Extended Warranty

x2

 

I alway have bought the ext. warr.
And have used it on every vehicle I have had.
All it takes is one incident and it's well worth it.
Toyota quality is great.
HOWEVER:
All it takes is you being one of the very few to have an issue.
Yes it is a hunk of change. But with all the electronics and mechanical
Gimo's these things have now, well worth it.
My van lost the front clutch seal in the trans.
Cost me like 100 bucks with my ext. warr.
I got paid to work on my own vehicle.
My gmc lost the rear end.
Paid
And in every single incident, it was during a hard financial time.
I was so glad I had it.
Always will.

 

Extended warranty? Hell no

Extended maintenance plan? Maybe. Depends on what they quote you and remember they are always flexible with price. I've seen them go anywhere between $399-750.

 

I thought we were talking Tacoma's here not GMs and vans? My position is to never buy it and you will be way ahead. Out of all the vehicles I owned I have only had one that anything that would have been covered. I might note that I have only owned 1 GM.

 

Excuse me?
My point being ANY vehicle can have an issue in general and I have a extra warr. On my 2011 TOYOTA DC. We do a lot of repairs under ext warr. Some pay off their plan in one visit.
Your position is to never buy one. Fine.
My position is to get it. In my many many years of owning vehicles, I am WAY AHEAD in SAVING money.
To each their own.

 

In the big picture, the insurance company that issues the insurance, will profit from it otherwise they won't offer it. Some get lucky and get there money back, but you have to be careful here too since deductible have to be added and you can always do it cheaper on your own.

Quick example: water pump went out on a jeep, warranty insurance was 1800 deductible was 200 so $2000 for a water pump...half a year later it was leaking again so a water pump was bough from autozone some gasket sealer and coolant for $80, 1h later it was fixed and never leaked again.

 

There's a running joke over at Jalopnik.com that the companies like Carmax have to sell 10 policies for Hondas and Toyotas to cover the loss on a used land Rover.

 

I believe in extended warranties. While toyota is quality you just never know. I bought a 7 year 125k toyota warr. ( I put less than 15K a year on the truck and did a 72 month loan).

I googled toyota extended warr. You can buy them from any dealer. you dont have to buy it from the dealer that you get your truck from.

I got a quote for their (toyota premium warr, forget what the name of the top one is but thats the one I got). The quote I got was $1250.00. When i bought my truck and was with the finance guy he quoted me $2500.00 I showed him the quote from the other dealers. He started to give me a song and dance about these dealers. I said they are toyota dealers are you going to match it or not. If not you wont get any monies from it. He said he would go $1300.00, I said fair enough and did it.

I learned how much of a mark up there is. After the deal he told me that he will make $150 from me financing with toyota (couldnt beat their finance charge) and he will make $150 from the warranty.

Again I would never buy a after market or from a third party company. You buy a toyota get a toyota warr. You buy a ford you get a Ford Warr, etc etc.

Good luck

 

The finance guy...who did nothing to sell the car but fill out your paperwork. He made $300 and probably sees a half dozen or more on an average Saturday? Seems like a great gig to me.

I love how these dealers keep claiming poverty with customers and then build dealerships that could rival the Taj Mahal in some of the most premium real estate in their areas.

 

X3

 

I just got one on a 12 for $1200. It bumper to bumper and includes oil changes/rotates. They did the hard sell on me for hours. And I was trading in a 13 Rubicon. It was a haggle fest and I was gonna walk. But then they bought my Rubicon outright. With $0 rolled into the new truck. But I had to buy the extended warranty at the lower price. It started at $2500. So I figured with the oil changes. One repair issue of $700 or in the next seven years. I should be good. Low and behold my dang radio face was going blank. Took it in and a new one is on the way. That POS is $600. So I am almost there already. Ironically in the sales pitch. The guy was saying how expensive it is to replace just the radio. But this the first extended warranty I have bought in 22 years.

 

so you were out of the standard factory warranty? No deductible? If my radio goes I will be going aftermarket. For $600 I will most likely get a better one.

 

I don't put much stock in extended warranties unless there is a well-documented track record of an expensive piece of equipment going out within the warranty range, or the vehicle has excessive electronic do-dads or is a luxury brand such as Audi/BMW.

