Toyota Extended Warranty Thoughts and Opinions (1 Viewer)

[ocLC200]

Hello all!

I'm brand new to the forum and recently purchased a 2017 Land Cruiser in late January. So far, I absolutely love it! Looking forward to upgrading it in the future and will be spending a lot of time in the forums doing research.

Background on me I never buy extended warranties of any kind. However, as this is by far the most expensive vehicle I have ever purchased, I purchased the Toyota "Platinum" Vehicle Service Agreement [$2995 and covering 75k/8yrs] as the dealer pushed it hard on me and I knew that I could cancel it later. It is my understanding that LC are over engineered and designed to last 25+ years (why i bought it) which leads me to believe that maybe the extended warranty isn't needed. I plan on keeping it a long time. I wanted to get your feedback from those who are more familiar with this model and get a sense if there are any common issues with the 200 series where a warranty is needed.

Appreciate your thoughts.

 

[Supra88]

Hello all!

I'm brand new to the forum and recently purchased a 2017 Land Cruiser in late January. So far, I absolutely love it! Looking forward to upgrading it in the future and will be spending a lot of time in the forums doing research.

Background on me I never buy extended warranties of any kind. However, as this is by far the most expensive vehicle I have ever purchased, I purchased the Toyota "Platinum" Vehicle Service Agreement [$2995 and covering 75k/8yrs] as the dealer pushed it hard on me and I knew that I could cancel it later. It is my understanding that LC are over engineered and designed to last 25+ years (why i bought it) which leads me to believe that maybe the extended warranty isn't needed. I plan on keeping it a long time. I wanted to get your feedback from those who are more familiar with this model and get a sense if there are any common issues with the 200 series where a warranty is needed.

Appreciate your thoughts.

If I could choose any business to get rich off of it'd be selling extended warranties for Lexus and Toyotas. I certainly wouldn't do it for a 200 series.

 

[CharlieS]

I don't usually buy them, but I have for the last couple of Toyotas (both CPO with Toyota Platinum transferrable warranties). One vehicle I sold with the warranty and it made it easier to sell. I never had to use the one on my LC, but it was great peace of mind. Any major powertrain repair would easily cost more than I paid for the warranty.

 

[TLC2013]

When I bought my 2013 (80,000 miles) Last year I opted for the extended warranty sold through the dealership (warranty solutions) but recently canceled it after having it for only a few months.I was concerned with the usual trouble spots of the radiator, starter or something worse popping up on such a large purchase.
After a couple months of ownership I noticed the radiator had developed the typical crack on top. When I tried to have this replaced I was denied as the radiator had not blown or wasn't leaking coolant yet. Also the fine print listed that any modifications, even changing wheels or going to bigger tires, would void the Warranty Solutions contract. It had to go. I got 92% of my money back and used a portion of it to replace the radiator and few other parts like water pump... etc.
in hindsight I guess I got the piece of mind knowing that if something big like motor or tranny failed I would be covered.
To cancel it and get my refund took months. Like pulling teeth as most dealerships are running skeleton crews due to covid-19.

 

[Fishinsea]

I have owned Toyotas for many of years, I bought one once and never used it for the sum of around $2K
Currently I own

1. 2018 SR5 4runner and now at 40,ooo miles ZERO issues

2. 2019 Night shade Limited 4 runner, 7200 miles on it Zero issues

3. 2018 Land Cruiser that I have owned for about 2 weeks a little over 11,000 miles Zero issues but on the fence of buying one

 

[JohnPW]

Extended warranties are a huge profit center for dealers and warranty companies. So the math of them is that the vast majority of buyers will lose all or most of their premium without a claim. They never make financial sense unless you cannot afford to come out of pocket for a repair if one is needed.

Only exception is if you’re buying a notoriously unreliable vehicle, and the warranty isn’t priced to reflect that. There’s a video of a guy with like 15 repairs costing $15k on a Carmax warranty for his 2006 Range Rover.

You on the other hand have purchased one of the most reliable vehicles made. No way I would buy that warranty.

