Extended warranty worth it?

it covers everything, the biggest thing is keeping the paperwork in a safe place and not losing it. the plan covers parts and labor just like the 3y/36k btb

plus it extends the Toyota care for the whole 7y 100k

with the prices of tech and the new engine/trans. ill gladly pay 2300 for 100k 7y btb

 

No offense but I had that same offer 7yr 125k for $1100, believe there's another member who is a dealer and sells them too. Maybe you can get a refund and repurchase.

 

none taken im in ohio and ive already made the money back from the dealer....let me explain

I ordered predator steps..got the off road running boards $100
they forgot to schedule me in the system...filled my truck $40
they threw my old plates away...paid for my new plates $65 and filled my tank $60...its on E
at the time they offer free oil changes for life....as long as I own.. $60x21= $1260 at 200k or 7 years for me
already put 1800 on her lol

 

As long as you win one way or another, I was happy when I talked my salesguy out of a free touch up paint pen a week later. lol.

 

Is it worth it ?

That question can only be answered if one has lots of trouble with their vehicle.

I based my decision on my previous Toyota`s that I have owned.

If my new Toyota is as good as the others that I have owned then I would have wasted my money buying the ext warranty, the only part that ever went out on my 01 Taco was the seal in the clutch master cylinder and it did not go bad until I had over 160k miles on it.

 

I always win... im not afraid to go to corp and report...ive reported their service dept before.

they did recall work on my 2000 tundra and they sprayed the frame protector on the back glass (this is nasty stuff it eats in and beds itself), scratched my driver door, scratched the driver side rear door, scratched both corners of the cab...to the bare metal, put the bed on croked 1/4 inch to one side, forgot to hook up rear lights, forgot to replace gas cap.....I was one pissed off owner.

 

um hate to break it to you, but you don't get the full 2300 back if you don't use it. its prorated refund based on the time/mileage of the vehicle and the time/mileage of the warranty.

and technically you paid 2300 for a 4yr/64k warranty since the ext warranty only starts after the manfacturers 3/36 is over.

 

I'm of the mindset that extended warranties are profit centers for manufacturers, since any car on the market today can deliver 100k miles. Yes a small percentage may actually pay out due to a major repair, but are you the "lucky" one that didn't lose money on the warranty? Most folks just have lighter wallets at the end of the extended period.

And that includes appliances, electronics, etc. My philosophy is to bank the money and spend when you need to on repairs as they come up. Putting your mind at ease can be an expensive proposition.

 

...^^^... Decent deal if it's the real OEM Toyota Platinum coverage and not a regional or dealer policy.

 

Wrong. I have the same warranty. I get every single dollar back if I dont use it.
Doesnt take a genius to realize that if it WAS prorated then after 7 years you would get zero back.

 

Interesting, that is not how it was explained to me in F&I but I wasn't going to pay for one anyway, even if it was $500. I come from a family of dealership owners and I'll tell you right now those things are pure profit for the dealer and manufacturer. Toyota Care (the maintenance package) maybe the worst one of them all too. Do the math on standard maintenance over 100k for oil changes and such...it doesn't add up to any savings for the customer.

 

I've got an 7yrs/100K for $5/month so $300 altogether. Some says it's a wasted of money. I say I will have the last laugh.

 

I hear you. Warranties for the most part are pure profit, thats the reason they sell them!

It's a separate rider from an insurance company that is backed by the dealership. We'll see how it turns out 4 years from now ha. I have heard guys on here getting their loot back after the warranty expired. I never buy warranties on stuff unless its at a stupid low price ( which is rare). That is the only reason I got it.

Agree on Toyotacare, that is very expensive for what you receive ( unless you somehow get the dealership to do your plugs in that price).

I will say. I have seen first hand (parents old minivan) the benefits of an extended warranty, but I have also seen the money people spend on warranties vanish as they never used them.

 

Yep my rep did a good job goosing the numbers until you realize with 10k intervals you really aren't getting much for the money. Accountant math is like gambling in Vegas - the house always wins.

 

Perhaps but the odds are strongly against you

 

For that price, its a no brainer. I mean shit, $60 bucks a year. I know people that pay more to insure their damn refrigerator !

 

Lol with your avatar all I hear is Dirty Harry: "You've got to ask yourself one question: Do I feel lucky? Well, do ya punk?"

 

Wait OP, you bought a 3rd gen? I could have sworn you didn't like the third gens, guess I've been away a while...

Anyway, I bought an extended warranty, don't think I'll ever use it. but at this point I'd rather have it if something does go wrong down the road then have to fork out the money OOP when it goes wrong.

 

To good of a deal to pass up. I never said I didn't like it I pointed out some things that people didn't like to hear. It's still a Tacoma I have owned all gens and getting 22mpg in my super quiet new truck that thank goodness hasn't shown any of the known issues am very happy. It's a nice evolution of the truck.

 

In my experience if there is anything defective about a new vehicle it shows up within the 1st year 99% of the time. Get past that with no problems and you're probably looking at 200,000 miles before anything expensive needs replacing. I don't buy them.