Extended warranty thoughts?

What's everyone's thought on the ECP offered by Toyota? I have to decide this week if I'm going to go ahead and purchase it. Seeing some of the tranny issues it's making me lean towards yes, however at $3k ish it isn't cheap. I had a '08 and never had any issues so I feel like it was money wasted in that case. I realize the whole purpose of the extended warranty is the manufacturer gambling you won't need it, just wondering everyone's two cents.

 

put the 3 k in your bank account and not Toyota. If you need if for repairs you have it if you don't need it you saved some money.

 

You can get it much cheaper than $3k. Call around to several dealerships. I was quoted a range of $1595 to $3400 for 7 years and 125k miles. Dealership that was the cheapest was a long ways from me, so I got mine where I bought my truck for $1900 with no deductible.

If you are looking to buy and not roll the cost into your monthly payment, then shop around. Call several dealerships and ask for the finance department. I've read on here where some have gotten it cheaper than what I was quoted. Good luck and let us know what you find out.

 

Remember, you can always buy an extended warranty close to the end of the factory warranty.

You might not even own the truck by then.

 

$3k will handle quite a few repairs. Given Toyota's reputation for reliability, they are betting you will pay the money and won't need the warranty.

I'd feel completely fine not buying the extended warranty, but I also have a history of fixing cars.

 

Well, I bought everything ... all of it ... but it is rolled into the payment ... probably because I am old and stupid, and I know Toyota has a reputation for reliability ... But I asked ONE question ......

Does this 2016 Taco have NEW type of electronics as compared to the previous year (2nd Gen). Answer was Yes, there are 7 new separate computers that run the whole truck ... they are all new for the 2016 and can be very expensive to replace.

So I got the warranty ....

Other note: I will be putting a ton of miles on my Taco, I will be heading up to Fort Mac in Canada from Texas .... so I don't want problems and I don't want to fool with 3rd party warranties 3000 miles from home. If it breaks down 1-800 Toyota come fix this. I usually travel twice a year.

The money spent on warranty will extend my life by 10 years not being stressed.

If you are not a road warrior, and you are close to the city maybe 3rd party is cheaper.

I needed the ability to just take it to Toyota and have it fixed .... I don't want to be calling a 3rd party company and having some component missed because I didn't read the 78 page list.

 

I bought mine due to my recent experience with my 14 Wrangler Rubicon X. I didn't have one single hiccup or warranty repair....UNTIL...I hit 66k miles. The cylinder head went out and had to be replaced. Luckily, Chrysler has a 5 year 100k mile powertrain warranty or that would have been a $4,000 repair.

I considered the new powertrain and the electronics in the 3rd Gen Tacomas and that Toyota's powertrain is only 5 years and 60k miles. I live out in the country away from everything. I have to drive a lot to get anywhere. It takes me an hour to get to the nearest movie theatre, 30 minutes to Walmart, etc. So, extended warranty made sense to me. Plus if I sell my truck in 4 years with 100k on the ticker, there is still 3 years and 25k miles bumper to bumper transferable warranty. That will make it more marketable.

It's all relative to experience and available options. Do what is best for you. My choice was based on my experience. Oh, and the Jeep dealership I sold my Jeep to sold my Jeep to someone 3 days after I sold it to them. The new owner brought it back the next day with the check engine light on needing yet another cylinder head replaced. Yikes.

 

I had bought it along with extended Toyota Care but had buyer's remorse and cancelled both yesterday. Saved a ton of money and made my deal look like a steal now.

 

Why buy a brand new vehicle and pay for repairs ahead??
I buy a new vehicle to skip repairs and headaches for a while. But, if I have to expect to spend my precious time at a shop, I might as well buy an old vehicle and fix or repair it daily like I used to do when I was a teen lmaoo!
If Toyota turns out POS, and there's no reliable alternatives left, I'll be doing just that. Buying old restored vehicles that will go up in value as the days go bye lolo!
Hope that helps
Cheers!

 

BTW...I should add that the warranty is not worth it. A 100k mile warranty is nothing now a days, almost any vehicle can do that, it's after 150k that things get interesting, and interestingly enough, that's when the extended warranty will be DOA.
Hope that helps too lol!
Cheers!

 

I bought the extended warranty specifically because of the computers. I usually keep my vehicle for a long time (10 yrs or so) so Im curious to see how they'll function as time goes by.

It only added $20 a month to my 5 year loan payment.

 

Word of caution. READ the specifics on what is covered and under what conditions it will be repaired. Ask questions ( in writing) to the under writer.

Research the stability of the under writer too. Too many 'fly by night' smucks out there.

Also look at plans that offer money back if you never make a claim. Some will do that.

 

I have first hand experience where the Toyota ext warranty did not cover bubbling paint on the wheels. Obvious defect as the wheel castings where not properly out-gassed resulting in casting gas surfacing and bubbling paint.

 

Yep, different levels of coverage for the different prices, decide what you're most concerned with and make your choice accordingly.

 

I opted FOR the extended warranty because it somehow brought the interest rate down on the finance by alot. So it turned out to be the same price without it and a high interest rate, as it was for with it and a low interest rate.
Plus i have 8 free oil changed not including the first complimentary one, and all the regular service scheduled maintenances free.. Ive had mine in for the first and second already and havent paid a dime.

 

If you want an extended warranty you have until your 3/36 runs out to purchase....

Check out these guys and/or check other stealerships for better deals

https://www.tacomaworld.com/threads/great-deals-on-toyota-extra-care-platinum-warranties.167557/

 

I bought it. The piece of mind of having 9 total years of bumper to bumper warranty was worth it to me.

 

That's originally why I took the extended coverage. It knocked .5 off my interest rate. When I went to cancel it yesterday I got to keep the lower interest rate still so it ended up working out nicely.

Wow, for those prices I may end up covering both my tacoma and my wife's highlander!

 

I see warranties just like insurance. If you cannot afford to fix things as they come up on your own an extended warranty will be worth it. We bought my wife's pathfinder used and bought an extended warranty just because it was cheap. 7 year 100,000 miles for $600. The piece of mind that we won't have to screw with the car made it worth the price.

 

Yeah I got my 6 year extended for something around $1500, if I recall correctly.