Extended warranty

Hi guys,

I’m new to the forum. I want to buy a used 2022 4Runner that might come with a 1 year cpo warranty. Would you all recommend an extended warranty? I’m coming off a premature and expensive to fix blown motor on a GM product so I guess I’m feeling gun shy.
Thanks,
Gregg

 

It was a GM, what'd you expect? Toyota's are know for going 200-300+k miles without any hiccups. That's not to say that they don't break down or have issues, but the percentage is a lot lower. Get the extended warranty if it gives you peace of mind, but I'll bet you $20 that you never use it.

 

In general, extended warranty only worthwhile when it is directly from the manufacturer and not a third-party one.

Specifically to 4Runner, I think you are into over-correction territory by buying one of the most reliable trucks AND extended warranty. Instead, the better approach is to examine your past decisions and see what you could have done better, as was there anything you could have done to prevent or postpone blown motor?

 

In my experience 4Runners are very reliable, for 11 years driving my old 2010 SR5 I replaced just a Neutral switch which corroded beyond repair. Reading 4Runner forums I can see that most of the issues usually happen when people mod 4Runners. If previous owner properly did break properly, never did any mods, exercised 4x4 for 10 miles every month (for non-Limited) and changed oil regularly I wouldn't expect any issues. X-Reas on Limited known to fail eventually, but not sure it it will be under extended warranty. Once in a while people still have some issues, but it more like exceptions. Who knows, maybe you'll get unlucky with that particular truck you're about to buy and extended warranty will pay for itself.

 

My 2022 is still under the CPO warranty, but my front differential was replaced at 27K miles. Guessing that would've been pricey if the vehicle was out of warranty.

 

I bought the Toyota Platinum extended warranty for piece of mind with all the electronics. Never needed or have had a extended warranty before. Odds are you won't need it with Toyota, but you never know. Another option is save the money putting it in savings for a repair if it happens.

 

Was about to ask the same question. New owner of a ‘24 TRDPro and the dealer offered the platinum with the cargo cover and mat I want for what I think is reasonable price considering the cost of repairs these days. Getting it just for peace of mind cause I want the assurance. I don’t have the best of luck when it comes to new purchases.

 

Things always can happen with any vehicle but it all comes down to coverage and price if you want to math it but good chance you’re paying for the privilege of either nothing happening or an argument later.

I’d lean heavily towards not getting it though, there’s not too much I’d expect to go wrong and you still have the 5 year/60k powertrain warranty.

(and maybe a smidge of the 3 year/36k new vehicle bumper-to-bumper since my 2021’s expired earlier this year.)

 

I purchased a warranty on my 2018 TRD ORP. My A/C system died at around 38k miles (bad compressor and all the refrigerant leaked out) so the warranty paid for itself with that one repair. I just purchased a 2024 TRD ORP and purchased a 10 year 125k warranty for piece of mind. Enjoy the 4runner if you decide to buy it!

 

I got it because there can still be issues I don't want to pay for such as faulty lock actuators. On my Tacoma, the extended warranty got me new headlights, leaf springs twice, prop shaft and windshield resealing.

 

I got the extended warranty. One medium-sized repair in ten years and it will have paid for itself, as others have noted.

 

An extended warranty benefits the seller, on average. If extended warranties benefited the buyer, the seller would go out of business. So, it is like insurance. It only works because there are fewer claim costs than there are "premiums" paid. The warranty company exists because they pay out less in repairs than they take in in sales.

I used to work for one of the largest dealer networks in the United States, as a claims adjuster, handling extended warranty claims. Toyota has as many claims as any other brand (that may be an exaggeration, but my real point is they have many more extended warranty claims than people generally think they do). Toyotas are not reliable. They may be "more" reliable than some other brands, but not by much. I used to get multiple claims on Toyotas every.single.day, day after day after day.

That being said. An extended warranty is very seldom a good deal for the buyer. If it was, the extended warranty company would be out of business.

If you are going to buy an extended warranty, PLEASE do your research. Read the fine print. The exclusions are numerous, and there are many "wear" items that you would normally think are covered but are not, and many of the plans exclude certain electronics. Know before you buy, AND THEN, haggle the hell out of the price. The extended warranty price can typically be cut at least in half. If they want to sell it for $3,500, you can probably get it for 1/3 of that, no joke, a pretty good price on a $3,500 warranty would be $1,200.

 

Yep, even factory warranties can be a pain when your engine blows, it’s weeks on back order, no loaner or rental, Hyun/Kia only reimburses $40/day for rentals, and then it’s put back together by a technician that only comes out kinda ahead if corners are cut. You’re gonna have to pay for parts/installation of any gaskets and belts not included too.

It’s for home appliances, not a car but SharkNinja is a weasel, claiming that every single part of their vacuum is a wear item except the motor.

The manual states that consumables include the dust filters, etc. Rep says the “etc” covers everything else (which violates the MM Act part about ambiguity favoring the consumer) and attempts to sell me a part plus shipping, then half price, then shipping, then the part replacement was finally free as it should have been.

Wouldn’t be surprised if most third-party warranties end up like that.

It worked out for an old coworker of mine when his 2.3 EcoBoost blew but man it took a while to get fixed.

 

Do what your conscious tells you but if you are going to do some mods, remember that they can void areas of the warranty.

 

Mind if I ask what was the cost for the platinum?

 

Mind if I ask what the cost was?

 

I paid $2500 at the dealer when I bought the truck...I think their 'list price' was $4999 for 10 years/125K

my dealer also mentioned if I wanted lower cost warranties, they had some from non Toyota companies...

I responded with 'how many warranties can I use at the same time?' and mentioned I could buy the 10 year/125K online for ~$1800 at another Toyota dealership

I passed on the GAP, credit life, tire/wheel, and key insurance though...

how much is your dealer trying to charge you?

 

They offered $3.6K with NYS tax and throwing the cargo cover and mat for the Platinum 8 years 100K miles. Sounds like I’m gonna have to shop around!

 

You can buy it from any Toyota dealer. I got mine from Jerry listed in this thread.

https://www.4runners.com/threads/toyota-extended-warranty.31880/

 

Paid 1100 dollars for the 5 year Platinum. Paid for itself at 41,000 mi. Transmission work and a free car to drive while they worked on it. Have enough random electronic glitches that I'm glad I have it.

 

you can buy the cargo cover for $104 from lewis toyota...they don't collect sales tax, and often have free shipping too
https://autoparts.lewistoyota.com/products/product/cargo-cover-black-pt31189100

The mat is different if you have the cargo tray or not, but a little over $100 online...

these prices are from March, there are at least two toyota dealers I've found on toyota forums that actively seek out selling online warranties
just call the dealership and say I want to buy an extended warranty and get put right thru to the online sales guy

this was a price list I saved back in March 2024, they charge an extra 3% for credit cards, and sure the prices have gone up...

like others mentioned, take a close look at what's covered...and more importantly, what is not covered