Thanks for all the info guys, I went back over the weekend and talked to the finance guy, told him again to take that service contract out, this time he tried to scare me and said interest rate would go up two points to 5.99% and would be paying a lot more monthly, told me he wasn't a liar (which he is). So nothing happened, am keeping the contract for now, waiting for the title, and would be refinancing to a different bank with lower rate, hopefully 2.99% if i get approved, and that service contract would be void? I still have to receive the contract and see the details, its a five star contract by warranty solutions, owned by wells fargo bank.
Question about service contract (should I keep it?)
- Thread starter mazdabuff
- Start date
Jerry, if I refinanced to another bank, would that get rid of the contract, do I get the money back? Thanks.
The service contract has already been bought and paid for since it was packaged with the bank note. You can cancel it pro-rata. call the 800 number on the contract.
I have no problem with service contracts if they fit your needs but you can buy them cheaper directly from the source. In the future, decline the contract but get the paperwork and call them direct. You can get a lower price plus you can get payment options. Most dealers these days don't push the manufacture's service contract but sell 3rd party due to the fact they get higher commissions from the 3rd party.
If you need GAP, call your insurance agent and see what he offers. I bet you can do better on the price and in the event you have a claim, you deal with your company only and don't have to involve the 3rd party.
I have no problem with service contracts if they fit your needs but you can buy them cheaper directly from the source. In the future, decline the contract but get the paperwork and call them direct. You can get a lower price plus you can get payment options. Most dealers these days don't push the manufacture's service contract but sell 3rd party due to the fact they get higher commissions from the 3rd party.
If you need GAP, call your insurance agent and see what he offers. I bet you can do better on the price and in the event you have a claim, you deal with your company only and don't have to involve the 3rd party.
Jerry, thanks for the advice/info.
A side note, I purchased the same 8yr/100K B2B warranty with my new 2012 and was able to roll it into the 0% financing. That was well worth it. I have 5 years to pay it off, not 18 months and write just one "check".
Keep in mind the extended support kicks in after your 3 year factory B2B expires, so if the car is new you are paying for a max 5 years of coverage. Few hundred dollars a year is not that bad a deal. There are deductibles though,..
When you sell the car, it's transferrable, so it will grease the sale and add resale value. That's a plus.
I considered canceling it in the first week, but only after I read through the contract and found it was not a 100% Genuine Mazda Program, which is what I asked for.
Yes - the F&I guys are all slippery.
Keep in mind the extended support kicks in after your 3 year factory B2B expires, so if the car is new you are paying for a max 5 years of coverage. Few hundred dollars a year is not that bad a deal. There are deductibles though,..
When you sell the car, it's transferrable, so it will grease the sale and add resale value. That's a plus.
I considered canceling it in the first week, but only after I read through the contract and found it was not a 100% Genuine Mazda Program, which is what I asked for.
Yes - the F&I guys are all slippery.
Excellent.
It's very unusual for me to buy an extended warranty. I'm a tightwad and I tend to do work on my cars/bikes when I can but after terrible maintenance experiences with several Toyotas, I caved on this one.
1 waterpump/timing belt repair would have = the contract cost.
Plus I'm skeptical that a CX-9 is going to be trouble free, and positive that the mazda parts and repairs are among the highest I've seen in Hawaii. I don't have the AWD, but if I did, that would be another huge incentive to buy protection.
It scored me a couple points with the wife too - those are priceless. ;-)
Jerry - would you know what happens when the contract is cancelled by the customer? Exactly what amount is pro-rated back to us, the wholesale contract price? Can't imagine it would be easy to recoup the dealer's high profit margin/commissions after the fact.
It's very unusual for me to buy an extended warranty. I'm a tightwad and I tend to do work on my cars/bikes when I can but after terrible maintenance experiences with several Toyotas, I caved on this one.
1 waterpump/timing belt repair would have = the contract cost.
