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Hi All,


I just purchased a 2012 RAV4 (V6 AWD) with 51,000 miles on it. It's a real beauty ... something I've dreamed about having for the past few years. I've been driving a 2001 V6 AWD Highlander and it's been a peach for me for the past 11 years since I purchased it, but I wanted something a bit newer and smaller.


I haggled on the price and feel I got a pretty good deal ... not a steal, but FAIR. I'm a single female and was doing this for the first time on my own. I was scared, but I pulled on my 'big girl' pants and just stared the manager down. I even walked out of this Toyota dealership for a few hours, knowing they would contact me and make the deal happen. They did.


Well, at the signing of the papers with the financial manager ... I was offered an extended warranty (the Toyota Platinum). Back and forth ... back and forth ... he kept changing prices, length of warranty, etc. until I said, "Yes". I had bought one for the Highlander many moons ago when I purchased that vehicle and NEVER used it. I was tired, it had been a long day, and I did want some peace of mind. By the way, the car was NOT certified (they don't certify a lot of cars because they say it tends to price them out of the market with the final price needed).


I KNOW there are a ton of threads on this subject and I have looked them over, but I'm still unsure what to do.


I got full coverage for 5 yrs/60K miles for .... drum roll please (and you probably should be seated before reading further) ... FOR $2905. OMG ... I got home and the next day, after researching this, I think I've been ripped off.


I'm not sure what to do going forward. I know I can cancel this and I'm 99% sure that's what I'm going to do. I am VERY good with money and put $100 away per month to handle car problems (and I already have over $1200 saved). I still would like to get a good warranty to cover me for a few years just in case ... but I don't want to spend a fortune.


Any ideas? Again, this car is now OUT of the 3 yr/36K manufacturer's warranty period. It still has about a year left on the 5yr/60K powertrain warranty. I just don't know what to do.


I'm very appreciative of any advice or direction you folks could give me, including hitting my head against the wall for saying 'yes' to the hard pressure tactics for this after a VERY long day with them!


Happy driving to all ... and I still LOVE my 'new' used car!
 

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I agree, you've been had. $2905 :wall

I refuse ALL extra warranties PERIOD so I can't advise you what to do at this point but I'm quite sure we have members who can and will help you out, literally.
 
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Dear stop.....you say you got 5yr/60k for 2900 bucks. Does that start from the day you bought it, or the day it was born(2012)? If the later, yes you got ripped off. If the former, well, you could make an argument for it. Maybe. Your car has an excellent rep for reliability, no need for any extended warranty, IMO.
 

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My advice, cancel the extended warranty, they are usually a huge rip off.

If at all possible, learn how to maintain and repair it yourself. I know it sounds daunting but it's easier than most people realize and it will save you a huge amount of money in your lifetime. Youtube is a wonderful resource. If that's not an option get an honest independent mechanic.
 
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I was under the impression that the genuine Toyota warranty had to be purchased PRIOR to three years or 36,000 miles. I know both of ours were that way.

Were it me I would cancel it immediately and take my chances. You are thinking ahead by putting money away for repairs, normal maintenance items, etc. The 2012 is the sweetheart in the V-6 lineup (and the last:cry:), no bad things stand out as in earlier models.
 

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The 2012 is the sweetheart in the V-6 lineup (and the last:cry:), no bad things stand out as in earlier models.
I can vouch for that. I've had my 2012 for over 3 years (about 27,000 miles), purchased new and made in the last month they were dropping V6s into them :cry:, without the slightest problem :thumbs_up:.

.
 
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I've had bad experiences with extended warranties, i.e. the fine print. I budget $100/month for major repairs. As of 1/31 there is $3,700 in the account with no withdrawals yet which I can spend on some thing else if nothing goes wrong.
 

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Cancel it! I'd rather add $2900 to the savings you already have and use it IF you need to. That way if your car had a problem after the warranty you still have money to fix it at any time.
 

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I never buy extended warranties on ANYTHING.

Bathtub theory applies to most everything.

As others have said the companies ALWAYS try to duck, dodge and deny not paying your claims. It is always a fight.

Whenever I am offered one I politely decline and if the salesman or clerk persist I simply tell them if ______ thought the extended warranty would EVER cost them money they wouldn't offer it to me now would they?

End of discussion.
 

