Extended warranties

My first real post. Did a little digging and didnt find much, anyways...

I will be purchasing a 2017 Off Road soon. Im trying to figure out if I should get a extended warranty. Im having a little trouble figuring out the specifics of it. In the past I've always made it a rule NOT to buy extended warranties since most things get figured out inside the manufacture warranty anyways.

So, what's the take on purchasing one? What does it cover, total cost in your area, and are there deductibles?

Thanks for all the input!

Cheers.....

EDIT: I plan on keeping the truck to its grave yard if that makes any difference...

 

They sell numerous plans. Some with and without deductibles. Different levels of coverage and how many years coverage.

Price is negotiable. I wouldn't pay more than 60% of the asking price. Also you don't have to buy it from the dealership where you purchased the vehicle. If another dealer is cheaper, definitely shop around, then tell your dealer to match their price.

I've gotten it on my last three new vehicles, and each time it has paid for itself. But you could just as easily buy it and end up never needing. It's insurance!

 

Black Triple?

 

I had my last vehicle and it definitely paid for itself.

Have it again on my Tacoma, especially reading some of the issues on here it's nice having the peace of mind.

 

Can anyone tell me the specifics on the type of extended warranty you purchased? Thanks so far!

 

Nope....LOL

 

I would get the extended warranties because Toyota has a frame rust problems.

 

I have an 8 year/ 125000 mile platinum warranty no deductible free of cost courtesy of Toyota lol

The prices are negotiable and dealers tend to mark them way up. I think for instance a 6 year / 125000 mile plan was around $1100 dealer cost and was quoted $1200 from my dealer when I was looking at buying one. You can buy from any dealer in your region/state, a lot of people play the dealer a quoted me this to dealer b game. You have up until your 3 yr / 36000 mile warranty is up to purchase.

 

Get one, but stick with Toyota's policy. 6,7,8,9,10 year policies available with various miles increments to match your driving expectations. Price may be negotiable, Florida forbids negotiated service agreement pricing, other states may also, but I'm not sure.

 

so you are not allowed to negotiate pricing of the extended warranties?

 

couple folks state it payed for its self, can you elaborate on those statements some more, such as how long did you havethe truck and how did it pay for its self. I have aways been under the impression that payign for extra warrenty is a money grabbing gimick.

 

This and thanks.

 

A good example would be the secondary air pump on the 2nd gens that is known to fail, that's a $1400 repair, thus paying for itself.

If you keep the truck outside 60000 miles/ 5 years it's worth it if you can get it for less than $1500, its transferable to the next buyer, covers a rental car, is backed by Toyota not some crummy reimbursement 3rd party nonsense and contrary to belief these trucks do have issues sometimes.

 

so for me, I have had my current truck for 8 years, 53k miles on it, I was convinced to get the 7 year 70k extended, never used it. probably over paid as well, as I didn't have time to shop and excitement got me.

Using Zmach's example pay 1200 for coverage, and it replaces a 1400 item, ya thats 200 in your favor, but is that worth the gamble?

 

Yep it's a gamble for sure, but even though it's a Toyota it's still a new powertrain and we have yet to see what problems if any may arise down the road, $1500 is what most spend on their lifts here, personally the wiser investment would be the warranty, but everyone has their own priorities and what they are comfortable with. Toyota wouldn't sell them if they didn't make money, but there are also times they probably lose money too, it's just like insurance some would rather have more than none just in case. Good luck with your decision op!

 

Does the power train have a longer coverage than just the 3y 36k? Its my understanding that different parts have different coverage, I thought I read a post where some one put up a chart on this.

 

I got suckered into it when I bought mine, 7 year 100k mile warranty. I guess I don't really mind it at this point, it's peace of mind.

 

Some states (Florida for sure, I think there are 2 or 3 others) mandate that service agreements be sold for list price, no more no less. Its nothing less than state government wearing the mantle of protective big brother making things worse and more expensive for everyone.

According to Toyota, the average Toyota will have 2.2 repairs in years 4, 5, 6. Could be 2 cheap repairs, could be 2 big ones. Or maybe you have none, but maybe you have 4.4. Repairing a power liftgate on a '14 Highlander now. $1,300 plus tax. Maybe you don't fix it and live without a power lift gate...

Toyota's polices aren't big money makers. They're cheap, relatively speaking, because the originating dealership partially funds repairs covered by the policy. Remember that when some one complains that the dealership makes money off of policy sales...

 

What if the originating policy is in another state? Or you make the repair at a different dealership?

 

You could also read the warranty docs that came with your truck...

Failing that there's the Toyota website...