Aftermarket warranty... Worth it?

We have a 2009 with a warranty to 100K. Toyota only offers 3yr/36K factory and warranty covered for the burnt DRL headlamps, u-joints, leaking shock, saggy leafs. So far, it's been worth it.
I purchased the warranty for my 2015 as well. Toyota warranty can be purchased from any Toyota dealer and within the 3yr/36K mileage. If you shop around, it can be had for cheaper.

 

I guess its personal preference. I happily paid the cost to warranty the truck, seeing as it was a fraction of the cost of the overall vehicle, and if I had to shell out 5 grand that I don't have towards vehicle repairs out of my own pocket, I would sure as shit be kicking my self in the ass for not paying the few bucks a month.

 

I read the average cost of a "warranty" is $1200 and the average claim is $800... I didn't get one with my certified used 2009.

 

If we were talking BMW, Mercedes, Audi, then the choice regarding a warranty is much easier, but since it's a Tacoma and they are reliable its not an easy decision.

Off topic a bit: Speaking of German warranties. I guess there are different levels depending on how deep your pockets are. If you wanted the full blanket, covers all electrical, mechanical, etc on a new 335, my neighbor was saying the cost was north of $3800. Now that is $$$

 

That's why a $60,000 BMW or Mercedes is an $8,000 used car when the warranty is up. There are lots of them on the used car lots here. Seldom see a Tacoma...

 

Yup exactly.

Local gas station had a Tacoma on the lot Monday, come Friday .... gone.

 

I gamble on my truck and didn't do any additional warranty or service plan. For starters, I hate walking into the finance guys office after you've already negotiated the sale and then get another pitch where he wants to add $70/month to your payments and tells you necessary it is to get the premium package they offer that covers everything (but likely really doesn't). That just pisses me off and I want to say "NO" to him...so I do. Yes it's a gamble, but I feel like I generally take good care of my vehicles and have confidence in the Tacoma overall.

For my wife that's a different story. She puts miles on her vehicle like crazy. Long commute and when she's got time she drives to see her parents a lot. She also has a car with more gadgets than I could ever imagine, which means more stuff that can crap out on you. And if she had to live without seat heaters for a week in the winter my life would be miserable...so we get the plan and I have that cost in my head as we negotiate when purchasing her cars.

 

That's marriage in a nutshell.

 

Depends on the car but I would confidently say that that buying the warranty is a waste of money. The Warranty runs out at 100K anyways which s nothing for most cars these days.

 

I went with my friend to buy a honda a few weeks ago and all you hear is how reliable it is and how they will last forever and they never break down. But as soon as we negotiated everything we went to the finance guy and he was saying how common it is to see newer hondas in the shop all the time and how the engine is good but you never know about the transmission or the electrical components. Dealers make their money on the financing and service department and sales is usually a cost center. It's an awful system.

 

Warranties are a crap shoot.......some advantages, some not so much. I used to have a 2001Prerunner with 100k warranty. Just after it expired guess what? Transmission went out - repair cost: priceless (not so much in my case, 4K to replace)....I did follow all of Toyota's "recommened" service intervals but the vehicle is mechanical, gonna break down! All about timing I guess, oh well!!

 

Yea, 100k warranty/slash service plan add on is a crap shoot. My wife's free 100k warranty on her Kia was nice and free except 109k is when everything started to go south; even though it was well taken care of. I wouldn't do an extended warranty with a fee unless it's after 100k. New vehicles now a days are for the most part reliable for 100k. Now don't get me started on the old days when K-cars (Chrysler) and other brands hoped they only lasted 45-50k so your would have to replace... rant over.. LOL
Still comes down to personal preference.

 

When the dealership offers me the extended warranty, I always say something along the lines of "WTF? Are you guys expecting this truck to break down? If so, then why don't you just knock the warranty cost off the sticker price?"

 

I have a policy of never buying an extended warranty on anything. I am fortunate to have the money to self insure. Now if I was buying a Jeep product I might change my ways. I try to stay away from products that I might need an extended warranty on. So far my policy has paid off many times over.

 

No they are not and that is why they push the warranties so hard. When I bought my 2013 I told the finance guy when he started to push the warranty I was going to turn around and look out the door and I did. He said "why do you think we have a service area?" I just ignored him until he said what if I can lower you rate by .4%. I turned around and asked if he would make the same offer without the warranty. Of course he knew the right answer but you know he would not have. I said give me the lower rate and no warranty.

 

I have never purchased an extended warranty and never will. Financially they are a bad deal and as a gamble they are a lot like Vegas where the house always wins. Except in the extended warranty game the house wins by much bigger margins. Instead of paying for one (or worse yet borrowing) up front that may never get used, self insure by setting money aside each month for maintenance and repairs.

 

Aftermarket is always riskier; they'll have no incentive to fix ur vehicle. If you're really into extending your warranty buy a VSA. Ck the thread: https://www.tacomaworld.com/threads/2014-extended-warranty-prices.327547/

 

I agree. Overall I don't think a warranty is worth it but if you still want one it's best to get it from the factory. Especially cause you can finance it.

 

Aftermarket warranties are worth it if:

a. Something goes wrong and the repair is going to be costly and covered by the warranty.
b. You can actually get the aftermarket warranty company to honor your claim.

In the case of a - not likely to happen - yes it can - but how often do new Toyota's have major issues. Mine have all gone 300K-400K.

In the case of b - good luck

Base warranty covers to 60K. Aftermarkets only offer another 40K-60K. If you make it to 60K and you maintain the vehicle and drive sanely, you'll likely drive on for many more miles.

Use the money for other things.

 

I would go so far as to say that if a person thinks they "need" to buy an aftermarket warranty, as opposed to self insuring for repairs, one of two things is true. Either they got into more vehicle than they could actually afford or don't have a firm grasp of personal finance. Flame away.