Extended Toyota warrantee

I just took delivery of a 2006 Tacoma 4x4 automatic last night. The dealer tried to sell me the Platinum Toyota extended warrantee (6 yrs/75K) for $1,575. I asked to think about it for awhile before accepting this coverage.

I usually keep my vehicles for 7-8 years so the time frame was OK for me. I'm just wondering if this cost is worth it or not. Does anyone else have any experiences with these things?

Thanks.

Sam

Reply to
Sam
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I just did a little checking and found that I can purchase this same (official Toyota) warrantee for as little as $750 online. Has anyone tried using these?

Sam

Reply to
Sam

When does the warranty begin? After the Toyota warranty runs out or concurrently with the Toyota warranty? I have 2 Toyota's and always thought the extended warranties were not worth the money.

Reply to
Tom in Macon

It supposedly kicks in after the initial 12 months, and extends it, so that you have full bumper-to-bumper protection for the whole 6 yrs./

75K mi.

As far as being worth it or not... that's why I asked. Of course one of the reasons I bought a Toyota was because of their reliability... unlike my old Dodge Ram. But anything mechanical can break. I guess its like buying insurance... its a gamble.

Sam

Reply to
Sam

My son bought a new Tacoma about 2 months ago and I went with him to do the bartering. The extended warrenties are negotiable. We got a genuine Toyota exta care 7yr. 100,000 mile warrenty for $1100 dollars. Make sure any warrenty you get is genuine Toyota warrenty, It says so on the paperwork.

Scott

Reply to
zonie

The ones I looked at were genuine Toyota warrantees. In fact, I mentioned the prices I was seeing online to my dealer and they decided to match the price. These folks must absolutely hate the Internet.

So, I can get it from my dealer for 1/2 price. Now my question still is: will getting this added "insurance" be worth the cost? How many people have needed to use it? If you don't use it, then its just money down the toilet.

Sam

Reply to
Sam

Sam wrote: snip

My guess is your question is too subjective as it's benefit will vary depending on each individual's circumstances. The insurance company has to have better odds than the purchasers or they couldn't stay in business, so from that perspective it's a bad investment. OTOH, if it gives you peace of mind, you can afford it and you think you just might be one of the people to have a major problem (Toyota's are one of the best made products available but they still have a problem occasionally) then it's a good investment. I'd suggest you weigh your circumstances, your wishes and follow that. Even if you never have to use a warranty and it satisfies all the other criterea it's not money down the toilet, it's a good investment. Just my 2 cents, Dave

Reply to
davidj92

The dealer makes money on the extended warranty, so statistically they're a net loss for the buyer.

IMHO, the most important question is: can you afford a major repair if you're on the wrong end of the dice roll? Personally, I keep a pretty big "oh shit" fund in the bank for life's curveballs, and don't bother with any non-required insurance. OTOH, if you're living from paycheck to paycheck, then the insurance is pretty much a requirement. You pays yer money, you takes yer choice...

Reply to
Andy Hill

My experience with the Toyota extended warrantee is that it is worth the peace of mind in Australia it is a total 5 year 100,000 Km my suggestion is to read the fine print, the print in mine was that the Ute had to be serviced at that dealership only and would be void if serviced anywhere else even another Toyota dealer, so beware. Joe

Reply to
Joe

1) These are legally not warranties. They are service contracts. They do not extend the factory warranty. They cover exactly what they say they cover in the contract. 2) What is the factory warranty? 3-years or 36,000 miles on just about everthing and 5-years or 60,000 miles on the drivetrain. The drivetrain has the most expensive parts, so you are actually buying coverage on these parts for just 2 more years or 15,000 more miles. 3) As already said, the so-called extended warranties are actually mechanical failure insurance policies. With any insurance, you save money if you can afford to pay for losses yourself. Of course, these contracts are priced to pay a commission to the salesman, a profit to the dealership, a profit to Toyota, and something left over to pay for repairs. 4) Toyotas are about the most reliable cars on the road. Not perfect, but far better than most other brands.

I'd keep the money in my bank account instead of in the saleman's, the dealership's, and Toyota Financial's banks.

Ken

Reply to
Ken Shelton

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