 

[FrazzledHunter]

I NEVER bought these warranties on anything EVER. Until now for my 2018 leftover I bought 11/2019. For some reason I got skittish (I think it was all the electronics) and bought the extended warranty and got the dealer to add a year (from 7 to 8) for the same price after I initially balked. It's like life insurance. If I knew exactly how & when I'm going to die I'd know exactly how much and when to buy it. I'll probably regret it but hindsight is always 20-20.

 

[LCtoLX]

Welcome to the forum, ocLC200. I’m pretty new around here too, although I’ve been in and around 4WD vehicles for some years and “into” cars for even longer.

One option that you may want to consider is shopping for a 3rd party MBI (mechanical breakdown insurance) and seeing how their coverage and premiums compare. I’m guessing that the prices will be lower but that’s just a guess. For our first three used vehicle purchases, I bought either platinum or gold coverage from 3rd party providers. After learning how reliable these series 80 and 100 cruisers turned out to be, I didn’t buy extended coverage for my 2018 LX that I got in late January. One advantage of buying insurance from the dealer, however, is that you won’t have to worry about a possible disagreement between the 3rd party insurer and a dealer that may say that you need a new transmission, for example.

And read the small print. If raising you LC or putting larger tires voids your warranty, it’s better to know that up front. Having to pay for that new transmission due to “excess stresses” from larger tires would be a pisser.

Cheers,
John

 

[TimCFJ40]

Extended warranties are like gambling at the casino. The house always wins. There will always be a few folks that have issues covered that cost more than the warranty. But the vast majority never get their premium value back. I've owned two cruisers (a 100 series and a 200 series) that were both well beyond the mileage limits that any extended warranty company would cover (327k and 225k respectively), and had basically zero issues. Both trucks had enough paperwork with them to see that even the original owners didn't spend $3,000 on items that would be covered under warranty. Pocket the $3k and save it just in case. in 7 years you'll more than likely still have your cruiser and $3k.

 

[ocLC200]

Thank you all so much for your feedback. I was leaning towards cancelling it. It also has the remainder of the factory warranty 10k mi/2.5yrs (was the dealer owner's car so clock on warranty started late last year with 26k mi) so that gives me some peace of mind. One note, I cancelled the prepaid maintenance program a few weeks ago and Toyota was great promptly sending me a check in about a week. Now on to more fun items to research: camping spots, lifts and trailers

 

[Sandroad]

Is the '17 a certified pre-owned Toyota? If so, you have good coverage for the length of that program.

The factory powertrain warranty runs for 60K miles, so you only get an additional 15K miles with the agreement you purchased.

There are better deals out there for price. See the thread below for some ideas on that. You should be able to get a much longer term for miles and years for less cost.

Only you can decide if this is a peace of mind thing for you. No one else can tell you how you feel about owning your Land Cruiser!

Where to get good deals on Toyota Factory Extended Warranty?

forum.ih8mud.com

 

[Sandroad]

Thank you all so much for your feedback. I was leaning towards cancelling it. It also has the remainder of the factory warranty 10k mi/2.5yrs (was the dealer owner's car so clock on warranty started late last year with 26k mi) so that gives me some peace of mind. One note, I cancelled the prepaid maintenance program a few weeks ago and Toyota was great promptly sending me a check in about a week. Now on to more fun items to research: camping spots, lifts and trailers

Hmm...I've not heard of the factory warranty starting with 26k miles. Check with Toyota on that and don't rely on the dealer's word. Or maybe I don't understand what you mean. But, if the implication is that full factory warranty will run for more than 36K+26K miles, double check that with Toyota.

 

[TeCKis300]

For a 2017 model year 200-series, I wouldn't bother for the following reasons:

- Land Cruisers are already exceedingly robust and built for a long duty cycle. It was already mature in terms of reliability and durability upon its release in 2008 and the test of time has shown it to live up to expectations.
- It's 9 years into its model year. They've had these years to further refine and work out many of the nits. Including radiator which was revised to remove a stress fracture leak. Updated starter and hopefully solenoid relay. And a host of other numerous detail improvements. It's also a couple years into it's mechanical transmission refresh which has prove to be durable.

There's always the off-chance of an unexpected failure. These vehicles are also expensive. The chances for the odd major failure are slim based on its track record however that I wouldn't bother with a warranty.

