Ridiculous warranty quote

I picked up my new Taco last night and got quite a shock in the process. Every car I've ever bought, including my wife's 2016 Highlander, we've opted to get an extended warranty. Normally they quote anywhere from $1,200 - $1,500 for a 7 years/100K platinum level warranty and after asking if it's negotiable they'll come down to around $700 - $800. Last night the quote for a basic level 7 year/100k warranty on the Taco was $4,300. I laughed out loud and didn't even bother to negotiate. Did anyone else experience this?

Is there somewhere else that I can buy a factory warranty for a reasonable price?

Pic of the new truck:

 

thats insane money. most people dont realize the markup on finance items, as a previous business manager(not with toyota) most those warranties cost 400-800. easy sell at 1200-1500. 4300 for an extended warranty at time of purchase is a very greedy business manager. call around dealers, get them competing for your business just like you would purchasing a car

 

Just to clarify, I can buy a warranty from a different dealer after the sale? Do you know if there is a time or mileage limit to when this can be done?

 

never sold toyota warranties, but have other new car warranties and it doesnt make a big difference. if you were around 50-60k it would, but the difference is really minor while still under original warranty

 

You can buy a warranty from any dealer anytime before the original manufacturers warranty expires.

 

Mine cost somewhere around $1200 for both my FJ and Taco.

Yes, they started at over 2K but you CAN negotiate with them. Your problem is that you already have the vehicle so they don't care, the time to negotiate is during the sale when you can walk away from the table.

 

Extended warranties cost $0, at least initially.

To the OP, have you ever figured how much you've paid for all those extended warranties you bought vs. the costs of the actual repairs that were eventually covered? Just curious, as everyone knows these things are generally a big profit margin for the seller, and you'd be much better off keeping your money and just paying for whatever repairs you may need.

 

Thanks guys, that's what I needed to know. I'll probably start calling around today and see if I can get something reasonable. If not, I'll take my chances.

Normally I do negotiate, but the opening offer is usually $3,000 less as well. I didn't anticipate getting him down to something I find reasonable (sub $800) from his outrageous opening offer.

 

I'm with you. I know they don't sell these to lose money. However, if $750 helps me sleep easy for 7 years then it's worth it to me.

 

Congrats on the nice new truck, though! Silver DC SB is a great model.

 

It is no different than Medical, Life, Auto insurance. You have it and hope you do not need to use it.

 

You can check with Toby at Lexus of Shreveport and see if he can still sell out of state or if TFS has shut him down like the others.https://www.tacomaworld.com/threads/looking-for-toyota-genuine-warranty-internet.333513/

 

Oh boy, here we go again. The warranty people will never convince the non warranty people and vice versa. I got my platinum warranty for $1,113, after he started way higher. You will not get a true Toyota platinum non third party warranty under $1,000. I know someone who works at dealer and he showed me what they pay, more than $400 for dang sure. They made $200 on my warranty. I was going to do the increased years and mileage but I only drive about 10-11k year, not worth it. My years will be up before mileage.

Also, for those who bring up power train, good luck with that. The platinum covers tons of items not covered by power train. So, I'm paying $159 year for peace. Like I said before, you go save $13 per month and first time something happens and it will with new power train the bill will quickly exceed what I paid and you'll be digging in your $13 per month savings.

I do agree with others here saying don't pay near that much. I just wanted to give you my numbers so you can have something when you call. I also got mine last day of the month at 11 pm at night.

 

I appreciate the info. I wasn't even trying to get a platinum warranty, the $4,300 quote was just for the basic warranty without all the extra dent repair, tire repair, etc...