Should I buy the extended warranty?

I just bought the 7/100k extended warranty at 35k miles because of a few things that have broke 2 times already in the 35k miles i have had the truck. I got mine for $15 per month which I think is worth it because the porblems I have had already were over $2k. I have a very good service dept. at my local dealer which helped my decision. TSB's are no problem, they do not even question it. Good luck with your decision.

 

I turned the extended warranty down. Warranty guy was super nice while trying to sell me on it, but after figuring out how adamant I was about not purchasing it, he went in to a different room to type up the remainder of the paperwork and never said another word to me, lol. Sales people are the worst!
Anyway, I'm very glad I turned it down. I'm out of warranty now and havent had any problems for the past 8 months that I've been. No need to reiterate whats already been said. Just dont waste your money!!!

 

I bought the warranty on my 2011 taco, about $5 a month extra. Bumper to bumper. I don't plan on mod'ing. I had the extended warranty on a Silverado I had a couple years ago and used it a a bunch of times for problems in the steering column, an electrical issue, etc. Depending on the price and the deductible (if any) I say go for it.

 

If you want to see exactly what is covered under the Toyota extended plans, you can check that out here. There are different levels of the plan with different deductibles, so make sure you know which one your dealer is offering. One thing to keep in mind is that the plan is transferrable, so if you decide to sell later on down the road that can certainly be something that can help resale value. FWIW, I just got a 2009 CC 4x4 with 7.5K miles and got the platinum plan ($50 deductible). I paid $950 for it. My thought is a couple bucks a month on the payment are worth the peace of mind, but as you can see there are a lot of different opinions on whether or not it is worth it.

 

I see what you all are saying about the plan not being a real "warranty" - it's the Toyota Extra Care Platinum "Vehicle Service Agreement" offered by Toyota Financial Services. I know the guy is trying to close me here, but really... $1,000 for 4 more years?! I've got to believe that would save me money?

 

there is a guy on here that sells them for cheaper...do a search on here or (toyotanation) and you'll find his deals.. If you don't put on high miles its a deal IMHO, but if you put on 25k a year like me..and I'm already past 50k its a hard sell as I roll the dice and trade around 100k in 2 years.
Edit..
pm sent with details

http://www.toyotanation.com/forum/showthread.php?t=209848 $950

 

x2
I bought from Troy right before the existing 3/36 expired on 2006 due to several issues during the initial mfg coverage.
Its the first one I ever bought for a toyota truck.
And my first truck bought was in 1987.
I have already used it too on a non-drivetrain issue that wouldn't have normally been covered.
I figured too if I was going to resell it could get transferred to the new owner or if I trade (not a chance) would cash it in pro-rated.
The price from Troy was very good & as Reg said its paid for itself with me. Truck has 50k.

 

im restin a little easier. thanx guys

 

I have about 25k on my 09 now. I plan on buying the 7yr/125k mile warranty/service agreement from Troy. In my opinion, if I use the service ONE time, I will be getting my money back. My prior vehicle had to have some front end work done at 100k miles. I dropped $1500 on that repair. My daughter had a transmission put in her truck at 76K miles. $2000 for that repair. So you all do what you think works for you,...but I will be buying the extended service/warranty protection.

 

I went in today and did it - I bought the 7/100 warranty. It'll cost me an extra $18/mo, but it's nice to know that it'll be [mostly] covered right up until I get my next vehicle. Thanks for the opinions, everyone!

 

I have the extended warranty I was at 37k miles

I'm about to have my TSB done for leafs dont know if the 100k mile helped or not but I told them whats the point of my F***ING warranty if it doesnt cover anything, also made a friendly call to toyota customer service.

I still debate on canceling it, once I start throwing some heavy mods on it, it might get canceled dunno yet.

I got the platinum.

 

I have the extended warranty I was at 37k miles

I'm about to have my TSB done for leafs dont know if the 100k mile helped or not but I told them whats the point of my F***ING warranty if it doesnt cover anything, also made a friendly call to toyota customer service.

I still debate on canceling it, once I start throwing some heavy mods on it, it might get canceled dunno yet.

I got the platinum.

 

I would look into the type of warranty. I'm not sure that they differ but I have the 7 year and the dealer told me that if I do not use it that I will get full refund of the amount paid. He also highlighted it in the fine print. Make sure they have that in the contract. Then I would say its definitely worth it. Pick and choose your claims. If it looks as though financially, its worth to put a claim, then do it, otherwise pay out of pocket (which you would do anyways if you didnt get the warranty). That way it keeps the warranty unused and unless you have a large claim you will get your money back when the warranty expires. Consult with the dealership for details. I have it all in writing so I'm set.....