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I bought a dealer warranty... then immediately canceled it. I came across an issue the week I first got the car, and was impossible to contact these guys. They sell it to you as $X/mo, but when you see the total compared to things that could logically happen to the car not covered by insurance... it's a big money waste IMO
 

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I think you are probably getting the drift that you should cancel the policy. Good advice. If you were talking about a vehicle that had a proven and well-documented poor performance and reliability record (read: Jeep), then it MAY be worth it. Toyotas in general and Rav4s in particular have a great reputation for reliability. I think the dealers are betting on us remembering the bad old days when cars were built to break down: built-in obsolescence. I remember before any "long trip" we would take the old Chevy in to have it "checked out" to make sure it would make it to wherever we were heading. We now think nothing of jumping in and putting 2-3000 miles on the car without doing much more than checking the oil level. We have put 50K on Zepheretta (2005 Rav4) and have only replaced the alternator and serpentine belt (love that word!) and break pads, both of which we did ourselves.

I bought an extended 100K warranty on Goose (2001 Tacoma) not knowing better for, I think, $2500. She now has over 160K without a whimper. I think I changed the brakes once....

Devils advocate: this would be $600 a month for the course of the warranty, unless you drive over 12K a year, which is about average. If you are still under the drive train warranty, it still wouldn't be worth it....couldn't hold up the devil thing.>:D

It is well known in critics of any industry that extended warrantees on anything are just a bad idea.

Dump it.... put that $600 in a Car Savings Account and have a party with it in 5 years.:D
 

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As others have said, cancel it and make sure the dealer actually cancels it. Follow up every week until the refund gets posted on your loan.
 

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I was under the impression that the genuine Toyota warranty had to be purchased PRIOR to three years or 36,000 miles. I know both of ours were that way.
This.
It either needs to be on one within the original 3/36, or on a Certified PO.

But even on a NEW vehicle, $2900 is double what the 8/80 should have been.
That was PURE profit for the dealer.
 

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From my research on the Toyota VSA, the dealer can sell it for HALF price and still make a decent profit. That's what Jerry in Kansas and Toby in Shreveport are doing.
 
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Did I miss when you changed out of the BIG GIRL pants? Yes you paid too much. He got some of the money back
given to the one in BIG GIRL pants. Cancel it ! Do some research, you can do better on produce and price.
 

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When I bought my '09 CRV I refused the extended warranty but my friend who drove me to pick up the car pulled me out of the dealer and convinced me to take the warranty because the warranty came down form $2,900 to $1,300. First offer was $2,900. At 1300 my friend got me to get it.

When I got home I immediately contacted the dealer to cancel it. One week later I went back to the dealer to cancel - all I got was the run a round.

I muscled up and certified mail Honda directly, with few phone calls a rep from Honda called me and stayed on the phone until I received a fax confirmation that the warranty was cancelled and a check will be issued for the full amount.

I got my full refund and never once had to used the warranty. Today the car still has drive train warranty from the manufacturer.

Just sharing my experience.

I am on this forum ready to get a Rav4.
 

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When I bought my '09 CRV I refused the extended warranty but my friend who drove me to pick up the car pulled me out of the dealer and convinced me to take the warranty because the warranty came down form $2,900 to $1,300. First offer was $2,900. At 1300 my friend got me to get it.

When I got home I immediately contacted the dealer to cancel it. One week later I went back to the dealer to cancel - all I got was the run a round.

I muscled up and certified mail Honda directly, with few phone calls a rep from Honda called me and stayed on the phone until I received a fax confirmation that the warranty was cancelled and a check will be issued for the full amount.

I got my full refund and never once had to used the warranty. Today the car still has drive train warranty from the manufacturer.

Just sharing my experience.

I am on this forum ready to get a Rav4.
Make sure you don't bring that same friend with you when you pick up your RAV. (just kidding!)>:D
 

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If you are going to keep your vehicle thru heck or high water like I am and purchase it brand new I think they are a good idea as my salesman told me where you think the most money they make comes from the dealership? It is in service.....and with these computer systems now if one thing goes wrong it can throw off the whole vehicle......and cost u THOUSANDS!!! they really cannot deny claim unless it is with something like brakes battery blah blah blah...... just say n....
 

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They make their money on used cars sales, overpriced service, and sales of silly things like expensive extended warranties on a Toyota. The bulk of what they're making in service is from maintenance items that wouldn't be warrantied anyway.
 
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