Extended Warrany

In my case, I had the truck for only 5 months. I’d agree with you partially, I bought the 6/75 warranty to cover the non-powertrain items for years 4,5,6 and then the powertrain for year 6. For the $645 I paid, it was worth my own personal piece of mind to cover the extensive electronics on board the newer trucks.

I’m more than willing to agree to disagree if this was worth it. I understood going in that any time surpassed (even as the factory warranty ticked at the same time) would eat into any potential refund. But, then again, I was also buying the truck to keep for the long haul (8-10 years +), it just didn’t work out that way.

I was just pointing out that the warranty wasn’t non-refundable, which many of the “dealer” backed plans (paint protection, etc) aren’t.

 

we each need to make our own decisions, based upon the best available information.
my only interest is to inform, to help people make a decision from a position of knowledge.

Depending upon an individuals proclivity for diagnostics and ability to find a good third-party mechanic, I suggest that by the time the original warranty runs out most electronic parts are readily available from junkyard donor vehicles on eBay for far less than the new price the finance people scare buyers with. We’re already seeing $10,000 14 inch multimedia displays on eBay for a small fraction of that.

 

All fair points.

 

It is interesting the divergent of opinions. Some say extended warranties are a waste of money and just throwing it away. Some say it is a no brainer due to all the new electronics

I don't understand why some feel the need too preach to those who feel otherwise.

It is a personal decision

I always avoided the Extended warranties as they cost thousands and typically don't pan out. Toyota Dealer offered me one for $3400. That wasn't worth it to me and I declined. Through this thread I found the same exact Toyota Factory warranty for $1360 for 10 years. That made it interesting.

My 2014 Toyota Land Cruiser Amplifier failed in year 9 with no extended warranty. The new amplifier is $1600(part only). I found a reman one for $800 and replaced it myself.

As an engineer I went through the new Tacoma and in my view the amount of electronics has significantly increased. Like stated earlier, the screen is $10K or $1K at a junk yard and that doesn't include labor.

I had to replace a steering rack in a 2004 Land Cruiser at 9 years at $1100. A common issue not known about until years later. Items like that are hard to predict to those at Toyota setting the warranty prices. And whomever owned an 80 series Land Cruiser knows about the faulty pesky Heater hose that didn’t fail until 7+ years of use. Not to mention head gasket failures. Though those typically where 125K+ miles, but not always.

I agree with the argument that the prices from the factory (Before dealer mark up) are evaluated over a population to make sure Toyota makes a profit.

I also know that most electronic failures have a bathtub failure rate. Meaning the majority will happen early on during the original warranty period and work fairly well after that, but not all.

I like that I can transfer the warranty to a buyer should I decide to sell in 6 or 7 years. If you were buying a 7 year truck and found 2 identical in every way except one still had a factory warranty for 3 more years, which one would you buy? I would go with the one with the warranty as you never know how the previous owner took care of it. I tend to own vehicles for 10+ years so resale value isn’t a big factor for me.

To me, I bought a brand new generation new design that has all new electronics. This new system doesn't have a lot of time on it. Any of those systems requiring repair would easily surpass the $1360 cost for a 10 year warranty.

This same year we got a Cadillac Lyriq for my wife. They wanted $4800 for the extended warranty. That isn't worth it and my wife typically only keeps cars 6 or 7 years.

I paid cash for my truck and then separately paid $1360 for the warranty through Troy discussed earlier in this thread. Sure I can pay for repairs if they are needed after the warranty expires. To me it was the right decision as it was at the risk to value point for me personally. What the selling Dealer wanted for the same warranty wasn't. Everyone's risk to value point is different and I am confident I made the right decision for me.

I am sure even those that are completely against it would be intrigued if they could get a 10 year Factory warranty for $1, how about $100 or $200? $1360 set the right value for me.

I am not disagreeing with the arguments against as they are all valid. So are the arguments for. I am 64 and this is the first extended warranty I have ever bought and I have owned a lot of cars. The value wasn't there and I typically work on my own cars. Integrated electronics are something else. The lesson for me was when I installed an ARB Rear bumper (Only sold through Toyota Dealers) using the provided Parking Sensors, the system wouldn't operate and had dash lights like a Xmas tree. 2 dealers wanted $600 just to register and calibrate the new sensors on my 2024 Tacoma. That is an example of working on a fully integrated software hardware system which is unlike previous generations. Fortunately for me I had the stock bumper sensors and installed them into the ARB Rear bumper and everything worked and doesn't look to me like any recalibration is required.

Do what you feel is right for you. Then you will have no regrets. If I go 10 years without any issues, I will be estatic and have no regrets.

This thread lacks pictures so here is my 2024 Tacoma TRD Off Road that I have modified with ARB Rear Bumper, RCI Pike Front Bumper & WARN winch, RCI Skid Plates,CBI Sliders, All Dogs springs, 33" Toyo AT# OC tires including the spare. Ham and GMRS Radios, Molle Panels, OEM Tonneau Cover. I love this truck and glad I found a factory warranty at the right price point for me.

 

These are my thoughts, 100% and more eloquently stated than I could. This was also the first vehicle I purchase an extended warranty for. The dealership offered extended coverage for around $2500, which was past my comfort point. Through this forum, I found Troy and found a plan with miles and cost that justified the purchase for me.

I am not a mechanic, but I have seen enough new tech fail in vehicles to know that replacing a head unit or other electronic gizmo 5 years from now could easily surpass $645 or $1300, even if the parts were free. To each his own.