Should I get the extended warranty

Yeah true, but as cars get more and more electrical components in them there is a higher chance of failure. I purchased the extended warranty for my Taco because of the electronics not so much the engine. And if you get it for a good price it's a great deal.

I got mine for around 1200 you divide that by 120 months, im essentially paying 10 dollars a month for insurance if something fails.

 

I was told that as long as you have records of said services you will still be covered. For example a receipt for oil and a paper receipt written up for Milieage. Or if you go to a Indy shop you keep the records.

 

Not worth it in my opinion. Get mechanical coverage from your insurance company instead. Just the dealer trying to make a buck

 

Nah, no schedule maintenance needed. I just used my 7yr warranty for the first time since it was about to expire in 3 weeks and they never asked for anything.

 

BS man

 

I would personally have them highlight that section in the warranty fine print and store it in a fireproof safe if I paid the money for it.

If you could get that for $1000 bucks and not have to show maintenance records that seems like a great deal for peace of mind alone.

 

No you do not have to prove maintenance records. As long as you dont say "well golley gee I've never done any oil changes" then you are fine. That's why you are paying a premium for the extended warranty!!

 

Let me break this down
ALWAYS SAY NO!
UNTIL.... AND IT ALWAYS DOES....drop by at least half price
Then...you still say NO!
After awhile they offer to ALSO drop your interest rate.
Now you say YES! Get the better rate.
In a week, you cancel the plan get your money back and keep the better interest rate.
You're welcome!

 

Ok, I retract that. There may be some extended warranty companies that have fine print that requires regular dealer servicing, but I haven't seIen that before. Again, these warranties aren't from the toyota dealer, they are 3rd party. They are making big bucks so it's not worth their time to investigate every claim.

 

I think the only warranties that require servicing at the dealer is the lifetime warranty that the dealers do on their own.

 

Wait until you're at the dealer 4 or 5 times with problems on your truck, then get corporate to give you a free one. Otherwise no I wouldn't buy one. What is the likelihood you'll keep the truck long enough to even use it?

 

You can buy a warranty from any Toyota dealer. They changed the system; however, so that you have to receive it in person is what I was told.

I shopped my warranty out of state on my last Tacoma. Went to do the same this time and the guys I bought the first one from in Kansas said they'd love to sell me one, but that I had to sign for it there.

Anyone else hear that when they called around?

 

NO..!

 

No

 

Had an extended warranty pay off big time for me on my last truck. 2010 ram 3500. Lost the turbo at 48,000 miles. 6 grand worth of work through the dealer. I paid a $100 deductible

 

Thanks for all of your responses. I'll try to call around for better prices soon

 

Its so funny to me how people on here are genuinely offended that dealerships make a profit, its a business guys of course they make a profit, no one seems to get offended when any other business markup products be it furniture, electronics, groceries etc.... those industries have insane markups but no one bats an eye, a dealership tries to make $3k on a $30k vehicle and people lose their fucking minds

Anyways in my professional opinion you SHOULD buy a warranty, but at a good price. $2,300 as already stated is way too much, I don't really believe people saying they paid $1k for an 8yr warranty as that is below cost but whatever there's probably a part of the deal they're not sharing.

For a 7 year platinum warranty on a 4x4 I think a really good price would be between $1,200-$1,600 and if people think that's a waste well... they obviously don't see how expensive the ROs are coming through the service dept....

Its interesting that everyone in the car business leases new cars, and when they buy used they almost always buy a warranty, again because we see people lose their ass on repairs everyday... But ask people on forums and they say "NEVER lease" and "warranties are a ripoff!", if that was true than why do all the actual professionals lease and buy warranties??

Warranties are cancellable so if you tradine the truck early (or its totaled) you'll get a prorated amount of $ back. If you go to private party sell the truck you'll make your $ back easily with a higher sale price. Think about it if you were in the market for a USED Tacoma and you came across two identical used private party tacomas with 70k miles, one was $20k and AS-IS no warranty whatsoever, and the other was $21,500 that still had 30-50k miles of factory bumper-to-bumper warranty, which one would you buy?? You can also use it as a negotiating chip for private party sales... say you're asking $25k and will take $24k, someone offers you $23k you can accept it but cancel the warranty and make up the difference, although that same person would most likely pay the extra $1k to keep the warranty I know I certainly would on a used 4x4.

ANOTHER advantage most people don't consider is that service writers will work extra hard to find problems because they know you'll be an easy "sale", they get paid on warranty work and will pitch repairs harder they otherwise wouldn't because of course you're going to say yes because its FREE. Used 4x4 Tacoma comes in with 80k miles and still under platinum warranty and you bet your ass they're going to find EVERYTHING possible to fix and charge to warranty, that slight discoloration by your valve covers?? Maybe its a leak maybe its not but lets just replace all those gaskets just in case BOOM brand new valve covers for free.

When you break it down a platinum warranty at a decent price costs you like $250-$300 per YEAR of extra coverage, I spend that in two weeks on freaking gas alone that is nothing to cover my whole freaking truck. I mean seriously $5 a week to avoid any out of pocket repairs, I think you're stupid NOT to, especially on a brand new generation with unkown long term reliability.

Even people that would "NEVER buy a warranty" know there's value in them, if you offered them a FREE 7yr warranty every single one of them would take it. If you offered them a legit 7yr warranty for $300 99% of them would still take it, for $500 80% would still take it etc..... EVERYONE knows warranties on vehicles are valuable its just a matter of cost.

 

It's a gamble. They are banking on you not actually having any catastrophic failure warranty claims past the base warranty period. If the truck survives 60,000 miles or 5 years on the base power train warranty... It's probably good for another 60,000 etc. But you aren't getting that money back.

I'd say the odds are 80/20 in their favor. Raking in the Benjamin's.

 

thats why you don't get BMW's except for motorcycles

 

maybe the older air heads and oil heads. I spent $5k on my K1200S in two years of ownership