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Extended Warranty... Good or Bad Idea?

Discussion in '2nd Gen. Tacomas (2005-2015)' started by falco, Aug 16, 2007.

  1. Aug 16, 2007 at 2:31 PM
    #1
    falco

    falco [OP] Member

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    Should I keep my Extended Service Plan? When I bought my truck, the dealer offered a 7 year 75,000 warranty with the truck for $820.00 . He said it was fully refundable, if I didn’t want it. I have a 2006 Prerunner Access 2.7 with 5,000 miles. Should I keep this plan or stick with the factory warranty? I’m familiar with the 100,000 mile, but not the 75,000. What is the typical cost for the extended warranty?

    My girl friends 1997 4 Runner drove with 0 problems, until the radiator blew at 186,000... and that only cost $370.00…
     
  2. Aug 16, 2007 at 3:29 PM
    #2
    maverick491

    maverick491 Towing Guru

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    Fully refundable is a matter of semantics. Personal experiance speaking here. I bought the 7 year 100,000 mile extended warranty on my 04 Tacoma. I traded it in at 2 years 360 days from the day I drove it off the lot with 17,500 miles on it. So you would have thought that the since the 3 year-36,000 mile warranty was still in effect, the extended warranty would not be pro rated, and that I would have gotten the full $1200 back. Right?

    Well I got $670 back from toyota financial (holders of the warranty) when I called them to bitch about that. They told me that they did refund the full value of the warranty. That anything above that price that they can get for it is pure profitt for the dealer.

    So yes, you'll get some money back but not the $800 you have into it. Neadless to say, I did not fall for that trap again when I bought my 07.
     
  3. Aug 16, 2007 at 5:14 PM
    #3
    Snickrz

    Snickrz Well-Known Member

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    Here is my take: You are buying a Toyota. Now that doesn't guarantee your car will run 100% for its entire life, but you are much better off than someone buying a car from the Big 3. The warranties are pure profit for the dealer just like at an electronics store. Did you know that Circuit City pay out $.09 to $.14 per $1.00 taken in on extended warranties?

    If you are going to drive the car till the wheels fall off (and if it is a Toyota this could be the last car you drive if that is you intent), then maybe the warranty is good. But, I have a 2005 Tundra on which I passed on the salesman's warranty dance. I now have 55,000 miles and you will never guess what happened...a few months prior to hitting 36,000 (the end of my factory warranty) I started to get letters from Toyota and outside firms trying to sell me a plan that would extend the warranty.

    I say tell them "thanks but no thanks" and if later down the road you decide you want one it is easy as pie to get through Toyota, the dealer, or an outside firm.
     
  4. Aug 17, 2007 at 3:55 PM
    #4
    Mudbug

    Mudbug Well-Known Member

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    Amsoil 0w-20 engine oil and Amsoil Full synthetic 75w-90 in the Transmission, transfer case, front and rear Differentials. AFE Cold Air Intake
    Meh, they tried to sell me a warranty. I said no. What are the chances. Besides I can fix it all myself anyways.
     
  5. Aug 17, 2007 at 5:23 PM
    #5
    03coma

    03coma Well-Known Member

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    Yea I don't usually buy that stuff, but when I got my 03 Taco I said yea give it to me. lucky for me 2 months after my Toyota warranty ran out my starter died. Well let me tell you they wanted around $400.00 bucks to replace it. The warranty worked out for me this time.
     
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