sportmaned

well when i purchased my tC abot 2 months ago in November, I financed the 7 year extended warranty with it. Well, ive gotten flamed for getting this, and i regret it, is there anyway to refinance and not get it? My dad is going to refinance everything soon because hes getting a new job, can i take it out of my finance? thx

ShadyEye16

You can cancel the ext. warranty at any time before its term starts, however, all it will do is lower your principal, not your payment; you will just pay the loan off sooner (if the warranty cost $1000, and you payment is $200, you'll make 3-5 less payments). If cancel the EW, then refinance, it will have lowered the amount you are financing so yes, your payment will be lower (even lower if you are refinancing to get a lower APR). Just make sure you cancel the EW before you refinance the loan.

sportmaned

thanks for the help shady

since ur a dealer, can i get some answers on warrant? like the reason why my dealer said i should get it is because im a first time man driver, and he says my clutch or tranny prob wont be great in like 4 or so years, but i really picked up on manual pretty quick, havnt done really any damage to the car that i can notice, but then everybody here says that it doesnt cover wear and tear, so whats the point of extended warranty? is there really going to be manufacture defects after 7 years and not in 3?

ShadyEye16

I also wanted to add that an extended warranty is never a bad thing. It depend on the details of the warranty, some cover everything the origianl bumper-to-bumper does, others cover hardly anything at all, and others still fall in between the first two. The first kind is really the only one I would reccomend. If you are in a financial situation in which you can easily afford a few hundred or even a few thousand dollars for a car repair, then you don't really need a warranty, but if you don't have the luxury of being able to do that, then a warranty is a good idea. What I tell my customers is that they should get a warranty for at least as long as they are financing, that way they protect themselves from have a car payment and a big car repair bill in the same month, which can put a lot of people in a tough spot. Generally speaking, you will need a warranty later in the car's life as parts get old and are more vulnerable to breakage. Scions are Toyotas and are thus very reliable, but it is better to be safe than sorry IMO.

Cybergypsy

If you are keeping the tc...keep the warranty, you will need it!

ShadyEye16

Wear and Tear applies to stuff like brake pads, wiper blades, oil changes, etc. Basically stuff that is supposed to wear down and be replaced in a set amount of time. Warranties cover things that are not supposed to wear down or break within the time that they end up wearing down or breaking. It also depends, unfortunatly, on the dealer you take your car to. While one dealer will tell you something is not covered under your warranty, another might tell you the exact opposite. They might say that they don't have records of you always changing your oil on time or that certain mods on your car were the cause of the damage. Your best bet is to read the warranty info/rights books you got in your Scion manual binder, and also read over the Ext. warranty contract you should have gotten in the mail. The more you know, the less likely you are to get screwed out of a warrantied repair.

litobirdy

He cant take it off anymore. Its been 2 months since he bought the car so obviously it started.

ShadyEye16

the extended warranty does not start until his standard 3/36,000 waranty is up