Extended Warranty? 2015 4Runner limited

[Baba Booey]

I almost purchased an extended warranty for my '15 4Runner but decided against it, which would have been the first extended warranty I ever purchased. I looked at it through the lens of all my future vehicle purchases and decided against it. I may come to regret it, but the odds are in my favor. That's how they make so much money selling these service agreements.

I had a '97 Subaru that I drove to 257,000 miles. I still have an '06 4Runner with almost 170,000 miles, and I still own an '08 Honda Civic with just over 200,000 miles. Thinking back, I do not believe that I had a major repair on any of these vehicles that would have been covered under an extended service agreement out to 125k miles. I've had some significant repairs (e.g. head gasket on '06 4Runner and A/C compressor in Civic), but they were all well beyond the 125k mile limit.

If I had purchased the extended service agreement for the three vehicles mentioned plus the '15 4Runner, I would have spent approximately $4,000 to $5,000 on extended service agreements without having received anything in return. Based on this history, I've decided to not buy these warranties on any of my vehicle purchases. Things could change if my luck gets worse, but I'm hoping it won't.

 

[Hapa DC5]

Like most people here I've seen both sides of the extended warranty issue. Some make their money back fairly quickly on a big repair while others never use it.

I have one for my wife's 2013 Prius Four. It's the Toyota Platinum 7/125k plan. It gives her peace of mind especially given the fact she puts close to 20k per year on the car. Considering the Prius is one of the most reliable vehicles ever, I don't think it was the wisest purchase, but happy wife happy life.

My 2010 G37S is another factory extended warranty purchase, I've owned the car for nearly 6 years and close to 60k miles without issue. Now my wife is on my case about selling the car (it sits in our driveway a lot since I enjoy driving my T4R or my repmobile so much lol). Good thing is I am almost certain I can refund it for a pro-rated or even the full amount since I've never used it.

The '15 4Runner I just picked up over Labor Day Weekend will not have an extended warranty. I'll just roll the dice and we plan to keep her Prius and this truck for 10 years. If I put $100 away towards an emergency fund in a savings account I'll have $8400 before interest is accrued over the course of 7 years for any big repairs that may occur down the road.

Here's where I think these extended warranties come in handy. I work for Porsche N.A so I've had my fair share of repmobiles. Mostly Cayenne's and Panameras which I love, but not something I want in the long term. If you plan on keeping high end European cars it definitely worth your while to "invest" in a warranty. Otherwise out of pocket repair costs are not a cheap proposition.

A Toyota truck, meh not so much. It's not like you're barebacking a truck stop hooker here.

 

[NoDak]

Like most people here I've seen both sides of the extended warranty issue. Some make their money back fairly quickly on a big repair while others never use it.

I have one for my wife's 2013 Prius Four. It's the Toyota Platinum 7/125k plan. It gives her peace of mind especially given the fact she puts close to 20k per year on the car. Considering the Prius is one of the most reliable vehicles ever, I don't think it was the wisest purchase, but happy wife happy life.

My 2010 G37S is another factory extended warranty purchase, I've owned the car for nearly 6 years and close to 60k miles without issue. Now my wife is on my case about selling the car (it sits in our driveway a lot since I enjoy driving my T4R or my repmobile so much lol). Good thing is I am almost certain I can refund it for a pro-rated or even the full amount since I've never used it.

The '15 4Runner I just picked up over Labor Day Weekend will not have an extended warranty. I'll just roll the dice and we plan to keep her Prius and this truck for 10 years. If I put $100 away towards an emergency fund in a savings account I'll have $8400 before interest is accrued over the course of 7 years for any big repairs that may occur down the road.

Here's where I think these extended warranties come in handy. I work for Porsche N.A so I've had my fair share of repmobiles. Mostly Cayenne's and Panameras which I love, but not something I want in the long term. If you plan on keeping high end European cars it definitely worth your while to "invest" in a warranty. Otherwise out of pocket repair costs are not a cheap proposition.

