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Who didn't get an extended warranty and wished they had?

Discussion in '3rd Gen. Tacomas (2016-2023)' started by afret, Oct 2, 2021.

  1. Oct 2, 2021 at 8:57 AM
    #1
    afret

    afret [OP] Well-Known Member

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    I don't think I'll get one for the Tacoma when it comes in one of these days. They charge too much for it. The powertrain warranty is reasonably long but the one covering electronics isn't. I figure if an electrical problem is going to occur it should happen before the 3 years is up. And the odds are I'll trade it in before 3 years especially if the gen 4 comes out. :)
     
    davidstacoma likes this.
  2. Oct 2, 2021 at 9:18 AM
    #2
    AZmohawk

    AZmohawk Well-Known Member

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    Lots of folks are against them and I was too until my last 3 vehicles. With all the tech and stuff on these new vehicles I think they are worth it if you get the right deal on the warranty. I bought one for my wifes 2014 Highlander that we used to own and it paid for itself. If you plan to keep your vehicle for a long time then I think they are a good idea.

    I bought one for my Tacoma from the Jennifer lady at Wolverine Toyota that most folks recommend on here. 10 years 125,000 Platinum Warranty. About 1/2 the cost that local dealers would charge. I plan to keep the truck for a long time.
     
    shakerhood likes this.
  3. Oct 2, 2021 at 9:25 AM
    #3
    afret

    afret [OP] Well-Known Member

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    Boy, that sounds like a reasonable deal. You can buy the warranty from any dealer?
     
  4. Oct 2, 2021 at 9:30 AM
    #4
    86 SR5

    86 SR5 Member

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    If it was a good deal for you they wouldn't sell them.
     
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  5. Oct 2, 2021 at 9:33 AM
    #5
    GOTSAND?18

    GOTSAND?18 Well-Known Member

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    If you can get one at a good price sure why not . I went with geico it has a 250 deductible and it’s dirt cheap .
     
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  6. Oct 2, 2021 at 9:34 AM
    #6
    itzyoboipaul

    itzyoboipaul Well-Known Member

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    I got mine from Jennifer also at Wolverine Toyota. Much better pricing that my local Toyota. That made it a no brained
     
  7. Oct 2, 2021 at 9:38 AM
    #7
    BuzzardsGottaEat

    BuzzardsGottaEat Well-Known Member

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    Imagine all of the payments for all of the extra warranties and protection plans and gap insurance and maintenance plans and protections plans over all of your vehicles over all of your life.

    Now imagine you just put that money in your emergency fund haha.

    Insure yourself, my man. Don't trust a scam artist to have your back when something breaks. Just have some money to fix it.

    Guarantee the hundreds a month over an entire lifetime costs more than even if your engine and tranny blew up and you needed to replace them out of pocket in the long run. Numbers are much better decision-making tools than feelings. And the numbers don't add up for all of those money-making scams haha.

    Just be semi financially responsible and you'll be fine.
     
  8. Oct 2, 2021 at 9:44 AM
    #8
    afret

    afret [OP] Well-Known Member

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    Ok so if you buy the coverage from Wolverine, does the info get put into the Toyota computer system so the info is there for your local dealer to access your coverage?
     
    AZmohawk likes this.
  9. Oct 2, 2021 at 9:51 AM
    #9
    joeyv141

    joeyv141 Well-Known Member

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    Yes its a Toyota warranty plan not a specific dealer warranty, random numbers I choose but let's say Toyota Corp charges $1000 per plan, one dealer may decide they want to profit $800 so they charge $1800, another dealer decides they only want $400 profit thus they charge $1400. Toyota Corp doesn't care if you pay $5000 for the same plan as long as they get their $1000. Hence why the price various so much.
     
    CrufflerJJ likes this.
  10. Oct 2, 2021 at 9:52 AM
    #10
    AZmohawk

    AZmohawk Well-Known Member

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    Yes. She will send you all the paperwork and you will receive your cards and contract from Toyota corporate after it’s processed. It’s a Toyota warranty and good at any Toyota dealer around the country
     
    itzyoboipaul likes this.
  11. Oct 2, 2021 at 9:57 AM
    #11
    FL_TRD Sport

    FL_TRD Sport Suffering from Severe Wallet Drain

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    Extended warranty threads are like oil change threads :facepalm:
     
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  12. Oct 2, 2021 at 10:02 AM
    #12
    RedWings44

    RedWings44 Well-Known Member

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    I am normally against them but I had to weigh it:

    They were selling it to me "at a loss" (whatever the hell that means) and I was likely going to be paying on it 2 years after I've already reached the mileage limit.

