Toyota Extended Warranty Thoughts and Opinions (1 Viewer)

[Hothonda]

My recent experience.....One Toyota dealer 5/60 Platinum -0- deductible on a 2015 w/21K miles $3480
Another dealer $2100 for the same exact product and vehicle.

So the dealer at $2100 is making money or he wouldn't be selling it - the $3480 dealer is predatory.
The explanation the $3480 dealer gave me was he punched in my Vin and that was the price & "the price is the price"
The explanation the $2100 dealer gave me was he punched in my Vin and that was the price & "the price is the price"

 

[kcruiser200]

My recent experience.....One Toyota dealer 5/60 Platinum -0- deductible on a 2015 w/21K miles $3480
Another dealer $2100 for the same exact product and vehicle.

So the dealer at $2100 is making money or he wouldn't be selling it - the $3480 dealer is predatory.
The explanation the $3480 dealer gave me was he punched in my Vin and that was the price & "the price is the price"
The explanation the $2100 dealer gave me was he punched in my Vin and that was the price & "the price is the price"

gotta love this!!!! rotflmao!!!!! but hey!!! at least that's lower than the $7985 deal that my local BMW dealer was trying to push on me for a 7yr/85K contract back when it was in for its 30K factory scheduled service!!!

 

[LCT]

I paid $2500 for a 5 year 40k mile EG Assurance warranty on a '13 with 14k miles. Now, if it was the Toyota Platinum warranty I would have been okay with it I think but has anyone used EG Assurance in the past? Are they easy to work with?

 

[Sandroad]

a. How many $3,000 warranties do the dealerships really sell that if you just set a fixed price with a reasonable profit margin you wouldn't make up for it?,
and
b. What's the "value" to dealerships of making the buying experience miserable for consumers? (Or conversely, what would the value be to your dealership if it made the *entire* buying experience pleasant and low-hassle?)

Nailed it. (In my opinion )

 

[rockymtn]

I agree with Eric for the piece of mind, and to me it's worth the cost

On my '17, I purchased the Platinum 8yr/125k warranty through Jennifer in this IN THIS THREAD HERE and thanks to to the AC RECIRC DOOR being broke by a tech installing a cabin filter, the $1,600 repair was covered by the warranty.

 

[JohnPW]

There will always be examples of folks getting more out of the warranty than they paid for it. But vast majority of warranty buyers WON’T end up getting their $ out of it....otherwise the warranty wouldn’t be offered. It is insurance...you buy insurance for those unexpected expenses you cannot afford to self insure. I am fine with the insurance company and agent making money on the homeowners, life, umbrella, auto insurance that I buy, because any of those claims could dramatically impact my finances.

For the middle class buyer of a new Rav 4 or Highlander, an unexpected expensive repair could cause them a financial crunch and may be worth insuring against. For the buyer of a new $85K land cruiser, you should be able to self insure repairs beyond the factory warranty without it significantly impacting your finances. In my opinion, if you can’t afford to self insure repairs years down the road, then you probably shouldn’t be buying a brand new $85K truck.

 

[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 a

1. 2018 SR5 4runner with a 6 inch Fabtech lift 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

DON'T DO IT !!!!!!

So as I have psted above here, I have own several Toyotas and purchased one warranty that never got used and when I purchased my 2018 LC 11,00 miles on her I opted out on the warranty but after driving this beast and realizing the electronics involved with her, that operated the 4 LO Crawl ect.. I have changed my mind and purchased a 7 year 125k warranty, I think the new LC 200's deserve a warranty

 

[kcruiser200]

So as I have psted above here, I have own several Toyotas and purchased one warranty that never got used and when I purchased my 2018 LC 11,00 miles on her I opted out on the warranty but after driving this beast and realizing the electronics involved with her, that operated the 4 LO Crawl ect.. I have changed my mind and purchased a 7 year 125k warranty, I think the new LC 200's deserve a warranty

agree with this if you plan on keeping it stock aside from wheels / tires etc. But I do believe it gets trickier once you start modding it. I guess bolt ons like slider and skids and such should be okay, however, once you get really into it like suspension lifts (altered geometry and warnings regarding the radar cruise control and collision avoidance systems on newer cruisers), long range tanks that involve added on electronics, dual battery set ups, etc - I think it gives more options for them to deny claims. They may not, but mods do introduce added variables that increase the risk of warranty claims being denied. Just my thoughts. BUt, if keeping it stock, then I completely understand the peace of mind that comes with an extended factory warranty.

