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Extended Service contract Poll

Discussion in '2nd Gen. Tacomas (2005-2015)' started by Kingfrog, Feb 14, 2011.

?

Do you buy "Peace of Mind"????

Poll closed May 15, 2011.
  1. Buy them...never used it

    25 vote(s)
    15.1%
  2. Buy them..saved my ass.paid for it self

    34 vote(s)
    20.5%
  3. Buy them..sold the car never got refund

    4 vote(s)
    2.4%
  4. Don't buy them..wish I had

    4 vote(s)
    2.4%
  5. Don't buy them...saved a pile of money over the years

    99 vote(s)
    59.6%
  1. Feb 14, 2011 at 8:57 AM
    #1
    Kingfrog

    Kingfrog [OP] Well-Known Member

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    Okay so some people would not own a vehicle without one. "Peace of mind" and all that jazz. Others just don;t buy them. Either they are older and remember a time when they were not offered and survived or don;t keep their vehicles long enough to worry about it and forget they can get a refund for the unused portion.

    Other HAVE used them and if one uses them once they buy them forever.

    So lets see where the majority is on this. What are your experiences with trying to use them?
     
  2. Feb 14, 2011 at 9:24 AM
    #2
    scottri

    scottri Well-Known Member

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    Don't buy 'em, never will.
     
  3. Feb 14, 2011 at 9:32 AM
    #3
    kb1jop

    kb1jop Well-Known Member

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    The exclusions and restrictions can be so ridiculous you'll likely never be able to use it anyway. Tip 1) Save your money. Tip 2) Don't blow your money on frivolous mods either and save that money too. Note: Not saying all mods are frivolous but a few here and there seem a ridiculous waste of money that might be used for necessary repairs in the future.
     
  4. Feb 14, 2011 at 3:36 PM
    #4
    Kingfrog

    Kingfrog [OP] Well-Known Member

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    :D:D
    The distinct lack of interest in this poll is telling!!
     
  5. Feb 14, 2011 at 3:47 PM
    #5
    TerryS

    TerryS Well-Known Member

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    Cape Cod, Mass.
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    WeatherTech floor liners and wind deflectors; shorty antenna; OEM tow hitch & wiring; bed mat; accessory meter console w/temp & compass; 4WD switch lighting mod; Viper 5301 Remote Start; TRD front tow hook and aluminum skid plate; color matched door handles & grille; FJ fog light switch with on/off indicator light; fog light anytime mod; N-Fab steps; Extang tonneau; Blu-Logic bluetooth, and; TRD OR alloy wheels.
    Don't buy them and never will, but it came "free" as part of the sale, as did 2 years of service.

    Good to see you here, Tom. How's the 1300 holding up?
     
  6. Feb 14, 2011 at 3:49 PM
    #6
    steviestyles

    steviestyles The "Search" tab is your friend!!

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    Steve
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    There's been threads on this before. One option I think needs to added, "Got one, have used it, but hasn't paid for itself." They Toyota Warranty is a hell of a lot cheaper than the one we got for our Chevy and the one for my old Ford Ranger.
     
  7. Feb 14, 2011 at 3:56 PM
    #7
    BryWi

    BryWi Psalm 109:8

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    If you have confidence in the quality of the vehicle you are buying, why would you need an extended warranty? :rolleyes:

    I guess it would make sense if someone puts extremely high mileage on their ride and the extender is based on number of years and not miles.

    But otherwise, I think they are just a money-maker for the dealership.

    Any type of insurance company is not in business because the coverage they offer loses them money.

    They're playing probabilities. And the vast majority of times they win...
     
  8. Feb 14, 2011 at 5:03 PM
    #8
    Kingfrog

    Kingfrog [OP] Well-Known Member

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    Terry, I am almost embarrassed living in South Carolina to say it has been parked in the rear of the Garage most of the "Winter" ..LOL I am a pussy as you know. If its not 60 degrees, I don't ride it because I hate gearing up like a Caterpillar in a cocoon..helmets bah...LOL I like to get on and go with whatever I'm wearing. Unfortunately when the weather is in the 50's thats not fun. I ride the bike in the Winter only if I have to. Thats why I like to have a "cage" I enjoy driving equally as well.

    Traded the Honda Accord Coupe for a revisit to the Tacoma I had years ago and really enjoyed it off and on road. Having a house I realized I needed a truck more than a midlife crisis mobile.

    hondaguy is "Hondaless" on both counts now...

    Old Dad is here as well from Shadownet...LOL
     
  9. Feb 14, 2011 at 5:08 PM
    #9
    Kingfrog

    Kingfrog [OP] Well-Known Member

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    My quote was for $610 for 7/75K I figured since I don;t put a lot of miles on especially in the Spring summer and early Fall I wanted YEARS over mileage. Then I though WTF could possibly go wrong up to 75K and all of a sudden even $600 seemed like a lot. I have 12 months to make a decision. Gonna see how the truck holds up i the next 12 months. If a lot of little things start failing under factory warranty I will get it. I usually buy them on used vehicles until I am satisfied all is well then I have it refunded.

    Since this truck was one owner and purchased where I bought it and had all service done there I figured the guy was far more OCD than i will ever be and took care of it.
     
  10. Feb 15, 2011 at 10:02 PM
    #10
    JKD

    JKD Well-Known Member

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    I'd like the "driveable parts" of a car to be under warranty for as long as I'm paying for it.

    After that, I can put my "car payment" into the savings account. If your average car payment was even $300/mo, you put $3600/year into the account. If you need a trans rebuild or a rear end, you're good. And if you take 5 years to pay it off, and then keep it another 5 years, you'll have some residual value in the truck plus $18,000 + interest in the bank.
     
