Extended warranty worth it?

You sue me, my liability insurance pays off. NOT the collision insurance. Do you really know so little about the insurance you are buying? I have owned more than one "junker" vehicle where I elected to not carry comprehensive or collision. But I did carry liability.

 

The problem is, you paid too much for it. IE I have not financed a car in 30 years now. So no finance charge to pad someone's profit margin. If you manage your finances, you can be your own insurance company, and YOU get to keep the premiums and invest them to draw interest, rather than letting Toyota do the same. You just have to manage your finances reasonably. Borrowing money to hedge against a future failure would, to Dave Ramsey, sound like you are buying something you really can't afford to operate.

 

I have an 07 that has had nothing fail. Only trips to dealership were for the recalls. Your "will easily pay for itself" is not quite accurate.

First, you paid $1000 NOT for an 8 year / 100K mile warranty, but instead you bought a 3 year 40K warranty since you have the normal 5 year 60K powertrain warranty to start with. You added 3 years and 40K. If you look at the graph of failure rate vs age, there are far more early failures than late ones. There is a 90% probability or so that you just added a clear $1000 to the dealership's profit for that sale, assuming that you keep the truck for 5 years. Otherwise it is a 100% probability.

 

Honestly, who really gives a flying f*ck?

You can throw your numbers out there all you want, graphs, charts, probabilities till you are blue in the face, but there is always the chance that shit can happen no matter what math you throw around the forum. I hope your Tacoma and others are bulletproof till we sell them, but I guarantee some of us will have issues when the warranty passes.

PS: The extended warranty is bumper to bumper, so you get an additional 5 years of bumper to bumper vs 3.

 

With all the issues, big or small many are having, I'm happy I got the extended warranty. With all these little seemingly insignificant things happening to many owners, these aren't of much concern because of the factory warranty, but just wait until these trucks are out of factory warranty and these issues keep popping up. The seemingly insignificant title problems could end up costing you quite a bit. I'll probably only own the truck for 100k miles anyway, so I know I don't have to worry about anything while owning the truck.

 

My brain hurts when people start talking what's and how's best to spend your hard earn cash. My father-in-law just forked out $25K of cash (he just inherited from his passing wife) on a Toyota Prius which he bought at a model year end when Toyota begged people to come in and take away their last year models with 0% financing. Is it stupid? yeah, but it made him feel better that he owns the car then f$%k it, he'll do what he wants.
I walked away with 1.8% financing on a $40K it's someone else money that they're risking. If I get into a car accident, I'll let the insurance work it out with the bank plus my GAP, I'll walk away free and clear and get another car. If I was financially responsible I would just drive my little Scion xA to the ground and not having to deal with depreciation and all bullcrap on a new car. Should I lose sleep at night with extra $300 for my 7year/100K warranty, it's practically small potatoes.

 

They wouldn't push a warranty if they didn't make money on it.

Just saying.

 

You actuall believe that?


They wouldn't sell cars cash up front if they didn't benefit on it, just saying.

 

Now that you own the truck, and reading reading about the loudest yelling members about issues, do you think in some small way that they are either super OCD or just have buyer's remorse?

I too read about all these issues, and when I drove/bought my truck. I didn't notice anything. 6K miles later, I still feel the same way. It's been solid.

 

I have extended warranty, but didn't get there yet. The truck is at 34K miles with some change... and now I'm seriously thinking about cancelling my extended warranty....

My battery died last weekend and with a 23 months old truck with 34K miles on it, the battery is still under warranty. Went to the dealer and was told that yes, the is still under warranty, but that I am out of luck, because I have an aftermarket shit installed.


Long story short, I called them few hours later, mentioned Magnuson-Moss Warranty Act and they are reimbursing me for the battery I got elsewhere.

 

Usafwx. I work for a vehicle service contract company as a mechanical claims adjustor. The worst calls I get are from contract holders that purchased "bumper to bumper" contracts. There is no such thing. They are unicorns. Service contracts are great, but you need to really educated yourself on what it is that you are purchasing. For example: is it a stated items contract or exclusionary? If exclusionary, what is the list of excluded items? Read through THE ENTIRE contract. Don't EVER trust the F&I guy or salesman. They literally have no clue what they are selling and will tell you what you want to hear. So, having that been said, if you have questions on a vehicle service contract, PM me. I will help you understand it as much as I can...since I read ours every day, multiple times.

 

Seriously? Idiot ass dealers, fuck. Leave them a bad review if Toyota Corp reaches out to you, I did with Miller Toyota in Anaheim.

 

Well I don't want to illegitimize there issues, I do find it to be a small fraction as I for one have absolutely none of the issues, and trust me I've looked hard.

 

If you go to Toyota Financial Services the Platinum Warranty seems to be bumper to bumper.

 

.
Extended Warranty Percentages Of Use .... BMW is highest and Toyota is very low = http://www.consumerreports.org/cro/...ties-for-cars-are-an-expensive-game/index.htm


Does anyone have a link to a copy of the Toyota NA OEM Platinum Warranty .... ??

I would like to read the complete warranty .... before I consider buying one.

Thanks ...
.

 

http://www.sc.toyotafinancial.com/web/tfs/pub/contents/vsa/TFS_VSA_Platinum_VSA_eBrochure.pdf

 

I would just ask that you remember: just because it isn't happening to your truck...and it might not be happening to *most* trucks..to not fall into the trap of thinking that its not happening to some trucks.

I have very real, reproducible issues that I wouldn't have ever expected from Toyota. I've grown to love my truck. But, I had a lot of buyers remorse as I really started noticing the problems ~350miles and even more so when I have to leave it for 2 weeks to have major components replaced (with little effect). I think I finally got lucky with an excellent service manager and corporate rep. I was ready to go full tilt. They fixed what they could and gave me an extended warranty to settle my nerves/alleviate some frustration.

I still get a tad annoyed when I notice the rumble strip. It might be getting a little better (or I'm just getting so used to it). And it still howls at speed...but we've bonded and I love it. I dont like it all of the time, but I love it.

 

At least you admit you are financially irresponsible. Maybe caveat all financial advice or comments you give on this forum with that. For example: [I suck with money]Invest in BeanieBabies and commemorative coins! You'll make millions which you can roll into Bitcoins[/I suck with money]

 

pad -- verb -- "to add to..."

Of course they make money when they sell a truck. Then they make money on the financing if you use the dealer's financial offering (even if it is a local bank, the dealer gets part of the finance charge). And they make a LOT of money on the extended warranty. Why do you think Best Buy, wal-mart, shoot EVERYBODY offers you those extended warranties at point of sale? There are studies you can find showing just how much money they make off of those.

I bought a thing or two at harbor freight and the clerks there have been offering me extended warranties and have discounted the merchandise to exactly offset the price of the extended warranty (apparently they get a commission). I don't care how the money is allocated just so the price doesn't change. I have a 3 year warranty on a standing tool chest, whatever that means.

 

There is a well-known quote, "good decisions come from experience, experience comes from bad decisions." Some of us are just trying to help people make a good decision without first having to make the bad decision to get the experience needed. Everyone is free to spend their hard-earned money however they want. And everyone WILL learn that these extended warranties are for the dealer's benefit, not the customer's.