What can I expect from the dealer when I try to cancel my extended warranty?
December 19, 2007 4:44 PM Subscribe
So I didn't research as much as I should have, and I financed my new 2008 Toyota today with the extended warranty. Now it sounds like I should have waited or gotten other quotes, but with all the number juggling, I lost sight of the bottom line. I'm going back to the dealer tomorrow to cancel the extended warranty. Can I expect the dealer to try to change the APR or any other aspect of the financing of the car?
posted by lychee to travel & transportation (12 answers total)
I called Toyota Extra Care customer service, and it sounds like I can either talk to the dealer to redo the agreement without the extended warranty price included or cancel through Toyota Extra Care in a few weeks. I think the dealer might then take this opportunity to raise the interest rate. But if I wait to cancel through Toyota, then my monthly payments won't go down, I'll just see the warranty price subtracted at the end of the loan. I'm not sure my stomach can take a renegotiation, but it feels like they'll be "keeping" my refund for 3 years.
Sorry for the long question, just new car buyer jitters and regrets.