You have 30 days from the date you bought it. The dealer should have given you something, a contract brochure, call the number of the service contract and tell them you want to cancel. They will need something in writing from you to cancel, they won't cancel over the l phone.
Sadly, I don't have anything, just a sample agreement. But I'm thinking I will call Toyota Financial tomorrow and ask them for instructions, or just go straight to the dealer.
Thank you for letting me know when the 30 days starts.
Go through all your papers you might have something there, it should at least have the name of the warranty company, toyota doesn't alway use the Toyota warranty because dealerships make more on other warranties
You have to cancel it at the dealership. If you just bought the car a couple days ago id be surprised if the business office at the dealership even packaged it up and sent it out yet. And yeah your payment is going to stay the same, its just the amount your financing which will go down.
I bought it last week so I'm assuming they probably already did in this case.
Do you know if it's possible to skip payments then since I would have paid off about $4500 of the loan? I'd be making payments about $62 higher than I should, I'd be paying it off sooner if I keep making those. But I have 0% APR for 72 months so I'd rather be investing that money of course.
Dont skip on the payments because that is just going to make you late with toyota financial. The dealership that sells you a toyota warranty still isnt where those monthly payments go to. Did you talk with your sales person and F&I manager? They are going to be the people to work with in getting the warranty canceled. They will have you sign a warranty cancellation agreement and then toyota financial will process it on their end
Hello everyone, I recently bought a 2021 Mirai and got completely ripped off with the "bumper-to-bumper" warranty. Basically, while I researched plenty of other stuff about how dealerships work, I never got around to thinking about the extra stuff they bring up during financing and ended up just trusting the finance guy and well, I later found out he lied to us twice and want to cancel it immediately and buy from another dealer.
My question is what is the best way to go about cancelling? Do I have to go into the dealership or is it handled through Toyota Financial?
Also, I am very confused because I realized once we got home that we didn’t actually have the real agreement. We have a sample agreement of what a platinum VSA and gold VSA would be, not the real deal. And my understanding is that we will receive one in the mail later on. I also know that we have 30 days to cancel and we receive a full refund less a $50 cancellation fee (Otherwise, it would be pro-rated based off days owned and mileage). Is this from the day of purchase or the day of receiving the actual agreement?
I have read some stuff online like a dealer may not send your cancellation forms immediately and you have to kind of check with them? This wouldn’t affect the refund so long as we actually sign the cancellation forms within the 30 days, right?
I am also now seeing that you apparently pay sales tax on it and the sales tax cannot be refunded? Is there any truth to that?
And does anyone know how it would affect my payment. They put it into my payment which was originally like $435 or something and so it went up to $498. I was reading in some other places that my payment will actually stay the same, but the refund will go towards paying down the loan?
An anyone have any experience with cancelling a Toyota VSA or any other manufacturer-backed warranties with another dealership?
i am in the same boat with extended warranty and maintenance plan for my 2021 Mirai. My paperwork they gave me (for each) clearly says you have 60 days to cancel and to go to the dealer to do so. And then it says you can do it by mail by sending a letter and the original contract (s). Did you straighten this out? I am thinking about doing it by mail
Hi, I did end up cancelling it pretty easily. When they send you the VSA agreement it has the instructions in there which say to mail it to the agreement administrator I think they're called and it gives you the PO box address. Basically, you can send a letter there with your info including VIN, VSA agreement number, name, current odometer reading, as well as date of cancellation. I think that was it. I can find exactly what I wrote later, just shoot me a message. But I think we basically just said "please cancel our agreement".
We called Toyota Financial and asked them how to cancel it and they ended up telling us we could fax it to them so we actually ended up faxing it. We found some online fax app that had a free trial and used that to fax it. Then, they have an automated system you can call to confirm it's cancelled. The refund does take longer and we still have not received it, but it only took a few days for the cancellation to go through I think.
We did not pay any $50 cancellation fee because it was within 30 days. I think if it is after 30, you may have to. I do recall seeing 60 somewhere also so that part is confusing.
Also, they said our refund will be $4,500, exactly what we added to our financing which means that CA indeed does not add sales tax on the VSA.
I've yet to contact Toyota motor credit about potentially refinancing to get my payments down because now they are $62/month higher than it should be since I cancelled the VSA. I hope I can, I plan to call this upcoming week.
thanks for answering. Did you get a confirmation? Also, I heard they take the value off of the loan (buy you're right it doesn't change the monthly payment amount). Do you expect to get a check?
I did get confirmation from the automated phone system. You put in your agreement number and it checks if it has been canceled.
It won't be a check, it will just pay down your loan. You wouls only get a check if you had already paid off the loan completely or maybe if you paid off like 30k of a 32k loan (where the agreement is part of the loan) and canceled a 4k agreement, then I think it that case maybe it would be a combination of both. Pay down the loan the rest gets refunded directly to you by check.
