Extended warranty??

Is the extended Toyota care warranty worth the money? I have a 2019 Limited TRD. What is covered and what isn't?

 

It's a sucker bet. My wife and I have bought about 12 vehicles new over the years and kept them between 120k and 200k miles each. Not once would the extended warranty have paid for itself. You always find anecdotes from people who "won" buying an extended warranty but they're anomalies. If they paid out anything but rarely nobody would sell them. Nobody is selling extended warranties at a loss.

We buy Toyotas for the reliability. Why bet against it?

The last two new Toyotas I bought the salesman's pitch was if the head unit went out it would cost over $1500 to replace. My response was that I've never had a head unit fail but if it did I'd replace it for under $500 from Crutchfields with something that had Carplay and Android Auto because entune is the worst head unit on the market.

 

Got a lifetime engine and power train warranty when I purchased my truck. I guess they realize that most people don’t keep their vehicles for a long period of time. But I am keeping her until the wheels fall off so I guess I am not the normal customer.

 

I rolled the dice and didn’t get it. It was a hard sell to the point where I was getting annoyed. When I said I didn’t need that’s why I’m buying a Toyota, she went into this whole story about how Toyota doesn’t make all the parts and why do you think we only warranty it for 3 years? I didn’t buy it for my corolla either and came out on the winning side. My wife’s Tahoe on the other hand I wouldn’t dream of not buying it. The only time I’ve ever needed the extended warranty is on GM vehicles.

Another thing I learned is the price is negotiable. She came down almost 50% trying to get me to buy it. So if you do want it play hardball.

 

It’s a losing bet. Don’t waste your money.

 

It makes the warranty companies MONEY, just like insurance companies are in the business to make MONEY. I don't know about you, but I'm not contibuting anymore than is absolutely necessary to these companies. And, when was the last time a warranty came through for you? It's easier to remember the times it DIDN'T.

 

Dave Ramsey agrees;

https://www.youtube.com/watch?v=XKmb72JYGS0

 

i regret getting the extended warranty on my truck. Its good for another 12 months. its been a total waste of money. (this is a good thing!)
I did try and use it for a rear parking sensor that flakes out when it gets hot out, and they denied it because i had an after market head unit lol

 

Recent purchase of a 19 TRD Crew. Dealer include “Life Time” engine warranty...not the least bit worried about Toyota’s engine and/or powertrain. However, I did purchase an “Electronics” extended for piece of mind. Love this truck!

 

I have purchased one with every new vehicle I have ever bought. It had paid off every time. But this is my first Toyota. So time will tell.

 

I got one through usaa for my 2010. Paid around $2k for the longest plan they had. They ended up paying out over $4k before I cancelled it and got a partial refund and bought a 2018.

 

When I picked up my 2019 TRD Pro in May of this year, I purchased the extended 7 year Toyota Care warranty for like $1400. It sounded like a good deal at the time. Now that I look back I wonder if I should have stood my ground and skipped it?

 

I bought my two brand new Toyotas having researched their reliability, and chose them because the proven track record of reliability makes an extended warranty unnecessary.

Now, if I bought a new VW, Buick, Jeep, or Dodge... I would pony up for the warranty (‘cause i’d probably need it). Spoiler alert: I wouldn’t buy any of those vehicles.

 

I came from a Dodge Ram 2500 where I luckily had the extended warranty and got good use of it. I finally gave up on the Ram and moved over to Toyota. I bought the extended warranty just because of all the problems I had with the Dodge (it definitely paid for itself). With the Tundra I haven't used it and probably won't need to, but I got a decent deal on it so it is what it is...

 

I had one on my 2015 Tacoma. Had it 2 years and just traded it in for my Tundra. The warranty company sent me a check for $600 with in a week for the unused portion. I didnt bother buying one for the Tundra. Had one on my first 2007 Tacoma and never used it in 10 years.

 

I get extended warranties with every cari buy from a dealer. It has always paid off.

Edit: But this is my first Toyota!

 

You should invest in lottery tickets, being such a statistical anomaly.

 

I bought two including my new pro.

Just insurance to me I guess.

