Total Care Auto...worth it?

This was for Extra Care Platinum. Basically bumper to bumper.
https://www.sc.toyotafinancial.com/web/tfs/pub/contents/vsa/TFS_VSA_Platinum_VSA_eBrochure.pdf

 

Also make sure it is a Toyota Extended Warranty and not some weird 3rd party warranty.

 

So I got the bumper to bumper 10 year/100k miles and I am pretty sure I paid just over 2k for it

 

TOYOTA extended warranty is good if you ever need it for something major. Personally, I never get any type extended warranties on anything. If it breaks me...My tough luck and I never buy that companies product again

I'm against it, but not because I think Tacoma’s are “bulletproof”. It's just that I feel lucky!

And I'm betting on manufacturer's product defect ratio and my skills to help me get by with a "fix"

So you have to ask yourself the question....

 

I paid $2441 for the 5 yr/150k bumper to bumper, as the man said. Didn't take a horrible bit of convincing since I drive a ton of miles and it doesn't take much, especially in electronics, to make it pay for itself.

 

Also don’t forget that you automatically get a 3 year 36000 platinum for free. So a 5 yr / 100K -$765.00 is really just an additional 2 yr 64000 that you are getting. Currently for my 2020, I am waiting until I get close to the end of the 3/36k period to decide. I will probably get one before that is up. Depends on mileage at the 2.7 yr mark.
More info here:
https://www.toyotafinancial.com/us/en/vehicle_protection_plan/vehicle_service_agreements.html

 

I did it for all of the electronics. Just price a new head unit and that should be enough to convince you. These third gens are still relatively new and no one is really sure about their reliability. We probably won’t know for another 5 or 10 years when people start putting hundreds of thousands of miles.

 

Sub'd
Great topic.

 

Bingo. And I’m hard on stuff to start with. Though years 5-8 are where I’d be most apt to have concern because it’ll have upward of 300k by then.

 

I'm against all extended warranties. It has nothing to do with my belief of the longevity of my truck, or my tv, or my toaster, or whatever else. But keep in mind that the price of that warranty is the result of a statistical analysis done by the company selling - take the average amount of claims on this product and add x% profit margin on top of it. On average, you lose money in exchange for peace of mind on this transaction.


Take the 27 per month that you were considering and increase your contribution into your savings account by 27 dollars instead. If you consistently decline warranties and consistently squirrel away your spare change into savings, you will come out way further ahead.