Last of the online extended warranties appears to be gone?

[Ricomondo]

There was several threads about members buying extended warranty VSA's online and over the phone. Toyota appears to have definitively ended this. Appears there was still one holdout as of last month down south. While surfing another forum, I saw that corporate finally got to that person. I'm bummed as I was going to go to him for a warranty.I'll call around out here and see if I can get some better prices, but his for sure seemed to be really good. I sent an email to him, but have not heard back.

This was a quote from Toyota Nation on 11-24-15

"I got this message from T*** today:
"As of last Monday Toyota has stopped me from selling Toyota VSAs online. I will have another policy to offer very soon that will for sure save you some $$$$."

 

[4Rainier]

Call around to your local dealers. I was able to get a decent deal on a zero deductible Toyota platinum warranty by calling 4 dealers in Washington. I think it was 8 years/75k miles for $1050.

 

[BlackWorksInc]

Call around to your local dealers. I was able to get a decent deal on a zero deductible Toyota platinum warranty by calling 4 dealers in Washington. I think it was 8 years/75k miles for $1050.

Damn... I would shell that out for a Zero Deductible for that mileage/year duration, that's a damn good deal. Not surprised they are cracking down on that...

 

[4Rainier]

Damn... I would shell that out for a Zero Deductible for that mileage/year duration, that's a damn good deal. Not surprised they are cracking down on that...

Yeah, my finance guy seemed shocked. You just have to be ready to drive to another dealer to show them the VIN/mileage and they'll deal with you. I think it just has to be an in state dealer, that's all.

 

[tallnelyt]

Call around to your local dealers.

 

[Ricomondo]

Call around to your local dealers.

Will do. I'll report back with what I find. I almost think I'm gonna get hosed just because I'm close to Chicago; and what that comes higher prices on just about everything.

 

[1engineer]

What happened was threads like this that identified specific dealerships where a good deal could be had. This past year word got out and the dealers clamped down on "marketing" through the internet even if it was just word of mouth. Good prices are still out there but you will have to call or stop in to a dealership. Toyota didn't clamp down, their dealer network did. These extended warranties, especially for Toyota, are a cash cow. The dealers were seeing their customers going to other dealers.
Most dealers abide by the "High margin, low volume" plan when dealing with this type of warranty. Some dealers switched to the "Low margin, high volume" plan and that pissed off a lot of other dealers.

You guys know you can deal on this warranty just like you deal on a car right?

Best technique:
Bundle. If you are trading, determine what you think would be a fair offer for your vehicle. Next, determine what you think you be a good price for the new vehicle. Determine the difference between the two.
Next, if you want an extended warranty, figure out the price you want to pay for it. Now add the warranty price to the difference between the two vehicles. Now you are ready.
When it's time to talk price, simply tell the guy you will trade for "X" difference and that includes an extended warranty. He will blink, go to another room, consult his superiors and they will go to work trying to figure out how or if they can meet or counter your offer. This way, it does not really matter what exactly your trade is worth or how much they knocked off the list or even what the extended warranty cost. All that matters is the difference. You actually have to do a bit of homework before using this method and you have to be willing to counter so you will need a max and min number. I have bought 40 vehicles this way and always get a much better deal than when I try to get a specific price for a car. Good luck and think about this method.
Call around or better yet go visit a dealer.

 

[Deuskid]

What happened was threads like this that identified specific dealerships where a good deal could be had. This past year word got out and the dealers clamped down on "marketing" through the internet even if it was just word of mouth. Good prices are still out there but you will have to call or stop in to a dealership. Toyota didn't clamp down, their dealer network did. These extended warranties, especially for Toyota, are a cash cow. The dealers were seeing their customers going to other dealers.
Most dealers abide by the "High margin, low volume" plan when dealing with this type of warranty. Some dealers switched to the "Low margin, high volume" plan and that pissed off a lot of other dealers.

You guys know you can deal on this warranty just like you deal on a car right?

Best technique:
Bundle. If you are trading, determine what you think would be a fair offer for your vehicle. Next, determine what you think you be a good price for the new vehicle. Determine the difference between the two.
Next, if you want an extended warranty, figure out the price you want to pay for it. Now add the warranty price to the difference between the two vehicles. Now you are ready.
When it's time to talk price, simply tell the guy you will trade for "X" difference and that includes an extended warranty. He will blink, go to another room, consult his superiors and they will go to work trying to figure out how or if they can meet or counter your offer. This way, it does not really matter what exactly your trade is worth or how much they knocked off the list or even what the extended warranty cost. All that matters is the difference. You actually have to do a bit of homework before using this method and you have to be willing to counter so you will need a max and min number. I have bought 40 vehicles this way and always get a much better deal than when I try to get a specific price for a car. Good luck and think about this method.
Call around or better yet go visit a dealer.

And so would your technique be to simply have a 'low-high' range if you were not trading in anything? Something like $xx,xxx including extended warranty plus tax, title and registration, out the door?

 

[Ricomondo]

Mine is a new car, so I'll still call around and see what I can find. Haven't even taken delivery yet (should be this weekend) so maybe I can use the pricing to my advantage?

