Buying an Extended Warranty? READ THIS FIRST!! - Page 2 - Toyota RAV4 Forums
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post #11 of 372 (permalink) Old 01-31-2012, 10:34 AM
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Awesome! I just paid full price for a 7/1000 from Toyota on our new RAv4. I knew there was a better deal to be found but wasn't sure where to get it. I will be cancelling the one I have now and calling Jerry!
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post #12 of 372 (permalink) Old 02-19-2012, 05:13 PM
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I've always wondered just what these warranties really cover. I doubt its for tires, brakes, belt or worn suspension components. Everybody always talks about a transmission, but how often do they actually fail (with regular maintenance and responsible driving?) Maybe the warranty covers the idler pulley or alternator? At 90k on our 2008 RAV, the only "repair" has been to change the water pump which I did myself for $150. All other items have been normal maintenance.

The price for the warranty from Jerry look more favorable than others that are out there.
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post #13 of 372 (permalink) Old 02-19-2012, 08:45 PM
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Originally Posted by WJBertrand View Post
Why not invest the amount you would have paid for an extended warranty into an interest bearing account of some kind? That way the money still works for you and if you luck out and never need to repair the car with it, you can keep the money. Add to this account when you buy your next car and before long you may have enough for a down payment on a brand new car in the future.

Save your money.
Love this thinking. I always make my money work for me not the other way around. This is why I can retire early.

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post #14 of 372 (permalink) Old 02-22-2012, 05:01 PM
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Thanks for the advice on this thread. I figured that for my situation and the used RAV4 I just bought, it may pan out to have the extended warranty. I learned a couple of things that I'll share:

1. If you finance the car and roll the extended warranty in with the loan, you don't actually get a check in the mail for the refund - the dealer I bought from would only allow the refund to go back to the lien holder (TFS, in this case). So, your payments don't get changed, you just make fewer of them, since they deduct the purchase price from the balance. Not great, but technically you get your money back. It's okay for me since I'm going to pay off the loan anyway, but beware!

2. Jerry Johnson at Midwest Toyota is a really nice guy to deal with. He must make a small margin, but he really doesn't need to "sell" them - he just gives you the prices. I recommend buying from him if you decide to get an extended warranty.

3. By all means, DO THE MATH on your driving habits and the coverages provided. The dealer led me to believe that there was only one extended warranty (7 year/100k miles). Jerry showed me the other options, and I went with a 5 year/100k that saved me nearly a thousand dollars over the dealer, and my mileage will time out about the same time as the clock does. I would have hit 100k miles WELL within 7 years, given my projected driving habits.

This is my first post on this board, but so far, this free service has saved me a bundle! Thanks to everyone who contributes! I'm looking forward to participating.

-Nathan
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post #15 of 372 (permalink) Old 02-22-2012, 05:10 PM Thread Starter
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3. By all means, DO THE MATH on your driving habits and the coverages provided. The dealer led me to believe that there was only one extended warranty (7 year/100k miles). Jerry showed me the other options, and I went with a 5 year/100k that saved me nearly a thousand dollars over the dealer, and my mileage will time out about the same time as the clock does. I would have hit 100k miles WELL within 7 years, given my projected driving habits.
This is great advice, Nathan! Since I only average about 6600 miles a year, I got the 8 year/75000 mile warranty. The clock will probably run out way before I get to 75000, so this saved me a lot.

Excellent first post!

Help RAV4World members help you by providing your car's operating location in your profile page. Climate can cause a RAV4 in Dallas Wisconsin to experience a different set of issues when compared to the same model in Dallas Texas.
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post #16 of 372 (permalink) Old 02-23-2012, 03:08 PM
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Quotes from Jerry

Just talked to Jerry and here are 2 quotes he gave me -

5yr - 100K = $584
6yr - 100K = $689

The five year quote was just what I needed...and a real pleasure to do business with him!

Art
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post #17 of 372 (permalink) Old 02-23-2012, 03:46 PM
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I talked to Toyota today, to cancel my 6/100 warranty I bought at the dealer.

I told her I found a better deal, and what Jerry's price was. She shared how much above dealer cost that was. I thought it was extemely fair.

Dealers are making a VERY NICE profit on the warranty if they are selling at full price. The profit margin at full price is almost obscene.
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post #18 of 372 (permalink) Old 02-23-2012, 08:11 PM Thread Starter
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I talked to Toyota today, to cancel my 6/100 warranty I bought at the dealer.

I told her I found a better deal, and what Jerry's price was. She shared how much above dealer cost that was. I thought it was extremely fair.

Dealers are making a VERY NICE profit on the warranty if they are selling at full price. The profit margin at full price is almost obscene.
OK, spill it! What did she say was the dealer's cost and the full price?

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post #19 of 372 (permalink) Old 02-24-2012, 03:33 PM
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Toyota Warranty From Jerry


Thanks to this site: Sent Jerry a E-Mail, requested a Quote, imediate call back and an E-mail response. Went for a Platinnum $0.00 deductable 7yrs. 75000 miles @ $559.00.
Vehicle must be within Toyota,s basic warranty and will be dated from original purshase date.
He will need the vin #, 2 or 4 wheel drive, mileage, Purchase date.

Great Guy: Other Quotes recieved were: $1345. , and $745.00. for same coverage.

Reviewing these threads: Rav 4 problems escalate at 5-6 years and after 60,000 miles (warranty expiration time) even though I would hope that 2011Rav 4 are more reliable (ECM's) than the 2006's & 2007,s. Have purchased Honda's & Toyota's for last 30 years but vehicles are no longer shade tree challenges. Most likely will not go to term on this warranty, but now have peace of mind if an unforscene clitch occurs. GREAT PRICE !! RECOMEND YOU ALL CALL JERRY !!!
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post #20 of 372 (permalink) Old 02-24-2012, 05:31 PM
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OK, spill it! What did she say was the dealer's cost and the full price?
6 years/100K is $1450 at full list. Jerry is $689 and she said that was only $100 over dealer cost. So that must mean that the dealer cost is $589.

So, at full list they are marking it up almost $900, and about 246%!
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