Extended Warranty question (Fidelity??)

I bumped into the threads about extended warranty and how cheap it can be sold compared to what your dealer pressures you into buying.

I pulled the paperwork to see what I got and what I paid for it so I could compare it. I have a contract from Fidelity. I have read some bad crap about Fidelity warranty.

So, did I buy actual Toyota warranty or did they screw me over with some third party Fidelity shit???

 

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This link may explain it better --> http://www.consumeraffairs.com/auto_warranty/fidelity.html

I had the same problem when I bought my 2009 Tacoma. The dealer would NOT sell me a "real Toyota OEM warranty".

I was tricked into a SET warranty and later requested my money back when I got the warranty paperwork.

IMO, many dealers in the SET Area have been pushed by SET to sell these policies.

You can always get full amount back if within the cancellation period, if not in that period, this the refund is prorated.

Personally, I will NEVER have an extended warranty unless it is from the OEM.

Good luck man ... personally, I do NOT trust a SET warranty ... I want ONLY a Toyota OEM Warranty.



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I really beat up the guy that closes the deal at the dealership. He tried like hell to sell me the extended warranty. He said it was a 5 year warranty. I reminded him that the first 3 years come with the truck - so what he's trying to sell me is two additional years of warranty. The cost was in the hundreds (I forget exactly). I told him it was only worth about $125. He started sweating. Then he said "OK, $125". I then declined. Ha Ha! I told him if something was going to break it would probably be in the first 3 years. I did get the 1.9% financing through Toyota. They take it out of my checking acct. every month. I hardly feel it.

 

I am so pissed.. not only did they charge me $1,300 for their 6yr warranty (of which the first 3 is of course Toyota OEM warranty), but they also sold me something pretending it is OEM warranty.

Prorated is fine. 4 months into 6yrs means I should get 85% of my money back, minus the $50 admin fee as detailed on the back of the soon-to-be toilet paper.

I am L I V I D

 

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Remember, there are Toyota dealers on here that sell the Platinum $00.00 deductible, 7 year/100,000 mile Toyota OEM warranty for my TRD 4x2 for around $800.00 and 4x4s are a little higher.

IMO, you are making a smart move in canceling the SET warranty, take a smaller hit now and go with Toyota OEM warranty within the first 36 months or 36,000 miles.

My 2009 has about 16,000 miles and is about 19 months old ... so in the next year I will buy a Toyota OEM Platinum, $00.00 deductible, 7 year/100,000 miles.

Yeah, I was pizzed too when I got my policy and it said SET and not Toyota OEM ... .... The business office (where the paperwork is done) is the place to be super cautious.

PS ... Keep your paperwork and go to dealer to cancel if possible ... the dealer may require your signature and the warranty policy copy to cancel and get your money back ... mine did that stuff. And SET mailed the check back to the dealer and a month later you get the check. Be VERY careful when you do this and keep good records.

PPS ... http://www.tacomaworld.com/forum/te...ho-bought-extended-warranty-there-tacoma.html


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I'm already on that thread, and yeah I plan a trip to Columbia this week. I'll have my own copies of the documentation. If they need the originals they can have them, but there will be records of everything. Hell yes.

Also, I financed the premium of the warranty so I figure the refund will go to the bank. TFS didn't have the best rate for me so I went with a local bank.

At least I don't have to pony up $800 or so for the warranty right now, because I can't afford it lol. I have 25,000 miles to go

 

In my opinion cancel that warranty! I have them and every time I use them the repair shop has to jump through hoops to get anything covered. The will not pay for oem parts cause aftrmarket parts are cheaper. I absolutely hate them! My repair shop doesn't want to even deal with them and said its one of the hardest warranty companies he ever dealt with. They will screw you a they have me

 

Thank god I found out about this scam now. I can't imagine how many people in my Toyota area have this Fidelity warranty and don't even know what they overpaid for.

If I do get a check in my name I'll be able to instantly purchase the TFS warranty.

I paid $1,300 for my crappy maybe-warranty for 6yrs/72k while the MSRP for the TFS warranty (6yrs/75k) is $975. Unreal. If I get anywhere near $1,100 back I don't know how much coverage I'll get but I'll be jumping for joy.

 

This is what Troy sent back to me:

Considering I paid $1,300 for the 6yr/72k Fidelity plan I think I might go for the 7yr/100k OEM warranty. I can always sell the remainder of the warranty back if I sell the truck before 7/100.

 

I don't know how many miles you drive a year but if it is low you can also get an 8 year 100 or 8 year 125K plan. I don't know if Toyota still offers it but I got an 8 year 100K $0ded Platinum on my 09 4x4 sport from Troy for $1100. I think I am going to get an 8 year 125K for my wifes 2010 Venza. I like the 8 year gig.

 

I used to drive a shitload of miles, but that was on my previous vehicle and a different job configuration. I think I'll drive the usual national average of 12k/yr now. I'm working from home and all I do is drive the boy to school and back with the occasional vacation and weekend trips

I don't know if I'm going to keep my 6/72 coverage and pocket the difference, or upgrade the coverage using the full refund. Got to figure out what exactly I need.