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11-30-2008, 07:00 PM | #1 |
Drives: 2008 Toyota Yaris Join Date: Nov 2008
Location: San Antonio, Texas
Posts: 6
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Did I make a good deal? 2008 Toyota Yaris
I bought my used 2008 Toyota Yaris Base (two door hatchback) on 10/13/2008.
Sale Price: $12,995 Down payment: $1,000 Mileage on Odometer when purchased: 12,127 Monthly Payments: $298.47 *Toyota Extra Care Platinum 72 months/75,000 miles: $2,495.00 (Too much?) *The Optional Insurance (GAP): $203.01 Total Cash Price: $13,930.30 Including the Extended Service Agreement and GAP Insurance: $2495+203.01 $16,628.31 - $1000 down payment = $15628.31 Good or bad deal? After reading about the insurance stuff, I think I might cancel mine. |
11-30-2008, 07:34 PM | #2 |
Drives: 2009 Meteorite Metallic LB MT Join Date: Oct 2008
Location: Southeast Wisconsin
Posts: 810
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Welcome WMF1125 !!
I am not an expert on buying cars, but I think you paid a little too much. The total cost is about what I paid for a 2009 with 7 miles on it. I did get the Platinum extended service plan for about $1050. Could it be that since your car is used, it would cost more? I don't know. These cars are hard to find, especially a good used one. I do have to say that I didn't finance, so perhaps that is another cost I didn't figure into the equation. One of my co-workers already has 93,000 miles on his 2007 LB. He hasn't had a lick of problems, but is considering getting a service plan that would go beyond the 100,000 miles He says his dealership sent him a letter offering to buy the car back, as there is such a high demand for that car. He said he wouldn't trade it for anything. Don't feel bad if you might have paid too much. You will love the car, and save a lot of money on gas down the road. However, I would check into the costs of the service plan. I used to have a link somewhere that told the approximate costs of the plans, but I can't find it at this time. Be sure to post a pic and update your profile with the color, etc. Of course, if it is a Meteorite Metallic, they are the best. |
11-30-2008, 07:38 PM | #3 |
Drives: 2008 Toyota Yaris Liftback Join Date: Oct 2008
Location: Houston, TX
Posts: 1,054
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I have a brand new 2008 yaris LB with the power package/15" allow rims. MP3 auxiliary jack, floor mats... I got it about 2 months ago and I payed (after taxes/tags) $16,000, with a $2,000 down payment. That is $14,000 financed which equals $242/month for me. I think the insurance stuff isn't needed but that is just my opinion. I didn't get any of that.
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11-30-2008, 07:42 PM | #4 |
Drives: 2007 Yaris Liftback Join Date: Oct 2008
Location: Saint Petersburg, FL
Posts: 351
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12,127 on an '08? I have an '07 bought Jan 1, 2007 and only have barely 18,000 mi on her. Maybe I just don't drive alot....
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Visualize whirled peas. Peace, Love and Good Smoke! --Tommy Chong |
11-30-2008, 08:19 PM | #5 | |
Drives: 2008 Toyota Yaris Join Date: Nov 2008
Location: San Antonio, Texas
Posts: 6
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Quote:
I was afraid someone would say I paid too much...but after talking with my parents, the GAP insurance I bought was a good decision ($203). However, it's the $2,450 Platinum Extended Warranty that ruffles my feathers. I can't find REAL prices on the extended warranties anywhere (other than peoples' testimonials). I'm assuming they think of a random number depending on how gullible the client is. How long do I have before I can't cancel the warranty? By the way, I'm a first time driver and just received my license in September; bought my car in October; and have been on the road ever since. 20 years old with a 720 FICO credit score. Everything else on my credit report is in the 650's. O, I FORGOT TO MENTION, they gave me a 5.4% APR!! Good or bad?? |
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11-30-2008, 10:01 PM | #6 |
Tiny Giant Clothing
Drives: 2008 Blazing Blue Yaris 3D LB Join Date: Oct 2008
Location: Rochester, NH
Posts: 3,394
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i got mine brand new with power, coldweather, spoiler, carpet , armrest options for abou the same price.. had 5 miles on it
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Sold the yaris... rocking an 89 vw cabriolet now :) |
11-30-2008, 10:01 PM | #7 |
5.4% very good on a used car.
Gap excellant choice. Extended warranty ......... that was too high. The mark up on those is usually twice the cost or more. If the warranty is to be cancelled you must do it in person and in writing.
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some people are little slinkies. . . . .they are really good for nothing. . . .but they still bring a smile to your face when you push them down a flight of stairs. Come to the DARKSIDE..... We have candy
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11-30-2008, 10:01 PM | #8 |
Tiny Giant Clothing
Drives: 2008 Blazing Blue Yaris 3D LB Join Date: Oct 2008
Location: Rochester, NH
Posts: 3,394
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no down payment 8.65% though
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Sold the yaris... rocking an 89 vw cabriolet now :) |
11-30-2008, 10:03 PM | #9 |
Tiny Giant Clothing
Drives: 2008 Blazing Blue Yaris 3D LB Join Date: Oct 2008
Location: Rochester, NH
Posts: 3,394
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you have 30 days to get out of the extended warranty.. i went back and got my money back on it.. the car is super reliable.. its up to you.. GAP is a good idea though
they wanted to charge me $1650 for the Extended warranty.. that warranty is pure profit for them ... pretty much.. so they like to push you into it.. they are banking on the possibility (and likelyhood) that you'll never need it.. or if you do it probably will be for minimal things and they will still make out like the bandits they are
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Sold the yaris... rocking an 89 vw cabriolet now :) |
11-30-2008, 10:26 PM | #10 |
Drives: 2005 Scion xB Join Date: Nov 2006
Location: The Black Hills of South Dakota
Posts: 1,059
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Skip the extended warranty, you won't need it, it's a Toyota...