Plus I'm skeptical that a CX-9 is going to be trouble free, and positive that the mazda parts and repairs are among the highest I've seen in Hawaii. I don't have the AWD, but if I did, that would be another huge incentive to buy protection.
It scored me a couple points with the wife too - those are priceless. ;-)
Jerry - would you know what happens when the contract is cancelled by the customer? Exactly what amount is pro-rated back to us, the wholesale contract price? Can't imagine it would be easy to recoup the dealer's high profit margin/commissions after the fact.
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- 2022 CX-5 Turbo
HOLOHOLO:
I don't know about Hawaii, but in SF Bay Area,
a Mazda is cheaper to maintain than a comparable Toyota.
I own both brands so I should know. A typical oil change for my CX9 is $30-$34.
It is $35-$40 for my Prius (less oil, 'mind you). All Toyota accessories are more
expensive for no reason than those of Mazda (filters, cargo nets, floormats, you name it)
BTW, CX9 has timing-chain, no belt to replace. That should save you the $1K for timing belt
on a typical Toyota and Honda. People tend to replace water pump also when timing belt is to be changed.
However, it is difficult to replace the water pump of CX9 (cross your fingers). It requires lifting
the engine up from bay. It will cost you $$$. However, it should last 100K in most cases.
I don't know about Hawaii, but in SF Bay Area,
a Mazda is cheaper to maintain than a comparable Toyota.
I own both brands so I should know. A typical oil change for my CX9 is $30-$34.
It is $35-$40 for my Prius (less oil, 'mind you). All Toyota accessories are more
expensive for no reason than those of Mazda (filters, cargo nets, floormats, you name it)
BTW, CX9 has timing-chain, no belt to replace. That should save you the $1K for timing belt
on a typical Toyota and Honda. People tend to replace water pump also when timing belt is to be changed.
However, it is difficult to replace the water pump of CX9 (cross your fingers). It requires lifting
the engine up from bay. It will cost you $$$. However, it should last 100K in most cases.
Padre Dave
Member
- :
- 2011 CX-9 Grand Touring
I bought a 100,000 mile warranty/service contract when I traded my 2008 GT for an almost identical 2011 model. My '08 was a troubled child....it was an absolute blast to drive, but weird stuff was going out on it, like a brake vacuum pump, I lost my key sender unit and the salesman must have seen me red around the collar. Because I really liked my car, I told the sales guy that if he could keep my payment within $100 of my current payment, I would go for it. My 2011 seems more solid, and it even got hand rebuilt when I was rear-ended at 50 mph by a Honda Civic and pushed into the vehicle in front of me. Wouldn't you know it, but other than the MVA my 2011 has been totally problem free. So, I bought gap insurance as I will be forever unside down (my '08 had 75,000 miles on it, so I took a bath in the trade) and I'm still driving a lot (30,000 in the first year) getting the new one was a business decision. So, I pray that whenever something breaks, it happens before 100,000 miles.
Thanks Ceric - I meant to correct that timing belt reference- it was just an example of how quick costs add up.
Yes- Toyota and Mazda repair costs are both "sky-active" high around here. Mazda parts in particular - there are more aftermarket Toyota parts to choose from.
Unfortunately, I've become very familiar with Toyota repairs on the older V6 engines (I just had 3 Toyotas the same time). In particular, the expensive timing belt, water pump, leaky seals repair. I was pleased to learn that many newer engines (including Camry's) require much less maintenance now. Their timing chains, finely milled engine parts and metalized oil seals may help prevent the costly and pointless repairs I had endured over and over with the Toyotas. But I expect something else will pop up to take their place,.. ;-)
Timing chains are not perfect, of course. They can go bad over time, stretching or wearing the gears -and the tensioner can easily fail. While chains may last 2-3 times as long as a belt, they can cost 2-3 times as much to replace, or cause 2-3 times more engine damage. But as you point out, it's likely to be the least of my worries. Amen to that!
