Warranty Pricing for 5th gen's

[Dalko43]

So here is my situation.

2011 4runner Trail
~38k miles
a bit under a year left on the factory powertrain warranty (5yr/100k)

I am shopping around for an extended warranty that will last somewhere around 5yr/60k (in addition to my current mileage, not in total).

I would prefer a basic powertrain warranty, but a slight upgrade to powertrain + electronics, A/C, ECU, brakes, ect. is something I am considering.

My question to everyone here is, what seems to be the ballpark pricing (from Toyota dealerships and others) on those kinds of warranty packages?

I chatted with a local Toyota dealer and they mentioned a Gold Package (Powertrain + electronics, brakes) for about $1,450 that would last 5yr/60k miles....it seems a little steep to me, but I'd like to get a frame of reference from others before I decide yes or no.

Unfortunately, they don't offer basic powertrain warranties for anything past 2yr/30k which seems fishy to me...

Feedback would be much appreciated.

 

[Engineer]

I can't help you with pricing but I would recommend thinking hard if it’s worth it. You bought one of the most reliable vehicles sold in North America. That ~$1500 is a large repair bill that you could swallow IF it occurs and still break even. If it doesn’t happen you are ahead.

Any warranty that you purchase outside of the initial cost of the item to me is buying insurance. I only use insurance for the 1 in a million events that I could not or would be incredible hard to recover from ( My home burning down, permanent disability, life insurance for remaining family (more for lost income potential then debts)

Your current quote does seem steep ~1500 for only 60k coverage which if you are already at 38 that’s only 22k miles (roughly 2 years worth of driving). You have enough miles on your 4runner that infant mortality failures should not be of a concern so the major worry now is wear out which at 60k miles I would argue the 4runner is just settling into her grove.

My mind is blown that retailers are pushing insurance on electronic items these days. If it is DOA the manufacture will give you a new one under warranty and if it works the chances of something happening to you TV or PS4 etc are small. That said I did by a tire warranty on my KM2’s because I knew they would actually get used and I stood a high chance then the “average” person of needed one…..so far I have not got my money back 

 

[Blue15]

Just my opinion, but I think one can do better things with the money.

Extended warranties are rarely used by those who purchase, I understand the sense of security that goes with warranties, but past the manufacture; If you mistreated the vehicle they'll know it, if you treat it well you'll know it. I have always opted out, and never regretted in the five new purchases over the many years. I think its an expense feel-good measure, that others profit over.

I vote you spend the money on a quality Firearm.

 

[Dalko43]

I can't help you with pricing but I would recommend thinking hard if it’s worth it. You bought one of the most reliable vehicles sold in North America. That ~$1500 is a large repair bill that you could swallow IF it occurs and still break even. If it doesn’t happen you are ahead.

Any warranty that you purchase outside of the initial cost of the item to me is buying insurance. I only use insurance for the 1 in a million events that I could not or would be incredible hard to recover from ( My home burning down, permanent disability, life insurance for remaining family (more for lost income potential then debts)

Your current quote does seem steep ~1500 for only 60k coverage which if you are already at 38 that’s only 22k miles (roughly 2 years worth of driving). You have enough miles on your 4runner that infant mortality failures should not be of a concern so the major worry now is wear out which at 60k miles I would argue the 4runner is just settling into her grove.

My mind is blown that retailers are pushing insurance on electronic items these days. If it is DOA the manufacture will give you a new one under warranty and if it works the chances of something happening to you TV or PS4 etc are small. That said I did by a tire warranty on my KM2’s because I knew they would actually get used and I stood a high chance then the “average” person of needed one…..so far I have not got my money back 

I have a similar view of warranties...I look at them as financial hurdles and try to assess the probability of future repairs overcoming that hurdle.

$1,450 is a pretty big hurdle for me to overcome in the next 5 years/60k miles. It would take some major repair work for that kind of warranty package to make sense....the probability of those kinds of repairs happening within that time frame....very low.

