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Canadian extended warranty worth the money?

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#21 ·
mikefocke said:
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?
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lesz said:
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.
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Thanks for your reply. I’ve never bought an extended warranty before, and I keep my vehicles over 10+ yrs. My current car is a 2008! No fancy electronics on it. But the new vehicles have so much electronics, sensors, etc I thought I’d get a warranty (if I can get it at a good price). Our other suv (Mercedes) is a pain. Passenger heated seat only works when it feels like it, doesn’t move back and forth anymore, gets warnings on dash about a light off that is on. Ugh.
My current car never needed a warranty, and glad I didn’t get one. 2008 and never had anything but routine maintenance. But doesn’t have any fancy sensors and electronics on it.
 
#22 ·
Suggest contacting Toyota Canada for further information. Extended warranties can be had for U.S. buyers at huge discounts, possibly the same are available in Canada, but if buying one direct from Toyota Canada they will charge MSRP, but you might be able to bargain with a Toyota dealer for a better deal.
www.toyota.ca

Supplementary Coverage | Toyota Canada

Toyota Extra Care Protection Service Agreement plans offer worry-free driving. Explore now.
www.toyota.ca www.toyota.ca
 
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#23 ·
Blogson said:
Suggest contacting Toyota Canada for further information. Extended warranties can be had for U.S. buyers at huge discounts, possibly the same are available in Canada, but if buying one direct from Toyota Canada they will charge MSRP, but you might be able to bargain with a Toyota dealer for a better deal.
www.toyota.ca

Supplementary Coverage | Toyota Canada

Toyota Extra Care Protection Service Agreement plans offer worry-free driving. Explore now.
www.toyota.ca www.toyota.ca
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I had contacted The US Toyota and they told me Canadians no longer can buy US warranty for Canadian cars since 2018. So I’ll contact various Toyota dealerships near me to see if any will give me a good price. I think I have 3 yrs to purchase it.
 
#24 ·
SueM said:
I had contacted The US Toyota and they told me Canadians no longer can buy US warranty for Canadian cars since 2018. So I’ll contact various Toyota dealerships near me to see if any will give me a good price. I think I have 3 yrs to purchase it. Fingers crossed I can find something. It stands to reason some dealerships here will sell cheaper. Like the US. Someone I was talking to said he got the local dealership down but only by $300 which is nothing. That’s only 10% or a bit less.
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#25 ·
Given the cost of electronics and the amount of tech in these Rav4s, I'm thinking of buying the extended warranty. I have to check into what exactly is covered however before making the move on our 2020 XLE. Like some others here, I've never purchased an extended warranty before, but then my 1999 4Runner didn't set me back any major costs over 20 years apart from normal wear costs.
 
#26 ·
northofsouth said:
Given the cost of electronics and the amount of tech in these Rav4s, I'm thinking of buying the extended warranty. I have to check into what exactly is covered however before making the move on our 2020 XLE. Like some others here, I've never purchased an extended warranty before, but then my 1999 4Runner didn't set me back any major costs over 20 years apart from normal wear costs.
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Please post what pricing you are quoted. The price is a bit negotiable.
 
#27 ·
Not to thread jack but facing a similar issue myself. Are there any dealerships which are known for selling Toyota warranties at a discount? I’m coming from the Ford world and Flood Ford is known for selling extended warranties at a deep discount. And can you get the extended warranty at any point till 3yrs/36k miles like mentioned above? Also can the warranty be bought from anywhere? Would be on a ‘22 RAV4 H.
 
#28 ·
JTBros said:
Not to thread jack but facing a similar issue myself. Are there any dealerships which are known for selling Toyota warranties at a discount? I’m coming from the Ford world and Flood Ford is known for selling extended warranties at a deep discount. And can you get the extended warranty at any point till 3yrs/36k miles like mentioned above? Also can the warranty be bought from anywhere? Would be on a ‘22 RAV4 H.
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You have a private conversation here.
 
#29 ·
JTBros said:
Not to thread jack but facing a similar issue myself. Are there any dealerships which are known for selling Toyota warranties at a discount? I’m coming from the Ford world and Flood Ford is known for selling extended warranties at a deep discount. And can you get the extended warranty at any point till 3yrs/36k miles like mentioned above? Also can the warranty be bought from anywhere? Would be on a ‘22 RAV4 H.
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Did you get an answer for this? asking for a 2022 Rav4 H
 
#33 ·
Picking up a Sequoia next week and unfortunately the discount US places can no longer sell the US warranty on a Canadian vehicle. Did find a discount at a Canadian dealer but still $2,000 more than the US price with exchange would have been.
 
#34 ·
458994 said:
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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Not true. You have until the end of the 3/60 warranty to purchase an extended warranty in Canada. At least that was the process for all 3 vehicles I purchased from Toyota.

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