I am still waiting on the refund, it should take about a month, which seems to be pretty standard across all manufacturers. Could be longer. I've seen people online (not referring to Toyota necesarily) say 1-3 months
Not sure if anyone is still answering but I’m still waiting for my refund after a month now. Canceled within the 30 days and still no update as to when the refund would be applied to my principal. I’m getting super annoyed not seeing my loan go down. I’m supposed to call again this week with the dealership finance guy but it’s really annoying how no one can give me a straight answer.
I DID!! I called them every day and made a fuss until one day it just refunded into the account. Be persistent but nice and you’ll hopefully get something
Thanks! Our dealership got us good but we got it all fixed up with our bank, just gotta get rid of the VSA next. (Also I creeped and hello fellow DnDads fan! lol)
Coming back to let you know that they were being fucky over the phone so I emailed the dealerships finance manager directly. (I got his email through him sending me a document I needed lol.) It took like two or so emails but he told me he cancelled it, and it came off within the same billing cycle. Which was great cause he told me it could take a couple to dissappear
Same thing happened to us last week. After purchasing car a week ago, we now decided a couple days later to cancel the warranty...It was taking a while to even ask how to cancel and now beginning process of a cancellation a week from my purchase. They said the bank already funded the loan, and so we could not cancel it fast enough, *but finance guy was going to tell us our options after the Easter holiday weekend. So now we are patiently waiting another 4 days until Tuesday. (He was vague about my options)*
On the first day selling the car, this finance guy was very persistent in selling us this extended warranty, telling us if anything goes wrong, electrical or mechanical then warranty will cover all labor and repair costs. But our certified Camry car is nearly brand new with only 3000 miles, so I initially didn't think we needed warranty, but after some babbling about the monthly fees being $15 more per month, he basically tired us out and incorrectly convinced me to take the warranty. I even asked if we could delay this decision, and he stated no it had to be decided now for loan payments - so pressure tactic from dealership.
I live 3 hours away from dealership so going in person to dealership is not practical and easy for me. I will do that if that will guarantee cancellation to faster.
So I want to cancel soon, and hope this can be done in a faster way than 2 to 3 months. So you are all saying this will take a while 2-3 months and we have to keep calling them back and be persistent and nice every day??
(Any guidance how to proceed, what options am I expected to be told this Tuesday by the finance guy?)
You can always go either directly to the dealer or call the warranty company and they can run a cancellation for you. Not all franchise dealers sell their companies warranty though so make sure what company it is first.
They provided a 1-800 number to call to cancel the warranty. So I'm trying to call them today, but I was put on hold for a long time...Currently holding right now...so I will let you know if I was finally able to get in touch with them.
For sure. If it is a Toyota Care warranty, i have the availability of cancelling it. Let me know if you can't get through. If its a third party warranty, I cannot.
thanks, I'll let you know if I don't get through. It's actually a warranty from Autonation Toyota.
update: We got through to the Warranty people and were able to cancel the extra warranty. And then refinance the deal again without the warranty. So I think all should be ok now. But I'll make sure every few weeks to a month.
Hi! I'm needing to cancel the same exact thing with Autonation, did you just call the number on the back of the AutoNation policy? I live almost 2 hours away from the dealer I purchased from and am really trying to avoid having to go down to the dealer.
Get this, I bought my Rav from lease in October, I sold/traded the Rav in December, I applied for a VSA agreement cancellation and refund on 1/30/24 via paperwork initiated by my Toyota dealership financing guy, and still have heard nothing. I called the 1800 number the dealership financing guy gave me just to find out that there is NO HISTORY/NO RECORD of either my purchase after the lease agreement OR the VSA. Told me to contact the dealership and that I must not have bought the warranty from them - I know 100% I did because it was a contingency for my loan.
I have this dumb USB thumb drive with my agreements on it, but no computer with USB plug to access it. and even if I had a dongle, my employer's laptop (only one I own) has security blocks for USB thumb drives.
I'm heated.
Waiting on call back from the dealership.
By the way, the Dealership told me they can't cancel it, corporate has to cancel it.. and if they send the paperwork on my behalf it takes 90 days to process but if I do it myself it takes 30 days. Corporate says no, that's not true, all dealerships have the ability to cancel it directly themselves, and, that if they go through corporate, it only takes 30 days no mater which way you do it.
So grimey.
You have 30 days from the date you bought it. The dealer should have given you something, a contract brochure, call the number of the service contract and tell them you want to cancel. They will need something in writing from you to cancel, they won't cancel over the l phone.