If the warranty only cost were somewhere around $1,000, I think it would be a much more logical purchase. I'm trying to see what kind of pricing other owners have encountered when purchasing these types of warranties.

BTW, the warranty covers 60k miles in addition to my current mileage, not 60k miles in total.

 

[Dalko43]

I vote you spend the money on a quality Firearm.

While your vote definitely appeals to me, I already have a nice setup for pinging steel (FN SPR in .308). So I'm set on firearms for the next few years.

 

[MATTYDIRT]

My '15 T4R TEP came with KDSS. After doing a bunch of research and driving them, I decided I wanted it, but there were certain liabilities with regards to repair cost if, in the long run, they fail and need to be replaced (I think it's around ~1,500 for one piston). So, that said, I started thinking about the extended warranty. The dealership quoted me around $2300 for the top of the line 100k mile warranty. A buddy of mine who works in the parts department at a Toyota dealership, informed me that the dealership pays $1,000 from Toyota and sells them to the consumer for whatever they can get. End of the day, I offered to pay $1,200 for a 100k mile bumper to bumper warranty on a brand new car.

If I didn't have KDSS on my truck, It would be a very tough decision for me, but that's what put me over the edge. I paid about 50% less than what the finance guy originally offered it to me for.

Point of story - I think price is negotiable.

 

[NoDak]

well the first problem I see is that your past 3yr/36k miles option for the plat. warranty from Toyota. so your pricing will be higher and you can only cover used vehicles from 1yr/12k miles up to 5yr/60k miles.

on a new vehicle your cost can vary cheaply from $700-$800 up to around $1450-$1700

for a T3 plan, mine was $1350 for a 7yr/125k since I avg about 15-20k a year in mileage.

on the 2014 rav4 it was 1050 on a 7yr/100k

on the 2015 camry it was 1000 for a 7yr/100k


and I bought mine directly from the dealer within state, but I had to shop around.


crap forgot to add link to Toyota New/Used warranties : https://www.toyotafinancial.com/pub...e_protection_plans/vehicle_service_agreements

 

[NoDak]

My '15 T4R TEP came with KDSS. After doing a bunch of research and driving them, I decided I wanted it, but there were certain liabilities with regards to repair cost if, in the long run, they fail and need to be replaced (I think it's around ~1,500 for one piston). So, that said, I started thinking about the extended warranty. The dealership quoted me around $2300 for the top of the line 100k mile warranty. A buddy of mine who works in the parts department at a Toyota dealership, informed me that the dealership pays $1,000 from Toyota and sells them to the consumer for whatever they can get. End of the day, I offered to pay $1,200 for a 100k mile bumper to bumper warranty on a brand new car.

If I didn't have KDSS on my truck, It would be a very tough decision for me, but that's what put me over the edge. I paid about 50% less than what the finance guy originally offered it to me for.

Point of story - I think price is negotiable.

hehe, I think your friend stretched the truth.

if I can get a T3 plan for 1350, 1050 and 1000 and the dealer still made money, then we know it doesn't cost 1000 for that warranty.

 

[MATTYDIRT]

hehe, I think your friend stretched the truth.

if I can get a T3 plan for 1350, 1050 and 1000 and the dealer still made money, then we know it doesn't cost 1000 for that warranty.

$1000 might have not been exact numbers, but still got a deal at 1200 for a 100k mile platinum warranty, considering they originally quoted me over $2k.

 

[NoDak]

yeah the dealer I bought the 4runner, rav4, camry always quote me around 2300-2700 for that 7/100 7/125 warranty. I give them the opportunity, but just shake my head on the loss sale that I give to another dealer that is willing to make a little money on a sale that they never would have made.

dealer loss of prob 900-1500 on those 3 warranties they wouldn't budge that someone else made.

