Extended Warranty Debate

[msommers]

I just put a deposit down on a 2007 4Runner. There isn't much powertrain left, only until mid December. Of course the guy talks about extended warranty. Given that it's a 4Runner, I sluffed it off and took the brochures. Now that I'm at home, I'm considering it.

There is the possibility of putting down an initial $100 for a "Don't use it, don't use it" policy in that if I don't claim anything on the warranty, I'll get the amount paid back in full minus $100.

The more I think about it, the more it seems worthwhile. But getting some consensus from others I feel is a good idea.

There are two options: Their Toyota extended plan or the FCPP, a third-party company which covers more for the same price.

[max_boost]

How much is the warranty?

The $100 clause is interesting. So basically if you don't use the warranty over the period, you get your money back less $100. Is that just a Toyota thing?

[That.Guy.S30]

It's all about peace of mind. All it takes is one lemon. Granted that it is a Toyota, but sometimes it's worth the extra coin. Just make sure it's got decent coverage.

[Canucks3322]

Originally posted by max_boost
How much is the warranty?

The $100 clause is interesting. So basically if you don't use the warranty over the period, you get your money back less $100. Is that just a Toyota thing?

I got offered this buying a 2004 350Z from Brasso...it's a good deal I think if you plan to keep it long term, I wasn't so I declined.

[rage2]

There's a big difference between factory extended warranty (which is honored at all dealerships like normal warranty) and 3rd party warranty, where you pay first, then get reimbursed minus deductable. I would never buy the 3rd party ones.

[AE92_TreunoSC]

I've seen 3rd party pay for huge ticket items without much fight with the owner. I personally don't like them or their deductables. However for piece of mind I don't blame people for choosing to use one.

[corsvette]

I'd go for it. This is a 07 4runner not a 97, they are far more complex and expensive to fix now. The warranty will pay for itself first time its used.

[Twin_Cam_Turbo]

I deal with extended warranty a bit through work, I would say a factory extended warranty such as GMPP for GM might be worth it but I don't think 3rd party ones are really.

[jsn]

I'm in the exact same position. Just signed on a 07 frontier and I have until tomorrow night to decide if I want an extended warranty.

[M.alex]

Buy an extended warranty from SDS - when I thought aobut purchasing a XLR-V they wanted $22k for a 3yr warranty, LULZ

[Redlyne_mr2]

3rd party warranties are only as good as the dealer that sells it.

[Twin_Cam_Turbo]

Originally posted by M.alex
Buy an extended warranty from SDS - when I thought aobut purchasing a XLR-V they wanted $22k for a 3yr warranty, LULZ

Haha we sold a GMPP one to a customer that was a 3 year for $5000.

[Sugarphreak]

...

[Sorath]

3rd party warranties are fine as long as they are sold by dealerships. Sometimes they cover more than the factory warranty. Also with FCPP plans whichever deductible you choose if you go to the originating dealer where you have purchased the warranty they waive $50 for your deductible.

So for example if you have $100 deductible it will be $50