$ Warranty Costs $

When I bought the truck in 2007 I added on to the financing $1495 for the 6 year/75,000/$50 warranty.

I am planning on keeping the truck forever, so I called the dealer about extending the warranty even longer. They can't do it. I can cancle the warranty I have now and toyota will prorate it and send some of the money I paid back to the lender. (They did not know how to calculate how much this would be.) If I cancel the 6 year/75,000 I have now I would buy either:

$1425 8 year/120,000/$50 deduct.
$1475 8 year/120,000/$0 deduct.

$915 7 year/100,000/$50 deduct.
$965 7 year/100,000/$0 deduct.

I have 34,000 miles on the truck now. I drive it about 15,000 miles a year.

What should I do? Keep the warranty I have now that I will use up in about 2.5 years when I hit 75,000 miles & let it ride OR should I cancel it and buy a longer warranty?

Thanks for all in-put

 

anyone!?

 

Who would you buy the longer warranty from?

I bought an '09 with the extended, but that was because it was offered to be for $400 only, so I couldn't pass it up. Otherwise, I would not have got it. Look at the '05 and '06 model years... what kind of problems are they having as they get older and high mileage? Toyota doesn't really seem to suffer from mechanical issues (unless I'm missing something... research this) which is why we buy Toyotas, but are there computer issues? Those could get expensive.

Personally, if I didn't see any of the above out there that are consistent issues, I would roll the dice and not get a longer warranty. That's money you'll never get back if you don't use it.

 

We are talking strictly about toyota factory warranty here. Actually you can get your money back...if you pay an extra $250 you get the money back guarantee...meaning if you dont use the warranty at all you get all the money back (premium) minus the $250

 

I would choose to keep what you have. I bought my Tacoma because of the track record of reliability. I havent heard of major issues. Its not as pricey for repairs as the commercials make it out to be.

Ex. one of those commercials said that it would cost over 2,000 to replace a rear end. You can buy an ARB locker and get it installed for $1200 or a new ring and pinion installed for $500.

They also said once that a new tranny cost $3500 when AAMCO will rebuild a tranny for $1000 w/ a warrantee that the tranny will be solid.

Chances are the Tacoma wont have a serious problem (knock on wood) and the chances of more than one major repair needed is less likely. The cost of the warrantee will be the same as one major problem and there is a posibility that the warrantee company will close down or refuse to cover claiming its your fault. My paranoid POV only though.

 

I see where the peace of mind comes into play here a bit, but look at what you typed... "if you pay...you get the money back...". That just doesn't sit well with me!

Again, just my $.02. I am obviously anti-extended warranty, for the most part.

 

The 50.00 deductable is a gold plan, the 0 deductable is a platinum plan. The platinum plan covers things the gold plan will not. Such as a radio for one example. Step up and get the platinum plan, covers more and has no deductable.

 

Get your extended warranty from Troy Dietrich of Greenfield Toyota. He charges almost half of what you listed. As long as your under 36K, you can get a Toyota factory warranty from him. I paid like $830 for a 6yr/100K mi $0 decuctible from him.


As another poster said...it's stupid to pay to get money back...wtf. If that's the case stick with what you have. If you haven't had any oustanding issuesw with your truck so far, chances are your truck will be fine if you take care of it.

 

x2, when i get a new truck, this is where i will go!!

 

I bought a warranty from Warranty Gold, recommended by my trusted mechanic, for my '98 M3 years ago for $2K. Paid upfront to minimize any financial charges. Warranty Gold went out of business 3 months later. If you're going to buy a warranty... pay the extra finance charges to pay out on a monthly basis JIC they go out of business. Toyota will, of course, most likely be around so a warranty from them should last over time.

 

I'd go with the 7 year, 100,000 with a $50 deductible...

 

That is exactly why alot of dealerships do not take any AFTERMARKET warranties. Stick to factory warranties.

 

I had many, many years in the auto business. Trust me...
Never buy extended warranties they are never a good buy.

I know many will disagree but I promise you if you know someone that works in the industry ask them if they purchase extra warranties for their vehicles.... 100% of them will say no, there is a reason for that.

 

The pro-rate plus admin cost may negate any savings. They start pro-rating from day 1 even before the truck's original warranty is up.

 

Ok if you can get money back from not using the extended warranty when does it start?............When you purchase the truck or after the 3 year 36 month is over?

Mike

 

I know of troy and I would consider using him...The prices I listed are eaxtly $100 over the dealers cost....which is a smoking deal because usually they charge close to double... troys prices are great but not much cheaper than what I have listed

 

sounds like I will just be sticking with what I have, not dealing with the hassels of pro-ration and not waste money on buying another warranty. Thanks guys for all the advice!

 

I got a lower quote from Jerry Johnson with Midwest Toyota (jerryj@MidwestSuperstore.com) as compared to Troy. here's what Jerry sent me a couple of months back:

7-yr/100k/$0 Platinum $789.00
7-yr/125k/$0 Platinum $1,009.00
8-yr/125k/$0 Platinum $1,234.00

 

Was that for a pre-runner? I believe the 4x4 rate is more expensive. I think both gentlemen are comparable though.

Troy is just up my way within driving distance. 7/100/0 platinum 4x4 $945 with a $75 rewards rebate for toyota parts/service.

 

Yep, Prerunner. My first quote was from Troy (each level about $90-$110 more than Jerry). Then I got Jerry's quote and mentioned it during my talk with Troy... Troy immediately matched them.