My recent purchase of a new 2005 Matrix XR, my first new car, included a Toyota Extra Care Program. After nearly a month the paperwork finally arrived. Now during the entire car purchasing process there was no mention of a Toyota extra care program until I went in to sign the final papers. I am guessing the sales people are trained to do this as opposed to mentioning beforehand so you, the customer, do not have time to research the plans - perhaps a little pressure tactic to put you on the spot and make a hasty decision at time when all you want to do is get the deal done (?).
The paperwork finally came almost a month after I purchased the plan and it was for a Gold package with 75,000 miles of coverage over 6 years, with a $50 deductible. The cost was $475. During the process of filling out the paperwork I specifically asked the dealer's "paperwork guy" if this was a "bumper-to-bumper" type of warranty covering labor and parts, which he said yes. Upon examining the paperwork and Toyota's web site I found that they also offer a more extensive platinum program, with other deductibles, which were not mentioned.
I had mixed feelings about this. On the one hand part of me was asking if this was a sales scam, while on the other hand perhaps it was a misunderstanding about what I meant by "bumper-to-bumper". I do realize that no one is likely to to provide the same coverage that is provided under the original 3 year, 36,000 mile warranty. That said, I did send an email to the dealer explaining the situation and wanting to know the costs for their plans so I could make a more informed decision as I was unable to get any sort of idea as to plan costs from Toyota's web site which only lists the suggested retail prices, which differ from what the dealer actually quotes you. Perhaps also the "paperwork guy' did not mention the higher plans as he probably figured the increased cost would scare me away.
Well, I received a call from the dealer's same "paperwork guy" later in the day and he said that I actually should have gotten a Platinum plan for the $475, for 75k, 6 years, and with a $50 deductible - it was a mistake. Although he did not send me a email with costs for all their plan levels (as listed in the Toyota suggested retail price chart below), I was able to obtain a quote for the same Platinum plan, but with a $0 deductible - it was $595, or $120 more, which I decided to purchase instead. I also obtained a quote for a Platinum 100K 7 year plan with $0 deductible, which he quoted at $890, (a little more than I am willing to part with at this time).
(1) I am curious as to what other people are paying? I live in Iowa. Perhaps such a list here ould be helpful to others.
(2) Are these plans worth it? I notice there are certain items in the service plan which could be used as loopholes; for example, only mechanical failure of items is covered, not wear; and if a noncovered component causes a covered component to fail the "normally covered" component it not covered. Are claims actually ever paid?; I mean the administrator of the plan could simply say that any part failed because of wear, not because it was defective; or a covered part wore out because a noncovered part damaged it.
(3) I do realize there are 3rd parties which offer warranties, but it would seem less likely for Toyota to file for bankruptcy than these 3rd party operations, which likely only exist on profits generated from their plans.
(4) I plan to keep my Matrix for along time (my previous car was a 1984 model). I drive very little. It would be very likely, for example that I would never exceed any of the mileage limits on any of the warranties, thus a 7 year warranty might be worth it as I've read that the plan's administrators are generally betting on the trend you will not keep your car very long (of course if they don't actually pay claims then - or make it very difficult - then its not worth it).
(5) I do realize that plans can be purchased anytime prior to 3 years and 36,000 miles; however, it would seem that Toyota is likely to increase the cost of the plans in future, and I am also wondering if you will receive a higher quote price if you have more miles on your car at the time of purchase as opposed to when its new. I am curious if anyone has been able to change plans; for example, I could upgrade to the 7 year, 100k top plan by paying the difference between it and my current plan as along as I did this prior to 36,000 miles or 36 months? - $890 is a lot money to spend.
I was a little lucky, I went in to do some paperwork before my Matrix 05 arrived, and the guy gave me the scoop on the plan then, giving me some time to think about it. It didn't take long to pass on it.
What irritated me about this plan (gold, platinum, or whatever) is that it's billed as a 7 year plan, but is not. It's really only hedging your bets that something is going to go seriously wrong with the car between the end of the warranty period and the seventh year.
I reasoned, rightly or wrongly, that if something is going to go seriously wrong with the car, it will probably happen in the normal warranty period because something went wrong in the manufacturing process. This being a Corolla, with all the reliability of the Corolla, I'm not worried overly much about the 4th to 7th years.
They don't honor the warranty anyway. I've got a Corolla with a broken axle right now and I can't get them to agree to pay for it. I don't know if the transmission was damaged because that would require them to actually do some work and might cost them some money to honor their own warranty. I've also got a leaking seal that they won't cover unless I agree to authorize and maybe pick up the cost for them to take the top end of the engine apart to investigate. The inspector that TEC sent out is trying to claim it's blow back from my last oil change. Sure it is. All over my driveway too. The drivebelt tensioner is also bad, but they won't cover that because it's not broken enough. Not sure what that means. According to the service advisor at the dealer (only took it there because I'm under warranty. HA!) I need my catalytic converter and tail pipe replaced before I pass smog. And of course the Extra Care plan does NOT cover exhaust parts. Good thing I'm not due for a smog check for a couple of more years.
Did I say inspector? Yes I did. Apparently any repair that will cost more than a few hundred dollars requires an inspector to come out and basically find a way refuse to cover any work or parts. Neat. Not sure what that $1000 I spent got me.
So in summary, I'm going to say that any Extra Care plane is a colossal waste of money and will cause you nothing be headaches when trying to use it. This experience I'm going through right now has soured me so much that I probably will never buy another Toyota again. And the cars are so good, it's just the corporate policies that have turned me off of them.
I'll be back on here to update in a few days (or maybe weeks at the rate they're working on things) to let everybody know how things turn out. Hope the couple of thousand dollars that you save is worth the bad publicity I'm going to generate for you. Jerks.
