Extended Warranty (Toyota Extra Care)?

[GorillaSooner]

Finally purchased it today.

I got the 7yr/125k mi Platinum Warranty with $0 deductible for $1169 from Jerry Johnson from the Midwest Superstore in Hutchinson, KS (800)530-5789.

The price my dealer gave me was $2,826 for a 6yr/125k mi Platnium warranty with a $50 deductible... Thanks guys. Like I said earlier in the thread, I never even knew you could by one from someone other than the dealer you bought the car from. Worked out great.

 

[36bound]

Guys, these warranties that Troy and Jerry are offering- are they actual Toyota, factory-backed warranties and not some fly-by-night aftermarket warranty? Does anyone know if these are honored in both the U.S. and Canada?

 

[chris360hawks]

Warranties are nothing more than back end profit for the dealers boys...99% of the time they are a waste of money. The existing powertrain warranty is plenty sufficient for anything that might happen...its a yota man!

 

[GorillaSooner]

Factory backed. Here is a link for a brochure:

http://www.toyotafinancial.com/consumer/ShowBinary/BEA%20Repository/tfs/en_US/document/TFS_Platinum.pdf

 

[36bound]

Chris360hawks,

I'm a firm believer in the value of extended warranties. My other toy is an '07 Jeep Wrangler that I put a lifetime bumper-to-bumper warranty on when I took delivery. Thus far my Jeep has been absolutely trouble free, but that's beside the point. Now that I own it free and clear there is tremendous satisfaction in knowing that virtually every component, large or small, is literally covered for as long as i own it.

When my wife and I purchased her Rav4, we put an 8 year/125,000 mile transferable warranty on it which allowed us to offer it for sale with a factory warranty that was more extensive than any warranty that even a dealer could offer on a comparable pre-owned Rav4. The net result is that we sold her vehicle for a price that allowed us to recoup the full cost of that warranty and made selling her vehicle stupid easy. In fact, it sold so quickly that we are now down to just the Jeep while we await the arrival of our 4R TE.

I submit that my experience with factory-backed warranties has been quite positive...and cost effective.

 

[Jaker]

Warranties are nothing more than back end profit for the dealers boys...99% of the time they are a waste of money. The existing powertrain warranty is plenty sufficient for anything that might happen...its a yota man!

$1,399 for 8 years and 125,000 miles of peace of mind is a small price to pay.

I had the extended warranty on a 3rd Gen 4Runner and it paid for itself 3x over. A couple U-Joint problems, power antenna failures, and oil leaks later, I was damn happy it cost me $0 to fix.

 

[TTown]

my power antenna is already broken on my 2010!

:hatsoff:

 

[b4runner]

Being a numbers guy, I tend to avoid extended warranties. After all, it isn't really 7 years and 125,000 miles because the new car power train (which is what I would worry about) warranty is 5 years and 60,000 miles. If I drive 15,000 a year, then I'll hit the 60K in 4 years, so now I would be paying $1350 up-front for a 45,000 mile 3 year warranty. That's one reason they're so inexpensive. The other is that these machines are so well built (If you ever want a laugh, look at the prices for these on a Range Rover). I bought my 4th gen at 50,000 miles and traded it in at 130,000 miles and had no issues that would have been covered by such a warranty. So, pick your poison, I guess. Now watch, after writing this, my entire engine and transmission will probably implode at 60,001 miles...

 

[GorillaSooner]

My concern is zero about the powertrain. If that doesn't make it to 125k, I'll never own another Toyota... My last 3 vehicles (Pontiac Grand Prix, Ford Expedition, and Jeep Grand Cherokee) all had over 125k when I got rid of them and I never had an issue with any of their powertrains.

My issue, and the reason I bought the warranty is the AC unit (I live in Oklahoma and it gets hot here), power window motors (4 doors and the big back window), fuel guages (seen those stop working in other vehicles in the past and it is a $500+ fix), power seats, or even the occasional starter or alternator that go bad.

They could warranty the Powertrain for 100k mi and only have an issue about 5% of the time, but I'm sure they backed it down to 60 so it would be <1% the time there is issues. Shoot, for a year or 2 (when they thought they were going under), Jeep offered a lifetime powertrain warranty...

Odds are in their favor that noting will go wrong on this vehicle over the next 7yrs, and at the end of it I may say it was a waste of money and will never do it again, but in the event something bad does go wrong with the motor at 110k mi, or the power seat stops working at 37k mi, I will be glad I bought it. You are right on the numbers. This extended warranty means almost zero until I pass the 36k mark (it will pay for a rental car for 5 days or a hotel if I'm out of town). So, it is essentially a 4yr/89k mi additional warranty which when I crunched the numbers, made it worth it for me (I put a lot of miles on vehicles and will break then 36k mar easily in 2yrs, likely 1.5yrs).

 

[Jaker]

My concern is zero about the powertrain. If that doesn't make it to 125k, I'll never own another Toyota... My last 3 vehicles (Pontiac Grand Prix, Ford Expedition, and Jeep Grand Cherokee) all had over 125k when I got rid of them and I never had an issue with any of their powertrains.

My issue, and the reason I bought the warranty is the AC unit (I live in Oklahoma and it gets hot here), power window motors (4 doors and the big back window), fuel guages (seen those stop working in other vehicles in the past and it is a $500+ fix), power seats, or even the occasional starter or alternator that go bad.

