Toyota Warranty

In the coming months I will be buying my first new truck. I have always bought used in the past which included two different Jeep models and a 2005 2wheel drive Tacoma. I have my sights set on a 2016 Tacoma TRD Sport 4dr SB 4X4 loaded. I have saved quite a bit for this purchase and today was contemplating extended warranty's. I decided since I will be putting about 12K down to not get Gap insurance as i had initially thought. With a good size down payment it just doesn't make a lot of sense. But what have you all bought in the past when it comes to extended warranty's? With a new engine and the new transmission do you think it would be a good idea on the new Tacomas?

 

If it were me on the first year of a new refresh I would definitely warranty up. This forum is usually split fairly down the middle with "it's a Toyota, extended warranty isn't needed," and "if you want a warranty, buy a warranty."

IMO, "it's a Toyota" means little in the event of catastrophic failure. I have a 7 year 125k mile on my truck, and it's arguably one of the most reliable configs.

 

Statistically speaking the extended warranties are a waste of $. If you are going to do it research non-dealer options for sure and also talk to your auto insurer. If I recall USAA and State Farm both have offerings and you can probably get a better deal anywhere but the dealer. Go for one that covers just catastrophe's not nickel and dime stuff since they all have deductibles as well. And if you do buy it use the hell out of it if needed.

 

Exactly.
Toyota (or 3rd party) makes tons of money on these extended warranties so mathematically speaking they aren't worth it.

 

If it was a 2015, warranty is a waste.

Being a brand new 2016, I myself wouldn't get one, but I can see where the argument could be made.

 

When we bought our '14 Baja, the finance guy tried to sell us the extended warranty for about $1600 and I thought about it for a second. After we declined he immediately came back with a price that was about $800. I'm now thinking this is a scam. After we declined the 2nd time the finance guy actually got pissed and was rude and tried to rush us through the rest of the deal and get us out of his office.

That being said - I still think about purchasing an extended warranty. I didn't on my last 2 vehicles and it worked out well.

 

They all come with the 3 year/36k miles which should get you through any major issues with the new truck. The extended warranties are basically reverse lottery. If they didn't make money on warranties they wouldn't be selling them.

You also don't have to buy the extended warranty when you buy the vehicle. As long as you are still covered by the factory 3/36 warranty you can buy an extended.

edit: I forgot the power train is 5/60. the 3/36 is the bumper to bumper.

 

He was pissed because he probably gets commission off any sold extended warranties. He had no right to be pissed, and he should just kill himself if he got pissed at customers for not buying something that wasn't mandatory.

 

Thanks man. Let's just say that things elevated to a level of yelling cause me and my wife weren't having it. In the end the finance guy came out and apologized and tried to make nice. Total ass. The only reason we did the deal is they were the only dealer in the state that had the truck I wanted and the '14 Baja's were slim pickings everywhere else as it was getting close to the '15's hitting the lots.

 

At least he apologized, but still not cool of that finance guy. Let's hope you and your wife don't run into him again

 

Too bad it was after the fact. I was gonna suggest the same thing, but then I read the part where the finance guy apologized.

Sometimes you can't help but to empathize a little, these salespeople get shit pay and are under lots of pressure to sell and sell big. At the same time, you'd think they should try other jobs that'd be less hateful and dehumanizing.

 

I sit there and read every document they hand me before I sign. The guys get pissed but I don't care. The only after-option I/we have ever bought was a dead-man system on our Civic. They took my wife for 760 dollars for that but I couldn't tell her no for that one.

We financed it and 30 days later they sold the loan to Alaska Federal Credit Union and never told us. The dealer said they would send us an initial bill for the first payment and never did. They said they put that on AFCU to send an initial payment bill but they had no time to do so before 30 days. They charged us a late fee and THE DEALER called us to say we were going into default on the loan. I laughed. No initial payment information and we go into default after 31 days. My wife got pissed and we drove there on a Saturday and gave the dealer a check and made them overnight it to Alaska so we wouldn't be late. What a shit fest. The dealer also filed the registration 60 days after the sale... idiots

 

^^ this - know what you are signing.

Love to do it if I get a speeding ticket too. Especially in summer in Southern AZ while the cop bakes and waits for me to sign. had one get so pissed off once when the temp was 105F that he took the pad, scribbled on the ticket and told me he'd see me in court. I think that was on the third time I read the thing ... f&^%$ took 60 minutes in his AC to write I figured I could take 60 minutes to read it while he stood there.

 

You beat the "heat" with real heat

 

^^ best advice for getting out of the stupid finance guy's office fast! Bonus.

 

I will not. I can't afford it or more don't want to. I'd rather spend that money on mods.

If there is a problem with the new bits of the truck large scale, Toyota takes care of it anyways.

They make money off these things which means more people don't use them than do.

 

Yeah I'm almost tempted to get the extended warranty for my '16 but I'm not sure I can bring myself too.

 

that is because the finance guys make a big commission on all the extras that they can sell. They are really just salesmen that know how to operate a computer and run credit checks. I told the last one I dealt with that when he started to push extended warranties I was turning my back. I did and it did not faze him he rattled on for quite a while.

 

A few years back the wife and I bought a Prius for her to go to work and do errands. At the time her job was a 50 mile 2 way commute. So Prius saved us on gas BIG TIME! The Prius was used, not CPO. The finance guy thought he was slick when he offered us a 36 months/36,000 mile bumper to bumper warranty for $1,000. I brought it down to $700. He figured easy money. NOPE! The Prius although in great shape mechanically, it had some minor interior cosmetic stuff. Rear View mirror was loose, the seat belt guard on the driver side would come off, you know things of that nature. Well, I took it in for everything, never had anything denied because I had that warranty. I even got free oil changes for those 36,000 miles. I made sure I got my $700 worth in fixes. I'm sure it went over. Now I knew from the get go that I was going to use the CRAP out of that warranty on purpose. They must have figured they would never see me in there for anything other than oil changes. If it were to have been a new car, I most certainly would not have bought the warranty plan. So sometimes its worth it.

 

If you have the $, it's peace of mind, but yeah, you probably won't need it.