THoughts on extended warranty

On line still available:
This - http://www.tacomaworld.com/forum/2n...genuine-warranty-internet.html?highlight=toby

 

I bought a 2010 certified Tacoma with 4500 miles. At mile 72k, my 6spd transmission went out and I needed a new draft shaft. Over $4k in parts and labor. Brand new transmission and draft shaft covered under warrenty.

Keep in mind that extended warranties are negotiable. I don't believe in extended warranties, but I'm glad I purchased my certified truck.

 

You do realize that a certified vehicle is one that has a built-in extended warranty as part of the package? So technically you DID buy an extended warranty, by getting a certified Toyota versus just a used Tacoma off the lot.

 

Well technically they are making $1600 if I don't have any trouble. But I still feel better knowing I have a bit on insurance for the next 8 years. If I was one who traded every 5 years I wouldn't have bought it. But I had my last Tacoma almost 9 years and there is a bunch more electrical crap on this one, that could go south at any time. I wish I could buy car insurance for that price!

 

There is no technically; I know that I bought my truck with an extended warranty. I know what certified means. I don't think I would've purchased an extended warranty, if I had bought it new. However, when I purchased my truck I sought out those trucks that were certified.

 

I'm in the market for a new Tacoma. I have been trying to educate myself on the extended warranty subject before sitting down with the dealer. Last year my wife and I bought our first new car, a 2014 Corolla S. At the time I was not convinced on extended warranties, but after the dealer gave horror stories of expensive electrical issues, I was persuaded. I opted for a 7yr 100,000 mile that was initially quoted at over $2,000. I said "NO WAY." He makes a phone call and says "I'll help you out, how about $1500?" I thought wow, what a deal, and I signed on the line. Now 10 months later we have 21,000 miles on the car and know there is no way that warranty is going to last even 5 years. Thinking this time around I will just say no to the extras at first. I'll look out for issues in the first 36,000, then decide to go back in and purchase when that time gets closer.

Also a good read here by consumer reports
http://www.consumerreports.org/cro/...ties-for-cars-are-an-expensive-game/index.htm
Are extended car warranties worth it? | Consumer Reports Video
https://www.youtube.com/watch?v=qOnT5-ZLFf4

 

My only experience with an extended warranty sucks. I'll try to make this as short as possible.

Several years ago (14 to be exact) I bought a new GMC Sierra while I was on hiatus between working overseas, taking an extended vacation and then finding a new job back in the states. I didn't buy the extended warranty when I bought the truck but wanted to wait and buy it from a dealer near where I would living (once I found a new job). I figured if I needed warranty work done, the "new" dealer would have some skin in the game and treat me a little better over someone that just wanted some "free" work done. I found a job in Orlando and bought the extended warranty thru a dealer where I worked and the extended warranty was thru AcuraCare.

Fast forward a year or so and I hear a noise coming from the tranny "area". I take it in and they discover that the transfer case was "coming apart" on the inside. The transfer case is a sealed unit and there is NO maintenance to it and even the mechanics at the dealer had never experienced this before; just one of those things. No worries I HAVE AN EXTENDED WARRANTY!!!!!! AcuraCare refused to cover it due to "lack of maintenance" even though there's no scheduled maintenance for it & it's a sealed unit. The Svc. Manager (a really nice guy) "negotiated" that AcuraCare, the dealer and I would split the cost 3 ways; about $1,000 each. I'm PISSED but decided that $1,000 is better than $3,000. I even thought about a law suit or small claims court but cut my losses.

To this day, I won't even let an Acura park in my driveway and if I ever buy another full size truck (and it will only be a Sierra), I'm getting my $3K back (my part of the repairs PLUS the cost of the extended warranty).

Long story short (OK it wasn't) I would try to contact anyone that has an extended warranty thru that dealership and see what they think.

 

Pretty certain the certified vehicle warranty is a drive train only warranty; which is a good warranty but not covering nearly as much as a platinum.

Kev O:
Per your post "I'm in the market for a new Tacoma. I have been trying to educate myself on the extended warranty subject before sitting down with the dealer. Last year my wife and I bought our first new car, a 2014 Corolla S. At the time I was not convinced on extended warranties, but after the dealer gave horror stories of expensive electrical issues, I was persuaded. I opted for a 7yr 100,000 mile that was initially quoted at over $2,000. I said "NO WAY." He makes a phone call and says "I'll help you out, how about $1500?" I thought wow, what a deal, and I signed on the line. Now 10 months later we have 21,000 miles on the car and know there is no way that warranty is going to last even 5 years...

You may try to get the pro-rata of the warranty refunded; possible to talk to toyota financial and determine what they say. Hard to tell how many miles you'll put on the vehicle....sounds like even 6/125mile warranty would be as close as you could get...
If you get a Tacoma; recommend driving for a couple years then negotiate the warranty prior to the 3/36.

 

I will give a little more details on our last "extended" warranty experience. It was dealer sold, and dealer serviced, but via a third party we were later told. One day, a 4 year old land cruise, with the old straight six motor, failed a radiator cooling fan, at 32k miles, the plastic type with the clutch. It got towed in to the dealer and they let it sit for six weeks while waiting for the "warranty company" to evaluate...but the warranty company was actually the dealer who sold the vehicle and was now repairing it. Or in this case, hunting for used parts for the repair.

After six weeks the vehicle was returned to service with a different fan and radiator, not new, but same water pump and incorrect fan belt. The water pump failed a few weeks later, directly due to the failed fan (service manual requires water pump replacement at the time of fan replacement). This time the vehicle lost ALL coolant on the left lane of a multilane highway in heavy traffic and by the time a safe place could be found to pull over, the motor was so hot, it stuck.

The same dealer now refused the second repair claiming "it was poorly maintained and run out of coolant" despite six weeks of dealer work, 500 miles previous. They also wanted $300 for evaluation and stole the failed water pump. When we tried to remove the vehicle from the dealer lot for a second opinion, the vehicle was reported stolen. I put a used motor in and sued the dealer, and finally recovered about 5k, or just about the cost of parts and my labor. However, we were not able to pass emissions since the settlement did not include the failed emission controls.

So, my attitude on service contacts is a quote from BT Barnum: There is a sucker born every minute.