Should I cancel my extended warranty?

[jdotlim]

I bought my 2007 Sport Edition with 82K back in January of this year. I got suckered into the extended warranty. The warranty I bought is Easy Care with the Total Care coverage. It cost about $2220, if I remember right, give or take a hundred. It covers 36,000 miles or 3 years, whatever comes first. And it covers everything, bumper to bumper. It also gives me reimbursement for rental, trip interruption, and towing. Here is the catch, as with any warranty. I would have to take it an ASE Certified mechanic for them to diagnose the problem, which I would pay out of pocket for the inspection fee. If they find that it falls under warranty, Easy Care would cover the fee, but I would still have to pay for $250 deductible.

I know these cars are built like tanks, and I haven't seen any 4th Gens with over 200K that has major problems. Other than the 03-05 having the head gasket problems.

I can still cancel it, and I am not under contract. And no penalties if I cancel. Should I cancel it?

Vehicle Service Contracts | EasyCare

What it doesn't cover:

 

[RUN-4-LIFE]

Hell no, purchased mine and the trucks needed 5 grand worth of repairs. I'm up 3 grand. Warrant cost with deductibles nearly 2k


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[jdotlim]

Hell no, purchased mine and the trucks needed 5 grand worth of repairs. I'm up 3 grand. Warrant cost with deductibles nearly 2k


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what year is your truck? and how many miles do you have? what went wrong at what miles?

 

[RUN-4-LIFE]

2007 SR5 V6 purchased with86k.. Transfer case needing rebuilding @88k... out of commission for two weeks, front differential leaking @110k, and CV boots needing replacing @110k.. Keep in mind, dealer labor murders the bill. For the boots and front axle seal alone it was 600 in labor.. Also getting a rental car helped push the total cost of things higher


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[jdotlim]

2007 SR5 V6 purchased with86k.. Transfer case needing rebuilding @88k... out of commission for two weeks, front differential leaking @110k, and CV boots needing replacing @110k.. Keep in mind, dealer labor murders the bill. For the boots and front axle seal alone it was 600 in labor.. Also getting a rental car helped push the total cost of things higher


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holy crap, thats a lot of work, so it was worth it for you, but did you check the history of the car before you bought it? did the previous owner do any maintenance? my car was worked on by the dealer all its life before I purchased it. water pump was changed at 60k along with the serpentine belt.

 

[RUN-4-LIFE]

holy crap, thats a lot of work, so it was worth it for you, but did you check the history of the car before you bought it? did the previous owner do any maintenance? my car was worked on by the dealer all its life before I purchased it. water pump was changed at 60k along with the serpentine belt.

It had a full car fax report. Always maintained at a dealer that reported. Every oil change... I just bought in on a whim. A lot of times it was taken in for problems but nothing was done. So I didn't want to get screwed. And very quickly did the extended warranty pay for it self.


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[Low-Tek]

I had the exact same thing on my 4th gen at under 90k miles. 4x4 actuator started leaking, $800 just in labor to fix it, CV axles were also shot. I bought it this way, the 1st owner was a moron, so that might have contributed.

I'd definitely keep the warranty!

holy crap, thats a lot of work, so it was worth it for you, but did you check the history of the car before you bought it? did the previous owner do any maintenance? my car was worked on by the dealer all its life before I purchased it. water pump was changed at 60k along with the serpentine belt.

 

[jdotlim]

It had a full car fax report. Always maintained at a dealer that reported. Every oil change... I just bought in on a whim. A lot of times it was taken in for problems but nothing was done. So I didn't want to get screwed. And very quickly did the extended warranty pay for it self.


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here is another thing though, I bought the truck lifted from the dealer (Bilstein 5100s and FJ Springs). I do not think they knew it was lifted because I bought it from a Mazda dealership (Someone traded it in for a Mazda...Why? IDK) What if its their word against mine that the "lift" caused the CV Boot to go out or this and that.

BTW, the shocks and springs were brand new when I bought them. Could not have more than 2-3k on them.

 

[jdotlim]

I had the exact same thing on my 4th gen at under 90k miles. 4x4 actuator started leaking, $800 just in labor to fix it, CV axles were also shot. I bought it this way, the 1st owner was a moron, so that might have contributed.

