Extended Warranty on a 2007 4Runner...

[mattb2003]

We are about to purchase a 2007 4Runner 4x4 v6 with 66,000 miles on it. Just wanted to get some opinions on an extended warranty we were offered by our credit union. They want $1230 for the warranty (no deductible) and covers everything except basic wear and tear items. It also covers hotel stay should you break down more than 100 miles from home and includes roadside assistance.

My wife may be going back to school in a year, so we'll be down to one income. We are leaning toward not getting the warranty as our family has owned a few Toyotas in the past and haven't had major issues. However, with my wife going back to school, it would be nice to not have to pay out of pocket should something major go wrong. The warranty is good for 3 years or 100,000 total miles.

My question is, does anyone think this is worth it? I know Toyota continues to excel in the reliability category, however, I also know that the newer vehicles (and especially 4wd) are more complex than the cars we've owned in the past.

Any input would be appreciated and thanks in advance for the help!

 

[ALLEGRO]

Hard to guide you here as we really have no idea what shape the T4R is in, and just as we say NO, it will let you down.

But, Toyota's have a great record, and especially those assembled in Japan. I think that the last Consumer Reports survey found that a 5 year old Toyota had less things go wrong than a new GM.

I have an 07, did not purchase the warranty, not really worried about it.

Good Luck

 

[pmdata]

I have an 07, did not purchase the warranty, not really worried about it.

Ditto. Almost, but no. If someone else had it before me though...

$1200 seems steep. A $500 or even a $1000 deductible may drop the price a good bit.

 

[ran]

No problems with mine, but only 12,000 miles on it.

__________
2007 SE Titanium V6 4x4

 

[MikesToy]

I haven't used my 100K warranty since new. I now have 102K miles so warranty expired. :crybaby: But my insurance (GEICO) will pick up the tab in case something major breaks (engine, tranny, differential) with a $500 deductible.

 

[marked]

That price seems steep. I passed up one for much less when I bought my '07 two years ago with 37,000 miles on it. It's always a crap shoot with these things and I decided to keep my money and just pay for whatever comes my way.

Ed

 

[Nuke]

I'm a big advocate AGAINST extended warranties. IMO, Toyotas in general are extremly reliable and trouble-free. I've owned 6 Toyotas; 2 still on the road with one of those 2 fairly new) and have probably racked up just about 1,000,000 miles with no serious (over $400) repair bill on ANY of them. Preventive maintenance is the key and may cost a few dollars but it's money well spent.

If you're worried, put that $1230 into a CD or other interest bearing account and use it if needed. I'll bet that you'll have all of it plus interest whenever you trade up to your next T4R.

 

[chaz]

:iagree:

 

[zimm]

Rip off. Just keep a grand in the old savings account in case something comes up. Chances of an over $1200 repair that would have been covered under warranty are pretty slim.

4runner's are stone reliable.

 

[mattb2003]

Thanks all - appreciate the responses. I think we'll just go without the warranty and put the cash in savings. Hopefully it will work out! If not, then it may be a consideration for next time...

 

[MikesToy]

I haven't used my 100K warranty since new. I now have 102K miles so warranty expired. :crybaby: But my insurance (GEICO) will pick up the tab in case something major breaks (engine, tranny, differential) with a $500 deductible.

That price seems steep. I passed up one for much less when I bought my '07 two years ago with 37,000 miles on it. It's always a crap shoot with these things and I decided to keep my money and just pay for whatever comes my way.

I put this way. If anything major happens to my rig (engine, tranny, differential) regardless of how many miles or how long i have my rig, it'll only cost me $500.

 

[Ilovesnow]

I put this way. If anything major happens to my rig (engine, tranny, differential) regardless of how many miles or how long i have my rig, it'll only cost me $500.

Hey Mike, I was just curious - what kind of coverage is this? Does it have a specific name or is it specific to your insurance company?

I worked for 3 years as a claims representative (recently - 2007-2010) and know that mechanical wear/tear/breakdown is specifically excluded under collision/comprehensive coverage (at least where I worked - and this is a generalization for auto insurance).

P.S. - I am just trying to help here and/or gain some information about a product that I am not aware of!

 

[weifert]

in my experience, the extended warrantees typically dont cover all that one might think is covered. Before dropping that much I'd really dig through the warrantee to make sure you understand what you're buying. Good chance you'll find out that there are tons of potential issues that are not covered.

 

[DexTech]

I never buy extended warranty on anything. Every extended warranty agreement I've read excludes all the stuff the sales brochure talks about. I once told a salesman "I'll sign your brochure as the agreement, but I won't sign your multi page legalese contract"

In my mind it's just another battle to fight when they decline to cover your repair under the warranty.

Keep your money and use it to fund your self-insured account, that kind of money will pay for a lot of repairs.

 

[gm350reratliff]

I didn't go for the extended warranty on the 4runner. 69k miles and (knock on wood) I have never needed it.

When I bought my '04 Z71 silverado, in 04, I did purchase the extended warranty. I have over 120k miles on that truck and have never needed it. I look back and wonder why in the hell did I do that!? I usually do all the repair work myself anyway. I did have a front diff seal go out when the truck was new so I took it to the dealer under gm's warranty. The dealer screwed the diff so bad when replacing the seal a whole new diff had to be ordered. 3 weeks without my truck. I had 4 loaners in that time and they all had problems with various components. During that same time my '92 Z71 had the same seal go out. I rebuilt that diff in a day and was back on the road.

 

[M.A.R]

2007

I bought a 2007 4runner SR5 4x4 about 4 months ago with 93k on it and I have put on about 8k with no problems so far.

I have bought 2 extended warranties before and usually they screw you over. I am not sure how Toyota does but I know GM is horrible with it and I had to fight over the other a few times too.

So I agree with these guys its not worth the money.

 

[charlier180]

I spent th first 35 months I owned my 4Runner thinking about an extended warranty. Back then there was a dealer in western Pennsylvania who offered a killer price n the Toyota Platinum Warranty here on the forum. Since that price was WAY under what my dealer quoted (1/3 the price) I bought it.

Since then, I have had three repairs under that warranty which has more than paid for it (to the tune of $500+ more than I paid for it). For me, the extended warranty has been to my advantage (mainly due to the price of the warranty). With about 1 year left on this warranty it might continue to pay for itself. Time will tell.

IMHO, whether or not the warranty is worth it or not depends on the individual circumstances (ie condition & age of the vehicle, cost of the warranty, deductible, etc.). I suggest the OP read through the "Problems & Warranty Issues" part of this forum for issues related to the 4th Gen 4Runner.
See what the issues are and what they cost to repair. Then see what your thoughts are regarding the cost/benefit of the extended warranty you are considering.

Good Luck.

 

[mako88sb]

Hi. First post here. Just bought a 2007 with 48000km. I should of checked this out beforehand and did get the extended warranty. I will be picking it up in a couple days. Can I cancel the extra warranty or is it too late now?

 

[marked]

There is usually a rescission period when you can cancel it. That's what I did.

 

[mako88sb]

Thanks. I'll look into it. If not, I guess live and learn. I don't usually consider extended warranties but the guy kept emphasizing how much more complex anything from 2005 onward is in regards to repairs, I guess I fell for his line.