Have any canucks purchased an extended warranty for their new Rav? If so what did you pay? I haven’t taken delivery of my ride as I’m still waiting for it to be built and have until then to decide what to do..
Canadian extended warranty worth the money?
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Have any canucks purchased an extended warranty for their new Rav? If so what did you pay? I haven’t taken delivery of my ride as I’m still waiting for it to be built and have until then to decide what to do..
I originally added the 84 month/120,000km ECP plan to my order of a 2020 Rav4H Limited, but had it removed a few days later. Dealership wanted $2809+tax for it. I decided that if anything significant was going to go wrong it will likely happen under the manufacturers warranty, and anything beyond that I am comfortable paying out of pocket for.
NC '19 Rav4 Hybrid Limited, Entune 3.0, Adaptive Headlights, Advanced Technology Package
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What you are proposing is essentially self insuring. I have done this on almost all of the cars I've had save the last and over a lifetime I am way ahead. My last was also a Toyota hybrid. The dealer insisted I had to have an extended warranty (lifetime powertrain). When the portion of the transmission called the pLock failed they replaced it for free after I reminded them that it was part of the transmission and thus of the drivetrain. So on that one I made out because I had insisted at the time of purchase I wouldn't buy it and they credited it to me anyway. This is dealer dependent. And of course you are talking Canada which makes it also different. In the US, you can purchase the extended warranty well after you buy the car, as long as it has been serviced correctly and is still under factory warranty. So check and see if that applies. And in the US there are dealers who sell the warranty at a discount. Again, no Canada experience. Hope someone can help.
In Canada, the extended warranty has to be purchased at the time you buy the vehicle. You can change your mind within 30 days of taking possession, but if you cancel the extended warranty it wont change your monthly payments at that point. The amount will be credited to your outstanding balance.
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I am in the same position. I ordered a 2019 XSE hybrid in June and I'm still waiting. At the time, they quoted me the same amount, $2809 for the 84 months/120K. I was able to negotiate the cost down to $2000.00. For that price, I told them to include it on the contract. I know I will be getting a 2020 so I hope they will still honor the same price I negotiated for the car & extended warranty.
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Ordered back in July - still waiting.
Added the 72/200K - the wife and I do a lot of driving.
Salesman bumped it down to $3500 - not that great but considering it is Platinum apparently I get a bunch of free oil changes.
I might end up cancelling considering the fuss I had with my Tacoma over the extended warranty.
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That’s not true. I purchased my extended gold warranty after 4-5 weeks ,from another dealer in another town.
Gold 6 yrs 160 000 for $2000 taxes in with a bit of hassle.
Pt Moody Toyota.
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I was told the 30 days as well...
Are you happy with Pt Moody Toyota service centre? I’ve ordered at Westminster Toyota but PoMo is closest for service for me.
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I actually bought my rav4 in New West Toyota , very little wiggle room on price , I think I ended up paying $49K all in for 2019 limited H
But they wouldn’t budge a cent on extended warranty.
went to Pt Moody , talked to younger Asian lady and she agreed to knock off couple hundreds $
yeah, very good experience with Pt Moody branch. I normally deal with New West Toyota as it’s very close to my work. No complaints about their service
Good to know about the service dept. I got price quote for Limited and they were one of the highest. Went to a few others and best quote was at Westminster. And PoMo was only dealership that did zero follow up so wasn’t impressed with their sales dept.
when I hear my car is in production I’ll go down there to see what price I can get.
NC '19 Rav4 Hybrid Limited, Entune 3.0, Adaptive Headlights, Advanced Technology Package
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Except it may have been sold to someone else by then. Toyota can't make them fast enough to meet demand. Get a firm deal now or ... And February won't be any better. Auto executives have been quoted that chip shortages may last through mid to late '23.
I have a $500 deposit on it, I don’t know how firmer a deal there is to make these days? Crazy times.
