[Dealer extra warranty] - keep it or cancel?

[gordonf]

So, finally I picked my TRD ORP
The dealer I get 4Runner gave me lifetime drive-train warranty for free [good] but also imposed "extra" warranty [bad], but cancellation policy is really flexible - I have 60 days to decide whether I want to keep it [good].

So I would like to grab some collective wisdom - should I keep it or not?

This "extra" warranty is good for 10 years/100 000 miles. It is effective nation-wide, not only in one particular dealership. Deductible is 100$ per repair. I paid for it $2600.
It covers following subsystems : cooling, steering, brakes, electrical, fuel, air conditioner, suspension.

Separately - Engine, Transmission, Transfer case, Drive axles are covered by free lifetyme warranty so not covered by this "extra" one.

So, I posted questions in the poll. Essentially - is it worth it or just cancel?
If I cancel, free powertrain warranty will still remain in place, so good here.

 

[nondescriptive123]

I would cancel and put that 2600 in an index fund. I bet you you will never need it but if you do you will have money to pay for it. Odds say its not a good deal, otherwise they wouldn't offer it.

 

[Tuco S.]

I would cancel and apply the refund to the loan (if you have one) so you aren't paying interest on it. And cancel GAP if they sold you that too. Waste of $.

 

[JLTD]

You have one of the top 3 most reliable vehicles. If it doesn't break in 3/36 it'll be good for another 64k miles.

Cancel.

 

[fkheath]

As others have said, cancel the extra warranty.

But I would caution you about the "lifetime power train warranty". What are the provisions of that? All the lifetime power train warranties I have seen require you to get ALL service, repairs, and add on accessories from the selling dealer, no where else. Example: what if you are traveling cross country and you come due for scheduled maintenance. if you go to another dealer or quick lube place, the lifetime power train warranty is automatically cancelled. Just be aware of that. Remember, the salesman will tell you anything; it behooves you to read the fine print.

`

 

[Birddog1911]

Seeing as I just brought home my TRD OR, I'm wondering about the reliability and replacement costs of so much of the new electronics on these vehicles, and whether the extended warranty would be worth it for that. Though, it seems perhaps not?

 

[Sundy]

Cancel it. If you want it you can get for a better price if you find the thread Gamester runs and doesn't have a $100 deductible.

I got a 5yr/125K for a price that was hard to pass on. I drive about 25-30K a year so the shorter term helped drive down the price substantially.

 

[gordonf]

Thank you for help!
Looks like I've gathered more than consensus here .
Will go ahead and cancel it.

 

[Charles Bronson]

Cancel it. These trucks are incredibly reliable and really haven't changed much at all in the last 10 years. Yes, the head unit in the 2020+ models is a whopping $2,400 new from Toyota; however, the head unit is under warranty for the next three years. If it does happen to die outside of warranty, it will be very easy to pickup a used on for $500. Install is a breeze (30 minutes to an hour depending on skill level).

As for other expensive items on the truck, it's pretty easy, basic, and accessible stuff. The 4runner also doesn't have direct injection which saves on potential maintenance costs like failed high pressure DI injectors, high pressure fuel pumps, and routine cleaning of the intake valves.