Financing Department Pitches

[Qban]

Hey all,

I'm about to take the plunge on a new Tundra (gonna go after a DC 5.7 LTD 4x2) and I am trying to get a realistic bottom line price.

What I'm wondering is what exactly people have had pitched to them during the financing portion of their paperwork.

Extended Warranties? Lo-Jack? Scotchguard? Gap Insurance? Is there anything else I'm missing here that I should be prepared for?

I believe the scotchguard and gap insurance are pure profit for the dealers (correct me if I'm wrong), but what about the extended warranty and the lo-jack? Just trying to arm myself with as much information as I can.

Thanks!

[uncle fungus]

Gap insurance is required if you lease your vehicle and I purchased it when I bought my Tundra. My payments only went up like 2 bucks and I think thats a small price to pay, God forbid you total out your truck and you owe more than what the truck is worth! others might disagree but I think its worth it

[Red Tundra]

When I bought mine last month (SR5 DC 5.7L regular bed with only option chrome steps), got trade in assistance, owner loyalty bonus, a couple of thousand off AND 3.9% for 36 months. They beat Ford on a similarly equipped model. Got my dealer pricing info from Cars Direct and valued my trade in with edmunds. Got what I wanted--the Toyota dealers in Atlanta seem to be motivated to sell.

I'm considering an extended warranty through Warranty Direct though it is kind of pricey at ~1800 for $0 deductible/7yrs/100k miles. I know it's a Toyota, but I had it on my '02 Camry and glad I did. A/C went kaput at 66K and 3 years and the warranty paid for it all. I've been driving Toyota cars and trucks since 1977, and though I'm glad they're making them in America; I've noticed a difference in build quality and components comparing the US made items vice Japanese {Know that will upset some here, but that's been my experience*}. Also had several other problems which were covered with the extended warranty. Saw a posting here from a NE dealer offering the Toyota Platinum warranty at a significant reduction off what my dealer had. They, the dealers, really make the money on the warranties. I passed and they didn't push it too hard. Got some time to decide, so I'm lurking to see what others have to say about the warranty.

I'd study up on Lo-Jack if I were you--another dealer pack. You can do Scotch Guard yourself and save lots.

*I had a 1981 Celica GTA--it was a special edition. My first nice car. Didn't drive it a lot, kept maintenance with Toyota, garage kept etc. At 5 years and 49,000 miles, the power steering pump went out. Got it fixed; kept the replaced pump. Service manager told me he'd never seen one fail like that--gave me the name and address for Toyota's area manager in East Tennessee. Stated I should write him a letter explaining the circumstances. Did that and didn't think too much about it until about four weeks later I get a call. It's the area manager, he's at my dealership. Asks if I'd mind coming in and bring the part if I have it. I do that. Guy gives me a check for the part and labor in exchange for the part. Stated Toyotas don't do like and I've been a loyal customer etc.,. Fast forward to 2004 and 66K on the Camry. I call Toyota about the a/c failure, and they say it is out of warranty, they're sorry, and thanks for shopping Toyota. No help, nada. I have a 1988 Toyota Xtra-Cab with 178k miles with original clutch and freon charge. No clatter and blows as cool as the day I drove it home new. I can only hope my Tundra does the same as I intend to keep it that long. Some say problems will surface within 3yrs/36K, but with the new engine and transmission, both built in US, I believe an extended warranty would be wise. Not an investment; it's insurance.

[mainliner]

Originally Posted by Qban

Hey all,

I'm about to take the plunge on a new Tundra (gonna go after a DC 5.7 LTD 4x2) and I am trying to get a realistic bottom line price.

What I'm wondering is what exactly people have had pitched to them during the financing portion of their paperwork.

Extended Warranties? Lo-Jack? Scotchguard? Gap Insurance? Is there anything else I'm missing here that I should be prepared for?

I believe the scotchguard and gap insurance are pure profit for the dealers (correct me if I'm wrong), but what about the extended warranty and the lo-jack? Just trying to arm myself with as much information as I can.

Thanks!

Get gap insurance, might be cheaper through your insurance company, but well worth it if you total the truck when it is still kind of new.

[mainliner]

Originally Posted by Qban

Hey all,

I'm about to take the plunge on a new Tundra (gonna go after a DC 5.7 LTD 4x2) and I am trying to get a realistic bottom line price.

What I'm wondering is what exactly people have had pitched to them during the financing portion of their paperwork.