I'd definitely keep the warranty!

sorry for the noob questions, how would you know if the CV Axles are shot?

 

[Low-Tek]

Well if they are REALLY bad you will hear an awful clicking/popping noise when turning the wheels. If they are starting to go out you can look underneath the vehicle inspect the boots (the rubber "accordion" pieces that fit over the axle where it meets the wheel and where the cv connects to the shaft). They may be cracked, dry rotted, or torn open.

Or they could look fine but just be slinging grease all over. Mine weren't making any noise yet but they were leaking grease like crazy and starting to crack. The insides of the CV joints are filled with a grease. This grease is necessary to keep the CV joint lubricated. If it all leaks out, this will expose the inner pieces to road dirt, moisture, sand, etc which will cause the joints themselves to fail. Some people run them for a LONG time once they start leaking, but if the boots themselves are damaged its better to replace them. Some also say you can replace just the boots themselves, which you can, but the axles aren't that expensive, if you are gonna have it done, and you are at 100k or above, might as well just replace the entire axles. You can get them pretty cheap.

Just google "how to tell if my CV axles are bad" and you will find lots of resources.

sorry for the noob questions, how would you know if the CV Axles are shot?

 

[4OYOTER]

That sounds like a good deal and I would definitely keep it.
I paid $1600 for a 12month/12k mile warranty on my 08 V8 4x4 with 112k miles. Already had the transmission and alternator replaced so I'm already ahead. The $100 deductible sucks , I wouldn't have to pay it If I went to the selling dealer but they are 3 hours away.

The finance guy who sold it to me said the warranty company doesn't care if I put a lift on, but the fine print says a lift will void the WHOLE warranty. Which sucks because my Xreas is leaking, but not covered under the warranty. And if I'm going to replace Xreas I want to put a lift on. Looks like I'll be waiting until the warranty expires.

 

[jdotlim]

Well if they are REALLY bad you will hear an awful clicking/popping noise when turning the wheels. If they are starting to go out you can look underneath the vehicle inspect the boots (the rubber "accordion" pieces that fit over the axle where it meets the wheel and where the cv connects to the shaft). They may be cracked, dry rotted, or torn open.

Or they could look fine but just be slinging grease all over. Mine weren't making any noise yet but they were leaking grease like crazy and starting to crack. The insides of the CV joints are filled with a grease. This grease is necessary to keep the CV joint lubricated. If it all leaks out, this will expose the inner pieces to road dirt, moisture, sand, etc which will cause the joints themselves to fail. Some people run them for a LONG time once they start leaking, but if the boots themselves are damaged its better to replace them. Some also say you can replace just the boots themselves, which you can, but the axles aren't that expensive, if you are gonna have it done, and you are at 100k or above, might as well just replace the entire axles. You can get them pretty cheap.

Just google "how to tell if my CV axles are bad" and you will find lots of resources.

yeah mine does not do that yet haha. thanks for the help.

 

[jdotlim]

That sounds like a good deal and I would definitely keep it.
I paid $1600 for a 12month/12k mile warranty on my 08 V8 4x4 with 112k miles. Already had the transmission and alternator replaced so I'm already ahead. The $100 deductible sucks , I wouldn't have to pay it If I went to the selling dealer but they are 3 hours away.

The finance guy who sold it to me said the warranty company doesn't care if I put a lift on, but the fine print says a lift will void the WHOLE warranty. Which sucks because my Xreas is leaking, but not covered under the warranty. And if I'm going to replace Xreas I want to put a lift on. Looks like I'll be waiting until the warranty expires.

yeah it looks like I will keep it, for the peace of mind. also, if I take it to a toyota dealership, im sure they'll tell the warranty company that it is lifted. But I can probably find a ASE certified mechanic to help me with it if my cv boot goes bad or if something with the suspension goes bad. they probably wouldnt tell the warranty company it is lifted.

 

[T5RUNNER]

Financially warranties are of course always a bad deal. The average cost of repairs for your truck is going to be a fraction of what you paid for coverage. It has to be, or the warranty company could not make money. That said, you have one truck not an average, so some people like to pay for the risk reduction.

