To Keep or Not to Keep WARRANTY

So here is the deal. I have read through all the forums on here and I know I am posting a new thread on a similar topic, but I also know everyone's situation is different so I would like to get opinions on the Toyota "Warranty" that I purchased for a certified used Tacoma. so here goes...

I just bought a used 2011 tacoma 6 speed 4x4 d-cab off road. it has 18k miles. I have always been told that when buying, never agree to any extras, like extended "warranties". The reason I decided to purchase the TSA is for the many computers and electronic gizmos (bluetooth, JBL, Backup cam, ect) in the truck. If a computer goes out, I cant fix it. But if something else goes out I will most likely fix/replace it myself, mainly because I am kinda a gear head and enjoy working on cars. I currently have a 1997 5 speed as well and have done all repairs and maintenance on that one with no issue...now at 255k miles. So for the peace of mind on something breaking that I can not repair myself, I bought the VSA. Here is where I am second guessing myself.

So I paid $1900 for the 84 mth/100k TMIS Extra Care VSA. As I have been reading, seems like I overpaid, even though the salesman claimed he discounted it off $3300. Secondly, he mentioned as I was buying, that it only added $10/mth to the payment...big deal. As I am looking at the papers now, looks like it adds $30/mth. I could live with $10/mth, but $30 is kinda getting me thinking if it is worth it. Finally, and the biggest reservation I have, is that I would like to modify the truck. I dont like driving stock trucks...never have...so I will be doing some mods like 3" lift, larger tires/wheels, possibly intake and exhaust upgrades, ect. It definately wont be a "crawler" by any means, but I intend to drive off road a small ammount. As I was talking to the stealsman, I mentioned to him i will be adding these things and asked if it would void any "warranty" i purchase. He said, and I quote, "as long as it is done professionally, you can add the extras without hindering the 'warranty'". so i then asked if i could do the maintenance and mods myself, and again he said "as long as it looks properly done and not duct taped or something, and you keep records, you will be fine"

So I am looking for some opinions as to whether I should keep it or not for the computers and such, or cancel it being that I may be paying for something I couldnt use if i wanted to, due to the mods I would like to add and the fact that I will be doing all routine maintenance and repairs. I have roughly another 15 days to decide, as per the 30 day cancellation policy.

Thanks in advance...

 

anyone??

 

I bought a certified 09 tacoma, i bought the warrenty and had a few things that needed fixing within 5-7000 kms of purchase... They didnt honor the warrenty because it wasnt part of the original warrenty... I said fu gimme back my money... So i no longer have a warrenty... For the best anyway.. after you do a cab mount chop...no turning back lol... I say warrenty if its fresh off the lot other than that nah... My.02 gl

 

I paid $2300 for mine in california, maybe over priced maybe not but I figured like you there are a lot of electronics in the truck and if anything goes out that isn't covered under the powertrain warranty the TSA platinum care would take care of it. And also I'd rather have that $2300 included in my monthly payments than have to spend $2300 out of pocket on any repairs, because I just can't afford that. I bought my certified used 2010 DCSB TRD sport prerunner with 34,000 miles so I got my warranty till 100,000 or 7 years. Hopefully it holds up, but by that time I'll have it paid off and looking at a new truck then

 

I dumped mine, hope I'll never need it.

My buddy just got a new tranny in his FJ covered though, def worth it.

Total gamble.

 

Premature clutch throwout bearing wear was a known issue with the 6-speed until the TSB fixed it. Anyone remember if 2011 trucks are pre- or post-fix?

 

I personally never had luck with warrantys. Its seems everything i needed covered wasnt.

 

Any new vehicle I have bought regardless of make I got an extended warr. I have used it on every one. Remember, all it takes is big issue,price wise, to have u say it was worth it. On my jeep, I lost 100 bucks having the warr. On my gmc I saved thousands as well my van. So I'm way ahead of the game.
It is a chance you take.

 

I think you over paid too because i have the Platinum Plan and i paid 1560 and its 8 years/125,000

 

I think the cost of the extended warranty has to do with many variables that come into effect to determine costs. Like type of truck, options that the truck has, mileage, and also location and dealer prices. Not sure if tax in different states effects this either.

 

You grossly overpaid by about $1000. As you may or may not be aware, the Toyota extended warranty can be purchased from any dealer at any time (as long as truck is within the 3 yr/36k factory warranty), even over the phone. Going rate for the 7 yr/100k mi platinum plan is about $890 at these two dealers:

http://www.toyotanation.com/forum/162-truck-suv-van-deals/209848-great-deal-extended-warranties.html#post1945557
http://www.toyotanation.com/forum/1...-deal-extended-warranties-12.html#post3947851

 

When I bought new I also purchased the extended bumper to bumper warranty just cause I know to fix an AC or stereo is beyond my skills and those things generally decide to crap out right after you lose your warranty. Also got the Gap insurance.

 

What's that?

 

http://en.wikipedia.org/wiki/GAP_Insurance

 

All I know is that the coverage you get for the price you pay is ALWAYS designed to be a better gamble for them than for you .

 

^You are absolutely right. It is technically not a warranty, but a service agreement. Take a look at the fine print here:
http://www.toyotafinancial.com/consumer/tfs.portal?_nfpb=true&_pageLabel=tfsVSAOverview_unsctf&autoStart=true

The VSA is underwritten by Toyota Motor Insurance Services, Inc. Their bookies figured on average the Tacoma will cost well less than $890 to repair in the duration between 3 yr/36k and 7 yr/100k, so they put the baseline pricetag for the plan at $890. The rest is a huge dealer markup, meaning the dealer can sell you a truck well below invoice, sell you the service plan at $1900, and make $1000 profit.

 

Ohhhhhhhhhhhhhhh

 

I bought the truck in another state. Does anyone know, if i did cancel the service agreement, do i have to go through Toyota over the phone, or can I go to any dealership? I cant really go back to where i bought the truck cuz it was a few states away...