I never used them

 

The sales person gets a generous cut of the extended warranty cost. It's pure, fast money for them.

I've bought six (I think) new Toyotas in the last 34 years and never once got the extended warranty PUSHED on me. And have NEVER had an occurrence where it would have come into play.

You've made a good decision.

 

They wouldn’t offer it if they didn’t make good money on it. And honestly; if you take care of your vehicle and do the regular maintenance, you shouldn’t really have any real issues with it.

 

If you get it for a good deal, and you would appreciate the piece of mind then go for it. I was offered the platinum whatever warranty for $1000 when i purchased my truck. I cancelled it almost a year after and i got my money back after careful thought.

 

When I bought my Tacoma the finance guy pulled the "we have a service area what do you think we do out there". I should have said "repair Chevy's?. He pulled every trick in the book. Even offered a lower interest rate. I asked would you have offered that rate regardless. He said "oh yeah". Flat out freakin lie. Then he pulled would it be worth $10/month. I said for that price yes. When I got to work I examined the paperwork and it was really more than $10/month. He pulled a fast one with rate . I called the sales director who was handling the whole deal and told him to have my old truck ready and the deal was off. He was pissed. He got it all straightened out. Finance guy was whining it is was funded. Director just told him to fix it. When I bought the Tundra I told the finance dudes "no hard sell on warranty or I am leaving". They did not even mention it but tried to add a $600 dealer fee. I just said give me the keys back to my Tacoma. They removed it after some whining. Finance is where the real fun starts.

 

Thanks for all the replies...lots of food for thought!!

 

Slightly off topic: https://qr.ae/TWyv65

 

I bought my 2018 used, the dealership said it was a “loaner” and had about 7k miles on it. I argued with them, blah blah blah and voila lowest price for the truck. Then went to the finance guy who wanted me to buy the extended warranty. I decided against it so he offered it at a lower price. I again decided against it. They then said that they would “throw it in at the agreed upon price”. So basically they reduced the price of the truck enough to cover the cost of the warranty. Why? All I can figure is that they must get one heck of a kick-back on selling the warranties! Regardless, I wound up with one.

 

I skipped out on getting an extended warranty with my '13 - because of Toyota's famed reliability, and my experience with a 2005 4Runner. Then my passenger side Cam tower started leaking at 14,000 miles. They fixed it under the normal warranty. I called up Toyota corporate and complained a bit about the Cam tower leak, and they gave me a 100,000 mile, 7-year warranty for free. I am glad that they did - because my driver side Cam tower started leaking fairly recently - outside of the normal warranty period - but within the extended warranty realm.

 

I just purchased the platinum from the source listed elsewhere in this forum at a price less than my local dealer offers it Here is a link which shows everything it covers and the exclusions:

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

The salesmen at the dealer I purchased my Tundra from do not offer it because they don't get a commission. It is in the realm of the F&I manager.

Any time you buy insurance it is a gamble. They are betting you won't need it and you are betting you will. Even life insurance. You know you will die, but they are figuring the premiums you pay until you die will be more than the payout. (I realize it is more complicated than that.)

I am on my 13th Toyota and all have lasted well into 200K before selling them and for the most part the only issues I've had are starters, batteries, and alternators. My Avalon lost a transmission seal which was a couple hundred dollars. On the flip side, my BMW had a $1400 oil pan leak, my 300ZX lost a $1600 computer and $400 mass air flow sensor and I have a $2300 rear seal job coming up on my 2010 AWD Lexus with 120k on it. (Evidently, for that model, they don't have a rebuild kit, you have to replace the unit.)

In any event, a single major repair for any electronic or mechanical system will probably cost more than what the warranty cost.

 

Here is another post on the subject:

https://www.tundras.com/threads/extended-warranty.52889/

Here is what is not covered with the Platinum Plan:

 

They're not going to cover my fuel cell hydrogen tank if it breaks? WTF?

 

I got the warranty. I was so up in the air about getting it. I kinda wish I wouldn't have got it. I won't put the mileage on my truck as most people. Its not a daily driver. Time will tell if I waisted my money.