Extended Warranty

What does the extended platinum warranty cost? I’m at 27,000 and I have an appointment tomorrow at the dealership for oil change. Might do it depending on what I can find out.

 

You might have to be the test subject bro... gotta ask for us so we can get an idea..

 

Shop around, there are deals out there.

 

When I bought my truck I was quoted $2,000 at first. I ended up talking them down to $1,300. He showed me the dealer cost, not sure whether I believe it, and it was ~$1,000. This is for a 7yr, 100k platinum warranty.

 

Damn. I always have to go first. Ill be back tomorrow with an answer.

Will do. Do different dealers have different prices for the platinum warranty or does the warranty package change with the price?

Good to know. I’ll definitely see how flexible the cost is.



Edit. What would lifting my truck 1” do to this warranty?

 

subd for results .

 

I vote getting rid of the 3rd party and getting the Toyota warranty. Got a throwout bearing replaced, power steering pump and rear diff replaced under it no questions asked.

 

You had my interest but now you have my attention sir.

 

Question . The Tacoma comes with a 5 year 60 k powertrain warranty . when getting a 7 year extended , it only adds 2 years ?

 

I spent a couple years designing and pricing extended warranties for durable goods on the OEM side. I've seen millions of lines of claims data and created prices based up those claims, admin costs, and expected margin.

Classic case of "the house always wins" on average. Extended warranties are big business and can carry big profits.

The only time an extended warranty makes sense for the consumer is if you simply can't afford an unexpected repair bill and would rather know you're paying more upfront OR when you're buying a high risk item.

Toyotas in general are extremely reliable and therefore very low risk profile from an insurance standpoint. I'd be surprised if you racked up $1700 in covered repairs in 7years. Even if you broke even, you're still losing because of the opportunity cost of that money and the interest you're likely paying on it.

Skip the warranty, put that money in a savings account!

 

Throw out bearing design sucks and was worn from normal everyday use. The PS and rear diff were more my fault (off road related casualties). PS got fixed quickly, but the rear diff was slightly more of a process because by then I had moved from Cali to Key West and the local dealer was not great. They "couldn't" find any information of my warranty and wanted me to pay $1800 to fix it. Talked to corporate and my truck was fixed within the week.

 

When I bought my truck (Last month) I was told you only get a 3yr 36 mo powertrain, so only the powertrain. Toyota care for 2 years with the maintenance and so on. the 7 year bumper to bumper is for all the electronics and powertrain. so basically everything the basic is plus all the sensors and crap. It has a $100 deductible at other dealerships if you need to have repairs there (deductible is waived if the repair is made in the dealership you purchased truck at), towing, and rental if your truck is in the shop for a extended amount of time. Probably other stuff im missing.

EDIT: All the people saying the interest i have to pay on the 1700 for warranty is huge, I'd like to add i have 0.9% APR on the truck so effectively Toyota is lending me the money for the truck for a whopping 230 bucks when the loan is paid off. Win on my end? possibly... That interest also has the "Warranty" applied to it

 

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There are a couple Toyota Dealers that sell the Warranty online, but at some point, Toyota frowned on it due to other dealers bitching. The selling policy was changed and I think it has to be in the same State you are in or over the phone or something. Anyways, I contacted a few of the Dealers online and took the price quote to my Dealer and used that to bargain, went with 8 Year, 125K, Zero Deductible.

 

UPDATE: Just talked to my financial guy the 3rd party im using is called Costguard, Apperantly been with the dealership for 18+ years and is the most reputable within the 3rd party group. apperantly i get more flexibility with them? covers repairs not only from toyota but other shops as well. More research will follow for this company.

 

What if you happen to be travelling out of State where you can't go back to the Dealer you bought it from? With the Toyota one you can definitely use any Toyota Dealer in the Country and it also includes a loaner car if they need to keep it.

 

This is for the 2016 .
Basic Coverage1 36 months/36,000 miles (all components other than normal wear and maintenance items).

Powertrain Coverage1 60 months/60,000 miles (engine, transmission/transaxle, front-wheel-drive system, rear-wheel drive, seatbelts and airbags).

Rust-Through Coverage1 60 months/unlimited miles (corrosion perforation of sheet metal).

Emissions Coverage1 Coverages vary under Federal and California regulations. Refer to applicable Warranty & Maintenance Guide for details.

Edit
https://www.toyota.com/owners/resources/owners-manuals

 

Stated above I get free towing (Maybe to closest toyota? or in a perfect world to my original dealer?), I also get a rental (Dont know if there is a limit to how many days of rental i get) and if I go to another dealer to get it fixed its a $100 deductible anywhere in the USA or the Continental 48 states...

http://www.protectiveassetprotection.com/Portals/0/Highlight-Sheets/CostGuard-Info-Sheet.pdf

This is what i found.. the exclusion list is a bit overwhelming...

 

You're in the business you should know better than to call it a "warranty". Imma tell your boss mister!

 

lol ehhh tool boxes have wheels for a reason. been with Toyota/Lexus 10+ years don't really matter where I go hahahah