Aftermarket warranty... Worth it?

So I've owned my Tacoma (2013 DCLB v6, that just clicked over 25k this week) less than a month and I purchased the $1500 warranty through the bank that covers basically EVERYTHING except usual wear and tear on a vehicle.

It's covered through 100k on the truck. I sat back and got to thinking, as long as I keep it basically stock, I've seen these trucks run forever. Engine and transmission combos seem to last forever and I can't really seem to find many people with stock trucks having many issues.... Is it worth it to keep the warranty for an added insurance "just in case" or should I drop it and just drive the thing.

Only mods I plan on doing really are mostly appearance items, ARE camper this week along with CAI and maybe exhaust.

I come from driving GM vehicles for the past 15 years and it always felt like I was working on it or worrying about something breaking.

 

Some have had catastrophic failures and been pleased that they purchased the warranty. Some with the same problems have spent a lot of money out of pocket. I'm not much of a gambler, but I figure the odds are in my favor. Also, if something big happens It'll likely be something they wouldn't cover or will be covered by insurance.

 

Well, I had 7-100k, zero deductible on both my 2011 RAV4 and on my 2013 Tacoma TRD. I tried to get the dealership to look at the overly tight, never-used seat back latches in the RAV4, and they said I'd likely have to pay $60 diagnostic fee (on seat back latches?). That sealed it for me -- it seems like they will try pretty hard to not cover something anyway..

After reading and re-reading a lot of feedback on whether it would pay off, I decided to refund it last week. I'll keep the money in the bank in case problems do arise. The refund checks arrived yesterday.

 

This warranty is through the bank that financed the truck (Not sure if I made that clear) and has a $50 deductible. I figure $1500 is at least the cost of a transmission or something large that breaks and go through a stealership

 

Did you buy your vehicle through a Toyota Dealership, possibly certified, or from another seller? If Toyota certified, some major things -- specifically engine and drivetrain would have long term warranty already. Otherwise peace of mind is definitely a reason for a lot of people to go with extended warranty.

 

Get rid of it. I had it on my wifes Rav4 and my Tacoma. We used it once on the Rav4 to cover a gear that would have been about $800 out of pocket. The warranty costed quite a bit more than $800 so we are in the hole on that one. I tried to get a few things on my truck fixed under my warranty. Before the dealership knew I had a warranty, they were quick to tell me that my steering rack and front u joint were going out and needed to be replaced. Once I told them about the warranty, their whole tune changed. They had to get an inspector out there from the warranty company. They shot it down and said nope, not fixing it until it fully fails. Dealership wouldn't challenge them with their findings so I challenged them and asked how the dealership said yes it needed to be replaced a few days ago. In the end, service manager caved in very quickly and said no we aren't fixing it now. Warranty was ended that day and rest is still being worked in refunding back to me.

Also, if the warranty is only good until you reach roughly 100k miles, most major things don't fail in that amount of time unless you do something crazy. If you got the truck with already 100k miles and it covered it until 175-200k miles, then I would probably keep it.

 

As with most things in life you will have to make the decision on your own. Everyone has their opinions and you know what they say about them.

You will have guys that think warranty's are worthless; then you will have those that thinks its worth the piece of mind.

At the end of the day, its $1500 bucks, not going to break the bank either way, and if you own the truck for 10 years, what is $150 bucks a year? What is 12.50 a month, a few beers! I mean shit, you have guys on here taking out 5-7 year car loans in order to get into a Tacoma yet say warranties are worthless. To each is own.

 

Your dealership sounds like a bunch of jackoffs.

 

Wasn't the one I got the cars from originally. I got them from another and moved back to my hometown where this one resides. I agree though, bunch of jackoffs and wouldn't recommend them. I'll try some others in the area. My grandfather in law had problems every time he took his base Tacoma up there for the basic services. They always screwed something up.

 

Amazing how hit or miss dealerships are. Good luck finding another one that works out for ya.

 

It would only take off $1500 from what I owe. It's all wrapped up in the loan.

 

Hardo alert.

 

I guess it all depends on the dealer or car manufacture.... My wife has an infiniti and we got the extended warranty we paid 800 dollars and it has already paid for itself. We never get push back they just fix it and we get a loaner. Front suspension replaced, exhaust manifold cracked according to them it was replaced, but i'm sure they just fixed it. numerous electrical issues. We also reported our gps kept getting us lost so they updated the map that alone was a 180 dollar update. Including mud flap coming apart, replaced with new part and side mirror replaced they could not adjust it.

 

Thanks for the vote of confidence...

Anyways, back to my original point, is it worth the $1500 over the next 4 years/80k miles..... Main point being do many people with STOCK trucks (no lift, no SC, no crazy mods) see many issues with certain areas that become rather costly?

 

I think the 15 posts before speak to what I was saying. There is no right or wrong answer.

 

fair enough

 

It's not that much $$.......good for piece of mind and possibly transferable if you plan to sell (good added value for buyer)

 

I opted for the warranty. Yea it was an extra few bucks a month, but seeing as the way the world tends to work for me- if I didn't have it I would have a situation where I could have used it. But if I have it, I probably won't have to use it.
Yes the trucks are built to last, but yes sometimes shit happens that you can't forsee. I guess it bottles down to if you want the peace of mind, or if you want to "risk" it.

 

what is the worst case repair expense you could possibly have? $5000., maybe? is it worth $1500. to cover $5K? Not to me. Like my dad told me, it's like insuring the grocery bill.

 

Well if you ever have to pay a $5k repair bill, let us know how you feel knowing it would have only cost you $1500 if you had a warranty!

I get what you are saying though.