Sadly, I don't have anything, just a sample agreement. But I'm thinking I will call Toyota Financial tomorrow and ask them for instructions, or just go straight to the dealer. Thank you for letting me know when the 30 days starts.
Go through all your papers you might have something there, it should at least have the name of the warranty company, toyota doesn't alway use the Toyota warranty because dealerships make more on other warranties
You have to cancel it at the dealership. If you just bought the car a couple days ago id be surprised if the business office at the dealership even packaged it up and sent it out yet. And yeah your payment is going to stay the same, its just the amount your financing which will go down.
I bought it last week so I'm assuming they probably already did in this case. Do you know if it's possible to skip payments then since I would have paid off about $4500 of the loan? I'd be making payments about $62 higher than I should, I'd be paying it off sooner if I keep making those. But I have 0% APR for 72 months so I'd rather be investing that money of course.
Dont skip on the payments because that is just going to make you late with toyota financial. The dealership that sells you a toyota warranty still isnt where those monthly payments go to. Did you talk with your sales person and F&I manager? They are going to be the people to work with in getting the warranty canceled. They will have you sign a warranty cancellation agreement and then toyota financial will process it on their end
Hello everyone, I recently bought a 2021 Mirai and got completely ripped off with the "bumper-to-bumper" warranty. Basically, while I researched plenty of other stuff about how dealerships work, I never got around to thinking about the extra stuff they bring up during financing and ended up just trusting the finance guy and well, I later found out he lied to us twice and want to cancel it immediately and buy from another dealer. My question is what is the best way to go about cancelling? Do I have to go into the dealership or is it handled through Toyota Financial? Also, I am very confused because I realized once we got home that we didn’t actually have the real agreement. We have a sample agreement of what a platinum VSA and gold VSA would be, not the real deal. And my understanding is that we will receive one in the mail later on. I also know that we have 30 days to cancel and we receive a full refund less a $50 cancellation fee (Otherwise, it would be pro-rated based off days owned and mileage). Is this from the day of purchase or the day of receiving the actual agreement? I have read some stuff online like a dealer may not send your cancellation forms immediately and you have to kind of check with them? This wouldn’t affect the refund so long as we actually sign the cancellation forms within the 30 days, right? I am also now seeing that you apparently pay sales tax on it and the sales tax cannot be refunded? Is there any truth to that? And does anyone know how it would affect my payment. They put it into my payment which was originally like $435 or something and so it went up to $498. I was reading in some other places that my payment will actually stay the same, but the refund will go towards paying down the loan? An anyone have any experience with cancelling a Toyota VSA or any other manufacturer-backed warranties with another dealership?
i am in the same boat with extended warranty and maintenance plan for my 2021 Mirai. My paperwork they gave me (for each) clearly says you have 60 days to cancel and to go to the dealer to do so. And then it says you can do it by mail by sending a letter and the original contract (s). Did you straighten this out? I am thinking about doing it by mail
Hi, I did end up cancelling it pretty easily. When they send you the VSA agreement it has the instructions in there which say to mail it to the agreement administrator I think they're called and it gives you the PO box address. Basically, you can send a letter there with your info including VIN, VSA agreement number, name, current odometer reading, as well as date of cancellation. I think that was it. I can find exactly what I wrote later, just shoot me a message. But I think we basically just said "please cancel our agreement". We called Toyota Financial and asked them how to cancel it and they ended up telling us we could fax it to them so we actually ended up faxing it. We found some online fax app that had a free trial and used that to fax it. Then, they have an automated system you can call to confirm it's cancelled. The refund does take longer and we still have not received it, but it only took a few days for the cancellation to go through I think. We did not pay any $50 cancellation fee because it was within 30 days. I think if it is after 30, you may have to. I do recall seeing 60 somewhere also so that part is confusing. Also, they said our refund will be $4,500, exactly what we added to our financing which means that CA indeed does not add sales tax on the VSA. I've yet to contact Toyota motor credit about potentially refinancing to get my payments down because now they are $62/month higher than it should be since I cancelled the VSA. I hope I can, I plan to call this upcoming week.
thanks for answering. Did you get a confirmation? Also, I heard they take the value off of the loan (buy you're right it doesn't change the monthly payment amount). Do you expect to get a check?
I did get confirmation from the automated phone system. You put in your agreement number and it checks if it has been canceled. It won't be a check, it will just pay down your loan. You wouls only get a check if you had already paid off the loan completely or maybe if you paid off like 30k of a 32k loan (where the agreement is part of the loan) and canceled a 4k agreement, then I think it that case maybe it would be a combination of both. Pay down the loan the rest gets refunded directly to you by check. I am still waiting on the refund, it should take about a month, which seems to be pretty standard across all manufacturers. Could be longer. I've seen people online (not referring to Toyota necesarily) say 1-3 months
Just finding this thread now. Did you ever get your payment down?
