I've NEVER EVER bought an extended warranty...and I NEVER will.

They are nothing more then a very expensive insurance policy that makes the dealers a lot of money. Last I read less then .1% will ever get what they paid into the policy...and less then 5% ever make a claim.

Extended warranties typically only are good to 100k miles. If any vehicle I own can't make it to 100k miles without a $1500 repair...then I'd find a new brand.

 

For you, that might be good. But for my last car - a non-Honda non-Toyota - I found that NOT buying one was the absolute worst thing I could have done. (Second to not buying another Toyota). After the 3/36 you could not even start to imagine how fast things broke.

And, yes, like you I found another brand.

Now, I like have a piece of mind that over the next 8 years, anything that breaks is going to be fixed for free, no deductible. Something goes wrong, I make an appointment and it is addressed. Each person is different, but to me that is appealing.

 

At full dealer markup they aren't worth it, however at close to dealer cost each one we've had has paid for itself. For example the navigation in my parents 2009 Camry started acting up. Their $500 warranty covered a $1600 repair.

 

For you, that might be good. But for my last car - a non-Honda non-Toyota - I found that NOT buying one was the absolute worst thing I could have done. (Second to not buying another Toyota). After the 3/36 you could not even start to imagine how fast things broke.

Of course you can always find that 1 in 10000 person who had luck with buying the extended warranty. But what about the other 9999.

If it gives you piece of mind..then fine. But for every 1 person who it worked out for....there are 9999 who lost money. Those are the facts. Insurance companies know this. That's why the major insurance companies like Allstate, State Farm have created separate divisions for extended warranty insurance. And right from the start it has been their highest profit division EVER.

 

I paid $760 for a 7/100k platnium warranty from Jerry on our 2011 Highlander.

If I have a water pump go between 50-100k miles I'll make my money back.

That's about as much as I'd ever pay for an extended warranty.

So far reliability has not been as good as I'd hoped on our 2011.

If you can get a 100k warranty for around $700 like I did, that's another 64,000 miles of pretty comprehensive bumper to bumper coverage.

 

I could only get an 8yr/75k for $700. I've never seen 100k for the same. You did great for that price.

 

Warranty

On my last Lexus I got the 2 year Platinum Extended Warranty from Jerry. Paid 600 dollars.

I had two problems with the car after my original warranty expired. The XM Radio died. 1000 dollars for a new radio. The other was a drivers side pillar airbag light came on. That was 1500 dollars for a new wire harness.

600 dollars for 2 years is 82 cents a day. Cheap insurance for a little piece of mind.

Also you don't need to buy the warranty when you buy the car. Just buy it before the warranty expires. If you plan on keeping the car.

If your not planning to keep it. Then don't buy it.

With this being the 1st year of this generation. I would buy it.

 

Who is Jerry that your referring to for purchasing extended warranties? Yesterday we were quoted $1,580 for 8/75 on our 2014 HL Platinum, said no. They came back with the same 8/75 claiming $100 over their cost making it $1,280. We said no.

Last time we bought extended warranty from Doug in IL at a great discount on our 2011 Sienna Ltd. Was going to give him a call but saw your mention of Jerry!

 

I dont know who Jerry is, and I am sure someone will weigh in....but I just (this week) used Troy. $710 8yr//75k. See my post below...

http://www.toyotanation.com/forum/6471953-post5.html

 

Personally with Toyota's reliabilty is great! I agree with MC5Wes, for peace of mind you can purchase before warranty expires.

 

Evidently, as of a few days ago, Toyota put the brakes on dealers selling Toyota factory warranties out of their regions. Jerry at Midwest, says he can no longer sell the warranty unless you drive to his store:headbang:

The same goes for other dealers--best to try immediately if you want to secure a great price point on the Toyota warranty.

 

Warranty

Well that sucks. You can still shop around. Jerry sold so many warranties. He could make up the smaller profit with increased volume.

Anyways, I would give him a try. If he cant sell one to you. Maybe he has a contact in your area for a good deal.


Jerry Johnson
Warranty Manager
Midwest Toyota
1100 east 30th
Hutchinson, Ks 67502
800-530-5789
Cell 620-664-8844
jerryj@midwestsuperstore.com
www.midwestsuperstore.com

 

Usually how much more does it cost to buy the warranty 3 years from now right before the one that comes with the car about to expire than to buy the same one now?

 

RockyT,

the difference is very little, it might go up just a little bit over a 1-3 years just due to inflation.

I waited to buy on our 2011 until I was at about 33,000 miles (right before 36k bumper to bumper expired) and then bought. I think the price was within $100 of when I checked it at time of purchase.

The party is over now that Toyota forces you to buy an extended warranty from your local dealer.

 

For new buyers, might be better to wait until you are close to the factory warranty expiring...perhaps Toyota will reverse their decision in a couple of years.

 

If I couldn't find a local dealer to match, I'd find a forum member near by and use their address to have the warranty paperwork mailed to. As simple as that.

 

The dealer I bought the car from states the LCD screen/navigation likely blacks out in a few years and it costs a few thousand to replace/fix it. And that makes me think of extended warranty.

 

Odd that a dealer would talk down the quality of the product that they're selling, all in the name of pushing a warranty. I'm guessing they brought this up in the F&I guy's office at the very end as opposed to during the sales process. Correct? At that point, you have so much time invested in the process that they probably think they can scare you into buying a warranty without risking the sale.

 

Extended warranties are totally worth it IMHO. It paid for itself many times over on my RAV. However, every car is different, so YMMV.

 

New transmission in my van $3000 so glad we had the warranty. On past car received $850 back when we traded the car in as we hadn't used it all. Win win in my opinion.