Otherwise I'll keep the money and spend it on mods. The sales pitch is a classic example of taking things (electronics) people have heard other having bad experiences with and are unfamiliar and do not know how to troubleshoot or fix and then using fear tactics in a way to get more money out of you.

The way electronics work these days for solid-state devices is they either break in the first 6 months or they work for years unless excessive heat or physical trauma occurs. The taco 4.0 engine runs cool and the engine bay is sparse compared to most vehicles allowing good airflow and isolation of the ECU from the engine heat thus not really causing a factor in the life of the ECU and other electronics located in the engine bay.

 

Are we allowed to MOD our trucks with these extended warranties?

Anyone have any experience taking a modded truck to do warranty work it?

 

Theoretically as long as the mods didn't cause or help cause the failure of the warranty claim part but I know a lot of people who get a lot of grief about stuff like that.

 

First off you have no idea what OP will be using the truck for and that's #1.

I would love to see the maintenance records from your 05. The warranty was going for $800 at some point which is nothing compared to the service rate at the dealers.

My rear main seal is leaking and costs at Toyota $800-$1,000 to fix. Warranty paid for itself right there and I have a list of shit wrong that is pages long.

If it's a purely financial decision why do you boast about having money? Seems like a useless comment to me and has nothing to do with the an extended warranty or benefits of having one. People with money usually are good at holding onto it not giving it away. Might as well say "I'm rich bitch so who cares if I throw money away".

Maintaining a vehicle doesn't stop defects.

If you base your decision "purely financially" you could easily add the list of TSB out of pocket costs at dealer rate vs warranty costs and come up with a real world guesstimate.

another off topic "boast" that has nothing to do with this.

So you wouldn't pay $800 for another 7 years and 64k in additional warranty but would pay a similar amount for oil changes/etc.?

Seems backwards to me

I know for a fact my truck is not the only one in my region to require expensive repairs that would of been covered by a extended warranty where the cost out of pocket was greater than the warranty cost.

Not sure if you guys are still in the "Toyota fan boy phase" where nothing has gone wrong but in my experience Toyota is far from infallible.


Items I could of had covered by an extended warranty:

Tie rods
Wheel bearings (covers the cost of warranty by itself)
LCA bushings (covers the cost of warranty by itself)
LCA ball joints
Blower motor
Leaf springs
Rear main seal leak (covers the cost of warranty by itself)
transfer case leak (covers the cost of warranty by itself)
transmission leak (covers the cost of warranty by itself)
Rear wheel cylinder
Fog light wire short
Soon to be rusty frame (covers the cost of warranty by itself)
and the list goes on and on.........

 

exactly how I feel. Finance guy where I bought said the service bays would be empty if vehicles did not need service. I said what a bunch of BS to try to get me to buy an over priced extended warranty. Then he tried some other tactic like lowered loan rate. I said that is it I am going to tell the sales director no deal unless I get lower rate and no warranty.

 

Here are the 2014 JD rankings and the have the problems per 100 cars that are 3 years old. Even with impeccable Toyota quality, 114 reported problems per 100 cars that are 3 years old.

Remember, this number only goes up after that period as maintenance takes on a much more important role as cars age.

I still think the decision comes down not to money, but whether you can address the problem yourself and whether you have a mechanic you can trust when you can't fix it.

These intangibles makes assessing the value of the warranty different to everyone. The topic shouldn't necessarily be should I or shouldn't I, but what factors are important in making the decision to purchase a warranty or not.

 

I love working on my truck, but quite honestly, the warranty I paid $850 for has already paid for itself on my truck. Nothing major has happened, but just a few little things.
Squeaky blower motor, trailer harness, and the overhead temp gauge are just a few of the things that have gone out on this truck. You will have problems with a truck that is over 5-6 years old. Be ready for it.

 

So why did you buy it and why didn't you get the warranty?

You fan boys with your 2013's crack me up. I can't wait until 2016 when you're in the forum crying about how your truck is nickle and dimeing you to death and you should of bought the extended warranty.

Have fun paying out of pocket for your LCA bushings/cams, wheel bearings, and any other TSB's that will pop up