Shopping for an extended warranty

[JustAnotherDingus]

Hey folks! I searched around for a thread on this. May have missed it?

Anyway I’m wondering who has gotten the big fancy extended warranty and if so what did you pay for it and who did you get it from?

I’m picking up my truck within a week and I’d love to have some quotes or info to show my sales guy so we can price match possibly, or if not, I’d love some dealer/sales rep contact info so I can secure the warranty on my own time after the purchase.

Thanks in advance!

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[Franko Manini]

As far as I can tell, the ONLY extended warranty even close to worth it's cost is the Toyota Extra Care Protection (ECP). I bought the 7year, 120,000 km (I'm in Canada) and it wasn't cheap, but I drive one of the hybrids, and with the transmission issues and general vehicle complexity, I thought it was good insurance.

Don't get caught up in all the marketing speak about what's included and such. That's not important. What's important is what is NOT INCLUDED. Make sure you read that carefully and that you're okay with it. basically, anything that can wear out or be damaged by use (think glass, lenses, door seals, etc.) isn't going to be covered.

I got mine for a discounted rate because I have a a dealership connection. But never accept the first rate they put out there. It's always negotiable.

For 7 years, I now get Toyota Roadside Assistance which means I don't have to buy that through my insurance. Also the first 6 services (two years) are covered. So that's some of the money back for certain. I also get tire insurance which I have needed in the recent past. So I factored those into my calculations.

What I paid for it isn't important (especially since I'm in Canada and the plan is likely different here in both scope and cost) and I got a decent discount from knowing some folks. You need to do the math for yourself and determine if it's worth the price. Try to figure out how much risk you're willing to accept with your new vehicle, and then see if the plan offsets that risk (though the scope of coverage) and if the cost of that mitigation is acceptable for your circumstances.

One more thing to add. I would NEVER buy a third part extended warranty on a vehicle. They will want to use the cheapest parts they can find, will only pay a portion of the repair though service limits and deductibles, and they will probably cap service rates. All very bad things. The Toyota warranty uses ONLY genuine Toyota parts, has no deductibles, and has no hourly rate cap since they use their own technicians.

here is a link to the Canadian plan:

https://www.toyota.ca/toyota/en/owners/warranty-and-coverage/supplementary

 

[JustAnotherDingus]

@Franko Manini thanks for such a detailed thoughtful response!! This is so helpful!

I have a good deal with AAA for roadside stuff rn so im good there. Copy that on the trim and seals etc and watching for what is not covered as I review everything. I’m deff looking to do a Toyota plan not third party.

for me it’s wanting coverage on the larger ticket items for wear and tear purposes. I am someone who definitely will fall in the heavy duty use cycle for this vehicle so I want to have as much as possible covered. When I’m on a gig I drive between 300-1000 miles in a single week. it adds up so quick.

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