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Extended Warranty.....Did you buy it???

4.6K views 20 replies 19 participants last post by  timpearson26  
#1 ·
Okay....now that all of you have helped me buy my truck.
I have a new dilema. Do you think it is worth purchasing the extended warranty from Toyota?
I did it last night but am having second thoughts. I bought the 7 year 75K mile Platinum Coverage. I bought a Toyota knowing I would most likely never have to touch the thing for at least 100K miles. BUT....they priced it so well ($1000) and offered me a money back guarantee should I never use the warranty.
Anyone buy the warranty?
Are they a scam for extra money or are these a valuable investment that my pay off in the long run?
 
#3 ·
How can you not buy it with a money back guarentee? I didnt buy it cause I dont think ill need it. Plus it would only last me 3-4 years max with all the driving I do. If it were a dodge or something I would definately buy it, but I still have faith in Toyota.
 
#6 ·
I generally avoid extended warranties, and did not buy one from Toyota -- to me, it's like you are betting thet your Tacoma will break. I don't think it will. However, if you get your $$ back if you don't use it, go for it! The only thing you will lose is the earning power of your money for the term of the policy, and that makes it very cheap insurance. Just read all the fine print to make sure you get your money back! :thumbup:
 
#7 ·
I got the 7yr, 100K Miles Platinum Warranty for $675.00. Must have have been desparate to sell it. The guy selling it said they weren't making any money on it. Sure!
 
#8 ·
Just so you're all aware, you can buy the extended warranty any time during the time covered by the 3 yr / 36k mile factory warranty.

I decided to wait and see how things go and if it seems there is a need for the warranty after the first couple years, I can buy it then.
 
#9 ·
I will buy mine before the original warranty is up I always shop around for the bset price. My dealer tried to sell me a different one but i only buy totota 7 year platinum 0 deductible. The warranty is pro rated I just cancelled it on my 01 tacoma and got back $359. I have found them as low as $880 and as high as $1400 please let me know the best place to buy one i talked to Troy D he was referred to me he came in at $880
cindy
 
#10 ·
This place was cheaper than mine but I signed an agreement that says I will get my full $1000 back if I never use the extended warranty. So I am going to keep it for the long haul.
Here is a link....

http://www.toyotawarranty.com/default.asp


yellowlabs said:
I will buy mine before the original warranty is up I always shop around for the bset price. My dealer tried to sell me a different one but i only buy totota 7 year platinum 0 deductible. The warranty is pro rated I just cancelled it on my 01 tacoma and got back $359. I have found them as low as $880 and as high as $1400 please let me know the best place to buy one i talked to Troy D he was referred to me he came in at $880
cindy
 
#11 ·
fuck I got assraped. I paid like 1300 for mine :ugh3: God I feel sick now....lol


I wish I read more before I bought my 6 year 75k. I thought it had to be purchased then. :disappoin
 
#12 ·
No. Here was my thinking...

(1) I put more than 12K/year on, so I go through them in about half the time. Seven years sounds good, but when it's really closer to three, doesn't sound great.

(2) Past experience is the only things that have broken fall under the "wear item" catagory, and I've had to pay every freakin time anyway.

(3) It's a Toyota. I wouldn't be buying the truck if I didn't think it was solid for 200K+. If it isn't, it's the last Toyota I'll own (this is my 4th truck). Last was still running great at over 300K when I sold it.

(4) Unless it's catastrophic, which will hopefully be early in the life of the truck if something is weak, I'm usually better just fixing it myself. At least I know it's done right. Having a dealer warranty means dealing with the monkeys at the dealership, and that's rarely a good thing.

(5) It pisses me off that the warranty is just basically duplicating the warranty already on the truck at least for a while. If they say extended warranty, I want it to kick in AFTER the 36K or whatever is up.

I may have some of the facts stated above a little off, I really never checked into it a lot. I know when I looked at the borchure, it looked exactly like the extended warranty for every other car I've ever seen, and is probably run by the same warranty clearing house.

I've seriously not had good luck with them. Even on a Honda I had, they did everything they could to make it not a defective part, but "abuse" or "wear item" or whatever was them not having to pay for it.

It's all about feeling good about your purchase. If buying it makes you happy, go for it. It sucks that dealers try to fuck people on them though. If Toyota really wanted to stand behind the product, it would be a 10-year, 100K from the factory, or they would make the dealers sell it for some fixed price.

I was quoted $1900 or some shit for it from the finance weasel. Of course it kept dropping in price, ove and over till it was $700. Why would I buy it from them after they basically just showed me how bad they were going to try to fuck me?

Sorry, bad day. Rant off.
 
#13 ·
Hell goddam no! I didn't get an "extended warranty". The only thing "platinum" is the profit they made selling you that piece of paper. If you think your truck is a gonna break buy something else. Then again I made alot of extra cash over the years (the commision on warranties is very high) selling warranties to people that didn't need them. If it helps you sleep at night I guess I cant blame you. They dont sell warranties because they are nice guys, they do it because it makes so much money and all you have to do is scare the customer. Ive had 8 new cars, a new motorcycle, and a new snowmobile and never bought a warranty. I never regreted it. You bought a Toyota: get your money back and put it in the bank where it will do you some good. Either way congrats on your new truck I hope you like it as much as I like mine.
 
#15 · (Edited)
I always find a way to buy a warranty. I've never owned a Toyota -- this is my first, but on every other vehicle, I've been glad I had it. I find that things tend to happen at about 50,000 miles or so. I paid $1195 for my Platinum version (twice as much as some of you), and I'll bet you I get my money back in cost savings on some expensive repair along the way. As long as I keep it serviced, when I do go in for a problem, I want the peace of mind of having Toyota, even though they may bitch, fix the problem without requiring me to come up with lots of cash. I think the price for this warranty is well worth the investment.

I'll let you know, in about 3-4 years, whether I use it or lose it.
 
#17 ·
Nope. Didn't get any of the extra's the finance guy tried to add on. He was actually getting a little pissy about us turning everything down. He kept showing us an article out of the Chicago Tribune that talked about the effects of acid rain. I told him that we hand wash our vehicles and wax them at least 2-3 times per year. Never had any paint trouble or any other trouble for that matter. We have regular maintenance done on our vehicles and have no need for the extended warranty. Someone earlier said that it's like betting against yourself. That's the way I see it too.
 
#18 ·
I bought my truck through the fleet manager so I got it at invoice. The Toyota warranty I bought also under fleet for $450. It is a no brainer at that price. Just think how expensive the hourly rate is at the dealership if anything should go out on it in 7 years. Yes it is a Toyota . But no vehicle is bullet proof for 7 yrs, 75K miles.
 
#21 ·
TacoThad said:
wow i got it hard i guess .... paid 1700 for the warranty but ..... if anything ever did happen .... due to my driving or due to toyota it is covered with no deductible!
wow, you paid more than me. I paid $1475 for the 7/100,000.

Is there anyway that I can return the extended warranty for a full refund, because it is pro rated I believe, and then re-negotiate it down at another dealership?