Toyota Extended Warranty Thread U.S.(negotiated price list)

[Bluey]

I can read more into it, but since I’m in a “room full” of folks who’ve done it - figured I’d take the easy (wise?) route and ask. lol

lol, good question. No worries, I also haven’t done it yet as I’m still waiting for my LC to arrive. You can add it anytime during your initial factory warranty. It can be purchased from any Toyota dealership. It is also transferable if you sell your LC before the warranty expires.

 

[ucantgettherefromhere]

Here's the newb question for all the others who probably want to know - why the warranty?

I'm interested in investing in a good deal, but I definitely don't want to pay for something that's more hassle than it's worth. Is the VSA worth it?

Hi. Just got my FE and thus far did not opt for extended warranty. I sold my heavily modified ‘19 4Runner with 244k miles, also no warranty. Thankfully it was completely trouble free. The only car I ever purchased an extended warranty for was a second gen Prius, my thoughts were the hybrid system was fairly new with lots of stuff to break. Used it literally the same week I sold it. The AC went out. $900 for new compressor, didn’t cover the cost of the warranty but I didn’t have to come out of pocket for it either. The warranty was transferable and that was a big plus in selling.
Basically it’s a gamble, you’re betting it’s gonna break they’re not. These things make money, lots, for the entities selling them, so most likely don’t recover what they cost. The positive is it a plus for resell and you don’t have to come out of pocket for repairs. The downside is you likely won’t recover what you spend, maybe that’s good, it means your car didn’t break. Consider your financial position, if it would hurt you to come up with say 10k out of pocket then I wouldn’t do it.

 

[Bluey]

Hi. Just got my FE and thus far did not opt for extended warranty. I sold my heavily modified ‘19 4Runner with 244k miles, also no warranty. Thankfully it was completely trouble free. The only car I ever purchased an extended warranty for was a second gen Prius, my thoughts were the hybrid system was fairly new with lots of stuff to break. Used it literally the same week I sold it. The AC went out. $900 for new compressor, didn’t cover the cost of the warranty but I didn’t have to come out of pocket for it either. The warranty was transferable and that was a big plus in selling.
Basically it’s a gamble, you’re betting it’s gonna break they’re not. These things make money, lots, for the entities selling them, so most likely don’t recover what they cost. The positive is it a plus for resell and you don’t have to come out of pocket for repairs. The downside is you likely won’t recover what you spend, maybe that’s good, it means your car didn’t break. Consider your financial position, if it would hurt you to come up with say 10k out of pocket then I wouldn’t do it.

That’s a good point. Both of your previous vehicles were also made in Japan like the LC. I do believe that even within the last few years vehicles have become increasingly more complicated. Meeting emissions standards, squeezing more power out of smaller displacement engines (higher compression), using lighter metals, direct injection, turbos, more technology, hybrid tech. Add to that pushing out required maintenance intervals (miles between oil changes, coolant replacement, transmission services, etc). Still it’s not quite the same vehicle with the naturally aspirated conservatively tuned motors Toyota built their reputation on.

I see the VSA in a similar fashion as car insurance (which makes a lot of money for the insurance industry) that most people will not use. Haven’t had to file a claim on any of them, thankfully. It’s a lot of money each year. If we got into a wreck there is a lot of liabilities, medical bills, lawsuits, and repairs. Best case scenario just vehicle damage that costs 5-10k, worst case multiple injuries (100k medical bills), totaled 50-70k vehicles.

Thanks to the information from this thread, the VSA will hopefully only cost a little over 2k for ten years 100k miles. Seven years and 64k miles of post factory warranty coverage comes out to about $315 for each of those seven years. For me it’s just another insurance. Hopefully will never need it but the piece of mind of not having any surprise 10k repairs is worth $315 a year to me.

 

[LAR]

I appreciate your answers.

It's a gamble. And, just like a casino - the algorithm is always against the customer, or the company wouldn't be in business.

But this is a bet you're hoping the house wins on.

I'm unsure what I will do, but I'm happy to have options, time, and more understanding based on your insight.

 

[jmo]

Do VSA warranty prices generally go up or down with mileage? Like is there any benefit to purchasing the VSA warranty as soon as possible when mileage is low, or does waiting towards the end of the factory 3 year change the price?
Thanks

 

[Bluey]

Do VSA warranty prices generally go up or down with mileage? Like is there any benefit to purchasing the VSA warranty as soon as possible when mileage is low, or does waiting towards the end of the factory 3 year change the price?
Thanks.

Really good question. I really don’t know for sure. From what I’ve gathered it costs $6500 full retail (don’t pay that, reference the negotiated price list) for 10yrs 100k miles Platinum no deductible. Again I don’t know for sure. So I don’t know how much that price will change each year. From what I understand you can add it up until right before your original factory warranty expires. With that in mind it seems like the price technically should be the same whether it has 5 miles or 35k miles on the odometer. So I think the mileage doesn’t have any influence on the price. But each dealer will probably tell you something different and will try to sell it to you for even more. Again I don’t know for sure.

For me, I am getting it within the first month. Either the dealership gets the opportunity to match the best price in the list or I will call someone on the list and buy it from them. My reasoning is that the warranty has the same start date (date of vehicle’s original purchase) whether you buy it day one or two years later. I’m doing this because my guess is that it might be more expensive in two years due to regular inflation. Even if it’s just above cost. Hopefully someone who knows better will chime in here.