    However, with this being the newest vehicle I've ever purchased I wanted to make sure the truck was taken care of (particularly the electrical components I can't work on).

    However, for what it is worth, everything I've had go wrong was either not covered by the warranty or covered by recall. So, so far it has only been peace of mind that hasn't really done anything for me. They'll still find any reason to not have it covered by the warranty.
     
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  13. Oct 2, 2021 at 10:08 AM
    #13
    Hooligans

    Hooligans Well-Known Member

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    Still thinking about it.
    I think it depends on the vehicle in question. On a new Tacoma it’s just a silly up-sell, waste of money in my opinion. However, I’m sure glad we put aftermarket coverage on my wife’s used Mini!
     
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  14. Oct 2, 2021 at 10:11 AM
    #14
    oconnor

    oconnor Where am I?

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    I wouldn't have chosen a Tacoma if I planned to buy an extended warranty out to 10 years. I would have picked something with more gee-wiz gizmos, more power and likely cheaper.
     
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  15. Oct 2, 2021 at 10:20 AM
    #15
    afret

    afret [OP] Well-Known Member

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    Another thing is if you can buy the warranty anytime before the expiration of the factory warranty it seems like it would make more sense to wait until the factory warranty is almost up. That way if you happen to get rid of the vehicle early, you won't lose out on the prorated refund since I think they start the clock whey you buy the extended warranty not when it actually kicks in which sucks.
     
    Liv4Spd likes this.
  16. Oct 2, 2021 at 10:21 AM
    #16
    RLMoody

    RLMoody Well-Known Member

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    Extended warranties are for cars that are problematic. If you know you are buying a new car that is a piece of junk and you intend to keep it anyway then the extended warranty may not be a bad idea. I have been buying new cars since 1987 and never purchased an extended warranty. Almost with out exception after owning a car while under manufacturers warranty I was able to decide if the car was junk or not. I don't regret not buying the extended warranty's. I also research the vehicles I look at and look at their past history not present. For me with American cars when the manufactures warranty was up the car was traded in. American cars are crap and I no longer buy them. Japanese cars have been so much better for reliability. I've had very few issues over the years because I take care of my cars. For me extended warranty's are a waste of money. They are also another gimmick for salesmen to bleed more money out of you. They make commissions of of them and anything else they can pull over on you. I know because I worked in stealerships for several years.
     
    Junkhead, Jemm63, FLJB and 1 other person like this.
  17. Oct 2, 2021 at 10:23 AM
    #17
    Marshall R

    Marshall R Well-Known Member

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    Define a long time?

    Even most extended warranties expire after 200,000 miles. In my experience if something is going to break it does so pretty soon. Well within the standard factory warranty period. If it makes it that far chances are good it will last 200,000 miles and if it breaks it will be after the extended warranty has expired.

    Other things to consider. Dealers push extended warranties by over stating how much it will cost you to repair the vehicle if something breaks. A major repair they claim will cost you $5000 can usually be done by an independent shop for $2000. There is also a $100-$500 deductible you're responsible for even with an extended warranty. Quite often items that do break can be repaired by an independent shop with you paying 100% out of pocket for less than the deductible at the dealer.

    Once in a blue moon someone comes out ahead with an extended warranty. But long term you lose. If the engine and transmission fall out of my truck later today and I have to pay out of pocket I'm still way ahead by not buying warranties. Had a guy locally that made the papers after winning $65,000 in the lottery. Which sounded good until his ex wife pointed out he had pissed away over $100,000 in lottery tickets in the last 10 years. But he WON the lottery.
     
  18. Oct 2, 2021 at 10:29 AM
    #18
    brian2sun

    brian2sun Well-Known Member

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    Perhaps the better question is... Who bought an extended warranty and wished they hadn’t? They work out in Toyota’s favor far more than they work out in the customer’s favor. Personally, I have more piece of mind with an extra $2k in my bank account than pre-paying Toyota to fix things that haven’t broken. Extended warranties are like betting against your truck... maybe that’s a good bet for a Ford/Chevy/Dodge, but not a Toyota IMO.
     
  19. Oct 2, 2021 at 10:43 AM
    #19
    kahanabob

    kahanabob Well-Known Member

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    years ago you could do it over the internet but toyota shut that down, you can get deals but you have to get it at the dealership in person.
    unless that has changed recently.
    i am on maui and got mine for my 16 from some dealer in middle america found from a post here way back when.
    to answer have not needed it yet is good for 8 years and am glad i bought it.
     
    davidstacoma likes this.
  20. Oct 2, 2021 at 11:21 AM
    #20
    xndak

    xndak Well-Known Member

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    Have you seen what they did to the Tundra:eek:
     
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