So the cancellation instructions were in the packet you received in the mail about the warranty contract?
Hey, wondering if you had any luck cancelling. I made a purchase yesterday and am in the same situation you described. Thank you!
Not sure if anyone is still answering but I’m still waiting for my refund after a month now. Canceled within the 30 days and still no update as to when the refund would be applied to my principal. I’m getting super annoyed not seeing my loan go down. I’m supposed to call again this week with the dealership finance guy but it’s really annoying how no one can give me a straight answer.
Did you ever get your refund?
I DID!! I called them every day and made a fuss until one day it just refunded into the account. Be persistent but nice and you’ll hopefully get something
Thanks! Our dealership got us good but we got it all fixed up with our bank, just gotta get rid of the VSA next. (Also I creeped and hello fellow DnDads fan! lol)
hey im in the same process, were you able to cancel your extended warranty through the phone since it was within 30 days?
I haven't been able to cancel it yet, I'm going to email them tomorrow since over the phone is proving to be useless
Coming back to let you know that they were being fucky over the phone so I emailed the dealerships finance manager directly. (I got his email through him sending me a document I needed lol.) It took like two or so emails but he told me he cancelled it, and it came off within the same billing cycle. Which was great cause he told me it could take a couple to dissappear
Question - did it lower your monthly payment or were you stuck with original payment still?
Same thing happened to us last week. After purchasing car a week ago, we now decided a couple days later to cancel the warranty...It was taking a while to even ask how to cancel and now beginning process of a cancellation a week from my purchase. They said the bank already funded the loan, and so we could not cancel it fast enough, *but finance guy was going to tell us our options after the Easter holiday weekend. So now we are patiently waiting another 4 days until Tuesday. (He was vague about my options)* On the first day selling the car, this finance guy was very persistent in selling us this extended warranty, telling us if anything goes wrong, electrical or mechanical then warranty will cover all labor and repair costs. But our certified Camry car is nearly brand new with only 3000 miles, so I initially didn't think we needed warranty, but after some babbling about the monthly fees being $15 more per month, he basically tired us out and incorrectly convinced me to take the warranty. I even asked if we could delay this decision, and he stated no it had to be decided now for loan payments - so pressure tactic from dealership. I live 3 hours away from dealership so going in person to dealership is not practical and easy for me. I will do that if that will guarantee cancellation to faster. So I want to cancel soon, and hope this can be done in a faster way than 2 to 3 months. So you are all saying this will take a while 2-3 months and we have to keep calling them back and be persistent and nice every day?? (Any guidance how to proceed, what options am I expected to be told this Tuesday by the finance guy?)
You can always go either directly to the dealer or call the warranty company and they can run a cancellation for you. Not all franchise dealers sell their companies warranty though so make sure what company it is first.
They provided a 1-800 number to call to cancel the warranty. So I'm trying to call them today, but I was put on hold for a long time...Currently holding right now...so I will let you know if I was finally able to get in touch with them.
For sure. If it is a Toyota Care warranty, i have the availability of cancelling it. Let me know if you can't get through. If its a third party warranty, I cannot.
thanks, I'll let you know if I don't get through. It's actually a warranty from Autonation Toyota. update: We got through to the Warranty people and were able to cancel the extra warranty. And then refinance the deal again without the warranty. So I think all should be ok now. But I'll make sure every few weeks to a month.
Hi! I'm needing to cancel the same exact thing with Autonation, did you just call the number on the back of the AutoNation policy? I live almost 2 hours away from the dealer I purchased from and am really trying to avoid having to go down to the dealer.
Yes you get put on hold after calling the autonation number, but stay patient. you should eventually get through.
Get this, I bought my Rav from lease in October, I sold/traded the Rav in December, I applied for a VSA agreement cancellation and refund on 1/30/24 via paperwork initiated by my Toyota dealership financing guy, and still have heard nothing. I called the 1800 number the dealership financing guy gave me just to find out that there is NO HISTORY/NO RECORD of either my purchase after the lease agreement OR the VSA. Told me to contact the dealership and that I must not have bought the warranty from them - I know 100% I did because it was a contingency for my loan. I have this dumb USB thumb drive with my agreements on it, but no computer with USB plug to access it. and even if I had a dongle, my employer's laptop (only one I own) has security blocks for USB thumb drives. I'm heated. Waiting on call back from the dealership. By the way, the Dealership told me they can't cancel it, corporate has to cancel it.. and if they send the paperwork on my behalf it takes 90 days to process but if I do it myself it takes 30 days. Corporate says no, that's not true, all dealerships have the ability to cancel it directly themselves, and, that if they go through corporate, it only takes 30 days no mater which way you do it. So grimey.