Extended Warranty. To Purchase or Not?

[FredSG]

Hi,



In seven days I will be picking up my Toyota Tundra, as ordered, so far the dealership has been great with me. Now, I have to decide if I want to get the Platinum Extended Warranty. I guess I want your opinions. I purchased an extended warranty for my 1989 F-250, when I bought it, and never needed it. I also purchased an extended warranty for my 2003 John Deere Compact Tractor, 4310, and never needed it. So now, what should I do with my Toyota Tundra? Your opinions please! I've been quoted $1445.00 for the 7 year, 100,000 mile Platinum Warranty. OPINIONS and ADVICE PLEASE!



FredSG

[redraider8090]

In reference to your statements, I did the same thing on my last Chevrolet and never needed the warranty...lucky I guess.

Personally, I would wait for a while and decide if you're going to keep the truck. If you decide to sell the truck in two years, then its a waste of money....ya know. I was told by the dealership that you can still purchase an extended warranty up to the point where your standard warranty expires. You have some time, and thats a lot of money...so I would see how it goes...

[trailrider325]

you can get the same warranty online for $990 at TDietrich@toyotaofgreenfield.com

[Hawaii 5.7]

I was just going to add in that you can find companies who will offer extended warranties online for a lot cheaper than what your dealer is trying to sell them for.

Did you know the sales person (or financial advisor in my case) gets paid commision for selling the extended warranty! In many cases they will jack up the price of the extended warranty more than its worth and will even negotiate with the customer.

I believe that if your truck will develop major problems, it will be during the regular warranty period. If its that bad and problems keep arising you'd probably be better off getting rid of the vehicle sooner than later.


Well, hope that helps.

[happydayz]

Originally Posted by FredSG

Hi,



In seven days I will be picking up my Toyota Tundra, as ordered, so far the dealership has been great with me. Now, I have to decide if I want to get the Platinum Extended Warranty. I guess I want your opinions. I purchased an extended warranty for my 1989 F-250, when I bought it, and never needed it. I also purchased an extended warranty for my 2003 John Deere Compact Tractor, 4310, and never needed it. So now, what should I do with my Toyota Tundra? Your opinions please! I've been quoted $1445.00 for the 7 year, 100,000 mile Platinum Warranty. OPINIONS and ADVICE PLEASE!



FredSG

You will receive the total cost back from Toyota if you don't use it at all. That being said, there's a short period of time for reimbursement. You will have to pay attention to this date and the odds are many will forget this FACT! After all, 7 yrs. is along time for paperwork and remembering(at least in my case). I did buy this warranty and I hope I never need to use it.

[hit_em]

I would say not worth it. Like a couple people have mentioned if there is going to be something wrong with the truck it will happen within the standard warranty. after that it's usually just wear and tear and would the extended warranty even cover that? how long do you usually keep a truck for? how many miles do you usually put on a year? Are you hard on trucks? such as off road alot, or do alot of burnouts, constantly hold the skinny peddle to the floor. I would think about that kind of stuff. I dont know the terms of agreement on the extended warrenty or how you take care of a truck so it's hard to say. I dont even consider it but thats because I get rid of them after 4 years.

[arubba]

This is a gotcha! You will be upset with yourself if you never use it but thankful you have it should you need it. Having been in the GM service world for a short while, I can only say the dealership likes its own brand warranty the best as it proves to be the easiest for them to deal with and the most flexible for them. I am saying that GM likes GMPP while Ford likes the Ford Warranty and so on. They may be more expensive and also I know that GM will discount their GMPP if you purchase it when the vehicle is under 12,000 miles. After that the price goes up. This is their way of twisting you arm to buy it early.

Using outside warranties at dealerships can be a pain in the A#@ for both you and them. If you choose an outside warranty, check with you dealer to see if they have worked with that company in the past and do they accept working with them. Some dealers may actually ask you to pay for service and wait for your refund from that outside (3rd party) warranty company.

