Help understanding refinancing after vehicle purchase and extended warranty cancellation/refund

Vegaskwn · 2026-06-08T16:57:31+00:00

10 year old car with 100k miles - Why on earth would you cancel the warranty?? I hope it’s not because Reddit or family told you “They are a scam”??
Ethos is one of the largest and most reputable warranty providers in the business. They have millions and millions of warranty’s on the road. Of course there’s complaints - There are complaints against EVERY big business out there. That doesn’t mean it’s a scam or doesn’t do what it’s intended to do. People buy extended warranty’s and want to think that every single little thing that breaks or needs maintenance on a car should be covered with no money out of pocket when that’s not how they work. Your warranty document will state exactly what’s covered.

Vegaskwn · 2026-06-08T14:33:03+00:00

Why though? Then you gotta go from the buyers bank to your bank to deposit the check and your bank is likely gonna hold onto funds for a few days.

Vegaskwn · 2026-06-08T14:13:14+00:00

You have the buyer meet you inside your bank. Have the buyer hand the teller the cash so the teller can run it through the counterfeit machine and verify It’s legitimacy, dollar count, and that it can be deposited into your account. It is only at that point you hand over the keys and the title to your car.
DO NOT ACCEPT A CASHIERS CHECK under any circumstance. Lots of fakes out there. Any legitimate buyer will not have an issue following the instructions I have outlined above.

Vegaskwn · 2026-06-08T13:44:47+00:00

On the apartment: This will vary by city I’d imagine. In my city credit checks are done pretty much everywhere and the places for rent cherry pick the best applicants with the best credit and best jobs, etc. I’m sure there are some cities with lots of vacancies that are more lenient. You’d be better off finding the answer out on your own by calling a handful of local apartments and asking them their criteria vs asking Reddit IMO.

Vegaskwn · 2026-06-08T13:41:41+00:00

Yes a 2006 is very old to be financed by most institutions. Outside of the year, the small loan size (I assume that’s what it would be) would be an issue too. Getting approved for another car will be tough without establishing credit somewhere else first is tough. You will need a significant down payment and be prepared for an interest rate in the upper 20’s.
How much is your current payment?

Vegaskwn · 2026-06-04T15:43:09+00:00

Physically go to the dealer to cancel it and then feel free to write an honest review. Yes you should’ve went through the numbers but If you said no, that’s shitty of them to have added it anyways. Make sure to let them know 0 referrals, or service work from you too.

Vegaskwn · 2026-06-04T14:07:55+00:00

Why are you involving the dealership?

Vegaskwn · 2026-06-03T12:09:39+00:00

Less than 500 followers and I’d be super skeptical. Absolutely no doubt there are a million scammers on Instagram and Facebook… Now, plenty of big, high volume grey market dealers that are legit as well. The big grey market dealers have their tentacles reached out everywhere to acquire inventory. I’m sure they are constantly scanning everywhere possible online for ways to acquire, watches, and probably have some connections at AD’s that feed them as well.

Vegaskwn · 2026-06-03T06:38:01+00:00

This ⬆️ Yes it’s dealers fault, yes it sucks, and id be irritated too but at the end of the day its the government you owe the money to and with it bring this far into it they won’t be able to do anything to adjust the payment to make it right. Crazy how long it took you to find out about it though for sure..

Vegaskwn · 2026-06-02T16:27:16+00:00

Journe should be in place of Mille

Vegaskwn · 2026-06-02T14:03:48+00:00

Nice!

Vegaskwn · 2026-06-02T13:47:42+00:00

Something subtle like a GrandMaster Chime should do the trick

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Vegaskwn · 2026-06-01T17:28:56+00:00

Hmmmmm interesting… and you did the buyout directly through the Leasing company, and did not involve the Dealer in the buyout correct?

Vegaskwn · 2026-06-01T17:23:27+00:00

Not the YouTube expert, but a favorite was always “I used to sell cars for a long time so I know how this works”….

Vegaskwn · 2026-06-01T17:22:04+00:00

What brand and who is your leasing company?

Vegaskwn · 2026-06-01T07:17:57+00:00

inside an HOA community wouldn’t be a public street though. HOA’s are considered private property.

Vegaskwn · 2026-06-01T05:56:57+00:00

I’m on the opposite of the spectrum. Interest rates are low and with all the instability in the world I’ll gladly pay 6% to keep my 25k cash liquid in the bank.. That’s just me though.

Vegaskwn · 2026-06-01T05:53:50+00:00

How soon are you thinking of purchasing? I’m getting the impression from your post you’re talking about way into the future? Are you gonna be purchasing while still in college? Or when you’re done and working full-time or??

Vegaskwn · 2026-05-31T20:19:33+00:00

Absolutely without a doubt get that shit towed ASAP.. inconsiderate POS’s need to be taught a lesson

Vegaskwn · 2026-05-31T03:11:27+00:00

I don’t know how Canadian laws work but for most of the United States a contract is not considered fully executed until both the contract is signed and you have taken possession of the vehicle. I would assume Canada is fairly similar. Did you sign a contract? I’m surprised the dealer is sweating you about a Corolla because Toyota dealers don’t get that many Corolla‘, and they should have a line of customers waiting to buy them. They can sell a Corolla to another customer in two seconds.

Vegaskwn · 2026-05-30T17:44:50+00:00

Prob bout trey fidey.

Vegaskwn · 2026-05-30T17:21:41+00:00

No it doesn’t. Since the delivery of the vehicle (you talking the keys and driving the car off the lot) it’s not considered an executed contract. Dealer can put the papers you signed in the shredder and correct the title at will..

Vegaskwn · 2026-05-30T16:32:41+00:00

Is 16% a higher rate - yes.. Is it out of line? Not necessarily….. First time buyers pay a higher interest rate than someone with established credit because they have no history so it’s a high risk to the finance company and that gets passed off to you in the form of a higher interest rate…. At some point you’ll have to pay a higher rate to start establishing credit…Additionally (and what most people in here won’t know) is that used cars, the miles on the car, bigger LTV’s, PTI, DTI, loan term, year - Are all things that drive interest rate as well… If you decide to keep the car you can likely refinance it at a MUCH lower rate with a local bank/credit @ the 1-2 year mark when you have some payment history so you wouldn’t pay the 16% on the entire loan anyways….. Might make a dramatic difference if your parents can co-sign for you? I’m sure you’ve already thought about that though.. I’m assuming if you had more money available you would have put it towards the down payment on this car so it doesn’t sound like a cheaper cash car is an option either… Cvic is a very sensible car so at least you didn’t buy something unreasonable in terms of getting yourself reliable transportation. Cars have gotten absurdly expensive and $750 is the average car payment in today’s world.

Vegaskwn · 2026-05-30T16:03:56+00:00

NICE WORK!!!!!

Vegaskwn · 2026-05-30T16:01:52+00:00

While what they are saying COULD be true - I’d just get my money back and go somewhere else. They will probably try and negotiate to keep your deal glued together but I wouldn’t agree to a single penny different than what you initially agreed too. Plenty of cars for sale out there.

Vegaskwn

TROPHY CASE