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11-30-2008, 10:49 PM | #11 |
Drives: 07 Yaris Hatchback Join Date: Jul 2007
Location: Lowell, OR
Posts: 35
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Agree with just about everyone ~ don't need the extended warranty. Git out of it if you can. Put that money into a savings account and enjoy your ride.
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11-30-2008, 10:54 PM | #12 | |
Drives: 2008 Toyota Yaris Join Date: Nov 2008
Location: San Antonio, Texas
Posts: 6
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Quote:
The reason why I did it was because I could finance it with my "low" APR. I heard that if you didn't buy it at the time of purchase, you would need to pay cash later on. I read you can only finance your extended warranties with dealership when buying your car. Websites have stated that 80% of all people who purchased an extended warranty and needed repairs within a five year period were "glad" that they bought it. And, if I do decide to sell the car, I'm sure my extended warranty will increase the value of my Toyota Yaris. But I don't plan on ever selling it--EVER! That's another reason why I should cancel it. It has been more than a month now...but I read somewhere that a person has sixty days to cancel their extended warranty; however, I could be wrong? Do I still have a chance to cancel? Without the Extended Warranty, I would save $2,495. The Federal Truth-in-Lending Disclosure says: Annual Percentage Rate: 5.4 % Finance Charge (The dollar amount the credit will cost you): $2279.89 Amount Financed (The Amount of credit provided to you or on your behalf): $15628.31 Total of Payments (The amount you will have paid after you have made all payments as scheduled): $17,908.20 <--- this I DON'T understand. When I calculate it, it comes around $17,251.06. Including my down payment, total sale price: $18,908.20. If we minus the Extended Warranty: $16,458.20 What do you think? -- By the way, I'm glad I bought the GAP insurance, too! |
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11-30-2008, 11:22 PM | #13 |
I really LOVE this car!!!
Drives: 08 Bayou Blue LB AT Join Date: Oct 2008
Location: Lexington, SC USA
Posts: 887
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We had taken out a maintenance warranty. I cancelled it. Had to be done in person and a form had to be signed. They did charge me $50, but credited the rest to the loan balance. So, I did not get any money back and they did not adjust the financing, but the pay off is less.
Make sure you get a copy. Give them 30 days or so then double check with the finance company and make sure you were issued a credit. |
11-30-2008, 11:38 PM | #14 | |
'09 5dr
Drives: 2009 Yaris 5-Door Bayou Blue Join Date: Oct 2008
Location: HI
Posts: 238
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Quote:
I bought 2nd Yaris earlier this month and I was offered 84 month (7 year) warranty (instead of 3 years) for $990. $2,495 sounds too crazy expensive to me.
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2009 5-Door Yaris LB Bayou Blue Pearl 2009 5-Door Yaris LB Black Sand Pearl |
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12-01-2008, 12:22 AM | #15 |
Drives: 2008 Toyota Yaris Join Date: Nov 2008
Location: San Antonio, Texas
Posts: 6
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I am going to cancel it as soon as possible. I thought they were being honest with me, but finding out about this rip off disappoints me. $2,450 IS outrageous!
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12-01-2008, 12:34 AM | #16 | |
Drives: 2008 Toyota Yaris Join Date: Nov 2008
Location: San Antonio, Texas
Posts: 6
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Quote:
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12-01-2008, 01:20 AM | #17 |
Gas Saver
Drives: Toyota Yaris Hatchback Join Date: Oct 2008
Location: Las Vegas, NV
Posts: 197
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bought mine used with under 5k miles on it, and I paid 12,400 cash.. bought it used and off just a person, not a dealership, and well... save you ALOT of money.. just takes alot more time to find the car. has the power package, and its auto
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12-01-2008, 02:05 AM | #18 | |
Drives: 2009 Meteorite Metallic LB MT Join Date: Oct 2008
Location: Southeast Wisconsin
Posts: 810
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Quote:
It is here: http://www.toyotafinancial.com/consu...Selected=Yaris Is your car a Toyota Certified Used Car or just a Used Car? Unfortunately, they don't list prices on the pages for those categories, just the new one. In my brochure, it says that one needs to cancel the agreement within 30 days, and the cost will be a $25 processing fee. In Texas, there would be no processing fee. However, since you are past the 30 days, they would "pay a pro rata refund based on elapsed time from the Agreement Application Date or elapsed mileage from the Agreement Application Mileage (whichever refund dollar amount is less), minus a $25 processing fee" "For Agreements issued in Alabama, Hawaii, South Carolina, Texas, and Wyoming, a penalty of 10% of the Agreement Purchase Price per month must be added to cacellation refunds not received by You within forty-five (45) days after the Administrator receives the cancellation request." If you haven't gotten a copy of the service agreement in the mail, you might want to call Customer Service: http://www.toyotafinancial.com/consu...ustomerService They recommend you take the service agreement back to the selling dealer. If you can't do that, then call: Toyota Customer Service 1-800-228-8559 I just noticed that the agreement I got in the mail shows mileage expiration of 75,000 when I paid for the 100,000 miles package as detailed on my car buying contract. Guess I need to call the dealership on Monday. |
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