Anyone opt for Platinum Extended for peace of mind?

I bought a warranty once, this was against my own best judgment. Sold the vehicle before the factory warranty was up. The best part is I still get notices saying I have to jump through some hoop to maintain the coverage or I'm SOL. Never doing that again, lotto tickets would have been money better spent.

 

All vehicles today are junk IMO. I don’t trust any of them but what am I going to do? Ride a horse?

 

I'm sure most may know this, for those that don't; you don't need to buy the Service Agreement (aka extended warranty) from the dealer at the time of purchase. You can buy a Toyota Service Agreement from any Toyota dealer at anytime after purchase so long as you are within the original factory warranty. I paid $1250, for a 7 year 125k Platinum Service Agreement. Here's the guy I reached out to; he's all over Toyota blogs.

Jerry Johnson
Warranty Manager
Midwest Toyota
800-530-5789
Cell 620-664-8844

jerryj@midwestsuperstore.com

He's legit, received my paperwork from Toyota yesterday.

 

I paid about the same through a dealer in AZ.

I'd check with jerry first before cancelling. I recall seeing somewhere that non-CA dealers cannot sell a VSA in CA.

 

This is true. That's why the CA prices are a ripoff. I forget the exact reasoning.

 

I agree with most of what's been said already, but I haven't seen anyone say that most extended warranties can be cancelled and the pro-rated refund amount sent back to you. That is another reason to buy it later (before the factory 3/36 expires) since I believe the 'pro-rated' calculation begins on the day/mileage the warranty is first active.
I typically never get an extended warranty on the day I buy the vehicle unless the finance person is desperate and I can tell I'm getting an excellent deal on the warranty - the finance team is typically not ever in a good position to bargain too much, plus the dealers all seem to offer different warranties. If I feel I need one, I'll do my homework after the sale and eventually get one later.
I have had a lot of cars/trucks over the years and I've really only "won" with two extended warranties paying for costs well beyond what the cost of the warranty was initially. Most of the time, I have traded/sold the vehicle and gotten the pro-rated refund amount back before using any of it.
My parents, years ago, bought an extended warranty and the dealer (and a second local dealer of the same brand) didn't honor it for some BS reason. They were religious with service (at the dealership no less). But the warranty wasn't a brand warranty (i.e.: wasn't backed by the manufacturer), and they didn't know that when they bought it, so that was a painful lesson to learn.
Thanks to all for the tip to call Jerry - since I see my truck is now in the transmission TSB VIN range, I'll likely seek out an extended warranty since I have no plans to get rid of this truck after the powertrain warranty expires. Those seem like good prices for the coverage they appear to provide on the surface IMO, and its a form of insurance and peace of mind.

 

Premium I got included 3 or 4 oil changes and if I bend a rim or anything to that nature. Replaced at no charge also got it for my 22 Corolla Hatchback . All this stuff being controlled by the infotainment stuff , I think it’s better safe than sorry .

 

I purchased the platinum 10yr/100k for $1360 from the dealer in Oroville, CA. It's a no brainer (i keep my vehicles for 10 years), imho, considering the techno vehicle we bought. Cheap insurance. On the other hand, if you're an individual that replaces their vehicles within 5 years, then it may not be for you.

 

You'll know if your 4G is a heap or not well before the end of the 3/36K warranty and you can still buy the extended warranty after purchase. After the 6th recall and a bunch of minor problems on my 3G, I sold it and continue to have my 2G.

 

I hate how they calculate the coverage from day 1 when you have factory warranty to 5/60 on the engine and trans. That 7/75 is 2 year 15k miles.

 

These are reasonable prices, i do question the pricing within states? Some states are allowed by law to negotiate the price of insurance/ extended warretys and service plans , However when i lived in florida i was an F,I guy for a very large dealership …i was informed that in florida extended warrentys are a Non-Negotiable item per sthe state of Florida, i did question this while i was in trainging at the school and i was told “the state of Florida is a non-Negotiable state for these services ?? I Reside in state of NY now so im under impression its a negotiable item here , ??? Anybody have some extended insight on this , And to jb-tn. Thank you for posting this informative info
Cheers,David

 

I had to cancel my Platinum Plan and the tire/wheel protection on my 2022 Tacoma as the truck was totaled. I called Toyota to cancel and I received nearly a full refund. I used that money to buy the same plan through Jerry from Midwest Toyota, and had money left over. I totally over paid from a local dealer on my 2022.

 

Getting quoted $2300 for 120K miles / 8 years platinum toyota extra care — no idea if that’s good or bad

 

I bought the 10-yr 125k platinum warranty from Jerry last year for a California truck. At the time he said he could "sell to all 50 states including CA". However I have started seeing hints it may not be valid in CA and just emailed Jerry for clarification. Do you guys have any solid info on this, am thinking of trying to cancel with Jerry and go with the Oroville, CA VSA seller who seems legit based on that 3rd gen thread.


<edit>
Going down the rabbit hole and found
https://www.insurance.ca.gov/01-consumers/105-type/95-guides/01-auto/servcontextwar.cfm
and
https://caredge.com/guides/extended-warranties-in-california


It seems the selling company needs to be licensed in CA and be of a minimum size and back it themselves (no 3rd party underwriter) to sell in CA among other restrictions like only being sold by dealer.

The insurance.ca.gov site says a VSA is cancellable for a few reasons including if you haven't used it yet (but it may be pro-rated on refund amt).

Thus I'm unsure if it is worth asking legal advice about or cancelling, both would have a similar cost of a few hundred bucks. Wonder if anybody has dug up a real answer.

<edit2>
Jerry called me back within 2 hours of sending my email asking about validity in CA. He said it is good to go on my VIN and valid in all states.

I will probably dig into it further, but he does get props for consistent responsiveness.

 

That's good to hear. I know with RAM and their volume warranty hookup, that dealer got caught and issued refunds to all CA residents recently. So I guess it's just a matter of getting caught by CA or not.

Edit: It was these guys: https://www.buymoparwarranty.com/ they are the Jerry for RAM and Ford.

 

Just curious any update on this? I just canceled my VSA that I bought at the local dealership due to being over charged. Now I am shopping around for a cheaper plan for my Trailhunter but I live in CA, few places already told me that can’t sell VSAs to CA and that I would need a out of state Address.

 

Seemed to continue here on last couple pages here:
https://www.tacomaworld.com/threads/toyota-extended-warranty-plan-purchase.791269/page-14

In brief Toyota says it doesn't matter where you buy it. I'm in CA and stayed with the warranty bought from Jerry. The linked thread does also have some input from another dealer seller in CA.

 

Are you looking at dealer-sold extended warranty? That is the only type of warranty that is legal to sell in CA. It also has to be sold by a licensed seller. Toyota in TX is licensed to sell in CA, screenshots in one of my posts in that linked thread above. Those 'we are an insurance company and came up with some sort of insurance on car repairs' programs are treated differently in CA and I wonder if that is what you are getting quotes on. I think that is where the confusion comes from for CA plans. Read those links to pages from the CA insurance commissioner I posted they give some detail.

 

good info guys...

 

Got some quotes from Oroville Toyota whose pricing match what everyone is getting from Jerry. Since I am based in CA I feel more at ease buying from Spencer/Richard at Oroville. Quoted me 10yr/100k for $1360 and 10yr/125k for $1795. I canceled the VSA with my local dealership, waiting for that cancellation to finalize before buying the 10yr/125k