Extended Warranty

[AndrewTK]

I know there will be a range of opinions on this topic but wanted throw out some thoughts on this. We purchased a Land Cruiser with the premium package over the weekend and naturally the guy in finance tried to sell us every form of protection imaginable for the vehicle. We politely declined (then had to decline again less politely) and completed our purchase. We previously drove our 4Runner for 10 years and ~110,000 miles with no unexpected repair costs along the way but it was admittedly a simpler vehicle that the LC250. I started doing a bit of research and learned that the warranties are actually backed by Toyota (this may be common knowledge but I was unaware), this made the idea more interesting as claim processing is likely much easier that it would be with a 3rd party warranty. At the dealer we were offered the warranty for a ridiculous price (the 10 year/100k mile warranty was offered at $6,500), after some digging on the forums I found several contacts at dealers that sell the warranty a very low markups. I reached out to several and heard back relatively quickly from Jerry Johnson at Midwest Toyota in Kansas, he quoted us the 10 year/100k package at $2,230. At this price I am interested in doing it as it seems to be good value for the term/mileage, anyone else hopped on a similar deal or do you think this is lighting money on fire?

 

[turbo8]

I know there will be a range of opinions on this topic but wanted throw out some thoughts on this. We purchased a Land Cruiser with the premium package over the weekend and naturally the guy in finance tried to sell us every form of protection imaginable for the vehicle. We politely declined (then had to decline again less politely) and completed our purchase. We previously drove our 4Runner for 10 years and ~110,000 miles with no unexpected repair costs along the way but it was admittedly a simpler vehicle that the LC250. I started doing a bit of research and learned that the warranties are actually backed by Toyota (this may be common knowledge but I was unaware), this made the idea more interesting as claim processing is likely much easier that it would be with a 3rd party warranty. At the dealer we were offered the warranty for a ridiculous price (the 10 year/100k mile warranty was offered at $6,500), after some digging on the forums I found several contacts at dealers that sell the warranty a very low markups. I reached out to several and heard back relatively quickly from Jerry Johnson at Midwest Toyota in Kansas, he quoted us the 10 year/100k package at $2,230. At this price I am interested in doing it as it seems to be good value for the term/mileage, anyone else hopped on a similar deal or do you think this is lighting money on fire?

Fyi standard Toyota hybrid warranty:

Hybrid Warranty​

Starting with the 2020 model year, every Toyota hybrid battery warranty is being increased from 8 years or 100,000 miles, to 10 years from date of first use, or 150,000 miles whichever comes first. * This enhancement serves as an indication of our confidence in the quality, dependability, and reliability of our products. * On top of our basic coverage, we offer:

Hybrid-Related Component Coverage
Hybrid-related components, including the HV battery, battery control module, hybrid control module and inverter with converter, are covered for 8 years/100,000 miles. The HV battery may have longer coverage under emissions warranty.* Refer to applicable Owner’s Warranty & Maintenance Guide for details. *

Powertrain Coverage
60 months/60,000 miles (engine, transmission/transaxle, front-wheel-drive system, rear-wheel drive, seatbelts and airbags). *

Rust-Through Coverage
60 months/unlimited miles (corrosion perforation of sheet metal). *

Emissions Coverage
Coverages vary under Federal and California regulations. Refer to applicable Warranty & Maintenance Guide for details. * *

For Toyota hybrid vehicles beginning with model year 2020, the hybrid (HV) battery is covered for 10 years from original date of first use or 150,000 miles, whichever comes first. * Coverage is subject to the terms and conditions of your New Vehicle Limited Warranty. See Owner's Warranty and Maintenance Guide for details. *