Personally, I don't ever get any extended warranties or additional insurance on anything. That gives me a nice way to average risk. Something will break someday, but overall I am saving.

 

[dchild]

yeah it looks like I will keep it, for the peace of mind. also, if I take it to a toyota dealership, im sure they'll tell the warranty company that it is lifted. But I can probably find a ASE certified mechanic to help me with it if my cv boot goes bad or if something with the suspension goes bad. they probably wouldnt tell the warranty company it is lifted.

If the repair is expensive, many warranty companies will send out their own inspector who will definitely notice the lift. Or they can request pictures from the mechanic. If the fine print says the lift voids the warranty, then they can deny the claim even if it is not related to the lift. Not all warranties hate lifts - I looked at one that explicitly accepted lifts under 2" - but it is definitely worth checking the fine print.

 

[jdotlim]

If the repair is expensive, many warranty companies will send out their own inspector who will definitely notice the lift. Or they can request pictures from the mechanic. If the fine print says the lift voids the warranty, then they can deny the claim even if it is not related to the lift. Not all warranties hate lifts - I looked at one that explicitly accepted lifts under 2" - but it is definitely worth checking the fine print.

Financially warranties are of course always a bad deal. The average cost of repairs for your truck is going to be a fraction of what you paid for coverage. It has to be, or the warranty company could not make money. That said, you have one truck not an average, so some people like to pay for the risk reduction.

Personally, I don't ever get any extended warranties or additional insurance on anything. That gives me a nice way to average risk. Something will break someday, but overall I am saving.

thats the one thing im debating about, my car runs great and drives smooth. just wondering if that extra warranty is even worth it. especially if its their word against mine that the lift was bought when i purchased the car. i feel like they would screw me over and say nothing is covered because of that.

 

[jdotlim]

I had the exact same thing on my 4th gen at under 90k miles. 4x4 actuator started leaking, $800 just in labor to fix it, CV axles were also shot. I bought it this way, the 1st owner was a moron, so that might have contributed.

I'd definitely keep the warranty!

2007 SR5 V6 purchased with86k.. Transfer case needing rebuilding @88k... out of commission for two weeks, front differential leaking @110k, and CV boots needing replacing @110k.. Keep in mind, dealer labor murders the bill. For the boots and front axle seal alone it was 600 in labor.. Also getting a rental car helped push the total cost of things higher


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i forgot to mention that i usually do all the work on my cars on my own, unless it is taking apart a transmission or engine. I believe I can replace or repair it myself. More people are saying the lift my void the warranty all together. I have no proof the lift was bought with the car.

 

[NinjaOne]

I purchased a 3 yr warranty on my '04 with 81k for about the same cost. (Deductible was $100)

It has easily paid for itself. Covered new upper/lower control arms, leaking water pump (timing belt change for just the cost of the belt :dance: ), CV joint, swaybar link and soon new u-joints or drive shaft (fingers crossed) ($4k-$5k of work at a dealer cost so far)


The only reason I would consider it is the exception is pretty broad and open to interpretation. Practically everything rusts and if they deny everything for surface rust that'd be a pain.

 

[jdotlim]

I purchased a 3 yr warranty on my '04 with 81k for about the same cost. (Deductible was $100)

It has easily paid for itself. Covered new upper/lower control arms, leaking water pump (timing belt change for just the cost of the belt :dance: ), CV joint, swaybar link and soon new u-joints or drive shaft (fingers crossed) ($4k-$5k of work at a dealer cost so far)


The only reason I would consider it is the exception is pretty broad and open to interpretation. Practically everything rusts and if they deny everything for surface rust that'd be a pain.

im sure it'll pay for itself after one repair. BUT im worried about them saying my lift will void the warranty, even though it was bought with it. i have no proof it was.

 

[T5RUNNER]

Another thing to factor is if you would do repairs yourself. If so, most problems can be fixed for less than your deductible. And yes they will look for any excuse to not cover you, and the salesman will lie to your face about it to get his commission.

I ran into this with my stupid home warranty (came with the house). Called them to fix a bathroom vent fan then wait two weeks for the appointment. The guy just pops out the fan and replaces it with a new $20 fan, but I still had to pay the $75 minnium service charge. It would have been faster, cheaper, and easier to just do it myself.