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Old 09-03-2021, 12:05 AM #1
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Extended Warranty on a New 5th Gen?
Hey all!

Picked up my 2021 Venture this week. Pretty pumped and loving it so far.

I opted to go with the 6 year 75k mile extended warranty through Toyota and have 30 days to cancel.

I was told that this warranty covers issues outside of manufacturers defects whereas the standard 3 year 36k warranty only covers defects.

I paid $1800 for the warranty.

So is this worth it? Should I just go with the standard 3/36?

I do plan on keeping the truck for a very long time. Thoughts?


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Old 09-03-2021, 12:17 AM #2
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If you're not comfortable replacing things and troubleshooting yourself it might be for you. Peace of mind is worth something too if you don't have time to fix stuff yourself.
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Old 09-03-2021, 01:25 AM #3
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It's not worth it to me. Reliability is why I bought another 4Runner. I had a '97 from new for 22+ years. The repairs needed in that time were less than $50.00.

I was a consumer car repair mechanic at one time, including at a Toyota dealer. So anything not covered by the standard Toyota warranty, I have the tools and experience to fix.

I'd put the $1800.00 into an account that accrues interest, or some low-risk stocks.

Then if there's ever any repair needed outside of the warranty, you have the money to cover it.

Know that these extended warranties are rarely needed on Toyota's. They're a great money-making scheme (scam).
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Old 09-03-2021, 01:37 AM #4
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Or just save this video haha

The car lawyer explains the Lemon Law - YouTube


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Old 09-03-2021, 03:10 PM #5
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With extended warranties - check to see what limitations and deductibles you would be responsible for per event.

With Toyota, you won’t really have any defects that arise past the first year.

Generally, not a good value. You still pay for maintenance items.

Invest the $1800 in something cool.
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Old 09-03-2021, 07:27 PM #6
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You can get that warranty for half that cost from a forum member. You can purchase it from any dealer. It's negotiable.

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Old 09-03-2021, 07:28 PM #7
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The thread is a few below this one.

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Old 09-03-2021, 07:48 PM #8
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You can buy cheaper from a dealer that's out of state. I will purchase one for my Runner because it came in handy on my Tacoma when I needed new leaf springs, headlights and my front windshield replaced all under TSBs. My Runner now has KDSS that doesn't have the best track record.
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Old 09-03-2021, 09:53 PM #9
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Cancel that warranty ASAP and call Earnhardt Toyota. You can get a Toyota extended warranty for 1/3 of what they charged you.
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Old 09-04-2021, 01:14 PM #10
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Quote:
Originally Posted by 02SE View Post
It's not worth it to me. Reliability is why I bought another 4Runner. I had a '97 from new for 22+ years. The repairs needed in that time were less than $50.00.
I have a ‘97 from new for 24 years now, and have spent hundreds on it keeping it on the road. 2 starters, radiator, fuel injector, AC compressor, rear axle seal, 2 master cylinders, blower motor. $50 seems incredible.
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Old 09-04-2021, 01:23 PM #11
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Your $$$ your choice but for what its worth....when we bought a 17 limited used got the longest one possible and its almost already paid for itself owning it for just over a year now with little stupid things. Door actuator x2 and the 3rd row cable switch.
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Old 09-04-2021, 01:30 PM #12
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I know this is a Toyota forum, but I’ve been following the thread and it just occurred to me to ask if anybody knows a great Nissan dealer to buy a Nissan warranty. My wife has a Murano, which is a ticking time bomb financially.

Thanks.
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Old 09-04-2021, 01:37 PM #13
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I bought a Toyota 7 year Platinum zero deductible from an out of state dealer for a way better price. It expired unused on my 2013 TE. I bought one for our 2018 Sienna too.

I felt there are too many computer/electronics items in new vehicles plus the normal mechanical components. We take a lot of out of area trips and did not want to risk having to pay for expensive repairs.
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Old 09-04-2021, 01:55 PM #14
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Double check warranty includes all electronics, including radio, navigation touch screen etc. You will most likely come out ahead by buying the extended warranty.
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Old 09-04-2021, 02:15 PM #15
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Extended Warranty on a New 5th Gen?
Getting an extended warranty on anything built during the pandemic is a solid idea, it’s just better if you don’t get ripped off in the process.


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