Extended warranty

Toshi

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Mine came with a free life time powertrain warranty.
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PhantomCypher

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Anyone done the math on service plans? Based on suggested maintenance, I wonder what it would actually cost.
I was reading MotorTrend I believe and their long term car is running them about $600 a year in maintenance so far.
 

SneakylilPetey

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I purchased my 2021 3.0 Premium last month and added the extended warranty to 75k for $3500 through Toyota. I am sure this may have been asked before but have people had issues past the manufacturer’s 36k warranty? I have a few more days before I can cancel the extended warranty and get my money back. I am trying to decide it it is worth the money. $3500 seems like a lot for around another 40k miles. Also, I am wondering if people have had issues with getting things covered under the warranty. Thanks
I did the same thing when I purchased my extended warranty. A few weeks after I purchased it I decided to cancel it. I got all my money back since I was in the grace period for refunds before it goes down based on miles/time. My return went straight to Toyota finance as a nice principal payment on that car :)

If you want to cancel and get a refund, look at the warranty contract. All I had to do was sign a letter with the date and current milage along with the original contract. Mailed it in and got my refund within a week.
 
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dhcooper

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I did the same thing when I purchased my extended warranty. A few weeks after I purchased it I decided to cancel it. I got all my money back since I was in the grace period for refunds before it goes down based on miles/time. My return went straight to Toyota finance as a nice principal payment on that car :)

If you want to cancel and get a refund, look at the warranty contract. All I had to do was sign a letter with the date and current milage along with the original contract. Mailed it in and got my refund within a week.
I am glad I asked this group when I did. I should have done some research before I bought it regarding the extended warranty because they definitely sold me high on it. I managed to go into the dealership the other day and canceled it. Of course the guy wasn't too excited to have me sign the paperwork but who cares.
 

jmulk

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I was reading MotorTrend I believe and their long term car is running them about $600 a year in maintenance so far.
So the maintenance plan is well worth it as well then? Jennifer is such a godsend.
 

SneakylilPetey

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I am glad I asked this group when I did. I should have done some research before I bought it regarding the extended warranty because they definitely sold me high on it. I managed to go into the dealership the other day and canceled it. Of course the guy wasn't too excited to have me sign the paperwork but who cares.
I bet he took his sweet arse time too
 

BobbyC1221

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From what the salesman told me (he’s a family friend), it isn’t worth it. The only thing he recommend that I buy was the wheel/tire package. Damn glad I did because about a month in, got a nail in rear driver side. Replaced it with a brand new one for free.
Well, I pay about $10/month for the package but as long as there’s tread on all 4 tires and something is wrong with 1 -4 tires. No racing or any burn marks..etc just regular road driving, they replace it.

Absolutely worth it imo

the guy had absolutely no reason to lie to me about any of it. I get free oil changes for the entire time I keep the car and he sold me the car for $53k.
He wasn’t making any more money from that sale and those options don’t pay him.

I would def cancel it. Especially if you’re planning on doing any modding.
 

SpeedRacer

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I went with the 10/125 plan through Jennifer and it was super easy.

Personally, I’d rather pay a known amount up front vs chancing it all the way to 125K miles. I was thinking about it for a while but made my mind up when the dealer had to replace the electric power steering rack under 5K miles. I watched the tow truck leave with my 2021 MKV and walked back into the house to give Jennifer a call. 😝

Everyone has their own risk tolerance and opinion so do whatever best suits you and your expected future cash flows.

Good luck!
 
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dhcooper

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I went with the 10/125 plan through Jennifer and it was super easy.

Personally, I’d rather pay a known amount up front vs chancing it all the way to 125K miles. I was thinking about it for a while but made my mind up when the dealer had to replace the electric power steering rack under 5K miles. I watched the tow truck leave with my 2021 MKV and walked back into the house to give Jennifer a call. 😝

Everyone has their own risk tolerance and opinion so do whatever best suits you and your expected future cash flows.

