Did you get an extended warranty? With Toyota or Bank?

I took my 2015 in for service and ended up with body damage, after a month or so of back and forth they decided to order me a new 2017 and sell it to me at invoice. Funny how 'Free' service ended up costing me about 5 grand...

 

I purchased an extended warranty through Toyota and never had to use it.

Also I elected NOT to do the free oil changes and did them myself since day 1.

-RJM

 

Depends on the terms of the warranty. What's covered, deductibles, etc.

Lots of small stuff could be less than 1k. If small stuff is covered.

If electronics are covered with a reasonable deductible, that might be handy.

If it's a driveline only warranty, my question would be how many folks have you seen have driveline bits fail prior to the extended warranty mileage? Not many. It's why warranty sales are a financial winner. For the seller.

Don't forget, if you are buying something like a 7/125, you're really buying a 4/89. You have to subtract the 3/36 that came with the vehicle, cause what you bought is not on 'top' of that.

 

I wish I'd been offered a decent deal on an extended warranty when I bought my truck. I wasn't willing to pay the kidney and leg they were asking for it though.

 

^this, also dealers like to play the "electronics are expensive to replace card" a lot. Remember that you have all that covered under the standard factory that comes with the truck for three years, and the powertrain is covered for 5. Since I financed mine for 5 years, pretty much everything is already under warranty for as long as I'm making payments... if something breaks after, well that might be an excuse to trade it in... or I can use the money I'm no longer spending on car payments on repairs. Long story short, there is a reason people buy toyotas, why bet against it's reputation?

 

When they're selling it to you it's the most reliable vehicle ever with all the tech anyone could ever want. When you get in the finance office it turns into the biggest pile of crap ticking time bomb the world has ever seen.

 

I have always seen purchasing extended warranties as a waste of money. Like mentioned above, it’s a bet. And like a casino, the dealer will not make a bet it will likely lose, or even close to likely. Chances are you will spend a few grand on an extended warranty that you will never use. On the real off chance you need it, great, but those times are extremely rare.

 

so true

 

People do not sell warranties because it loses then money.

Which means the vast majority of the time warranties are a complete waste of money.

Do not buy them and don’t worry about buying them.

A total waste of your money on a Tacoma.

Take that money and apply it to your loan.

(Fact: Dealers make a larger profit margin on warranties than they do on vehicles)

 

Okay you guys changed my mind. I have the extended warranty that was purchased through the bank so if anything I got that. Just get kinda worried as I don’t want my first ever big purchase to end up being a giant regret.

Now who’s got good information on balance transfer credit cards?

 

if i call the dealer here on maui for appointment they are booked up 2 months out!!

 

What do you mean balance transfer credit cards?

 

With a 10 year 100,000 mile Toyota platinum.

I also picked up 15 synthetic oil changes for $710 Unlimited mileage and does not expire.

 

Dejavu

 

I was supposed to get a warranty? Oh fuuuuuu—

 

It’s the next thing on my to-do list. Have a Citi credit card who introductory 0% interest is gone and it can’t be swapped over to my other Citi card with no interest.

 

I'll never go back to the dealership after buying a Toyota truck unless it's a recall or an important TSB.

The dealerships are the most expensive in the industry for labor and no better than a really good shop or the work that you can do yourself.

 

This reasoning has to be predicated on the belief that dealerships do good work. I truly believe that majority of the time handing the keys to the dealership results in a net loss for the vehicle condition. Whether it be they scratch it, blow up the engine or anything in between. To hand over the keys for mundane stuff is asinine imo. Risk to gain ratio is astronomical. I suppose it's all relative though. Some people only care about a vehicle getting them from point A to point B today and everything else is irrelevant.

 

You could probably get a different card from a different company and have the balance rolled over. I am not a fan of credit cards from major banks and what not, I use a credit union so I believe my interest rate is about 8%, always. You could try something like that, if you can get in to one. Or shop around.

Financially speaking though, if the interest rate is increasing, it’s time to pay it off as quickly as possible to avoid needing to roll it over

 

I got mine through my car insurance. I can take the truck anywhere I want to have it serviced and it was much cheaper than the Toyota extended warranty