Should i get the extended warranty for my 2015 Taco or no

Just wondering what everyone thought about this...

 

I've reported your post to the moderators as improper forum location. Please don't take it personally.

 

I see nothing wrong asking a warranty question about a new second gen in the 2nd gen discussion forum.
Edit: Unless it has already been moved to the 2nd gen forum.

To the OP, up to you. Any competent manufacture selling extended warranties will have done the math about what the average repairs for that coverage will cost them and will price the extended warranty to cover those costs while adding additional on top to make a profit. Meaning on average the dealer is going to come out ahead, otherwise they would lose money and it wouldn't make business sense. So I personally opt to not purchase extended warranties.

 

I got the "gap" warranty that extends the 3/32k to 7/100k. for the ~1600 bucks I think it was a good deal. If anything major goes wrong, I'm covered... But that bullshit maintenance plan can go screw. It only cover the most basic stuff, not even gear oils on a 4WD truck!

 

I wouldn't do an extended warranty or GAP insurance. One, these trucks are very reliable and you're wasting your money thinking something will go bad within the extended warranty. Two, they hold their value like crazy so the chances of you needing the GAP coverage to cover the difference is slim to none, unless you trade something in and are starting with a ton of negative equity.

 

Tacoma was the first automobile I got an extended warranty on. Generally I am not for them unless I get them real cheap (which is rarely the case). The salesguy caught me on a bad day and I bit. I paid $1000 for 8/125K, plus another $200 to have the option in the future to be refunded the full cost in the event I do not use the warranty. So I look the extended warranty as a free option if something major does happen, and if a minor thing does come about, then the cost of that repair will whittle down the initial outlay of 1200.

Warranties are a very personal decision. From a financial aspect, yeah for the most part they dont make sense and are a huge profit center for the seller. But tell that to someone that has used theirs to cover a large repair and they will tout the benefits of a warranty. All about piece of mind.

 

Save your money. Do not get the extended warranty.

 

I know how great these trucks are and yes doesnt mean there bullet proof. But the truck should still be covered for sum time jus with purchase right...? Im really thinking of calling them and saying i dont want it...

 

Most if not all of the stuff that fails is not covered anyways or is covered by a TSB.

 

3yr/36k bumper to bumper, 5yr/60k powertrain is standard.

 

I wondered the same thing when I bought my 2015 6+ months or so ago, so I did some research (thanks largely to searchable info in TW). Fellow TW'ers, please weigh in if anything I state below is incorrect:

1. don't buy an extended warranty from the dealer when you buy the truck - no matter how much of a discount they say they're giving you, you're going to pay too much. If you do want the coverage, shop around, after gleaning the latest info from TW (and elsewhere) on the subject. There may or may not be a restriction that you have to buy it from a dealer in your home state, but search the other TW threads for details on that.
2. except for year-to-year price inflation, the quoted price for the extended warranty will be the same whether your truck has 1 or 35,999 miles on it.
3. The Catch - it was explained to me that the cancellation/refund policy is such that you will be refunded an amount based on the number of unused years (or miles, I guess) remaining. This sounds fine until you consider that the 6-year extended warranty, for example, is really only 3 extra years added to the standard 3-year factory bumper-to-bumper warranty, so if you cancel after 2 years you'd be refunded only 66% of the value of the extended warranty (4/6), even though none of those extra 3 years has kicked in yet. So if you no longer have the truck (totaled, sold, whatever) at some point during the first 3 years, you lose - and the powertrain warranty is 5 yrs/60K, so the extra coverage is even more diluted/non-refundable for powertrain issues. I was not aware of the $200 full-refund option TacomaMike37 mentions above.

So my conclusion was, and still is, to wait until my truck is closer to 3 years/36K miles and decide (and shop around) then. I'll be 65 at that point so the peace of mind of having most major things back-stopped by Toyota might be more appealing - we'll see!

 

OP posted a question about his second gen tacoma in the second gen tacoma section. Where the hell should he have posted it??

 

Thanks for clarifyin miami75. I knew there was somthing like that. Ima go ahead and cancel it. Save me sum change so i can get sum beefy tires and lift... Thanks agian everyone...