Extended warranty??

I think the 3rd party warranties are better ... mine has already paid off ... and it's only like 17 bucks a month [but I got the 'family' deal cuz my son works there]. I think it's 27 bucks a month, normally. So much electronics these days ... something is bound to quit working, I figure.

 

That's why I got the warranty. I only average about 700 miles a month on mine. It is only used for trips about once or twice a month and only has about 11,000 miles now after owning the truck for 16 months. By the time the 24mo/24,000 bumper to bumper warranty expires, I'll only have about 16,000 miles on it and by the time the 36 month power train warranty has expired I'll only have about 26,000 miles on it. Not enough driving to thoroughly vette the truck if there is something that will fail based on use.

I figure depending on mileage or time, whichever comes first, the warranty is either costing me about $16/mo or 2 cents/mile. For peace of mind, I figure it's worth it.

Another point to consider. In the event something does fail, your Toyota will be towed to a Toyota service center. Most towing company contracted with insurance companies or auto clubs will only tow to the closest certified mechanic with 25 miles. I would prefer a Toyota tech vs a general mechanic working on my truck.

I was driving another foreign car and broke down near Yreka. No dealerships for my car around, only Ford and Honda. The manufacturer towed my car 100 miles to the closest dealership under their warranty. Auto club or insurance towing would have only towed me to the closest mechanic within 25 miles.

https://www.sc.toyotafinancial.com/web/tfs/pub/contents/vsa/TFS_VSA_Platinum_VSA_eBrochure.pdf

 

If you are the person that trades every 3 years or so then no the extended warranty is not for you, if you the person who keeps vehicles for longer lengths of time and mileage then the extended warranty maybe something worth considering. Especially with all the electrical and computer parts in vehicles these days.

Why do dealers "push" for you to buy the extended warranties, simple its high margin for them, margin = profit. Like it or not they are there to make money, cant give away the store, at some point you need to make sales, comps, margins and turns.

I have only purchased 1 extended warranty in my life, it was for a 1988 chevy, damn glad I did, that was the biggest piece of shit I have ever owned, dear god I was so glad to get rid of that thing. Swore me off chevy ever since.

If you think you will keep the vehicle for a longer length and can negotiate a better price for a extended warranty then I would consider it.

 

your bank or credit union may offer you a better deal. I got my warranty super cheap through the credit union.

 

There are dealers out there that offer a lot better prices for a factory extended warranties then through your purchasing dealer when you buy your truck. You can also buy them any time before your 3yr/36,000 mile warranty is up. I bought one for my 2012 and will for my new 2019.

 

I bought one this time because it’s has paid off big time in the past ( another brand)
I figured it was worth a gamble

 

You can get the Toyota VSA warranty for basically cost. They come in many many flavors, but you need to buy while under your 3yr/36k mile range and you'll buy from out of state as well. Just remember that this extended warranty runs parallel with with your current warranty, not after it ends. Some of the term flavors that you can purchase are:

5yr/100k

5yr/125k

6yr/75k

6yr/100k

6yr/125k

7yr/75k

7yr/100k

7yr/125k

8yr/75k

8yr/100k

8yr/125k

9yr/100k

9yr/125k

10yr/100k

10yr/125k

 

I bought a 2012 F-150 and opted for the extended warranty (bought new). Just under 2.5 years later with 63,000 miles that $1800 warranty paid $8,700 for an engine replacement......so that one was in my favor. My first Tundra was totaled in July and I received a check for $2,600 which is what I paid for it. I did buy one on my current Tundra and depending on how this truck does will determine whether my next one will have one.

They can be had between $1,000 and $3,000 all day long, but it is a lot cheaper than if I would have had to pay for the engine in that F-150 out of pocket.

 

Just received the official Toyota paperwork today on my warranty and I did buy it through the person and dealer mentioned here in another state. Saved $500 over what my local dealer wanted.

Interesting to note, rental cars are only 5 days at $50/day per incident and overnight accommodations and meals are 5 nights at $100 per day for the entire contract. But 0 deductible on any covered repairs and towing to the closest Toyota dealership.

One major is the electronics. My extended factory bumper to bumper warranty on another brand specifically excluded the factory audio unit. This one looks like it covers it.

With so much electronics, cpu's, etc. one repair and the cost is covered.

 

An A/C compressor costs more than the extended warranty.

 

There are good companies and some not so. Also bank and credit union MBI (mechanical breakdown insurance) are with outside companies such as Assurant and American Bankers and the bank and credit unions are acting as brokers.

 

I bought it when I got the truck. Have 107k on it now and never needed it, would have been better soaking that cash in lighter fluid and tossing a match on it. They got me....