Extended Warranty

Wait until the vehicle has closer to 36k miles on it. No sense in forward financing a warranty until the factory warranty is closer to ending and the prices will not change on the warranty from 5 miles to 35,000 miles. If you still feel you need the warranty after 30k miles, go buy one. Otherwise you're paying for two or three years and 10s of thousands of miles of coverage that you dont need.

 

i was going to do that but instead i decided to get it right away and good thing i was one of the last to get the discounted warranty from out of state.........

 

One thing I found out about the genuine Toyota extended warranties. They ALWAYS go back to your original purchase date to start the clock.

So, you can wait 2 years to buy a 7 year extended, but it's still only getting you 4 extra years on top of the 3yr standard.

This is confirmed through 3 different Toyota Financial departments, so argue with them if you disagree lol

 

newbie question....................

I've never bought a new vehicle before. If I were to buy a new taco today, then after market mod it with a lift and bigger tires, would this void the warranty?

 

"I understand how you feel, and a lot of my customers have felt the same way. Until they found out it's $4,600 to replace the ECU in the event water finds it's way into the unit. Do you drive in the rain sir? (and so on and so forth with scary repair stories)"

 

Fine but even so, why put the money out there now if you don't have to... you could be doing other more profitable things with that money in the near term rather than giving Toyota an interest free loan for the next 2 to 3 yrs.

 

All depends, if you are financing the extended warranty into the cost of the new vehicle, maybe it makes sense. If you are buying it later, sure.. Invest it, save it, do whatever and decide at your 3yr/36K point if you want to pay the cost, unknowing what that will be.. Depends entirely on what the person who is buying the new vehicle can afford.

Here is the best rates I found so far:
Vehicle: 2012 – 2016 Toyota Tacoma 4x4 w/ 36,000 miles or less. Toyota Extra Care, Platinum coverage with $0 deductible:
5 yr / 60K - $550.00
6 yr / 75K - $645.00
6 yr / 100K - $895.00
7 yr / 75K - $715.00
7 yr / 100K - $1025.00
7 yr / 125K - $1250.00
8 yr / 75K - $835.00
8 yr / 100K - $1145.00
8 yr / 125K - $1505.00

 

Those rates are kind of high compared to other credit unions ... mine is giving 0.99% for 36 months ... Which is 100% why I took the loan instead of paying cash. Just like you said, put the $ into investments and overall you still clear more even after paying interest on the loan.

 

The only reason to get an extended warranty is if you can make dealer throw it in as your last bargaining chip. Then go back in a few days and demand the cash payout due upon early cancellation (limited to 7 days in fine print.)

I did this about 30 years ago at a dealership on a used Jeep. I wanted $500 more discount than they were willing to deal. I got them to throw in warranty, then returned two days later demanding $850 cancellation value. They were rather pissed when I told them it was their fault they wouldn't drop the $500 so it ended up costing them $850.

 

One of the few advantages is you do get a loaner as part of the VSC agreement.

 

nice

 

I bought one on mine. I went back and forth on it. The ONLY reason I did was a new vehicle with new parts. Mainly the electrical parts going bad scare me. That said. You can canx it any time and get most of you money back (prorated). Has anyone looked into getting one from the dealer in hays kansas? Rumor is its about the best price around for one

 

Well did some research on this Troy and I found a friend of mine actually just bought coverage from him a little over a year ago and from what I can see is the prices I got from the guy I mentioned above wasn't too far off at current year prices for the T3. I placed below Troys quotes from about a year ago. I was priced 7yrs@125K 0 deductible Plat. for 1350.0 So Troy is probably good, but for those who live in NH and just want to have more local options, contact John.

Vehicle: 2012 – 2016 (non-Hybrid) w/ 36,000 miles or less.

Toyota Extra Care, Platinum coverage with $0 deductible:
6 yr / 75K - $645.00
6 yr / 100K - $895.00
6 yr / 125K - $1140.00
7 yr / 75K - $715.00
7 yr / 100K - $1025.00
7 yr / 125K - $1250.00
8 yr / 75K - $835.00
8 yr / 100K - $1145.00
8 yr / 125K - $1505.00

 

So i guess I got bent over and paid $2400 for 7yr/100,00k. What should I do? Is it possible to cancel and buy from another dealer even though it was included in the total financed or should I call the dealer and see if they will match or at least get close to the above prices? Appreciate any and all suggestions!

 

this

 

You can call and canx it or any gap insurance purchased thru the dealer any time you want. They will send a check to who ever you financed the vehicle thru. You can shop around and see who/if any you want an extended warranty with. Not sure where you live, but if give the toyota/ford ship in Hayes kansas a call. I've been told they have the best prices around and people come from everywhere to buy from them.

I am not affiliated with them. I was just told this from some local toyota guys

 

Do have a name of anyone in particular at the Hays dealership? I assume that is the Lewis Toyota of Hays.

 

Cancel it and research your options. They tried to get me to buy the
same one for about 2k. Nope!

 

just remember if its part of the finance, the money will go back to the lien holder.

if you get a new one, it will be out of your pocket which is a good thing in my opinion. when I buy a new Toyota, I get a refund if its not used and put the refund into buying a new one. so my outlay is usually only about 1/2 the cost of new one due to the refund from the previous unused VSA.

 

Yes Lewis toyota/ford. And no I don't have a name. I haven't had the time to look into the claims