  11. Feb 15, 2011 at 11:03 PM
    #11
    whitetacolove

    whitetacolove Member

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    i did one, hope it helps down the road.
     
  12. Feb 16, 2011 at 8:19 AM
    #12
    asus611

    asus611 Well-Known Member

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    My old man has one on his M5... which in his case is totally worth it. Ever priced out a front brake job for an M car? Easily over $1400, no joke.

    My buddy is a BMW Technician, and even at his costs, parts alone for an E46 brake job are around the $1,000 mark.

    We drive Toyotas. Replacement/maintenance parts are cheap. I say pass on the service contract. Take what you "would" have paid for the contract, throw into into a ultra high yield savings account at 1.3%, that will def. cover your maintenance costs for years.
     
  13. Feb 16, 2011 at 8:20 AM
    #13
    kdevoe

    kdevoe Member

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    It's the only extended warranty that I purchase. On some of my vehicles over the years it was never used and on some it was a life saver. Over-all I benefited with their purchase.

    I will never purchase one for a computer, TV, refridgerator, washer or any of the other household items.

    Kevin
     
  14. Feb 16, 2011 at 2:12 PM
    #14
    xpert1111

    xpert1111 Well-Known Member

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    paid 1600 for mine. considering what these extended plans go for with other cars this was a steal and no-brainer. I know Toyota is supposedly all dependable, etc. but no one makes a perfect car that will never need fixing. An A/C clutch/condensor repair alone will cost you $1000
     
  15. Feb 16, 2011 at 3:31 PM
    #15
    Sport11

    Sport11 Well-Known Member

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    I got a powertrain warranty for as long as I own the truck for free. :D The only downside is that I have to have all maintenance performed by a Toyota certified mechanic :(. I have never taken my vehicles to a mechanic for anything except tire mount and balance, alignments, and the time my mustang engine blew up.
     
  16. Feb 16, 2011 at 3:46 PM
    #16
    Chris(NJ)

    Chris(NJ) Well-Known Member

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    x1000000
     
  17. Mar 14, 2011 at 8:30 PM
    #17
    Kingfrog

    Kingfrog [OP] Well-Known Member

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    And NEVER take a BANK car loan again....LOL.. Been doing this for many years. Yeah I have a perpetual car payment and I pay interest to an interest bearing account..MY account. I am my own bank and I never give myself the best rates LOL...I then buy a vehicle with less than in the account and leave some for maintenance and repairs.
     
  18. Mar 15, 2011 at 2:54 AM
    #18
    BRYLONATOR

    BRYLONATOR I now own a RAM!

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    I have been in the car business for over 25 years. I have been involved with so many different sides of the business i bet most of you didn't even know existed. When I was a finance Mgr for a very large family of dealerships (37 stores to be precise) I was consistently in the top three month after month for selling the most extended service contracts. 99% of people would think wow...that guy must be shady! On the contrary....I have gained so much experience over the years that I never sold one contract but rather shared stories and insight with the customers and truly allowed them to decide if they wanted it or not. I, myself can pull a vehicle apart nut by nut and put it back together again. Flawlessly. But when we purchased my wife's 2010 Rav4 sport last year, I made sure that we also purchased a service contract. It has nothing to do with the reliability or quality of a vehicle. Shit happens! It is a mechanical part that is subjected to abuse day after day. Something will go wrong eventually! And even though I could diagnose it and fix it....who cares! I still have to pay for the part! A lot of this stuff has gotten really expensive these days. The important part is to buy the correct package for the CORRECT PRICE! We got the Toyota platinum package which meant bumper to bumper with out any deductible and the vehicle is covered for 6 years or 125,000 miles! That is huge. Now dealerships can charge upwards of $2,500 for this package but I made sure to research all of this before we stepped one foot into the store. We got the package for only $605 which is actually $5 over their cost! I am very happy! I don't have to worry about the wife's vehicle for a long time!
     
  19. Mar 15, 2011 at 6:25 AM
    #19
    Simon's Mom

    Simon's Mom Wag More Bark Less

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    Stock for now
    I do not buy one on any my previous toyota trucks (87,90,95) but did on my 2006 right before the 3/36 ran out.
    The purchase was through Troy the Toyota warranty guy in Greenfield, Mass.
    Yes already used it on some cooling system repair the drivetrain warranty wouldn't cover ($500). The truck also had warranty done (electronics) during its initial warranty that made me skeptical hence the purchase. If I sell the truck privately its transferable or trade before its up (pro-rate).
    As said, not my usual habit to buy the ESP.
     
  20. Mar 15, 2011 at 7:18 AM
    #20
    angrysam

    angrysam Bring Yuengling To MN!

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    I've spent enough time working in a dealership service dept to know that they are good to have. I have yet to have any friend or family member buy one at my urging and not have it pay for itself.

    The aftermarket contracts are usually the ones that burn people with all the exclusions in the fine print. The ones offered directly by the manufacturer are worth the extra money you pay for them because they don't screw with you.

    I look at it like this:

    My truck breaks down it's going to at least cost me the price of parts. I'd like to be able to use Toyota parts if possible. Plus I might have to rent a car until I find time to fix it or have to miss work to fix it.

    With my Toyota extended warranty I get: rental, towing, roadside, $0 deductible, lodging if I'm traveling and factory parts installed by (hopefully) qualified factory trained technicians.

    If I have one or two breakdowns the contract will pay for itself in not only repairs but in the convenience of being able to continue my life with minimal interruptions until my truck is back to me.

    It's like a fire extinguisher- You hope every single day the money spent on it will be wasted but you're thankful that you have it when you find you need it.
     
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