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Thread: Extended warranty and/or Extended service contract - worth it?

  1. #1

    Default Extended warranty and/or Extended service contract - worth it?

    I bought my 2016 Tundra SR5 at the very end of 2015. I got the standard 2 year/25,000 mile service plan and the standard warranty (whatever it is). As of yesterday, I just hit 25,000 miles, so I'm due for my last free ToyotaCare Service.

    I recall seeing an email, a while back, saying that I could extend the service plan at any time before two years or 30,000 miles. Sadly, the link in that email has expired, so I can't check the details.

    I'm also thinking that I should find the paperwork to see what warranty I have left.

    This is the first new vehicle that I've ever bought, so I'm not very familiar with warranties or service plans, let alone extended ones.

    So, I'm hoping that some folks who are very familiar with them will help me make a decision.

    We can assume my mileage will be the same, give or take and that I'll keep it for either three years or five, from date of purchase.


  2. #2
    Join Date
    Aug 2006
    Chicagoland, Illinois, USA
    Blog Entries


    Be prepared for a ton of wildly conflicting advice. I'll offer my personal experiences buying my last two new cars:

    Bought a 2001 Chrysler Town and Country minivan, came with 5 yr/50,000 mile warranty. The van was a royal lemon and, in addition to very many problems (window motors died, bad shocks) the transmission needed replacement at 62,000 miles. (Found someone to rebuild it instead for $2100.) Had I purchased any warranty extension at all, it would have saved me frustration and a little bit of money.

    Bought a 2013 Ford Fiesta. Based on previous burn, I spent ~$1500 doubling the warranty from 3/30,000 to 6/60,000. Almost immediately (10,000 miles) it was revealed that the model I bought had a design flaw in the clutch assembly and became undrivable. Dealer wouldn't fix it because it needed to break beyond a certain threshold in order for Ford to authorize and reimburse the dealer for a new clutch assembly. I finally complained on social media and amazingly Ford stepped in and made it right, and I had the clutch assembly replaced. Two years later, it happened again, same process, finally same replacement. Then, to their credit, Ford sends me a letter acknowledging the bum design and extended the warranty on the entire drivetrain -- for all 2013 Ford Fiestas -- for 10 years/100,000 miles. So, my extended warranty purchase has not saved me any money so far, and never will if nothing else goes wrong.

    I purchased new cars because of the warranty: I wanted to not worry about the car while I was still making payments on it. Someone clued me in to the fact that Carmax lets you buy warranties on their used cars, so our most recent car purchase earlier this year was at Carmax, and I paid $1600 for a 5yr/+50,000 on the car (ie. 50,000 miles past what was already on the odometer). I felt I got the best of both worlds: A lightly used car at not too much more than KBB value, and a warranty so I don't have to worry about it while I'm paying it off.

    Summary: I am mostly in favor of extended warranties.
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