Extended Warranties? Lo-Jack? Scotchguard? Gap Insurance? Is there anything else I'm missing here that I should be prepared for?

I believe the scotchguard and gap insurance are pure profit for the dealers (correct me if I'm wrong), but what about the extended warranty and the lo-jack? Just trying to arm myself with as much information as I can.

Thanks!

Know your credit score and what you will qualify for before buying your truck. That way you will know if they interest rate the f & i guy gives you is what it should be.

[AZNTundra]

gap insurance is a must... when you drive off the lot you lose about 6000-8000 dollars right off the top... and if you ever total your truck it is a good policy to have... i bought it just for that reason... and i financed 5000 worth of negative equity so definately worth it for me

extended warranties are bogus and scotchguard is worthless...

contact your insurance company on lojack... i already get a discount for having a TUNDRA STANDARD from the factory anti-theft device... but hey maybe your insurance company does more for lojack on top of the anti-theft device... mines doesnt... allstate go figure

[Sirfoil]

I didn't get GAP insurance because I put $10k down and will have the truck and my car paid off in 2.5 years. Tundras don't lose $6,000 to $8,000 off the lot there are used 2006 Tundras listed for $2k to $3k more than I paid for mine with less options.

Originally Posted by AZNTundra

gap insurance is a must... when you drive off the lot you lose about 6000-8000 dollars right off the top... and if you ever total your truck it is a good policy to have... i bought it just for that reason... and i financed 5000 worth of negative equity so definately worth it for me

extended warranties are bogus and scotchguard is worthless...

contact your insurance company on lojack... i already get a discount for having a TUNDRA STANDARD from the factory anti-theft device... but hey maybe your insurance company does more for lojack on top of the anti-theft device... mines doesnt... allstate go figure

[bugchucker]

I paid cash, so no gap. I did get the maintenance package for $1295. I forget but it was for like 11 service visits. The 3 major service visits alone were more than that. My last service at the Lexus dealer cost more than that for one visit!

[AZNTundra]

Originally Posted by Sirfoil

I didn't get GAP insurance because I put $10k down and will have the truck and my car paid off in 2.5 years. Tundras don't lose $6,000 to $8,000 off the lot there are used 2006 Tundras listed for $2k to $3k more than I paid for mine with less options.

well you are definately not the norm... it doesnt matter what they list for... you try trading your truck in for something and let me know what the outcome is... i have gone through 5 cars in the past 2 years... i know car values

[Milhaus]

Originally Posted by AZNTundra

well you are definately not the norm... it doesnt matter what they list for... you try trading your truck in for something and let me know what the outcome is... i have gone through 5 cars in the past 2 years... i know car values

I'm sorry, but if you have gone through 5 cars in 2 years, you are a car dealers DREAM! Especially if you are trading those cars in. If you buy a new Tundra off the lot and go to sell it a year later to a private party, you will NOT lose $8,000! If you do, you DON'T know car values!

[Sirfoil]

I have gone thru 4 cars in the last 8 months. And yes it dose matter what they list for cause you can count on getting 1k to 3k off that price. Which would put me at what I paid for my tundra. ($30,800 SR5 4X4 DC 4.7 TRD Highest option package, No sales tax in OR) If you don't sell to private party you absorb the 2k+ loss...

Originally Posted by AZNTundra

well you are definately not the norm... it doesnt matter what they list for... you try trading your truck in for something and let me know what the outcome is... i have gone through 5 cars in the past 2 years... i know car values

[yanksfan1977]

GAP is a must and the extended warranty is a nice addition depending on what and how much it covers. If it makes sense to you, then I say go for it. LoJack can be beneficial and is nice touch, if it fits in your budget. Forget the scotchgard, it's junk. I'd go with the GAP and warranty for sure, especially if you plan on keeping your Tundra for awhile.

[Stripped Honda]

i walked in to finance and every word out of my mouth was NO he understood i didnt want anything else and didnt push me ... i respect the finance guy for that gap insurance is a waste of money IMO

[hinkleid]

They tried to pitch some XILON, permanent wax and fabric protector hoopla for $600 I think.

Told the F&I guy I would think about it, and he told me he would rather have me get it that day because there was an office pool????

[Stripped Honda]

Originally Posted by hinkleid

They tried to pitch some XILON, permanent wax and fabric protector hoopla for $600 I think.

Told the F&I guy I would think about it, and he told me he would rather have me get it that day because there was an office pool????

i would have told him to go jump in the pool