Finally, with all the electronics that are included in new vehicles, make sure they are covered as well. Those outside warranties are sometimes very limited. (back to GM) Having to pay $400.00 for a window switch that also have to be programed to work is a real bummer if not covered........

[3ur-fe]

In canada is 7 yr/120 000mile (200 000km) for 2700$

the remplacement warranty is cover the thief and smash too

If stolen the truck in 2014 I have a new 2014 truck

[bowhunting tundra]

i puchased it for mine but it was like 1300.00 for 8 years or 120,000 miles

[BlownL67]

Having worked in a GM service department myself, stick with a FACTORY TOYOTA warranty. The price may seem a little steep at first, but when the 3/36 is all over with, 1 single repair could end up costing you at least several hundred dollars. Having an extended warranty is a good piece of mind thing because there nothing to worry about at all. If you decide to get one, do not go with an aftermarket (cheaper warranty company). When the vehicle comes in for service, the aftermarket company has to be contacted and approval has to be sought before any work is done, which is a HUGE hassle. All in all, get the warranty and dont look back. It may save you several hundred to several thousand dollars sometime in the near future.

[guapo]

I was told by the finance guy that I could purchase the extended service plan just a long as I do it before the 3/36 expires.

[BlownL67]

Originally Posted by guapo

I was told by the finance guy that I could purchase the extended service plan just a long as I do it before the 3/36 expires.

That is 100% correct!

[FredSG]

Hello again,

Thanks for all of the opinions on getting the extended warranty. The vote seems to be evenly divided. The answer to this question(s) will probably help me to decide.

With a new Tundra my warranty is (3 years) 36 months and/or 36,000 miles. If I buy the warranty for 7 years and 70,000 miles, does this mean I'm actually covered for 10 years and 106,000 miles? Or, is it actually 4 years and 34,000 miles I am getting by buying the extended warranty?

Can someone please explain the time and mileage to me.

Thanks,

FredSG

[BlownL67]

Originally Posted by FredSG

Hello again,

Thanks for all of the opinions on getting the extended warranty. The vote seems to be evenly divided. The answer to this question(s) will probably help me to decide.

With a new Tundra my warranty is (3 years) 36 months and/or 36,000 miles. If I buy the warranty for 7 years and 70,000 miles, does this mean I'm actually covered for 10 years and 106,000 miles? Or, is it actually 4 years and 34,000 miles I am getting by buying the extended warranty?

Can someone please explain the time and mileage to me.

Thanks,

FredSG

You cannot combine warranties. Its either 3/36, or if you purchase an extended, you got off those numbers.

[arubba]

Originally Posted by FredSG

Hello again,

Thanks for all of the opinions on getting the extended warranty. The vote seems to be evenly divided. The answer to this question(s) will probably help me to decide.

With a new Tundra my warranty is (3 years) 36 months and/or 36,000 miles. If I buy the warranty for 7 years and 70,000 miles, does this mean I'm actually covered for 10 years and 106,000 miles? Or, is it actually 4 years and 34,000 miles I am getting by buying the extended warranty?

Can someone please explain the time and mileage to me.

Thanks,

FredSG

It is one way or the other. Factory is 3 Years or 36,000 miles, which ever comes first. With the extended Warranty, of 7 years or 70,000 miles it is exactly that, 7 years or 70,000 miles from the date the vehicle is placed into service.

Extended Warranties have somewhat flexible selections available. If you only drive 10-15k miles a year, that would be 105,000 miles in the 7 years so you would terminate the 7/70,000 as soon as that 70,000 threshold was crossed. This would give you amost 5 years of warranty coverage, not the 7 because you will exceed the allowed milage. On the other hand, if you drive 25-30K miles a year, that threshold would be crossed in under 3 years. In the second case, it would actually give you almost twice the standard factory coverage according to mileage. (36,000 vs 70,000)

Select a warranty that works with your general driving habits.

Bottom line, should you have to replace an expensive item (motor, trans, etc..) after the standard warranty expires, the extended warranty will be well worth it.