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New transmission in my van $3000 so glad we had the warranty. On past car received $850 back when we traded the car in as we hadn't used it all. Win win in my opinion.

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I got a new tranny, muffler, two ignition coils and water pump out of my extended warranty.

 

Is that for a Toyota warranty or something else? If TC, then I assume it was 8yrs/125k. And you should actually be able to get that (Platinum w/$0 deductible) for close to $1k less than he quoted.

 

What is TC? It is factory warranty, Platinum extended warranty. He explained only Platinum warranty cover the Navigation system since my vehicle is an XLE. You mean we can get a Platinum 8 yrs/125K for around $1300? With extended warranty, we can abuse the vehicle a little more

 

That would be a shame if Toyota put a stop to extended warranties being purchased at other dealers. I have used Jerry for my last 2 warranties as the dealers are very manipulative about these. Maybe they should not let us buy cars out of state either. This is just a dealer pressure ploy to protect the local dealers continuing to rip people off on Toyotacare.

 

You must have heard an incorrect rumor somewhere (maybe even a past thread on TN). You can buy the warranties from "almost" any dealer in the Country. The exception is the dealership except that got in trouble for setting up a website to sell warranties online. Those guys got in trouble since that is not allowed by Toyota. That was the basis for the rumor about not being able to purchase warranties out of State.

 

Kevin, yes you can buy your warranty any time before your 3 yr / 36k mile warranty expires. By buying from a volume seller, you'll pay a lot less. Most go thru Jerry. See this thread:

http://www.toyotanation.com/forum/1...m/122-2nd-generation-2008-2013/354699-extended-warranty-information-sticky.html

 

Damn I sent him three emails but no response. Is he on this forum?

 

My wife and I bought a brand new 2000 Lexus LX470 -- Lexus version of Land Cruiser. Wonderful vehicle. Engine blew at less than 5000 miles after warranty expired. (Memory tells me it was 65,000 miles.) $5000 repair -- Lexus didn't want to hear from nothing. Dealer repaired one side of the engine but there was damage to the other side they didn't detect. Engine blew again. This time the dealer covered the $4000 repair no questions asked (under the repair warranty). I know the odds on these high quality brands tell you extended warranty is not worth it, but that $5000 engine repair was very painful.

 

Thats odd, I have a family member with a '99 LX470, I call that thing the tank. It has 310k+ miles and is still their daily driver. It hasn't had a single part fail (beyond a short in the driver front speaker, something is shorting in the wiring, I can't find it). Its still running the original water pump/engine components/etc...Only thing done was battery replacements and regular maintenance (granted that's a ton on that car). Only thing that has happened was recently the hydraulic fluid for the suspension had dried up somehow, all that was need a flush and refill and it works 100% again. Those trucks are built to survive the apocalypse :lol:

Having said that, the thing hasn't seen higher than 15mpg on the highway :lol: Its a thirsty tank.

 

I know the odds on these high quality brands tell you extended warranty is not worth it, but that $5000 engine repair was very painful.

For every example of where extended warranties worked (or would have worked)....there are 10,000 examples of where people just lost their money. That's why insurance companies make great profits on this type of insurance.

 

What's your point? It cost me an extra $1000 to warranty my $60k Sequoia Platinum for 8 years/100k. I've personally already used it enough to get my money back, but if I hadn't in the scheme of things it's just a drop in the bucket.

I pay for car insurance every year, home owners insurance every year and health insurance every year hoping I never have to use it. It's there to protect me against a huge loss that could financially devastate me or put a hurting on me. If my engine and transmission went out @ 70k, I have enough in savings to cover it many times over, though the longer I can hold on to that money the more it's making me (my investments have averaged over 15% for the last 4 years).

So while I agree that I would never buy the warranty at dealer markup, mine would have easily been $3000-$3500 if I didn't work for corporate at the time, there's enough little things that could happen over the course of the extended warranty that would cover the $1,000 I shelled out.

 

RockyT the days of cheap warranties are gone, toyota corporate prohibits jerry from selling warranties out of state

You are now forced to deal with your local dealer and pay twice what you should be

Was a good deal at $700, not so much at $1,400 or more

There's a long thread about this in second gen. Other dealers complaints and think they should get hundreds and hundreds of profit for 5 minutes of work

You have a decent shot of making out on $700 warranty, water pump almost certain to fail before 100k

 

What's your point? It cost me an extra $1000 to warranty my $60k Sequoia Platinum for 8 years/100k. I've personally already used it enough to get my money back, but if I hadn't in the scheme of things it's just a drop in the bucket.

The point is - it's EXTREMELY RARE for someone to get back what they put in. Great that you were able to. But the other 10,000 who bought those policies - LOST MONEY.

If I had that much money in repairs as you have....I'd consider buying another more reliable vehicle. I haven't put $1000 in REPAIRS on my 05 4runner and it has over 260k miles.

 

My experience has been different, already had rear hatch and trans replaced at 51k miles

Highlander is rated as average reliability, maybe slightly above average

All data sources point to toyota reliability slipping over the past 5 years and even toyota admits this

I think you being able to drive multiple vehicles to 300k with nothing other than fluid changes is equally as rare as making a warranty claim

Toyota is reliable but I think people exaggerate the reliability. They really use same parts as everybody else, Denso, etc.

I paid $760 for 100k factory warranty from jerry. Most highlander owners have water pumps fail at 60-70k.

There are relatively few Toyotas around with 300k miles, yes they exist but not super common

Check the forums and data you'll see plenty of complaints about supposed infalliable toyota reliability

Even, gasp, complaints on lexus forums. Cars are complicated and toyota is good but far from perfect

 

I understand your point but to each there own. I'm going to assume you never buy any type of maintenance or insurance for that matter?!

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Well said tagheuer!

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