Good luck!
Yikes. I had a 2014 BMW 535d prior to this and the A/C went out at around 40k miles. It was still under warranty and they fixed it. Total cost was around $5k that I would have to pay out of pocket. At around 45k miles, the electronic lock mechanism on my driver side door started malfunctioning and they fixed it under warranty. That would have been another $1k out of pocket. Bimmers are notorious for their electronics having issues so the piece of mind for an extended warranty is worth it IMO. Plus the price at which Jennifer is offering is amazing.
 
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I went with the 10/125 plan through Jennifer and it was super easy.

Personally, I’d rather pay a known amount up front vs chancing it all the way to 125K miles. I was thinking about it for a while but made my mind up when the dealer had to replace the electric power steering rack under 5K miles. I watched the tow truck leave with my 2021 MKV and walked back into the house to give Jennifer a call. 😝

Everyone has their own risk tolerance and opinion so do whatever best suits you and your expected future cash flows.

Good luck!
How much was the 10/125k plan thru Jennifer? Is it worth having the dealership you purchased from match or does it not matter who originates it?
 

SpeedRacer

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How much was the 10/125k plan thru Jennifer? Is it worth having the dealership you purchased from match or does it not matter who originates it?
I want to say it was a little over $3K.

TLDR: I wouldn’t bother asking the local dealer to match the price.


Way too detailed version…

You can ask your local dealership for their best price but it’s doubtful they’d get close. I negotiate a lot of car deals for families & friends and always advise them to buy discounted extended warranties through other dealers after years of trying to beat local dealers down on price (it’s easy to find dealers for Toyota, Honda,…by scanning owner’s sites like this one).

On my personal cars, I usually give the local dealer a shot (since I don’t have anyone else waiting on me to negotiate their deal) but I’ve never gotten one close to the prices I can find through dealers mentioned on the enthusiast websites.

PS as long as you buya Toyota extended warranty from aToyota dealer, it doesn’t matter where they’re located. I’ve bough Acura & Honda warranties through Hyannis Honda and My Supra warranty from Jennifer without issue.
 
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I want to say it was a little over $3K.

TLDR: I wouldn’t bother asking the local dealer to match the price.


Way too detailed version…

You can ask your local dealership for their best price but it’s doubtful they’d get close. I negotiate a lot of car deals for families & friends and always advise them to buy discounted extended warranties through other dealers after years of trying to beat local dealers down on price (it’s easy to find dealers for Toyota, Honda,…by scanning owner’s sites like this one).

On my personal cars, I usually give the local dealer a shot (since I don’t have anyone else waiting on me to negotiate their deal) but I’ve never gotten one close to the prices I can find through dealers mentioned on the enthusiast websites.

PS as long as you buya Toyota extended warranty from aToyota dealer, it doesn’t matter where they’re located. I’ve bough Acura & Honda warranties through Hyannis Honda and My Supra warranty from Jennifer without issue.
I appreciate the response. Super useful and informative!

One follow up question: how quickly after purchase of the vehicle can you buy the warranty does it have to be negotiated/pre-planned at signing?
 

SpeedRacer

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I appreciate the response. Super useful and informative!

One follow up question: how quickly after purchase of the vehicle can you buy the warranty does it have to be negotiated/pre-planned at signing?
I would double check with whoever you want to buy your extended warranty from, but pretty sure a Toyota extended warranty just needs to be purchased before the original 3/36 basic warranty expires. If you’re buying through someone like Jennifer, I’m pretty sure the price is the same throughout the basic warranty period.

Curiously, when I bought an extended warranty on an Acura, the dealer suggested I wait until just before the end of the basic warranty since Honda/Acura extended warranties are a little different if not bought when the car is considered “new”. Same coverage but the start dates differed. Pretty sure that’s not the case with Toyota but I’d check with Jennifer or your preferred dealer. I found her to be responsive to email and she didn’t pressure me to buy so you can email her with your questions if you just want to confirm.
 
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