Extended Warranty

Hey guys, I'm getting down to the nitty-gritty on a 2014 DCSB and am considering getting an extended warranty (100,000 mile) and am curious what you guys have been paying for them and what constitutes a good deal. Any feedback would be much appreciated - thanks!

 

There's contact info for a guy here that sells toyota extended warranties for significantly cheaper than the dealership... ima see if i can find it..

 

Enjoy..

http://www.tacomaworld.com/forum/2nd-gen-tacomas/32027-discounted-toyota-platinum-warranty.html

 

best deal is not to buy one

 

2 weeks ago I was given a quote of $2500.00 Remember you already have a 3 year factory warranty and This extended warranty starts immediately.

 

I never buy extended warranties on ANYTHING. When I bought my 05 Tacoma used from the dealer they would not take no for an answer on the extended warranty. They spent well over half an hour trying to sell me one. I started to get agitated after I repeatedly said no, and they kept going back to it. Well, what if we do this? Or what if we set it up like this. Then they said well is it about the money, and I said yes, the only way I'm taking it is if that number at the bottom is $0.

In all likelihood the cost of the warranty will exceed whatever parts I will have to replace during that time frame. I extremely dislike high pressure selling, they went above and beyond that however, and were downright rude and offensive about it.

Here is what Clark Howard has to say about them:
http://www.clarkhoward.com/news/cla...g-auto-repair-service-plans-older-vehi/nCKZt/

 

I've heard too many horror stories about people getting denied claims on extended warranty repairs to ever buy one. I agreed to one when I purchased my truck but they gave me 2 weeks to cancel, which I did after doing some research. It is subjective though.

 

My warranty to extend 7 years was $900... Lets just say something goes out at 4 years... and that part alone cost 500-600... sounds like a decent calculated risk to me.. peace of mind. I may not have gotten the best deal but I still feel good about it.

 

I never used to buy them as several have commented here. Last two vehicles I have bought them. I *think* I can turn a decent wrench, but with all the computer and navigation stuff on these new vehicles, it is just over my head! Wife has a new higher end Lexus. I think I would be afraid to do much to it other than changing the windshield wipers, LOL.

 

I hear ya. I can't stand that kind of pressure either and I never bought an extended warranty on anything.

One thing is certain though, the salesperson was doing their job.

As the saying goes, "Salesmanship starts as soon as the customer says NO."

 

The dealership I bought mine from offers lifetime oil changes on any certified Toyota. So free oil changes for life and my extended warranty was $700ish for a additional 100,000mi and 7yrs added to the 12k on the odometer.

112,000mi bumper to bumper/ or the yr 2020
Roadside assistance.
Towing service
Rental car and lodging option
No brainer! Nice insurance policy from Toyota financial.

 

i recently purchased a 2012 certified tacoma and they were pushing me hard to get one. I flat out told the salesperson dont even waste your breath i dont want it. The one they were pushing was like $1800 and it only went to 100k. Im sorry but thats alot of repairs to equate to that and these trucks are made well and chances are things are going to go wrong after that warranty is expired anyways. Luckily the certified warranty has a 7 year 100k powertrain warranty anyways.

 

I bought a 2014 4runner LE in January, it extended the maintenance to 5 years also. It covers lost key fobs too, they dropped the cost of the warranty to $1.6k.
So for lost key fobs and synthetic oil changes was worth it for me and thats not including anything else i might need

 

If you are financing the truck, DO NOT finance the warranty at the dealer on the day of sale. They approach the table assuming you will buy it for the first number you hear. Then they bundle it with the truck, the 3m high-def windshield coating, nitrogen in your tires, and night vision. You then pay interest on all of it.

Their job is to first raise your principal to it's max. Then they ask what you can afford monthly, instead of telling you the lowest rate you qualify for. Then they float well above their bottom line, while making it seem like they are cutting you a deal (seeing how finely they can balance you buying/them profiting even more). Lastly, getting your signature on their paper.

Time is money. Do your research. Be patient. You can save thousands! Buy the truck at the best price you can. Then enjoy it for a while while you do your research to get the best deal on the warranty (You have 3yr/36k). Your selling dealer will likely first ask $2,400, I have seen the same coverage go for $975 somewhere on here...

 

not really. It is purely financial. I have enough money to cover any possible repair and I maintain my vehicles. For someone that does not have the money to cover possible repairs then maybe they should buy but maybe they should not even buy the vehicle.

 

I never bought those. I bought 2 new cars in 2014 and didn't want to spent 2500 each for both in extended warranties, some serious stuff has to go wrong until that pays off and especially when you mod you truck they will always try to find a loop hole to get out anyway, and who knows what happens I might end up selling before they hit 60k and the drivetrain warranty runs out...if you calculate the probability that it will pay off for my case with 2 new cars it turns out to be 0.25% that's 1 out of 400...slim. Those 5k turn into 6.3k in 5 years @ 5% if invested...

The discussion at the dealer took 30 sec, told him I don't buy it because that would mean I expect something to break and I did my research and those trucks are reliable and reminded him that's what he told me 5 minutes after I entered the dealership, I maintain all my vehicles well and don't abuse them and since I paid cash I would be able to afford a costly repair as well...no more questioned asked.

 

They pushed big time for me to get an extended warranty. I told him I bought a Toyota so I don't need a warranty. If I added a supercharger I would likely do it.

 

Same here...

I finally asked "is Toyota quality a myth?"

Finance guy looked at me with his head cocked and said, "I'm sorry, I don't understand."

"Well if Toyota quality is a myth, then I'll go down the street and get a Frontier for about 5k less and buy their extended warranty. If Toyota quality isn't a myth, I figure this is a fair price for piece of mind especially when you consider this powertrain is now a decade old and I'm sure most grease monkeys have worked on them."

He then laughed and said, "when you put it that way, I look like a giant asshole."

I'd also say a lot of car Q&A sites with automotive journalist tell potential Toyota AND Lexus buyers to pass. If you're decent with a wrench, you can find most parts at a scrapyard, and when you can't any mechanic who works on Toyotas can fix your Lexus for half the price of the dealership.

My piece of advice is...

If you have a mechanic who you know is good and isn't out to punish you without lube, then it's really a waste. If you've never spoke to a mechanic, the warranty pays for itself in the anxiety saved from dealing with one (or two or three) you don't trust.

 

I would not buy an extended warranty.
The dealer I bought from did offer a free lifetime powertrain warranty.