For you, I would say no. If you break things down a little, you're covered 3yrs or 36,000 miles bumper to bumper. You're covered 5 yrs or 60,000 miles powertrain. You would only be "buying" 4 extra years of coverage. The chances that you will experience a "bumper to bumper" claim are slim. If you drive sensibly and only put a few miles on the car a year, IMHO, you're wasting your money. As long as you take care of the car during this period, I would suspect that you will have very few issues to begin with. Get all the "bumper to bumper" things fixed during that time.
__________________
2003 XRS - Indigo Ink Pearl
K&N Typhoon SR
Magnaflow Cat back Exhaust
Energy Suspension Motor Mounts
Speed Source Cable / Shifter Base Bushings
We bought a plan, and for the last four months we are trying to cancel it. Good luck!
We sent the Original contract through certified mail, they are claiming that "it does not show" in their records! After talking with a customer care representative I was asked to send again the paperwork. I did it through email. Called again, they said...you guessed it, that "it does not show in their records!"
How do you think they will pay for your problems if they are so dishonest? And, with the economy today... good luck to see any money from them.
Quote:
Originally Posted by Matreks
My recent purchase of a new 2005 Matrix XR, my first new car, included a Toyota Extra Care Program. After nearly a month the paperwork finally arrived. Now during the entire car purchasing process there was no mention of a Toyota extra care program until I went in to sign the final papers. I am guessing the sales people are trained to do this as opposed to mentioning beforehand so you, the customer, do not have time to research the plans - perhaps a little pressure tactic to put you on the spot and make a hasty decision at time when all you want to do is get the deal done (?).
The paperwork finally came almost a month after I purchased the plan and it was for a Gold package with 75,000 miles of coverage over 6 years, with a $50 deductible. The cost was $475. During the process of filling out the paperwork I specifically asked the dealer's "paperwork guy" if this was a "bumper-to-bumper" type of warranty covering labor and parts, which he said yes. Upon examining the paperwork and Toyota's web site I found that they also offer a more extensive platinum program, with other deductibles, which were not mentioned.
I had mixed feelings about this. On the one hand part of me was asking if this was a sales scam, while on the other hand perhaps it was a misunderstanding about what I meant by "bumper-to-bumper". I do realize that no one is likely to to provide the same coverage that is provided under the original 3 year, 36,000 mile warranty. That said, I did send an email to the dealer explaining the situation and wanting to know the costs for their plans so I could make a more informed decision as I was unable to get any sort of idea as to plan costs from Toyota's web site which only lists the suggested retail prices, which differ from what the dealer actually quotes you. Perhaps also the "paperwork guy' did not mention the higher plans as he probably figured the increased cost would scare me away.
Well, I received a call from the dealer's same "paperwork guy" later in the day and he said that I actually should have gotten a Platinum plan for the $475, for 75k, 6 years, and with a $50 deductible - it was a mistake. Although he did not send me a email with costs for all their plan levels (as listed in the Toyota suggested retail price chart below), I was able to obtain a quote for the same Platinum plan, but with a $0 deductible - it was $595, or $120 more, which I decided to purchase instead. I also obtained a quote for a Platinum 100K 7 year plan with $0 deductible, which he quoted at $890, (a little more than I am willing to part with at this time).
(1) I am curious as to what other people are paying? I live in Iowa. Perhaps such a list here ould be helpful to others.
(2) Are these plans worth it? I notice there are certain items in the service plan which could be used as loopholes; for example, only mechanical failure of items is covered, not wear; and if a noncovered component causes a covered component to fail the "normally covered" component it not covered. Are claims actually ever paid?; I mean the administrator of the plan could simply say that any part failed because of wear, not because it was defective; or a covered part wore out because a noncovered part damaged it.
(3) I do realize there are 3rd parties which offer warranties, but it would seem less likely for Toyota to file for bankruptcy than these 3rd party operations, which likely only exist on profits generated from their plans.
(4) I plan to keep my Matrix for along time (my previous car was a 1984 model). I drive very little. It would be very likely, for example that I would never exceed any of the mileage limits on any of the warranties, thus a 7 year warranty might be worth it as I've read that the plan's administrators are generally betting on the trend you will not keep your car very long (of course if they don't actually pay claims then - or make it very difficult - then its not worth it).
(5) I do realize that plans can be purchased anytime prior to 3 years and 36,000 miles; however, it would seem that Toyota is likely to increase the cost of the plans in future, and I am also wondering if you will receive a higher quote price if you have more miles on your car at the time of purchase as opposed to when its new. I am curious if anyone has been able to change plans; for example, I could upgrade to the 7 year, 100k top plan by paying the difference between it and my current plan as along as I did this prior to 36,000 miles or 36 months? - $890 is a lot money to spend.
We bought a plan, and for the last four months we are trying to cancel it. Good luck!
We sent the Original contract through certified mail, they are claiming that "it does not show" in their records! After talking with a customer care representative I was asked to send again the paperwork. I did it through email. Called again, they said...you guessed it, that "it does not show in their records!"
How do you think they will pay for your problems if they are so dishonest? And, with the economy today... good luck to see any money from them.
I bought the extracare and never used itI wont get it next time because Im a high mileage driver.
we got the 7y/100k plan on our CPO '05 Matrix xrs when we bought it in Dec. 07... had the belt tensioner go bad after a few months and they covered the ~$300 replacement with no questions, no cost to us. The tensioner went bad again in a few mos. and they replaced it again under the warranty for the first repair. So our net cost is down to around 700-800 with nearly 3 yrs. and 52,000 miles to go on the service contract (they're not a "warranty". jc
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Don't bother
. jc
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