 

[Fishinsea]

agree with this if you plan on keeping it stock aside from wheels / tires etc. But I do believe it gets trickier once you start modding it. I guess bolt ons like slider and skids and such should be okay, however, once you get really into it like suspension lifts (altered geometry and warnings regarding the radar cruise control and collision avoidance systems on newer cruisers), long range tanks that involve added on electronics, dual battery set ups, etc - I think it gives more options for them to deny claims. They may not, but mods do introduce added variables that increase the risk of warranty claims being denied. Just my thoughts. BUt, if keeping it stock, then I completely understand the peace of mind that comes with an extended factory warranty.

I have spoke to a few Toyota dealers about a 2 inch lift, they were not all concerned about that, but if you had a huge lift and 35's and heavy mods, I could see a denial coming I have OME bp51 set at 2 inch with 33 inch tires not much geometry has changed but the real reason I opted to get the warranty is the massive amount of electronics the LC200 has. they are not going to deny a claim because a back up camera or cruise o rlcd screen going out because of a lift

 

[M1911]

When I bought my 2013 Land Cruiser it was a CPO. The Lexus dealer that I bought it from wanted to sell me the Platinum warranty at list price. I didn’t bother negotiating with him because I knew I could do better elsewhere (I saved over $1k buying the warranty from Toyota of Greenfield).

I haven’t used the extended warranty. However, while my 200 was still under warranty I had the head unit replaced. I believe that would have cost at least double the extended warranty if I had to pay for it out of pocket.

So, was the extended warranty a waste? You be the judge.

 

[Fishinsea]

When I bought my 2013 Land Cruiser it was a CPO. The Lexus dealer that I bought it from wanted to sell me the Platinum warranty at list price. I didn’t bother negotiating with him because I knew I could do better elsewhere (I saved over $1k buying the warranty from Toyota of Greenfield).

I haven’t used the extended warranty. However, while my 200 was still under warranty I had the head unit replaced. I believe that would have cost at least double the extended warranty if I had to pay for it out of pocket.

So, was the extended warranty a waste? You be the judge.

I also save an enormous amout purchasing it at a different Toyota dealership, heck the dealership I bought it from was a few states away from me LOL

 

[Crush 4]

I also save an enormous amout purchasing it at a different Toyota dealership, heck the dealership I bought it from was a few states away from me LOL

Anyone have any updates on who is giving best prices on extended warranties Toyota warranties?

 

[Cruisin911]

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.

Just a data point but Porsche is consistently rated higher than toyota for reliability and dependability and numerous other quality measurements. Porsche should not be grouped with LR, BMW, MB, Tata, Jag..........

I had the platinum warranty on my tundra. Used it twice on a noisy idler whenever the AC kicked on. Wasn't worth it. Peace of mind was for the person I sold it to. It was the only warranty I ever bought and to be quite honest, if I didn't have the warranty I would have completed the fix myself.

Buy what is right for you and your family in your situation.

 

[40Man]

Just a data point but Porsche is consistently rated higher than toyota for reliability and dependability and numerous other quality measurements. Porsche should not be grouped with LR, BMW, MB, Tata, Jag..........

I had the platinum warranty on my tundra. Used it twice on a noisy idler whenever the AC kicked on. Wasn't worth it. Peace of mind was for the person I sold it to. It was the only warranty I ever bought and to be quite honest, if I didn't have the warranty I would have completed the fix myself.

Buy what is right for you and your family in your situation.

