Just bought a 100 \ extended warranty?

[pnwfj]

I just bought a 100 and now I'm debating the warranty issue. For 1.7K I can get the Toyota warranty on the truck out to 100K miles. The truck has 68K miles on it right now. I paid 22.5K for the truck. It's a one-owner truck and it's in great condition. Based on what I've read I'm thinking I should fork over the 1.7K for the truck. Oh, it has a new NAV system in it - the last one broke. So... NAV should be OK. Thoughts?

[2000 LX 470]

I'm no pro on this, but my thoughts would be:
How many miles do you drive a year? If 20K, then you're basically betting that you'll have > $1700 in covered repairs in the next year and a half. Give that it has new nav, and isn't hte year that had the transmission issue, I'd prob lean away from it. If it's a 3rd vehicle and you drive 5K per year, that may yield a different answer. But overall, if it's been maintained well and all maint is up to date, I'd be shying away from dropping that kind of jack on a warrant for a mighty strong truck.

Just my .02.

And congrats on the 100!

[steenh]

I'm no pro either, but I have never purchased an extended warranty and am old enough and have owned enough cars that I am many $000's ahead that way. You are betting that you'd have $1.7k of covered repairs... and Toyota is betting that you won't. They are in this for a profit, so what that tells you is that odds are you won't have $1.7k in repairs. They are pretty good at making money.

Health insurance is another story... you bet wrong there, you could be bankrupt. Absolute worst case on this truck is $22.5k if it self combusts.

That's just me... I know lot's of people like the peace of mind and $1.7k is pretty cheap peace of mind.

Oh... this is a 100 too... they do last. Congrats.

[hoser]

By paying $1700 up front, you are saying in the next 32k miles, there's a:

100% chance of $1700 in qualified warranty repairs (1 to 1 payoff)
50% chance of $3400 in repairs (2 to 1 payoff)
25% chance of $6800 in repairs (4 to 1 payoff)

Of course, there is peace of mind with the warranty. Personally, I wouldn't get it but if I was buying a Land Rover, that's a different story.

[pnwfj]

That's 3 nay votes. I'm starting to lean away from it - 1.7K might not seem like a lot of money but it's just about 8% of the cost of the vehicle and a couple cool accessories. I'll drive the truck approx. 10K miles per year.

[pnwfj]

Does an OME lift void the warranty?

[Trunk Monkey]

Most manufacturers have a statement that's something to the affect of if the aftermarket part caused the damage, they won't cover it. So, if you added aftermarket exhaust and your water pump failed, there's likely no connection. But, I've heard of some auto makers getting really sticky about making a connection on mods.

Also, dunno about your insurance, but my comprehensive can be used for anything. So, rather than a vehicle warranty I would fall back on that for something catastrophic.

[pnwfj]

Thanks for the tips Trunk Monkey.