 

[Rob71]

If the expended warranty was not making money for the Insurance company they would not have sold it. Most of the time money wasted. Walmart ask me if I wanted to buy warrantee on my DSL modem for $9.99 are you kidding the thing cost $80 I can afford to replace most of my stuff if they go bad. Toyota and Honda warranty are low price for a reason. They make the cars to last. :lmao::snacker:

 

[Keep 'Em Flying]

An extended warranty on a offroad capable vehicle you must be joking.

All it takes to deny a claim is for them to say it was abused due to offroad use.

 

[Hellamatic]

Not worth it. I had a 2007 Tundra that I used to run around the bush for 3 years/190,000km for work. Not a single problem with it, and the Tundra is arguably one of Toyota's least reliable vehicles. I paid lots of cash for extended warranty, and it was a total waste of money.

 

[vicpick58]

Just my opinion, but I think one can do better things with the money.

Extended warranties are rarely used by those who purchase, I understand the sense of security that goes with warranties, but past the manufacture; If you mistreated the vehicle they'll know it, if you treat it well you'll know it. I have always opted out, and never regretted in the five new purchases over the many years. I think its an expense feel-good measure, that others profit over.

I vote you spend the money on a quality Firearm.

The extended warranty that I bought with my last Grand Cherokee paid out a little over $6000 in repairs before it expired at 100k miles. Well worth the approx. $2000 that I paid for it.

That said, the extended warranty that I bought with my 4Runner just paid it's first claim at 120k miles for a defective electric door lock, $395.67. Not worth the $1200 or so that I paid for it. I still have about 2500 miles left until it expires at 125k, but nothing else is currently wrong with my 4Runner, so unless the transmission or something fails in the next couple weeks, I think it was a mistake to buy the warranty. Could have bought a nice firearm instead, or more ammo before the prices went up so much.

 

[LUVDA4RUNNER]

Extended warranty for a 4Runner = a waste of $$$.
Go buy a Nissan if you want to buy a warranty

 

[ECBMCC]

Just my opinion, but I think one can do better things with the money.

Extended warranties are rarely used by those who purchase, I understand the sense of security that goes with warranties, but past the manufacture; If you mistreated the vehicle they'll know it, if you treat it well you'll know it. I have always opted out, and never regretted in the five new purchases over the many years. I think its an expense feel-good measure, that others profit over.

I vote you spend the money on a quality Firearm.

I agree, these vehicles are extremely reliable. I won't be purchasing one. Having said that, I did when we purchased our 2009 Acura TL. Surprisingly, it more than paid for itself over the 118K miles that I owned it between the air bag modules issues, torque converter and a few other items. My two cents. Cheers!

 

[korborh]

:infidel:Advice = Save your money from the stealership and do not get an extended warranty.

 

[Mikey01]

My insurance is covering me bumper to bumper for 100k it is like $5 extra a month. See if your bank or insurance will do that for you

 

[1000MPH]

Good thread RE: Toyota Extended Service Agreements on the Rav4 forum. Eye opening.
Buying an Extended Warranty? READ THIS FIRST!! - Toyota RAV4 Forums

 

[mikeromeo1968]

So here is my situation.

2011 4runner Trail
~38k miles
a bit under a year left on the factory powertrain warranty (5yr/100k)

I am shopping around for an extended warranty that will last somewhere around 5yr/60k (in addition to my current mileage, not in total).

I would prefer a basic powertrain warranty, but a slight upgrade to powertrain + electronics, A/C, ECU, brakes, ect. is something I am considering.

My question to everyone here is, what seems to be the ballpark pricing (from Toyota dealerships and others) on those kinds of warranty packages?

I chatted with a local Toyota dealer and they mentioned a Gold Package (Powertrain + electronics, brakes) for about $1,450 that would last 5yr/60k miles....it seems a little steep to me, but I'd like to get a frame of reference from others before I decide yes or no.

Unfortunately, they don't offer basic powertrain warranties for anything past 2yr/30k which seems fishy to me...

Feedback would be much appreciated.

look into usaa auto ins if you are a vet. they have some nice extended warranties