So, if nothing goes wrong, I'll save thousands in dealer repairs and maintenance, compared to my previous vehicles. I'll sell the Mazda well before the extended warranty tops out, with very low miles on it and the contract will make it look a lot more attractive to prospective buyers, in the world of hybrids, electrics and super efficient gas vehicles we'll be seeing in the next 5 years.
I'll just need to find someone with plenty kids, who still likes to zoom, and hope that the word doesn't get out about the CX-9's bogus City/Highway numbers.
Yes- Toyota and Mazda repair costs are both "sky-active" high around here. Mazda parts in particular - there are more aftermarket Toyota parts to choose from.
Unfortunately, I've become very familiar with Toyota repairs on the older V6 engines (I just had 3 Toyotas the same time). In particular, the expensive timing belt, water pump, leaky seals repair. I was pleased to learn that many newer engines (including Camry's) require much less maintenance now. Their timing chains, finely milled engine parts and metalized oil seals may help prevent the costly and pointless repairs I had endured over and over with the Toyotas. But I expect something else will pop up to take their place,.. ;-)
Timing chains are not perfect, of course. They can go bad over time, stretching or wearing the gears -and the tensioner can easily fail. While chains may last 2-3 times as long as a belt, they can cost 2-3 times as much to replace, or cause 2-3 times more engine damage. But as you point out, it's likely to be the least of my worries. Amen to that!
So, if nothing goes wrong, I'll save thousands in dealer repairs and maintenance, compared to my previous vehicles. I'll sell the Mazda well before the extended warranty tops out, with very low miles on it and the contract will make it look a lot more attractive to prospective buyers, in the world of hybrids, electrics and super efficient gas vehicles we'll be seeing in the next 5 years.
I'll just need to find someone with plenty kids, who still likes to zoom, and hope that the word doesn't get out about the CX-9's bogus City/Highway numbers.
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My wife and I just traded a 2010 CX-9 GT AWD with 35.5k on the odo for same exact options 2012 model (even same color) due to the fact that as our primary vehicle, with all the toys and bells and whistles, we want the security of knowing all is covered. We were told by the salesman at the purchase time of our 2010 to just come back before 36k and they would work out a deal on an extended warranty, but with us trading in a nice 2001 Durango SLT+ on that deal, and having 0% 60 month financing originally, it actually only cost us about $20 more a month to trade our 2010 in on a new 2012 same exact vehicle with 138 miles on it, and that INCLUDED the cost of a genuine Mazda 6/100k B2B top level, Zero deductible warranty.....I couldn't believe it when the Sales Manager we were dealing with suggested that we trade in our 2010....but the numbers didn't lie, and we had the transfer case in our 2010 eat itself to death at 7k on the odo, which if that would have had to be paid for by us out of pocket would have cost $1,200.......we really love the way it drives though....I'm chalking that up to assembly line fluke or defective machining...still these things can far exceed the cost of a warranty. Handled properly, they are well worth the peace of mind for me.
A friend just had to put a rebuilt trans in his AWD 2003 Acura MDX, and it ran $3,000 with labor.....ouch! Car had 140k on the clock when it went, and they drive it like pussy cats.....
A friend just had to put a rebuilt trans in his AWD 2003 Acura MDX, and it ran $3,000 with labor.....ouch! Car had 140k on the clock when it went, and they drive it like pussy cats.....
I decided to cancel the extended service contract. I just got a letter recently from Mazda that they are providing certified pre-owned warranty for 7 years/100,000 miles for the powertrain, and 1 year bumper to bumper warranty. I immediately faxed a cancellation letter to the warranty company ( I learned I have 60 days to cancel and get a full refund), but they told me the dealer is the one to have to refund and send it to the bank. I assume the dealer will give me a hard time to take care of that refund, if they do that I'm going to complain to mazda corporate or maybe take them to court.
Good news, finally, the dealer gave the money back and was deducted from my principal loan amount, and I was able to refinance to a lower rate and shorter loan term.
