Extended Warranty - Anyone here sell them?

I've always read that an extended warranty is a terrible financial decision. I have and have not had them in the past, don't currently.

 

Maybe, but for less than 1200 for the 10yr 100k I couldn't go wrong. It is perfect for me since I drive under 6k miles per year and keep my cars forever. $120 a year for peace of mind. Easy decision really.

 

No mods planned?

 

Nope. Other than kicker speakers, that's all. Even then its no mod to existing harness and wiring, so, no. No Mods. I put letter insert on tailgate, if that counts.
ETA: And seat covers, but that doesn't count either I guess. I added step bars and those are cool.

 

Just got back from my local Toyota Dealership. I have a ‘16 SR5 with 51k miles. An extended platinum warranty for my truck is 4700 for 5 year/65k miles

 

Worth it is relative. For the most part anyone who's had claims approved and have had repairs more than the cost of the warranty will tell you it's worth it. Anyone who's bought the warranty and never needed to use it or had claims denied will tell you it's not.

 

Google wolverine Toyota in Michigan.

 

And? I am guessing to try and obtain a warranty through them?

 

Well, I assumed that you were shopping for a warranty since you commented about the price of the extended warranty through the local dealer in a thread where people are discussing where to purchase them for a good price. I figured the intent behind my response would be self explanatory but I guess not.

Yes, with the intent to contact them for a quote. They were 1/3 the cost of my local dealer and 1/2 the cost of the other lowest bids I received.

 

Extended warranties are there for one reason, they make money off them, not to help the consumer.

 

I could without a doubt pick apart your initial response. One could take it in two directions. Either Wolverine Toyota was cheaper than the offer I was quoted... OR you were attempting to make me feel better about my astronomical quote by steering me to a Dealership that is even worse.

BUT, I will definitely check them out. I do appreciate your insight.

 

Gotcha. Well, if you are looking for best deal I'd say they are the place to go.

 

I would imagine regardless of state its honored? Have you had to use it? You just always hear horror stories of people getting denied.

 

True. It is Toyota Factory warranty, extended and honored everywhere. My truck is only 2 months old so I have not used it. Frankly hope to never use it! I figure it is a gamble and for less than $120 a year, it is worth it to me.

I agree that it is like betting against the house, but it was under $1200 which is nothing in the big picture and I'm willing to gamble with it. Worst case, im out $1200... woopiedoo....

 

Oh ok cool. Well, My truck has seen over 3500 worth of TSB's covered under warranty already so it is a gamble I can take.

 

Is that a drivetrain only warranty ?

 

I don't sell them, but worked in a shop that had to deal with them. No chance on earth would I ever buy one. The nonsense they put you through when you try to file a claim is ridiculous. It is pretty much impossible to get any money out of them. They look for every reason to not pay and even when they agree to pay, they make it difficult to get money. They will may require you to send the bad parts to them and they could deny the claim if they don't like what they see and you are helpless to do anything. My advice is take what ever they are asking for a warranty, put that in an investment and forget about it until you actually have an issue. I'll almost guarantee that you will end up ahead.

 

I've always felt that if these were a good decision for the buyer than the dealer wouldn't push you to buy them so hard, they would be something you would have to ask about. Also you wouldn't get badgered constantly by phone calls and letters in the mail hawking them after you buy a vehicle. It just seems like common sense to me.

 

I got the 8yr/100K warranty though Toyota on my first 2019 I bought in January. I bought another truck on Tuesday and they transferred my warranty money over to my new truck. I guess it pays to deal with an awesome dealership.

I think I'ts worth it for service like that! When I bought it new I think I paid $800.00, It pays to haggle hard on those warranties. That's where they can really cut you a deal. I think the deductible is $100.

 

You no longer own the vehicle and you didn't transfer the warranty to another individual. The dealership has to give you the monetary balance of the warranty in some fashion or another, whether that is a check, credit to the vehicle or an accessory, or another warranty.