Is Toyota Extra Care Platinum Worth it?

So I take it you don't have health insurance right?? The same logic applies....

I'm 33 and and super healthy, insurance companies make a killing off of me I haven't actually used my insurance in 10 years, yet I pay every single month. And guess what, I still happily have insurance

Not as big of a make it or break it with car warranties as your life isn't literally on the line, but the same logic applies to both and its silly to not buy something just because someone else makes money when you do.

 

An extended warranty is nothing more than an insurance policy an insurance companies never lose its a good bet for them. The chances your vehicle will need a covered repair that exceeds the cost of the policy during the covered period is very slim but if it buys peace of mind by all means get one but it’s usually a bad bet for the consumer in the end especially when you try to collect on a high dollar repair.

 

Fair point but it's worth noting the inequality of the comparison. Medical bills have no ceiling effectively. Car repair costs have a very definite and minuscule ceiling in comparison.

In my opinion the ideal purpose of insurance (warranties) is to prevent financial ruin. I personally draw the line there. If worst case will effectively wipe me financially then yeah, insurance is necessary. If not, then I always bet with the odds, which means foregoing it. In the case of a Tacoma, it's no question. The odds are significantly in your favor to forego any and all additional warranties. I'd go so far as to sell the original factory warranty back to Toyota on day one if they would have let me.

 

I think I over paid for my 7 year warranty. does any know if you can renegotiate after the deal is done? I suppose maybe I could, I believe I read I have 30 days to cancel it.. Tell'em lower the cost/extent the terms or I cancel?
Or is that just going to piss them off? lol. I have no experience with this so I honestly don't know.

 

You do have 30 days to cancel for a full refund, it pays to shop around for the best price.

 

I bought the extended warranty and ended up canceling recently. Was over a year after I purchased it. I was having some serious head unit issues and was getting jacked around getting it fixed. Told the dealership I'd like to cancel my warranty and they were able to do it right there. Was a prorated refund adjusted for the mileage I put on. The refund amount was taken off the principle of my loan balance.

 

NO

 

It's not a 1979 HiLux anymore, if the timing chain covers start leaking it's thousands. If the ABS pumps fails bend over. I don't even want to know what a trans in this truck costs

 

I bought my Taco new in 2016. My rational to purchase extended warranty was the Taco was in its first year of a complete remodel. For me, it was peace of mind.

 

Nothing that relies on Toyota's service centers is worth it. My twice scratched and dinged Taco is proof.