They could warranty the Powertrain for 100k mi and only have an issue about 5% of the time, but I'm sure they backed it down to 60 so it would be <1% the time there is issues. Shoot, for a year or 2 (when they thought they were going under), Jeep offered a lifetime powertrain warranty...

Odds are in their favor that noting will go wrong on this vehicle over the next 7yrs, and at the end of it I may say it was a waste of money and will never do it again, but in the event something bad does go wrong with the motor at 110k mi, or the power seat stops working at 37k mi, I will be glad I bought it. You are right on the numbers. This extended warranty means almost zero until I pass the 36k mark (it will pay for a rental car for 5 days or a hotel if I'm out of town). So, it is essentially a 4yr/89k mi additional warranty which when I crunched the numbers, made it worth it for me (I put a lot of miles on vehicles and will break then 36k mar easily in 2yrs, likely 1.5yrs).

:iagree:

Couldn't have said it better myself.

 

[1engineer]

Here is my viewpoint, which is mostly fact with some opinion at the end:

1. Regarding extended warranties as a product - There must be a demand for a product with a potential for profit before a supply of product is developed. Econ 101. Once supply is developed and demand increases, competition insues with price differences and features.

2. All product is not equal though. If you own an inferior (as defined by warranty company) device then extended warranty price increases to cover cost. Please quote one for other vehicles and see the difference. Companies are NEVER going to intentionally lose money. The price you pay for a product like this asssures them of profit.

The above is fact. Now for my opinion:
If you buy a product that you are willing to pay 5-25% (depending on product) additional on list price for the manufacturer to fix if it breaks then you did not choose a good product in the first place. Before I buy anything I take into account possible repair costs and determine if the component (vehicle, lawn mower, etc) will withstand the duty cycle I will submit it to without breaking. If I determine it will not, then I cross that product off my list and evaluate a different product.
With that statement I am saying I will only buy a quality product, and quality is not cheap. I am willing to pay an additional cost up front so statistically speaking I will not incur an additional charge of money and time due to a breakdown. If I DO have a breakdown then I will pay to have it fixed. If it costs too much or breaks down too often, and I have maintained it to the manufacturer's specs, then I will berate myself for not choosing a quality product in the first place and will not buy that product again.

If I had bought an extended warranty on every vehicle we have owned it would have totalled up to be about $50,000.00. I have spent less than $4,000.00 total on repairs that were not covered by OEM warranty included with vehicle. Most of that was on the one Jeep I have owned. So, in the 32 years I have been buying vehicles I have saved enough to buy a complete vehicle by NOT buying extended warranties.

I understand the "piece of mind" feeling that some of you have by buying something like an extended warranty for "just in case" situations. I submit to you that the true "piece of mind" is choosing the vehicle correctly in the first place that will stastically not cost any additional money to operate. In my driveway right now I have a: Toyota 4Runner, a Toyota Rav4 (wifes), a Honda CRV (daughters) and a Subaru Impreza (sons). If you do some research up front, pay extra for a quality product, don't fall for gimmicks, maintain it and use it for what it was intended then you will come out ahead in the long run. Right now I am $46,000.00 ahead by my count.

 

[philsey]

^^^ Yer name s/b Brad.

check out the big brain on brad - YouTube

 

[philsey]

I understand the "piece of mind" feeling that some of you have by buying something like an extended warranty for "just in case" situations. I submit to you that the true "piece of mind" is choosing the vehicle correctly in the first place that will stastically not cost any additional money to operate. In my driveway right now I have a: Toyota 4Runner, a Toyota Rav4 (wifes), a Honda CRV (daughters) and a Subaru Impreza (sons). If you do some research up front, pay extra for a quality product, don't fall for gimmicks, maintain it and use it for what it was intended then you will come out ahead in the long run. Right now I am $46,000.00 ahead by my count.

I'd pay extra for a "piece" of your mind too.

 

[1engineer]

I'd pay extra for a "piece" of your mind too.

You wouldn't want it. It's a crazy place up there lol.

 

[bacci]

I told my sister to buy the extended warranty when she purchased her nissan. She scoffed a little bit but did get it. This week they had to replace her engine due to a leag they could not fix. WORTH EVERY PENNY

 

[lchizz]

purchasing extended warranty on used 5th gen?

Hey everyone,

I just picked up a 2010 Limited with 25k miles on it. It is still under powertrain for another 16 months or so, but of course the other warranty has lapsed.

Can I purchased Toyota extended coverage on this vehicle, and if so, where/who has the best rates?

Thanks

 

[NoDak]

don't think you can, its outside the 3yr/36k mile window.

 

[lchizz]

don't think you can, its outside the 3yr/36k mile window.

thats what I thought... oh well, at least I have another year+ of powertrain! If anyone has purchased an aftermarket in my situation, I'd love to hear about it..thanks

 

[NoDak]

now if you bought it CPO that will have a different set of rules. I know my daughter has a Toyota CPO on her 2009/30k corolla we just bought her. already got my money out of it since they had to replace the front cv joints/axles since they were out of spec by 1.5 inches. dreadful grinding noise in the cold turning left.


I know lexus cpo is nuts, 3yrs/100k from the day you bought it, but if you want to save money you can actually drop the cpo from a used lexus and save about 1-2k from the cost of the vehicle.