 

[ocLC200]

Hmm...I've not heard of the factory warranty starting with 26k miles. Check with Toyota on that and don't rely on the dealer's word. Or maybe I don't understand what you mean. But, if the implication is that full factory warranty will run for more than 36K+26K miles, double check that with Toyota.

It is strange, but because the vehicle was a "dealer's demonstrator car" and was never registered although it was driven for the past 2+ years (I am technically the first owner) -- but the mileage he drove does counts against the warranty. The benefit to me is that the service date for the warranty started 12/2019 so I'm covered for 3 years from that date, but I only have 10k miles left of the bumper to bumper warranty as I got it with 26k miles.

 

[ocLC200]

For a 2017 model year 200-series, I wouldn't bother for the following reasons:

- Land Cruisers are already exceedingly robust and built for a long duty cycle. It was already mature in terms of reliability and durability upon its release in 2008 and the test of time has shown it to live up to expectations.
- It's 9 years into its model year. They've had these years to further refine and work out many of the nits. Including radiator which was revised to remove a stress fracture leak. Updated start and hopefully solenoid relay. And a host of other numerous detail improvements. It's also a couple years into it's mechanical transmission refresh which has prove to be durable.

There's always the off-chance of an unexpected failure. These vehicles are also expensive. The chances for the odd major failure are slim based on its track record however that I wouldn't bother with a warranty.

Good points, thanks! What size Airstream are you pulling with your Land Cruiser? (Profile Pic)

 

[TeCKis300]

27FB model that measures 28' hitch to bumper. Would be similar to a 31' model by other manufacturers as they quote shell length, which excludes the tongue.

Dry weight around 6k lbs. Laden ~7500lbs.

Tows beautifully.

 

[Hothonda]

Hello all!

I'm brand new to the forum and recently purchased a 2017 Land Cruiser in late January. So far, I absolutely love it! Looking forward to upgrading it in the future and will be spending a lot of time in the forums doing research.

Background on me I never buy extended warranties of any kind. However, as this is by far the most expensive vehicle I have ever purchased, I purchased the Toyota "Platinum" Vehicle Service Agreement [$2995 and covering 75k/8yrs] as the dealer pushed it hard on me and I knew that I could cancel it later. It is my understanding that LC are over engineered and designed to last 25+ years (why i bought it) which leads me to believe that maybe the extended warranty isn't needed. I plan on keeping it a long time. I wanted to get your feedback from those who are more familiar with this model and get a sense if there are any common issues with the 200 series where a warranty is needed.

Appreciate your thoughts.

Was the $2995 for a -0- deductible Platinum plan or is there a deductible?

THX

 

[hankinid]

Hello all!

I'm brand new to the forum and recently purchased a 2017 Land Cruiser in late January. So far, I absolutely love it! Looking forward to upgrading it in the future and will be spending a lot of time in the forums doing research.

Background on me I never buy extended warranties of any kind. However, as this is by far the most expensive vehicle I have ever purchased, I purchased the Toyota "Platinum" Vehicle Service Agreement [$2995 and covering 75k/8yrs] as the dealer pushed it hard on me and I knew that I could cancel it later. It is my understanding that LC are over engineered and designed to last 25+ years (why i bought it) which leads me to believe that maybe the extended warranty isn't needed. I plan on keeping it a long time. I wanted to get your feedback from those who are more familiar with this model and get a sense if there are any common issues with the 200 series where a warranty is needed.

Appreciate your thoughts.

Why do you suppose that the dealer PUSHED IT HARD on you? If the truck were a Rover, Porsche, BMW I probably would have taken a warranty. Not on a Toyota or Lexus.

It's sucker bait just before you leave the dealership. You'll get the peace-of-mind bs as a selling tool.

 

[jeproks]

That 8yr/75k warranty can be had for $1175 from Troy Dietrich

 

[LCtoLX]

That 8yr/75k warranty can be had for $1175 from Troy Dietrich

?! Sounds great.

I think I’ll ask for a quote for my ‘18 LX. If they’ll cover most everything for another 6 years at a similar price, I’ll go for it.

Thanks,
John