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Extended Warranty Help

Discussion in 'General Tundra Discussion' started by Harrell15, May 9, 2017.

  1. May 9, 2017 at 7:52 PM
    #1
    Harrell15

    Harrell15 [OP] New Member

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    Hi guys,
    I purchased a 2015 Tundra with 33K miles last week and got talked into the 7 year/100K mile bumper to bumper extended warranty for $1700. I just got the fine print documents in the mail today, and now I'm questioning the decision and debating on cancelling it. My truck was already a "Toyota certified used vehicle," so it already has a 12K mile bumper to bumper and 100K mile powertrain warranty. The finance guy sold me on the full coverage value, but I'm naive in that I didn't even realize extended warranty prices were negotiable until after I walked out of the dealership. Thoughts? Suggestions? I've gone back and forth on it, so any valuable advice is much appreciated. Thanks.
     
  2. May 9, 2017 at 7:59 PM
    #2
    ride2wheels

    ride2wheels New Member

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    $1700 isn't bad for piece of mind in my book.
     
  3. May 9, 2017 at 10:27 PM
    #3
    Coolhardy

    Coolhardy New Member

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    You don't need a 100k warranty if it's certified. This is a truck not a car and a Toyota not a Chevy. Save yourself $1700 or better spend it on mods.....
     
  4. May 9, 2017 at 10:43 PM
    #4
    T-Rex266

    T-Rex266 Independentoffroad who? That's cute. Staff Member

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  5. May 10, 2017 at 3:57 AM
    #5
    DVYota

    DVYota Snorked out mall crawler

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    my Co-worker had his alternator replaced for $1600 in his tundra... to me the $1700 isn't bad. I think I paid around $2,000 for mine, but mybtruck had 145,000 miles when I bought it. Peace of mind would worth it to me
     
    SouthBoundSteve likes this.
  6. May 10, 2017 at 4:27 AM
    #6
    NewImprovedRon

    NewImprovedRon Hey! Get off my grass!

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    You will get a lot of varying opinions on this subject. I got a 7 year warranty when I bought my truck new but I tend to keep a vehicle for a long time. To me, with all the electronics, etc., on vehicles today, it was worth the piece of mind. I suppose the real question here is could you have negotiated a better price on the warranty? Maybe and then again maybe not... $1700 is a little more than I paid for my 7 year warranty but my truck was new. I would keep the warranty and sleep just a little bit better at night...
     
    SouthBoundSteve and DVYota like this.
  7. May 10, 2017 at 5:17 AM
    #7
    Harrell15

    Harrell15 [OP] New Member

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    Thanks for the input. If I were to cancel the extended warranty from my current dealership and shop around for better rates, I'm assuming I would then have to pay cash in full for a warranty if I were to purchase another one, rather than being able to finance it into my payments?
     
  8. May 10, 2017 at 6:14 AM
    #8
    robie56

    robie56 New Member

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    I bought a 2011 crewmax Rock Warrior with 19,000 miles in April 2014. I now have 50,000 miles on it, so I average about 10,000 miles a year. I bought the extended warranty 5 year/ 75,000 miles. Thank god I did, in the 3 years I've owned the truck the lower control arms were replaced $1800. The cam tower gaskets were replaced $3100. And last month my rack and pinon blew a seal and chewed up the power steering pump, new rack and power steering pump $3300. These repairs would have been a big burden if I hadn't had the extended warranty. This has really shook my confidence in the Toyota brand also! The extended warranty has been worth every penny in my case!
     
    NewImprovedRon likes this.
  9. May 10, 2017 at 6:23 AM
    #9
    NewImprovedRon

    NewImprovedRon Hey! Get off my grass!

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    Yes that would be my thinking, unless you took out a new loan on your truck including the cost of the warranty so that you are making one payment. Of course, you would be getting your money back on the original warranty if it is refundable.
     
    ChucklesToy likes this.
  10. May 10, 2017 at 10:31 AM
    #10
    Harrell15

    Harrell15 [OP] New Member

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    Damn, that puts things in perspective. I guess I looked at it like my powertrain was already covered for 100K miles. But... like y'all said, there are so many electrical/computer/etc components that even if a few minor things go wrong, the warranty could be worth it. I also read that it's actually 8 years, 100K bumper to bumper, so 6 on top of my certified 2 year warranty, and I average less than 12K miles a year. I wonder about the potential fuss that will come with changing my own oil/fluids/etc. Anyone have any issues with the dealership over these things? Thanks again.
     
  11. May 10, 2017 at 10:36 AM
    #11
    NewImprovedRon

    NewImprovedRon Hey! Get off my grass!

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    I think all you have to do is keep a log of when you did maintenance and receipts for the oil, filters, etc., to prove that the maintenance was done.
     
    robie56 likes this.
  12. May 10, 2017 at 1:30 PM
    #12
    040Tundra

    040Tundra Teddy 2013-2019

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    A little of this and a little of that.
    Yes you would have to pay cash for it. Why not cancel it, shop around, then go back to the dealership and negotiate down?
     
  13. May 10, 2017 at 1:50 PM
    #13
    Harrell15

    Harrell15 [OP] New Member

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    That's worth a shot. I wasn't sure if I could go back and negotiate the same policy once signed.
     
  14. May 10, 2017 at 1:53 PM
    #14
    040Tundra

    040Tundra Teddy 2013-2019

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    A little of this and a little of that.
    You may not be able to but can you go to another dealer?

    There's always aftermarket warranties. Some of them, are better than what the dealership offers anyways.
     
  15. May 10, 2017 at 1:56 PM
    #15
    Harrell15

    Harrell15 [OP] New Member

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    I'm sure I could, but my original dealership may be the only one that could keep the warranty rolled into my payments to keep from paying cash in full. Then again, if I plan on refinancing with my bank anyway, then that might be an option.
     
  16. May 10, 2017 at 1:59 PM
    #16
    040Tundra

    040Tundra Teddy 2013-2019

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    A little of this and a little of that.
    Well if you cancel they're going to have to refund you the amount of the warranty. Not sure if they give you the $1700. or if they do something else. I would think since it is currently financed it's basically paid for to the dealership. I would think they'd just have to give you the money back, in the form of a check. But what do I know?
     
    NewImprovedRon likes this.
  17. May 10, 2017 at 2:14 PM
    #17
    robie56

    robie56 New Member

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    I change my own oil & filter, and it has never been an issue when needing warranty work. But like RowdyRon said I do keep receipts for oil, filters, and drain plug washers. also the date and mileage at the time. Gotta cover your a** !
     

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