Hey all, new member here.
I just got a 2003 Sequoia Limited with 127k miles. Blue book was about $14.5k and I my purchase price was $13.5k.
I asked about a warranty and the finance manager said that he could give me a good deal on all maintenance and parts for the next 6 years/72k miles. After all the paperwork was signed I asked again about the warranty details and he just said it was all in the folder he just handed me and sent me on my way. This was my first time buying a car from the dealer by the way.
Anyhow, after looking at the warranty I'm pretty angry/disappointed.
The maintenance was for 72 months/72k miles, where I could only get serviced every 7500 miles. Since this is my backup ride, I'll probably put less than 5k miles per year. And I am paying $1300 for it. That means I get 6 or so service appts for 1300? I don't think so.
I was also talked into GAP insurance, which my wife liked, but I'm wondering if it's worth it? I was charged $800 for it, but since I bought the truck below blue book and put down $2k, I don't know if it will save me much, if at all.
Lastly, he signed us up for an extended warranty through EFG. It's the cheapest/lowest amount of coverage, for $2600, 24 mos/30k miles. Doesn't cover brakes, electrical, suspension, A/C... Covers engine, transmission, but not as comprehensive as the more expensive plans.
All that said, I'm paying $4700 for the maintenance, warranty and GAP. Should I cancel all of this? Is any of this worth it, taking into consideration the age, mileage, and purchase price?
I'm supposed to meet up with the finance manager early next week, and want to get my ducks in a row before the meeting.