Is the Toyota Extra Care and Tire&Wheel protection worth it?

Is the Toyota Extra Care and Tire&Wheel protection worth it? Recently bought a 2018 Tundra 1794 Edition with TRD offroad package. We were offered these plans but I declined. I do have the ability to still add them but have to make decision today. They were pricey. The 7 year/100k extra care plan is $2200. The Tire&Wheel protection is $996. So looking at $3200 for both. I still have the 2 year maintenance. The 3year/36k comprehensive. The 5 year/60k powertrain warranty. Need some opinions.

 

Most dont do it because they dont have issues.

I did it and I have never had issues but like the insurance on it just in case.

I spent 50,000 on a truck so I thought another 2000 wasn't a big deal over a three year loan and a 5 year ownership or longer.

Tire and wheel I never got because I know most are pro rated and I go through tires out of bad driving habits I know I get a new set about every two years any way.

 

I never do because I have trust in Toyota products. Over the last 20 years I have owned 4 Toyotas and 3 Hondas. I declined extended warranties on all of them, and have never needed it. So, at $2,000 each I have 'saved' $14,000 in extended warranties that I fortunately never needed. Even if I have to get a major repair of say $5,000 I am still $9,000 ahead. I should have put that money in a dedicated savings account - but that's another story.
I will never get the wheel and tire warranty. Those are prorated, and it cost as much as a set of tires. Doesn't make any sense to me.

If the plan includes services and other maintenance, it doesn't really save you anything over the actual cost of the services, so no need to do that either.

Now, on a Chrysler product....I will never buy one of those without an extended warranty. Expensive experience there.....

 

Nope. They try to be real sneaky when you get to the paper signing room. I never let them add anything on top of the out the door price I've already negotiated and settled on

 

I rather get new rims and some 34’s with that money

 

For a Toyota, this is a pure money maker for the dealership and warranty company. They have business models that factor in how much they've had to pay on issues. If people really had to use them, then they wouldn't make any money and wouldn't offer them. Reward is MUCH MUCH higher than the risk. I prefer to use the money for repairs as needed and modifications. But that's me. Some people like the security and that's fine. Just not for me.

 

Not really worth it.
I've never added any of that and have not found myself wishing I had gotten it. Save the money and put towards your first mods

 

Not 100% related, but I think close enough. We recently bought my wife a new van, and when we went to sign, they offered that. I looked into it while I was there...and HONDA....offered it where it was only a few hundred, and covers doing paintless dent repair on body, replace/repair wheels if damaged in accident like hitting a pothole, replace/repair tires if accidents like punctured tire from nails or nailing a curb. The icing on cake for me....they do it with aftermarket wheels and tires as well. As long as we own the vehicle, they'll do it. When I bought my tundra, I don't believe mine offered it like that, so I declined since I'm doing aftermarket wheel/tires very soon. Not sure if it varies per dealership, but mine didn't make it beneficial for me, so I personally declined.

 

Not in my opinion...

 

X2

 

Thanks everyone. Pretty unanimous. I will use that money for mods like you guys. I appreciate the time.

 

Four points I would like to raise regarding the Toyota Extracare extended warranty - particularly the platinum zero deductible plans.

1) You don't have to purchase it at the same time you purchase the vehicle. You can purchase it at any time up to the end of the regular vehicle warranty (which I think is 3 years/36K miles)

2) You do not have to buy it from the selling dealer. You can buy it from other dealers for *much* cheaper. I got a 10 year, 125K Toyota ExtraCare Platinum Zero deductible warranty for less than $2100 on my 2019 Crewmax.

3) If you sell your vehicle before the extended warranty expires, you can get a pro-rated refund for the unused portion. In 2015, I bought a Tacoma and bought the extended warranty. Then, I unexpectedly decided to trade it in for a 2019 Tundra. I received an $850 refund for the unused portion of my warranty.

4) The warranty is transferable. This is *HUGE* if you sell your vehicle privately before the extended warranty expires. This means you can offer a Toyota backed warranty when you sell the car to someone else. You can recoup some of your money by selling for a higher price - if I were buying a used vehicle from someone I did not know, I would be willing to pay a bit more for one with an official transferable warranty.

I usually buy this warranty for the maximum period available, which is 10 years, 125K miles currently. I like having piece of mind, plus it makes it easier to sell the vehicle if I sell it privately, or, like I did with the 2015 Tacoma, I get a partial refund if I trade it to a dealer, which is what I did with the Tacoma when I bought my fourth Tundra - the 2019 Limited Crewmax.

 

I purchased the 7 yr/100K Toyota Care extended warranty for $1200-$1400 - I forgot exactly .....I look back and sometimes wonder if I should have declined on it.

 

I bought the extended warranty for about 2000. So far I’ve had about 800 dollars worth of work done under warranty. The warranty is half up so we’ll see. Nothing beats the peace of mind of having a vehicle under warranty, and that’s what I pay for. Just my 2cents.

 

Never buy them and first thing I tell finance person is don't even try. Tire one sounds like a real money maker for whoever sells it. You could buy a new set for close to that. I don't buy extended warranties on ANYTHING.

 

On our 2011 Toyota van with electric doors, worth it!!! Many times over...On tundra, Tacoma, Prius, Camry...probably not...can buy from a couple folks mentioned on these forums up till 30k miles...