 

I had a bad experience with Toyota and my so called warranty. Before I modified the truck, I had the drivers side front bilstein shock collaspe (Dropping the front down almost onto the tire)(See Photo below). I had about 26,000 miles on it and I was on a main (Flat) road when it happened. went stright to dealer, both servive guys came out and looked at it. They both said it was covered. 5 minutes later the service manager came out and first thing out of his mouth was "Where did you buy it?" (I bought it about 35 miles outside of my town at another dealership for $3500 less than my local dealer.) He then said I must have hit something and he would not cover it. I told him I did not hit anything. He said "NO, Not covering it". I contacted Toyota Motor Co. they said they would have a district manager out to look at it within 3 days. Well, 5 days later I called and asked what happened to their District Manager? They said he agreed with local service manager. I said HOW IS THAT POSSIBLE AS THE TRUCK IS AT MY HOUSE! they said I could file for arrbitration through them. This took up a lot of my time and was a total waste. Toyota does not stand by their so called warranties! Plain as that! NOTE: I did buy a replacement shock and installed it myself, but I just did not trust these shocks at all, so I bought the Old Man Emu shocks/suspension. (SEE PHOTOS BELOW OF THE DIFFERENCE) I have been Off-Roading a lot and it now has 84,000 miles and I have not had any problems with this suspension.
BROKEN BILSTEIN:

Got this off Toyota's website:

Old Man Emu vs. Bilstein:




COVERAGES

Every Toyota Car, Truck and SUV is built to exceptional standards. And that's not idle boasting. We back it up with these Limited Warranty Coverages:Basic36 months/36,000 miles (whichever comes first) (all components other than normal wear and maintenance items). Powertrain60 months/60,000 miles (whichever comes first) (engine, transmission/transaxle, front-wheel drive, rear-wheel drive, seatbelts and airbags).Rust-Through60 months/unlimited miles (corrosion perforation of sheet metal).EmissionsCoverages vary under Federal and California regulations. Refer to applicable Owner's Warranty Information booklet for details.AccessoriesFor accessories purchased at time of the new vehicle purchase, the Toyota Accessory Warranty coverage is in effect for 36 months or 36,000 miles (whichever comes first) from the vehicle's in-service date, which is the same coverage as the Basic coverage of the Toyota New Vehicle Limited Warranty.

For dealer-installed accessories purchased after the new vehicle purchase, the coverage is 12 months or 12,000 miles (whichever comes first) from the date the accessory was installed on the vehicle, or the remainder of the above 36 months or 36,000 miles Basic coverage from the vehicle's in-service date, whichever provides greater coverage, with the exception of car covers. Car covers are warranted for 12 months from the date of purchase and do not assume any coverage under the Toyota New Vehicle Limited Warranty.

For customer (non-dealer)-installed accessories purchased after the new vehicle purchase, the coverage is 12 months or 12,000 miles (whichever comes first), from the purchase date of the accessory.

You may be eligible for transportation assistance if it’s necessary that your vehicle be kept overnight for repairs covered under warranty. Please see your authorized Toyota dealership for further details.Hybrid-Related Component CoverageHybrid-related components for hybrid vehicles are covered for 8 years/100,000 miles. The HV battery may have longer coverage under emissions warranty. Refer to applicable Owner's Warranty Information booklet for details.For complete details about Toyota's warranties, please refer to the applicable Owner's Warranty Information booklet or see your Toyota dealer.

 

x2 that question..

1080 to protect for another year or 40K miles. You could fix a lot of stuff for a thousand bucks.

The way I look at this: Toyota's are really solid reliable vehicles, especially if you take care of them. So buying that warranty is a gamble where you're betting that it's actually a piece of crap and needs it. (If you really think that why buy Toyota?) Also, like Vegas...the odds are vastly in their favor else they wouldn't offer these deals, intuitively at least you MUST know that.

My guess is this is your first or maybe one of your first new car buys. Take that thousand dollars invest it instead, keep it in case you need it in that one year or 40K miles you'd have had the insurance. Yeah, it's a gamble still but the odds are in YOUR favor now.

Do the same for every car you buy and... you know where this is going. Because the odds are in YOUR favor you WILL come out way ahead (if you've invested wisely) EVEN if you DO have a repair that makes you tap the money!

Over the decades I've bought maybe 6 cars, both new AND used that I could have bought an extended warranty and never once had a repair instance where it would have helped. I've had repairs...but they were all either over 100k miles or would have been called 'wear' parts and not covered (clutch, CV joint boots, brakes).

Just something to think on...

 

...And thats exactly how they sell a $400 extended warranty for $960!

 

Eurosport nailed it!

 

does anyone know if there are different policies?....or if im thinking correctly?...cause it makes sense to get it....

 

This is NOT a warranty. It is a service agreement. And the link is to a colorful brochure, not the agreement. The things it says are covered are for illustrative purposes only.. it's a sales pitch. Here, let me quote the FINE PRINT from this sales flyer:

"Coverage is subject to exclusions and limitations set forth in the Vehicle Service Agreement."

"Note: The benefits and covered operations stated here are subject to change or may vary slightly based upon the purchase date of the Agreement."

So, they are basically saying that anything you read in this flyer may or may not be true. Conveniently the actual agreement is not available for review. It is 6 pages long BTW, and they'll hand it over to you to review at the dealership. No way you'll read all those pages and no way you'll be able to see the things they've slipped in the contract to get them out of paying almost every claim.

Oh, I can't resist.. this is another quote from that colorful brochure:

"All manufacturer-original equipment parts installed by the manufacturer or a Toyota Dealer are covered for mechanical failures, unless otherwise excluded."

Did you catch that.. unless otherwise excluded". So every manufacturer installed part is covered unless excluded. The exclusions are all detailed on the contract, the brochure only lists a few of them.

Anyway, part of the dealer sales pitch on this will be the 100% refund if you don't use the "warranty", and that they only sell the Platinum coverage and that's because it's so good and covers everything and blah blah blah. It's all scripted. The "warranty" company - which is NOT Toyota BTW sends sales representatives to the dealerships to train these finance guys how to push this warranty, what to say, etc. It's all a well rehearsed script.

 

Well colour me stupid