Debating if an extended warranty is worth it....

[big51810321]

Hi all,

Wondering if I should increase my budget to include an extended warranty for the 4Runner I'll be buying NEW in a couple of months?

What kind of repairs/claims have you guys had and "justified" spending the extra cash for the extended warranty?

Up here is Quebec, extended warranties can easily get to 3K$ and more....

Obviously I'm going to be buying one of the most reliable trucks on the market, but the "extended warranty" thread is pretty long on this forum...

 

[BobsTrail]

I bought a 7 year Toyota Platinum zero deductible that will expire in September this year. It was an early production 2013 delivered in 2012. With all the computer control I thought it was a safe thing to do.

I have not had any problems or needed any repairs in 61K miles.
It has seen some rough off-road trails, snow and sand dunes. No rattles, no noise, no problems.

I did not pay the dealer's crazy price, I bought from another dealer for less than half.

In October we bought a 2018 Sienna XLE AWD and again I bought the warranty due to all the electronics. Hope it works out like the 4Runner.

We are a two Toyota family, one all Japanese and the other Japanese/American.

 

[msp]

Hi all,

Wondering if I should increase my budget to include an extended warranty for the 4Runner I'll be buying NEW in a couple of months?

What kind of repairs/claims have you guys had and "justified" spending the extra cash for the extended warranty?

Up here is Quebec, extended warranties can easily get to 3K$ and more....

Obviously I'm going to be buying one of the most reliable trucks on the market, but the "extended warranty" thread is pretty long on this forum...

It's not worth it. Just put the $3k in the bank and save it for any repairs if you're a worrier.

 

[nglayton]

Sadly, like Bob did above, I bought the extended warranty due to all the electronics in my 2011 trail. I also got it for way less than $3k, it barely made a mark on the monthly payment so I figured why not?

Now 8 years later, I kick myself about it because I didn't need it once. Not a single time. No electronics failures, no mechanical failures either.

Save the $3k in a CD or or bond or something and you'll be way farther ahead.

Also think about how long you lan on keeping the 4R, I think the average length of ownership I see on this board is about 3 years....I hate giving stuff away that I paid for to the next guy with little to no compensation.

 

[big51810321]

Sadly, like Bob did above, I bought the extended warranty due to all the electronics in my 2011 trail. I also got it for way less than $3k, it barely made a mark on the monthly payment so I figured why not?

Now 8 years later, I kick myself about it because I didn't need it once. Not a single time. No electronics failures, no mechanical failures either.

Save the $3k in a CD or or bond or something and you'll be way farther ahead.

Also think about how long you lan on keeping the 4R, I think the average length of ownership I see on this board is about 3 years....I hate giving stuff away that I paid for to the next guy with little to no compensation.

The length of ownership is definitely a factor that I considered, but considering that this is pretty much my dream truck, chances are my kid will be taking it over in 20 years....

 

[Greybeardviking]

Sadly, like Bob did above, I bought the extended warranty due to all the electronics in my 2011 trail. I also got it for way less than $3k, it barely made a mark on the monthly payment so I figured why not?

Now 8 years later, I kick myself about it because I didn't need it once. Not a single time. No electronics failures, no mechanical failures either.

Save the $3k in a CD or or bond or something and you'll be way farther ahead.

Also think about how long you plan on keeping the 4R, I think the average length of ownership I see on this pboard is about 3 years....I hate giving stuff away that I paid for to the next guy with little to no compensation.

I believe in the saying "Id rather have it and not need it instead of needing it and not having it"'

 

[03_4x4Runner]

I generally do not but extended warranties but I got my extended warranty near the end of my 3 year warranty for $795 for the 8 year/80k Platinum through this forum. Toyota just replaced my xreas suspension on my Limited. It would have cost $3310. Granted without the warranty I would have just put Bilstiens on it but I got the dealer to install the spacer lift I wanted at the same time so I am happy and still have 3 years left on it. Since this is my only vehicle and I am getting old enough to not like working on cars anymore it has been worth it.

 

[nglayton]

I believe in the saying "Id rather have it and not need it instead of needing it and not having it"'

I feel the same way exactly....only in my case, I'm talking about $3K cash, not a warranty.

 

[CavPro]

I got my extended warranty near the end of my 3 year warranty for $795 for the 8 year/80k Platinum through this forum.

This. Why; 1) overlap coverage 2) finance it?

 

[03_4x4Runner]

This. Why; 1) overlap coverage 2) finance it?

I did not have overlap coverage and I did not finance it.

 

[mrblah]

Extended warrantees aren’t typically worth it.

 

[CavPro]

I did not have overlap coverage and I did not finance it.

I agreed with your post. The comments weren't directed at you, they were directed at anyone who was considering buying the extended warranty when they buy new.