NC '19 Rav4 Hybrid Limited, Entune 3.0, Adaptive Headlights, Advanced Technology Package
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As long as you have something that ties a specific car to your deal with an agreed on price you should be good. Even if just an email. Yes crazy.
Yes, I have a form from dealership with price quote for the RAV4 Limited hybrid, with colour and the deposit.
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You should never buy the extended warranty at purchase. In Canada they throw in 3-4 free oil changes to make the sale.
You can buy the extended warranty up to the 36 Months or 60000kms
You can also buy it from any dealer in North America I got mine for my last Toyota at 35.6 months and for about half what they wanted to charge me on initial purchase date..
Just think of it this way if you total the car or sell it you wont recover that cost. And aside from the 3-4 free oil changes theirs not much benefit.
Would you purchase a second insurance policy on your home if you already had an active policy that covered everything?
You can buy the extended warranty up to the 36 Months or 60000kms
You can also buy it from any dealer in North America I got mine for my last Toyota at 35.6 months and for about half what they wanted to charge me on initial purchase date..
Just think of it this way if you total the car or sell it you wont recover that cost. And aside from the 3-4 free oil changes theirs not much benefit.
Would you purchase a second insurance policy on your home if you already had an active policy that covered everything?
Good point. Did you buy at a dealership near you in Canada?
NC '19 Rav4 Hybrid Limited, Entune 3.0, Adaptive Headlights, Advanced Technology Package
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But there may be a disappearing deductible that comes into play if you get a service at anywhere but the selling dealership. It could cost you $100 more per visit to have service at a non-selling dealership.
"Plans feature $0 or $100 deductible options. Deductible applies to each eligible repair visit. The deductible is the dollar amount you pay for authorized claims related to a single repair visit. If the disappearing deductible option is selected and the selling dealer of the VSA performs covered repairs, the $100 deductible will be waived. Otherwise the full deductible amount applies. "
Anyone encountered this yet when trying to use one of the not-your-local dealer sellers?
Years ago, I used to broker the sale of cars, and I can tell you that extended warranties are extremely high mark up items.
The regular advertised prices for extended warranties are generally 4-5 times what is expected to be the payout for those warranties. When I sold a car to someone, if the buyer wanted an extended warranty, I tried to talk him/ her out of it. In good conscience, I could not bring myself to sell them an extended warranty. If the customer insisted on buying the extended warranty, I would sell it to him/her at about 25% of my cost, and I still made a small profit on the sale.
Car dealers can sell customers a car at a price that would basically be a no-profit deal, but, if those dealers can sell the customer an extended warranty, a tire and wheel protection plan, a pre-paid maintenance plan, etc., they can turn that deal into one of their best profit-making deals.
Yes, there is a chance that you might make claims on an extended warranty that exceed the cost of the warranty, but that chance is very small. If, instead of buying an extended warranty, you put the monthly cost of the extended warranty into savings earmarked for car repairs, over the course of ownership of your next 5 cars, you are virtually guaranteed to be thousands of dollars ahead.
The regular advertised prices for extended warranties are generally 4-5 times what is expected to be the payout for those warranties. When I sold a car to someone, if the buyer wanted an extended warranty, I tried to talk him/ her out of it. In good conscience, I could not bring myself to sell them an extended warranty. If the customer insisted on buying the extended warranty, I would sell it to him/her at about 25% of my cost, and I still made a small profit on the sale.
Car dealers can sell customers a car at a price that would basically be a no-profit deal, but, if those dealers can sell the customer an extended warranty, a tire and wheel protection plan, a pre-paid maintenance plan, etc., they can turn that deal into one of their best profit-making deals.
Yes, there is a chance that you might make claims on an extended warranty that exceed the cost of the warranty, but that chance is very small. If, instead of buying an extended warranty, you put the monthly cost of the extended warranty into savings earmarked for car repairs, over the course of ownership of your next 5 cars, you are virtually guaranteed to be thousands of dollars ahead.
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