Toyota Extended Warranty. Yes or No?

The problem is SOME dealerships are giving buyers a hard time on WARRANTY items and TSB requests. Those dealers are likely to give you a harder time with an Extende Service Contract which is not a warranty at all and may or may not be covered by Magnuson-Moss Act for after market parts,

Go to a dealer and tell them your die is harsh with a load and you understand Toyota is aware of this issue. See how they react. If they go ahead and know what the problem is an offer to fix it buy the Extended Service Contract. If not, IMO I would not waste my money. I believe they are a waste of money anyway and benefit only few people. They tie you to the dealer and some independents may works better and cheaper and you can get cheap parts online. Major work is rarely needed.

An Extended Service Contract is in effect and administered by an INSURANCE company. It is not the same as a Warranty.



http://consumer-law.lawyers.com/warranty-law/Consumer-Law-Warranty-FAQ.html#6

 

Thats the reason I ended up buying the warranty.... you basically can have it for the big ticket items if they ever break and if not just pay out of pocket like you would normally if you didnt have insurance. Then when the contract is up you can get your money back minus $50.... Makes no sense not to have it.... here is a pic of the contract in question:



basically you lose $50 bucks if you dont use it..... so the idea is to use it only if the item damaged is more than the purchase price (total) or else you can just not claim through insurance and pay out of pocket (which what you would be doing if you didnt purchase the plan anyways)..... someone clarify if im wrong...

 

Plus if the warranty company goes out of business. You lose $2400.

I know someone that bought a $4000 extended on his cadillac, then @ 80,000 miles needed new engine seals. The extended refused to pay & it cost him $8000 for new seals. I think he got scammed by the stealership. Everyone told him not to do it.

 

I plan to get the extended warranty on my '11 once I have my 25k mile service. I plan on keeping my truck bone stock and for as many miles as it will go. I am super happy with the gas mileage and the reliability of toyotas in general. so far its been a great work vehicle for me.

from 36-100k miles is 64 k miles, which is about 2 years worth of driving for me. Something is bound to go wrong, from window regulator, ac compressor, power steering. All that has to happen is one thing and its paid for.

 

Nope I doubt anything will go wrong. Mine is over 5 years old & still on the original " window regulator, ac compressor, power steering." I'm even on the original serpentine belt @ 172,000 miles & no signs of cracks. An extended is a complete waste of money on vehicles that are well made. The only time you want an extended if you are buying a car that doesn't last. If you want to throw your money away on an extended then go ahead & when your truck gets to 120,000 miles, you will be kicking yourself for wasting the money on an extended.

 

^^^^^^^^^THIS

The only purpose for an Extended Service Contract is "peace of mind" That's the only value for a huge percentage of buyers.

That's what you read more than anything else.......from buyers and sellers alike. Very few instances people actually used them. Most don;t even bother with the hassle of the refund process when they trade in their excitement of replacing their vehicles.