Anyone opt for Platinum Extended for peace of mind?

Considering all the hysteria over 4G quality control, has anyone opted for Platinum coverage? Is it a scam? Should I consider?

 

how much is it?

 

I think $1200 is what I was offered?

 

Bought it for my 3rd Gen since I don’t trust it like my old Toyotas, nor are the late models as cheap to fix as the old stuff.

What is an out of warranty engine install going for these days, $15-20K? Trans are what $7-9K?

Perhaps gone are the days of keeping a Toyota forever, might have to trade-in before the warranty is up now.

 

Warranties and insurance are a close cousin to gambling, and the house always wins.

Me personally, I decline all extended warranties.

 

Same here, a lot of the times (not all) they find some loophole so they don't have to pay.

 

Don't pay more than these prices:

 

That really isn't bad when you are talking a 60-70K vehicle. Does it extend to 100,000 miles? With all the electronics and new engine and transmission I would probably do it.

 

I think extended warranties are a scam...That being said, on a first year of a massive change to a hybrid and new motor I would consider it. I don't normally buy the first 2 years of a major redesign but if I had to I might in this case...however, most issues are going to be early on and covered under factory warranty.

Yes, I am all over the place here...but I think I would still skip it.

 

Generally speaking, only pay to insure a loss you can't absorb.

What I don't like about the extended warranty is it has both a time limit and a mileage limit and you have to get both of them right in order to win. I mean this is pretty standard right, but it still is something to consider.

Not only that, your repair needs to exceed the price of the warranty to break even.

So you have the opportunity to wait until your factory warranty is almost expired to buy. I don't see the incentive in buying now. What happens if the truck gets totaled in the next three years? What happens if you sell it? You hate it? You get divorced? You decide you want a minivan?

OK the warranty is transferable.

But I would rather have $1400 in my pocket for 3 years and the next guy can deal with the warranty. If it's worth buying today, and you have the money to do it, put that money into a CD and wait 2 years. If you still want it in two years, take that money out and buy it.

Here's the thing to consider. Why buy something you think you will need the warranty on? If you don't think the trucks are reliable, don't buy it.

It's like buying a house in a floodplain and saying pssshhh oh it's no big deal, I've got flood insurance.

Maybe it would be better just to not buy the house in the floodplain.

 

Customer of mine whose brother’s sister’s former roommate that used to work at a dealership said that extended warranties only cost the dealers $50-100.00. And use that knowledge as a bargaining chip.

Sounded too good to be true, and probably is.

 

Great points!

 

Great chart and exactly what I paid for the 7 year 75k plan. Gramma’s AC just went out in her 2019 Accord at 50k miles. Dealer price to fix is around $4500. If literally anything goes wrong & the warranty covers it, it will pay for itself with how expensive everything is now. And if not, well, $700 is worth the peace of mind. Dealer offered the extended warranty to me for over 5k and I lol’d. I always purchase it after the fact from volume dealers in the warranty game.

 

I always opt out of extended warranties. I generally keep a vehicle 5 to 6 years, then the itch to get something new sets in. You can usually get a great trade in for a vehicle that age. I traded in a 2019 Chevy Colorado Z71 for my 2024 TRD Sport, Toyata dealer gave me 25k for a vehicle I purchased over 5 years earlier for 29.9K

 

I would normally say no, but this is a new engine, new transmission, and a sh*t-pot of electronics so I sprang for a 10/100 plan.

 

My sentiments exactly

 

Can I ask how much you paid, what trim and what state? I paid $3500 for 10/100k for the Trailhunter in CA and feel ripped off

 

Cancel it and see post 7 with the prices of what you should pay. Contact Jerry and he will get you that price: jerryj@midwestsuperstore.com

 

This^

Jerry is the man! Super friendly and the best prices.

 

Question?
If your so concerned about the reliability on the fourth jen then why are you buying it anyway? To buy an extended warranty is the same as admitting to yourself I suspect I am letting myself buy a possible piece of junk. Has Toyotas quality fallen off that much? Id consider another vehicle. You should know if your vehicle is junk or not while still under warranty and odds are anyways you will have gotten rid of it before ever using the extended warranty. Its a waste of money then and the salesman gets his bonus for selling it to you. He makes money off of you buying into that.
I would be concerned as well with what I read on Tacoma World about the 4rth Gens and even some of the 3rd gens. Toyotas quality is not what it used to be and their vehicles are way over priced. I've owned Toyotas since 1989. That tradition ended in 2021 when I bought a new Mazda CX5. Reason? Toyota would not stand behind their cars like they once did. I am looking at a Honda Odyssey to replace our Sienna as primary vehicle soon. I will keep my 17 Tacoma and the older Sienna. They were both great cars when Toyota could build a great car. Not sure what is going on with them anymore.