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Extended warranty thoughts?

Discussion in '3rd Gen. Tacomas (2016-2023)' started by Twotacos0816, Jun 12, 2016.

  1. Jun 12, 2016 at 9:24 AM
    #21
    sorgon82

    sorgon82 wanna go for a rip bud

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  2. Jun 12, 2016 at 9:44 AM
    #22
    tacoflavoredkisses1

    tacoflavoredkisses1 Well-Known Member

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    I never buy them.

    I have an 8 year 125k warranty on mine though because of all of the issues I have. Corporate hooked me up.

    If you pay $3k for one, the math doesn't work out for most issues. When was the last time you paid $3k+ for a car repair?

    I'd save it. If you decide you want one in the future you can always buy one later.
     
    JayDubya likes this.
  3. Jun 12, 2016 at 10:11 AM
    #23
    SDTaco4x4

    SDTaco4x4 Well-Known Member

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    Well I only paid half that, so it made much more sense. $3k sounds nuts. lol
     
  4. Jun 12, 2016 at 11:02 AM
    #24
    aero90

    aero90 Well-Known Member

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    I did not buy one. I was offered the extended warranty at purchase for $1600.

    This is my reasoning:

    1. Toyota historically has some of the highest reliability (this is a risk though as historically says nothing about tomorrow).

    2. Your high ticket, major repair items are going to be in the powertrain (which carries a 60k warranty).

    3. If most components last 3 years/36k miles or 5 years/60k miles, there isn't a huge chance there will be a mass failure soon after.

    4. You spend the majority of your repair money over a cars lifetime on wearable items (which warranty obviously doesn't cover).

    5. 125k miles isn't very many miles by today's standards. Between 60k miles and 125k miles, maybe the AC compressor is the highest chance item you have of going out (that isn't really cheap to have replaced). It still doesn't cost as much as the warranty to replace.

    6. Smaller items are easy to do myself.

    7. Toyota has actually been known to be pretty good about taking care of major items (that would cost thousands to fix) outside of warranty.

    Therefore, I felt the risk was small of not taking the warranty. Plus the warranty doesn't completely cover everything.
     
  5. Jun 12, 2016 at 11:42 AM
    #25
    cosmicfires

    cosmicfires Well-Known Member

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    My brother got an extended warranty on his car 'cause he doesn't like to mess with stuff. He found it was not "bumper to bumper", it didn't cover an expensive repair to the a/c.

    Recently the a/c quit working again, he was going to trade it in and get a new car. I took it to my friend who's an a/c tech, 2 o-rings for $5. and a bottle of scotch and it's fixed.
     
  6. Jun 12, 2016 at 11:52 AM
    #26
    2000man

    2000man The Church Of @ODNAREM San Diego Chapter 1904

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    Looks like a lot of members got hooked up on the price of extended warranty! I was quoted $2800 but talked them down to $2000 which was reasonable to me.
     
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  7. Jun 12, 2016 at 12:00 PM
    #27
    SDTaco4x4

    SDTaco4x4 Well-Known Member

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    I think I got a decent deal largely because they wouldn't budge one cent on the price of the truck.
     
    2000man[QUOTED] likes this.
  8. Jun 12, 2016 at 1:25 PM
    #28
    tacoflavoredkisses1

    tacoflavoredkisses1 Well-Known Member

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    You got a good deal because it's an extremely high margin product that they are still making high margins on after your discount.
     
  9. Jun 12, 2016 at 3:29 PM
    #29
    Woodrow F Call

    Woodrow F Call Kindling crackles and the smoke curls up...

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    This.
     
  10. Jun 12, 2016 at 3:32 PM
    #30
    SDTaco4x4

    SDTaco4x4 Well-Known Member

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    Let me feel good about the deal, ok? lol :rofl:
     
  11. Jun 12, 2016 at 4:38 PM
    #31
    BigE

    BigE Well-Known Member

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    Funny story about the 60k power train warranty. My mom had the 2007 RAV4 awd v6. It was a little demon from hell on steroids in terms of performance due to the power to weight ratio!! But one morning we look and it's leaking oil bad. We go to the dealer and turns out that it from the transfer case. And it all happened at 64k miles, and we didn't have the extended warranty. So we tried everything in the books. We replaced the gaskets and seals and even got a relatively new TC that was pulled from a very low mileage RAV4. Nothing worked, still leaked oil badly. So short story. Toyota didn't want to cover the repairs. We payed out of pocket. In total, it costed close to 3k with all the parts and oils and mechanics fees. IMO it's better to get the extended warranty like I did for my Tacoma. Better be safe than sorry.
     
    JayDubya likes this.
  12. Jun 12, 2016 at 6:05 PM
    #32
    aero90

    aero90 Well-Known Member

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    Yes, it is worth it if something like that happens, but the chances of something like that happening aren't high.

    It all boils down to what a person is comfortable with. If the extended warranty gives them peace of mind, then it is worth it to them and that is completely fine.
     
  13. Jun 13, 2016 at 5:05 AM
    #33
    NoDak

    NoDak Well-Known Member

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    um I hate to say it but that is still high.

    8/125 should have been around 1505

    :)
     
  14. Jun 13, 2016 at 2:20 PM
    #34
    Twotacos0816

    Twotacos0816 [OP] Member

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    Wow. This forum is amazing, thanks for the advice folks! I still don't have the delivery date firmed up, I got a pretty good deal on the truck so I'll see how much they are willing to come down with their advertised prices, otherwise I think I'll roll the dice and go without.
     
  15. Jun 20, 2016 at 6:19 PM
    #35
    jeff_taco_4x4

    jeff_taco_4x4 Well-Known Member

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    I purchased the extended warranty when I bought the 2013 Tacoma. Never used it. But, when I traded for the new 2016...my dealership gave me an extra $800 (pro-rated formula) on our trade deal because there was still time left on the extended warranty....nice!
     
  16. Jun 20, 2016 at 6:53 PM
    #36
    JayDubya

    JayDubya Well-Known Member

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    Yep and I was quoted the $1500 for 8/125 but that was at a dealership 2 hours and change away, and I could roll it into my financing. So, I took the convenient one. But, you are 100% correct on your pricing.
     
  17. Jun 20, 2016 at 6:59 PM
    #37
    Manvan

    Manvan Well-Known Member

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    Waste of money. If I had the extra 3k I would rather put it towards the next trim level up.
     
  18. Jul 23, 2016 at 5:03 PM
    #38
    sorgon82

    sorgon82 wanna go for a rip bud

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    Anyone ever used their warranty for exterior paint coverage? Or did Toyota find a way out of it... I think I have clear coat issues
     
  19. Jul 23, 2016 at 8:39 PM
    #39
    Launch21v

    Launch21v Well-Known Member

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    I would really think it would depend on if there was a defect or if it was wear and tear. From what you're talking about it could be a warranty issue if the clear coat is bubbling
     
  20. Jul 24, 2016 at 4:37 AM
    #40
    DeadEyeWI

    DeadEyeWI Fight for your 2A right

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    USA Today reports less than 39% of Honda and Toyota owners ever actually USE their $$ extended factory warranty.
    Most recommend putting the premium in the BANK and not the manufacturer....

    There is a LONG thread about this already.
    My dealer quoted me $1500 for the warranty and their price was $678. (dont ask how I know this) - so I told them I was interested at $750 - he said NO, so I left.
     

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