A Toyota truck, meh not so much. It's not like you're barebacking a truck stop hooker here.

just depends on how you look at it.

my 7/125 cost $1350.

that comes out to $192/yr for coverage compared to your $1200 year. I bet I could find better uses of the other $1000 like mods

 

[Baba Booey]

just depends on how you look at it.

my 7/125 cost $1350.

that comes out to $192/yr for coverage compared to your $1200 year. I bet I could find better uses of the other $1000 like mods

The factory bumper-to-bumper warranty covers the first three years or 36K; and so you actually paid $1350 for four years of additional coverage, which works out to $337 per year.

Admittedly, the calculation could change depending upon how many miles you drive per year.

Also, I am not sure how you can compare Hapa DC5 putting $1,200 per year in a savings account with you having $192 ($337) in warranty costs and no money in the savings account, and then somehow believe that this frees up an extra $1,000 for mods....

 

[INSW20]

"if you can turn a wrench, you can fix your car."

i guess it helps that i'm handy with a wrench and DVOM, but my Tacoma has just under 200,000 miles on it, and the only thing that comes to mind where i would have benefited from having an extended warranty is head gasket replacement. that said, head gasket started leaking at 190,000 miles, so......... it still would have been money down the toilet to buy the warranty. :ranger:

 

[crashq]

I purchased the Toyota Care (8yrs? 75k) extended warranty for my 2012 SR5. It was $1600 as a standalone product, however, I negotiated a rate reduction to 2.9% if I bought the warranty. The net increase worked out to be $600.

I have not had any mechanical issues so far (at 70k), but I have had three things that needed replacement.

1) - My hatchback struts both failed. They were $175 each for new factory struts. Total repair cost would have been a little over $400.

2) - The felt gasket under the hatchback spoiler either fell out or was never installed. As a result, the hatchback wore off the paint where it contacts the hatchback. This was deemed as cosmetic and not covered. the kit costs~$195 and requires two people to install.

3) The sunglass holder warped a little under the hot summer sun. This caused teh guide pin to not seat fully in its groove, The result was a damaged groove and the sunglass holder was constantly popping open. Surprisingly, Toyota does not sell the sunglass holder assembly by itself (even though it is only held in the overhead console by two screws. The whole overhead console had to be replaced at a cost of $1440. Surprisingly, Toyota covered this. Why was this covered and not the hatcback spoiler gasket? This was not deemed as cosmetic????????.

I don't know whether I could have found a replacement sunglass holder elsewhere. The $600 investment paid off for me. The $1600 would have paid off if I could not find the sunglass holder elsewhere. Living with it constantly popping open would have driven me crazy ( but not crazy enough to pay $1440 for it).

 

[canteen boy]

I just picked up a CPO 15 Limited 4x4 and was wondering if anyone knew someone in California that would discount the Platinum VSA. All the out of state guys I've contacted can't do it anymore.

 

[Miguelon]

Here is the deal I got from a forum member here and I purchased one for my 2014 Limited 4-runner and my 2012 Highlander.

Let me know if anyone wants the contact info for these Certified Platinum Toyota warranties...

The prices below are old so they may be off a little.......Just a FYI I got the 6 year 100K for less than listed below.
I'd just tell him which one your interested in and see what he quotes you.

T3-TOYOTA 4 RUNNER 2WD, 4RUNNER 4X4,
4 YEAR 65,000 MILES $409.00
4 YEAR 100,000 MILES $529.00,
4 YEAR 125,000 MILES $659.00

5 YEAR 80,000 MILES $474.00,
5 YEAR 100,000 MILES $629.00
5 YEAR 125,000 MILES $799.00

6 YEAR 75,000 MILES $509.00,
6 YEAR 100,000 MILES $749.00
6 YEARS 125,000 MILES $1,019.00

7 YEARS 75,000 MILES $594.00
7 YEAR 100,000 MILES $889.00
7 YEARS 125,000 MILES $1,169.00

8 YEAR 75,000 MILES $709.00
8 YEARS 100,000 MILES $1,039.00
8 YEAR 125,000 MILES $1,424.00

the one I highlighted I purchased for less than $500

Id like the contact info pls

 

[ic0517]

Somewhere on this forum I already posted the dealer snuck an extended warranty in on me.

