warranty from the dealer, which seemed kind of steep.
Anyone had experiencing reneging/cancelling a dealer warranty to grab some podunk state dealer or a credit union version?

 

[mb23100]

I don't understand the question. So he bought a truck, paid 3k for an extended warranty and what the fuk is that last sentence?

 

[Dream Evil]

Seriously WTF does that last sentence mean?

 

[TeTe]

Don't ever buy extended warranties. I bought them twice and lost money on them. Unless your engine or trans blows up it's not worth it. Even then they fight you on covering it.

 

[TeTe]

I don't understand the question. So he bought a truck, paid 3k for an extended warranty and what the fuk is that last sentence?

Seriously WTF does that last sentence mean?

What he's asking is if anyone has cancelled a "premium" extended warranty through the dealer in favor of some cheaper warranty offered through some random no name source that may or may not be reputable.

 

[HeffDoesWant]

Not sure about warranty extensions but with insurances you frequently get a cooling off period where you can cancel for no charge.

As to off brand warranties I wouldn't touch em, unless they are free like buying second hand from a dealer.

 

[Cherry Brigand]

Seriously WTF does that last sentence mean?

Brackis is proof that not All The Fools Sailed Away.

 

[lsa]

What he's asking is if anyone has cancelled a "premium" extended warranty through the dealer in favor of some cheaper warranty offered through some random no name source that may or may not be reputable.

Why didnt he write that then?

 

[lsa]

"I need sherdogs help. Lets start by calling them a bunch of rednecks"

 

[TeTe]

Why didnt he write that then?

Well I'm just guessing lol

 

[Noveltymortar]

You can buy a Toyota warranty from any Toyota dealer up to the expiration of the 3/36 bumper to bumper warranty. I bought a Toyota Platinum warranty 5/100K for my 4runner (I do 20K per year) for $700 right before my 3/36 was about to expire. Your friend got ripped off hard. Cancelling the warranty he just bought should be no big deal at all.

Edit: don't buy a no name warranty. Stick with Toyota, just negotiate harder.

 

[brackis1]

Why didnt he write that then?

Well I'm just guessing lol

What is so confusing? TeTe got it right the first time. Those who didn't get what I was asking wouldn't have the answer I'm looking for.

 

[brackis1]

You can buy a Toyota warranty from any Toyota dealer up to the expiration of the 3/36 bumper to bumper warranty. I bought a Toyota Platinum warranty 5/100K for my 4runner (I do 20K per year) for $700. Your friend got ripped off hard. Cancelling the warranty he just bought should be no big deal at all.

That's what I suspected!
Hopefully he can still get a cheaper official dealer variant if he cancels the pricey variant he got.

 

[Noveltymortar]

That's what I suspected!
Hopefully he can still get a cheaper official dealer variant if he cancels the pricey variant he got.

I edited my post. Stick with the Toyota platinum, just negotiate. He can go to different Toyota dealers. The mark up on these warranties is massive.

 

[lakersfan45]

3k for 8 year warranty on a nice truck sounds like a decent deal but I know absolutely nothing about cars or warranties (although I have bought dealer warranty for cars lol)

 

[MoparOrNoCar]

lol @ paying for warranties.

There is a reason they're offered. You lose more often than you win.

Does he not know he's buying one of the more reliable vehicles out there?

 

[brackis1]

lol @ paying for warranties.

There is a reason they're offered. You lose more often than you win.

Does he not know he's buying one of the more reliable vehicles out there?

I think he does but is green to buying anything resembling a nice truck before.
I knew it was a profit margin bonanza as soon as he told me, but I'm not going to rain on his parade without some sort of productive alternative and getting him out of the original warranty tack-on.

 

[DrDune]

You get a prorated refund for the initial warranty.

You can buy an extended warranty at any point while still in the “factory warranty” period. Doesn’t have to be at time of purchase, and can even be an OEM warranty from a different dealer. Third party warranties are more difficult, especially if it’s an expensive repair.