Should I cancel my 7yr/100k warranty and get some refunded?

Curious people's experience with warranty work and mods. I am lifted 2" and have 33s, plus some light bars wired up (no splicing into any factory harnesses).

When I got my 2021 Taco I bought the 7yr/100k warranty with plans NOT to mod it. Well...I could not resist and here I am.

I have heard you can cancel and get a prorated amount back. Anyone have experience doing this? I heard it was a pain.

My concern is since I have "modified" the drivetrain with the lift and oversized tires they have lots of ammo to deny a warranty claim for that. Also, since I have the lightbars they could try to deny any electrical issue claim, even though I did not touch factory wiring.

I am currently 4yrs into the 7yr warranty. Nowhere near the miles, only got 22k on it.

Thoughts?

 

Technically you're just one year into a 4 year warranty because you had a 3 year warranty to begin with (so you basically bought 4 extra years). If it were me and I was averaging 5k miles/year I would 100% cancel the extended. But thats me.

 

Literally nothing goes wrong with these trucks in the first 100k.

 

Ahhhhh....I should look back at my paperwork. I did not realize that is how it worked. In this case I would get most of my money back.....to spend on further mods.

 

Some on TW put their truck back to stock before taking it in for warranty work if that is an option for you.

 

Unfortunately that is not really an option. I could keep my old stock tires and wheels though and slap those on in case of a powertrain type warranty claim and then just hope they don't scrutinize the lift.

 

You need to read the fine print on cancellations and how they calculate the monies to be refunded.
It's not always as straightforward as you might expect.

 

A big part of the equation for me, would be:
how much are you going to get back?
what are you going to have to go through to get it?

I don't know the answers,, just where I would start.

 

Exactly. Was hoping to find someone who had done it to see their experience. I have heard it's difficult and they give you the run around.

 

For example, my wife had an EV (not Toyota) which was totalled after 17 months from new. I had put an 8 year extended warranty on it. It came with a 4 year bumper to bumper.
I was refunded 6/8ths of the cost. According to the language of the contract, I had used two years of the extended warranty.

You gotta read the paperwork.

 

The day after you cancel it, something will break... Guarens.

 

I would get as much refunded as possible.
I've been suckered into some insurance policies I ended up regretting like whole life.
I hate insurance companies (banks too) !
The few times I've tried to make claims, all totally legit, I ended up getting wholly or partially screwed.

 

Some of the more common issues...

coolant crossover pipe leak
power steering rack leak
timing cover leak
the occasional random engine failure

 

I never bought the extended warranty. How much of a refund can you get back by canceling? Is that amount worth it to you?

 

Toyota's extended warranty that I have is non-refundable.

 

Had extended warranty on my BMW. Sold it and got some warranty money back. Had extended warranty on my GMC. Sold it and got some warranty money back. So, it's possible to get some money back on those unused period extended warranty. It's pro-rated.

 

Nothing goes wrong with these trucks, until you cancel the Warranty...

 

^ this. Ask the dealer for a quote on either of those repairs. Independent of each other, not at the same time.

 

You do realize that as soon as you cancel the warranty something really expensive will break that would have been covered by the warranty, right?