Won't say names, it would be a GROSS injustice if they couldn't defend themselves here in the northern suburbs of Chicago.

 

[Miguelon]

Can anyone pls PM me with the contact details of a dealer that is offering a good deal on a warranty?

 

[gamester5]

Can anyone pls PM me with the contact details of a dealer that is offering a good deal on a warranty?

PM Sent

 

[spawn]

If im buying a domestic brand or Korean brand and plans on keeping them for another 8-10 years (if they survive) i will buy an extended warranty. But, youre buying a toyota 4runner, engine of this generation will last a lifetime.

 

[Tortule]

It really depends on the warranty being offered. What does the warranty being offered to you cover and what does it cost. It may be worth it for you it may not.

 

[Navydivedoc]

Pm

I'm about to purchase an ordered 2016 TE. I'd really appreciate a PM with contact info and best pricing, especially dealers east of the Mississippi if I have to physically go there. Thanks for everyone's help here and in so many other threads...hugely helpful.

 

[jwkilgore]

Extended warranties are almost always a waste of money. That's why dealers push them so hard; it's good money for them. Yes, it is possible that your ECU could eat itself at 45,000 miles, but you're buying a Toyota not a Jeep. I did use an extended warranty we bought back on a 1996 T-Bird, but the recovered cost was well under what we paid for the warranty.

I got one on my 2011 SR5, but it wasn't my original choice. After getting an awesome deal (under dealer invoice), the internet sales manager sent me to finance. I had pre-approved financing available from my bank, but the finance guy had to sign off on the purchase. I've never had a harder sell in my life. We're talking time-share-pitch-after-a-free-meal sales pitch. I finally agreed to it because 1) he dropped it from a 5-year to a 4-year warranty (one year past manuf.) at a reduced price, 2) if I bought it he was willing to give excellent interest rates on the loan (a little over 1%), and 3) there was a clause in the deal such that if I didn't use it I could submit the original paperwork for a full refund.

The "buy-back" clause is a good deal for them because 1) it's a heck of a sales gimmick... get your money back; 2) the odds that something small will happen in the normal 2-year term are decent, and once you use it for anything the buy-back option is gone; and 3) you have to keep up with the original paperwork for X years and remember to return it within a set time of the expiration.

My Toyota remained solid for the first 4 years of ownership, and I somehow managed to keep up with the paperwork through a divorce, remarriage, and move. I submitted for the refund a few weeks after it expired and got a full refund (less $50) about a month later. It's the only extended warranty I've ever purchased where I saved money on the deal, and that was only because of the lowered interest rate.

 

[Loadedpocketz]

A Toyota truck, meh not so much. It's not like you're barebacking a truck stop hooker here.

That made me snort my beer. LOL.

I declined the extended warranties on my 2016 TEP. I came out a Mazda 6 that I had zero issues in six years with the recommended maintenance. These Japanese rigs last forever. Especially for the stuff that an extended warranty would actually cover.

 

[polkhigh]

PM Sent

Do you mind sending me the dealer info too? TIA!

 

[T5RUNNER]

Can anyone pls PM me with the contact details of a dealer that is offering a good deal on a warranty?

There is no such thing as a good deal on an extended warranty from a dealer. They love to sell them because they add huge mark-ups. Extended warranties in general are always a bad bet. You are paying for the average cost of repair, plus all the business costs of the warranty company, plus their profit margin. If you are determined to have one, your car insurance company normally offers them at a fraction of the cost of the dealer, and you get the benefit of paying as you go instead of a lump sum up front.

 

[gamester5]

Do you mind sending me the dealer info too? TIA!

PM sent

 

[Mike135802]

[MENTION=108754]gamester5[/MENTION] - could you please send me the info as well. Thanks!