Purchasing the warranty on a certified vehicle?

I just bought a 2008 Toyota Tacoma which was certified by Toyota with 45k miles on it. When I bought it, I purchased the extended warranty from the dealership to get bumper to bumper coverage through 100k miles, not knowing that it came with a 100k mile drive train warranty since it's a certified used vehicle. Do you guys think I need the bumper to bumper warranty? Most of the expensive problems would probably happen to the drive train, and I'm already replacing the full suspension with OME components. Can I call the dealership and cancel it for a refund?

 

Yes, you'll have to go up there most likely and sign the cancellation form.

 

Is it a Toyota Extra Care Plan like a certified platinum plan?
On the back of the paperwork given at the dealer or if you already got it in the mail, there is a paragraph on cancelling. Within 30 days of purchase, you only get charged an admin fee..it was $25 not sure now what it is. After 30 days, they pro-rate it. At least that was the way it was for me with a Toyota Extra Care Platinum Extended a couple of years ago. Your dealer's finance guy can do the paperwork. Mine did.

 

I'll have to look into canceling. Do you think this warranty is worth keeping?

 

I called and they said they'd refund what I payed for the warranty to the bank my auto loan is through but it would not affect my payments. I'm probably going to do it because it seems like the drivetrain warranty will cover the 4x4, engine, and tranny.

 

I agree the most expensive problems are with the drive train but if you keep up with maintenance then failures there are extremely rare. The most likely problem areas, and still quite expensive to fix, are covered only in the bumper-bumper. Things like A/C compressor, power steering, electric window regulators, alternator and anything else electrical, brake components (usually excluding pads/shoes).

Even things ON the engine that you might think are covered by drivetrain warranty frequently aren't that could include things like MAF and other sensors (knock sensor and crank position sensor) that are cheap but a total pain to get to.

So look at the 'bumper to bumper' to see what's NOT covered. If the list of parts doesn't say it don't assume it's covered. It's kinda annoying but you have to be pretty knowledgeable of what parts are in a vehicle to evaluate whether an aftermarket warranty is any good. Only too frequently you see a nice long list of parts, but if you READ the damn thing and think about each part you see it's only anvils in it!

 

Just had to shell out about 1000 to have my pwr steering rack rebuilt at 85k due to leaking. If it doesn't affect your monthly payments, my suggestion is to just leave it alone and keep the bumper to bumper, especially if the money doesn't come back to you. With all the other non drivetrain warranty items that 2nd gens have had, I'd just keep it.

 

You may want to follow-up with the Dealer & Bank to make sure it gets done .. sometimes dealers procrastinate sending in the Cancellation. On another note.. "seems like the drivetrain warranty will cover the 4x4, engine, and tranny." really is not a good strategy. You may want to read the Fine Print and find out which Powertrain components are covered..AND if they're covered if you modify your suspension. I'm familiar w/some Warranty coverages and know that some Warranty companies will NOT cover Powertrain components if the vehicle is lifted and over certain factory specs due to the driveline angles etc. changing. If you're still in doubt.. go back to the Dealer Finance dept. and have them go over it in more detail w/you.. you're the customer they're the ones selling you a product. GL

 

I got my 07 in Sept with 46000kms and it had 2 year powertrain on it already. It was a Toyota certified used vehicle. I had the option to buy 3 years comprehensive and/or an extra year powertrain. I took the 3 year comprehensive only. I'm already after using it once already to fix a squeaky driver door, will be getting the squeaky leaf TSB done on it at some point too and I already have another problem with it...a squeaky fan.

 

You didn't say how much you paid for the extra warranty so it's kind of hard for me to say if it's worth it or not but I personally wouldn't buy a bumper to bumper warranty on a car that I already had a drive train warrany on since the drive train is what is going to be expensive to fix.

 

I would cancel immediatly

 

I bought the 100k bumper to bumper with no deductible for about $1000. So far have replaced a starter, window regulator and compass. With out the warranty the bill would have been around $900, so was definitely worth it for more. Doesn't take much in the PS, AC or other electronics to add up to the cost of the warranty. If you can afford it, I would say keep it...

 

$1400.

I could have gotten 2 years but it was only slightly less so it didn't make sense. I just feel like I now have ease of mind I guess. Plus aI already have gotten back perhaps $200 of it and I've only had it for <2 months.