I guess my 2 pennies on this is I first give little weight to Consumer Reports and JD Power. There are no major awards testing for long-term quality. CR and JD base reports after 1 or 3 years without regard to mileage. The majority of Porsche owners I know put on very few miles per year, hence less likelihood for issues. I don't disagree they are more reliable than many other lux brands.

Based on actual repairs, Porsche is rated at the bottom according to a repair site:

Porsche Reliability - 2024 Ratings | RepairPal

How reliable is your Porsche? The 2024 Reliability Rating by RepairPal tells you how often major repairs are required and ownership costs.

repairpal.com

Long-term enthusiasts will tell you the same thing, even with the devotion.

A colleague has a Cayenne with 40k miles and a GX460 with 230k miles. He has complained about the Cayenne constantly. Evidently it has had multiple coolant pipe repairs (a known issue) with high costs. His GX has required 0 repairs.

My wife's step had has 3 Porsches. The 993 has had repeated valve guide issues. The 964 leaks a lot. The 996 has the intermediate shaft recurring problem. These are just recurring issues with the 3 cars my wife's step-dad owns, and the issues he mentioned, which he says are quite common. He still loves them.

Long-term (which there are no awards for) Porsche does not touch Toyota.

Edit, I guess he has four. Bought this one this summer, no issues yet!

 

[WCDAVE]

My dealer offered me the premium back if it went unused and I still owned the car at 75k. I guess they are banking on either me not keeping the car, or using the warranty in some form or another along the way. It is transferable to new owner if I sell the car too. To me the main risk in a warranty is if you don't end up using/needing it, so offering to rebate the premium if it goes unused addressed my main complaint.

 

[Chewbacca]

I guess my 2 pennies on this is I first give little weight to Consumer Reports and JD Power. There are no major awards testing for long-term quality. CR and JD base reports after 1 or 3 years without regard to mileage. The majority of Porsche owners I know put on very few miles per year, hence less likelihood for issues. I don't disagree they are more reliable than many other lux brands.

Based on actual repairs, Porsche is rated at the bottom according to a repair site:

Porsche Reliability - 2024 Ratings | RepairPal

How reliable is your Porsche? The 2024 Reliability Rating by RepairPal tells you how often major repairs are required and ownership costs.

repairpal.com

Long-term enthusiasts will tell you the same thing, even with the devotion.

A colleague has a Cayenne with 40k miles and a GX460 with 230k miles. He has complained about the Cayenne constantly. Evidently it has had multiple coolant pipe repairs (a known issue) with high costs. His GX has required 0 repairs.

My wife's step had has 3 Porsches. The 993 has had repeated valve guide issues. The 994 lseak a lot. The 996 has the intermediate shaft recurring problem. These are just recurring issues with the 3 cars my wife's step-dad owns, and the issues he mentioned, which he says are quite common. He still loves them.

Long-term (which there are no awards for) Porsche does not touch Toyota.

Edit, I guess he has four. Bought this one this summer, no issues yet!

View attachment 2560807

994?

 

[40Man]

994?

Haha, as you can see with other misspellings, my fat fingers mistype regularly. Fixed, it should read 964...pretty sure it is his favorite.

 

[Chewbacca]

Haha, as you can see with other misspellings, my fat fingers mistype regularly. Fixed, it should read 964...pretty sure it is his favorite.

That makes more sense.

 

[Noah Miller]

I bought the Lexus Platinum coverage a couple years ago on my CPO 15 LX570 for under $1000. Recently @ 70K my front passenger lock actuator and auto wiper sensor went out, totaling an estimated $2200 while the car was in for Fuel Pump recall.. Covered in full, so thrilled. I always knew the electronics would be an issue, not the mechanicals.

 

[Crush 4]

I bought the Lexus Platinum coverage a couple years ago on my CPO 15 LX570 for under $1000. Recently @ 70K my front passenger lock actuator and auto wiper sensor went out, totaling an estimated $2200 while the car was in for Fuel Pump recall.. Covered in full, so thrilled. I always knew the electronics would be an issue, not the mechanicals.

What was the initial price quoted on warranty?
Glad it worked for you.