 

[BlackWorksInc]

[MENTION=66316]1engineer[/MENTION] This is the first I have heard of dealers selling Toyota "ExtraCare" Extended Warranties OUTSIDE of a new/used vehicle purchase. I actually was looking to renew my Toyota Extended Warranty that I got with my 4th gen when I bought it used because I had gotten beyond my money's worth (I could have used it recently when I had to reseal the transfer case ) and the Toyota dealership I bought the vehicle from said they only are offered with the purchase of a new and/or used Toyota vehicle; got the same line from my sales department as my Toyota dealership. I honestly would drop a grand for that 8yr/75k Platinum as it's relatively cheap insurance for my 120k 4Runner.

Though to be honest I can't see Toyota making too much money off that since the Extended Warranty would be covering TSBs, out of mileage/year CSPs, and repairs that would otherwise be customer pay on a high mileage vehicle and that means all that is coming out of Toyota's pocket. My claims for my 4th gen on my 3yr/36k Zero Deductible plan cost Toyota over 7 grand in parts, labor, and rentals for the legitimate issues my 4th gen experienced; I didn't even pay 1/4 of that for the plan itself.

 

[mcarey86]

How would an 8yr/75k warranty help you on a 120k old vehicle?

 

[1engineer]

New vehicle warranty but you have a certain time window to buy.

 

[1engineer]

And so would your technique be to simply have a 'low-high' range if you were not trading in anything? Something like $xx,xxx including extended warranty plus tax, title and registration, out the door?

Yes. This method is best if used before any price is discussed.

 

[BlackWorksInc]

How would an 8yr/75k warranty help you on a 120k old vehicle?

Well for example, my 3yr/36k extended warranty I purchased for my 4th gen when I got it at 86k covered the following with zero out of pocket and included a rental for the time I needed the brake booster replaced:

-Leaking CV Boots, rebooted with new factory boot kit on both front axles
-Front differential pinion bearing burned out, replaced with new complete 3rd member (rather uncommon on the V8 front diffs to be honest with you)
-Hydraulically assisted brake master cylinder assembly failed, replaced with new unit
-Lumbar motor failed, replaced with new unit
-Throttle Body was leaking coolant at the top of a freeze plug, replaced with new electronically controlled throttle body assembly
-New driveshaft due to "Clunking" (a known issue, but the TSB didn't appear until a year or two ago; automatically aging out '05 and older models the moment it came out. The issue was covered by the extended warranty due to the TSB)

Had I had the 8yr/75k warranty since mine 3yr/36k ended a year or two ago, it would have covered the leaking transfer-case actuator o-ring; which would have meant that the reseal I did on my transfercase a couple weeks back would have been done under warranty. It also would have probably covered the wheel bearings in the front I replaced due to growling/grinding noise.

You'd be surprised what gets covered under warranty/extended warranty if you read your policy and understand it. A lot of repairs a customer would pay out of pocket for because it's no longer covered under the Factory Warranty are not exactly "wear and tear", i.e. a leaking timing cover is something that is covered under factory warranty. But if that leak occurs outside of the 5yr/60k powertrain warranty, then you're stuck with the bill because the manufacturer fulfilled their contractual obligation; even if they have a TSB for the issue (usually the TSB will state what warranty coverage applies i.e. "repair covered under 3yr/36k bumper to bumper or 5yr/60k powertrain, ect.")

 

[mcarey86]

Huh.. I always thought the years/mileage was based on the date of the cars creation and/or mileage. For the most part. Assuming it's not some kind of dealer-warranty on a used car they are selling.

I didn't realize you could buy an 8 year 75K warranty, and it would cover a car that has 120K miles. I assumed that was an addition to the standard warrant, and would last for 8 years of the "cars life" or till the car had 75K miles.

 

[Inferno1]

Call around to your local dealers. I was able to get a decent deal on a zero deductible Toyota platinum warranty by calling 4 dealers in Washington. I think it was 8 years/75k miles for $1050.

That's not bad. I got 6 years 75k miles from USAA for 1150. Zero deductible as well

 

[Craigy]

Huh.. I always thought the years/mileage was based on the date of the cars creation and/or mileage. For the most part. Assuming it's not some kind of dealer-warranty on a used car they are selling.

I didn't realize you could buy an 8 year 75K warranty, and it would cover a car that has 120K miles. I assumed that was an addition to the standard warrant, and would last for 8 years of the "cars life" or till the car had 75K miles.

Depends on term of the warranty. You can buy aftermarket warranties with different terms.

Most factory warranties are like that. They start from the mileage when the car was originally sold. Not extra mileage onto an already out of warranty car.

 

[mcarey86]

And the warranties in this thread, at least in the OP, were factory extended warranties right?

 

[BlackWorksInc]

And the warranties in this thread, at least in the OP, were factory extended warranties right?

Yes, we're talking about factory extended warranties from Toyota. You usually get offered them when buying new or certified used. The platinum is almost bumper to bumper level of coverage, while gold doesn't usually cover a lot of electrical components. They usually apply from date of policy purchase.

 

[mcarey86]

Yes, we're talking about factory extended warranties from Toyota. You usually get offered them when buying new or certified used. The platinum is almost bumper to bumper level of coverage, while gold doesn't usually cover a lot of electrical components. They usually apply from date of policy purchase.

I've never heard of a factory warranty running from the date of policy purchase. It seems like all Toyota offers is contingent on total vehicle miles.