Anyone hear of "Premier Performance" extended warranty? Good or Bad?

Pretty sure it's 3rd party. Wouldn't I be better off with Toyota Vehicle Service Agreement Platinum?
Thanks

 

Some of us, myself included, would argue all extended warranties are bad. The last/only one I fell for was back in 1988; since then I've tracked how much I've saved versus how much would have been covered and I'm over $20,000 ahead of where I would have been if I'd purchased the warranties; in fact, the only car where said warranty would have been beneficial was my wife's 2012 GTI. Said another way, take the money you would spend on the warranty and stick it in a savings account somewhere, then draw against it when an unscheduled repair of your vehicle is needed; the odds of you having a considerable amount of money in that account when you are too old to drive are virtually 100%.

 

You might be better off keeping vehicles up to when the factory waranty period expires and replacing them with a new model. If you want the vehicle you are driving to be covered under warranty.

 

Warranties are insurance.

Bit of a gamble based on unknowns, almost always profitable to the seller. Meaning little benefit to the buyer (on average)

To your original question though, I've never seen a 3rd party policy that wasn't jam packed with small print exceptions.

Regardless of what Ice-T is hawking on TV

If your heart is set on an extended warranty, agree that Toyota is the best choice. Assuming you buy it at a good price and have a dealer who won't dance if you show up with a problem

 

This! But do what helps you sleep better at night.

Carry on!

 

From what I’ve read here you can buy a Toyota VSA up to the 3/36 for the same amount. After that point the risk goes up for repair so any VSA cost will also be higher.

Toyota on the whole is more dependable. But 1 $3,500 repair and the warranty pays for itself.

 

Oh boy.
I purchased my truck for cash on last day of month , end of quarter at a dealership I’ve used for 29 years. We negotiated 10 year/100k for $893. Clearly that is their cost basis in 2017. Hope that helps.

 

That's about what I'm looking at. I think that would be worth it.
i don't plan on spending much more.
This would be the first warranty I've bought, usually not a fan.
But with the complexity of vehicles these days it would give me some peace of mind.
Thanks to everyone for their help.

 

Problem is, now-a-days lots more things that can break in a car than in 1988 that we can't fix ourselves, especially electronics.

 

Yet another sky is falling argument; the fact is, extended warranties make the companies offering them lots of money. Why? Because on the whole, it doesn't cost that much to repair a vehicle over the course of a warranty plan. My argument is over a lifetime of vehicle ownership, virtually 100% of vehicle owners will come out ahead by self-insuring; yeah, an extended warranty may well pay off on a vehicle or two, as it would have with my wife's former GTI, however, the dent it made in my fund for vehicle maintenance is trivial compared to how much I've saved on other vehicles.

 

You shouldn't buy car insurance then, or home insurance either.

 

Nice try, but that is a piss poor argument. Car insurance is mandated by law and you cannot get a mortgage without home insurance.

 

To be contrarian, which would you rather have.... A carburated or a electronic fuel injection fuel management?
Which has more parts? Which will last longest with no problems.

 

Yet that doesn’t stop thousands of people out there driving without insurance or people with homes paid off from not purchasing home insurance.

Also, no need to buy health insurance either. That’s not mandated by law.

 

And.... I'm getting older and can't do the repairs like I was once able to.

 

I would not recommend a 3rd party extended warranty, at my old Ford dealer I know theres a few warranty companies we would refuse to accept since they rarely answered calls/didnt want to pay the bill. They also have lots of exceptions in the small print so they dont have to cover stuff, for example once I had a F150 where the brake caliper locked up and cooked the pads/rotor, the warranty company would only cover the caliper and brake fluid, not new brake pads or the new rotor because as far as they were concerned only the caliper failed. Sometimes on larger repairs over $1000 like replacement transfer cases/transmissions/ect they want to send out a inspector who needs to look over the vehicle before approving anything, it can take 2-3 days or more before the inspector can come to the dealer.

If you can get a toyota extended warranty for around 10 years/120K miles for around $1200 then I would do so, now the Ford extended warranty did have a $100 deductible per visit, if toyota works the same you can hold off to get all your complaints in one visit and you only have the $100 deductible despite having 10 different issues fixed.
I believe members here have used wolverine toyota to get a really good deal, you dont have to buy the extended warranty from the dealer the truck was bought from, it can be from any dealership.

 

That isn't the point; the argument is, self insuring will save you money compared to buying extended warranties; even if you're paying someone else to do the work.

 

Your arguments are still irrelevant. Paying for a new water pump isn't the same as paying for a new blood pump.

 

LOL, please put the bong down brother! Ever heard of the "Obama-Care" act? The Federal government absolutely mandates you have satisfactory health insurance, either yours or theirs!

 

My Tacoma made it from Mexico legally. It doesn't get free insurance.