Should you buy an Extended Warranty for your Toyota?

I just bought a 2024 Camry LE and after doing more research i think i may have preferred the hybrid if there wasnt much of a wait. I really need this car to last ~180-200k miles after the nightmare i had owning a kia for 3 years and then back to toyota. I'm going to be likely driving close to 30k miles/year, oil changes between 4-5k miles and will try drive it gingerly. I really worry about the 60k transmission fluid drain & fill or not doing one at all.

Great video!! Thank You So much!!

You should know these extended warranty companies never pay up, I ran an automotive repair facility too.

I purchased a lifetime bumper to bumper unlimited mileage zero deductible extended warranty on my new Platinum Tundra. The list of items not covered are consumables like brakes, etc which is normal. Aside from an unplanned accident, I plan to have the truck for 30+ years. Worth that kind of longevity ownership.

Insurance exists because it always collects more revenue than it pays out and claims. If that ever changed it would close up shop and it wouldn't be paying out your claim anyway. Insurance always wins..

Think of extended warranties like this the dealer/manufacture is the house and you are a gambler. You are betting that your vehicle is going to break during the extended warranty. The dealer/manufacture is betting your vehicle is not going to break during the extended warranty.

Now guess who wins this bet 99% of the time, if you said the dealer/manufacture then winner winner chicken dinner.

Even consumer reports says not to purchase an extended warranty unless you are purchasing a vehicle with known quality issues that has a record of breaking down.

I do not purchase extended warranties.

Now to answer your example of insurance vs extended warranties that is a stupid example, you are required to purchase insurance to register your vehicle and drive it on public road. There is no such requirement to purchase an extended warranty in order to drive said vehicle on public roads.

Thank you. Great information

i bought extended warranty on my 2023 Toyota because it's my first hybrid car and there are a number of items I don't know how to service. i'm covered for 10 years now.... considering I don't wreck it😂

Dealer warranties are negotiable. They dont like to tell u that! With todays electronics and expensive parts I would probably get it.

👍👍👍😄

Because dealers are a bunch of crocks 😂

Dealerships will hate you but we like you and love your videos 😂 sir thank you very much ❤

I bought an unlimited-month, 150,000 mile warranty with a $100 deductible for $2,000 for a 9 year old, 43,000 mile RX350 I just purchased from a dealer. It's nice to have the peace of mind that I won't have to worry about any major mechanical failures if I keep a 15-20 year old car for the next 6-11 years which is my plan.

I bought an extended warranty snd I regret to do so.

my vehicle dealer told me dealing with warranty companies can be a real struggle only for the claim to be denied, or after approval and the work has been done they either try to renegotiate the invoice or just won't pay so the dealership will only accept a policy written directly by the mfg. or a company owned by the mfg.

I really do appreciate your You Tube videos... You are an outstanding Automotive Technician... But I'd rather use the term or title ' Engineer ' rather within your case...

no

I hesitantly putchased the Toyota platinum warranty with my Certified Used Tacoma under the impression that electronics are outside of me realm of expertise. With 10k to go, I was regretting getting it because nothing that far had been covered because Toyota considered them to be wear items, or related to wear items.

Then I had a leaking timing cover, water pump, and head gasket which also led to leaking fuel injector O-rings. All of it covered and for way more than I paid for my warranty. Very glad I did it now.

I might add that if you have a car financed.Its important to get "Stop Gap" insurance if you get in an accident or your engine fails when your paying off.The insurance will cover in most situations.Most insurance companies have this and its peace of mind if you have payments left when it happens.

No one cold hate you Sir. You’re such an honest and kind man.

Toyota extended warranty pays at set rate for the work, be lower than walk-in customer. Mechanic would choose the works from walk-in customer.

I got 23 Tacoma and was dead set on not getting extended warranty. Then the dealer said it $25 more a month and they would replace windshield if chipped so I got it.

He is hesitant to recommend a warranty on a Toyota, so if you buy another manufacturer car its an even more chancey decision

Scams

Never trust a mecahnic to give financial advise. Most of them are broke.

Car* care Nut your thoughts on toyota dealerships telling folks to get that eletronic rust module that goes to the OBD?

If you buy an expensive car the cost to fix it will be high consider getting the warranty.

Consumer is always being tricked and scammed by something out there, specially by car dealerships. They are known not to be honest, and they are the epitome of greed.

I bought the warranty from the dealer on my new purchase. I expect to keep this car for 10+ years and I want it to be in good working order out past the end of the loan.

If you buy the extended warranty get the one from Toyota not some risky dinky warranty who’s office is in the Midwest like Aerotyne.

You Are Amazing! THANK you SO much for all your hard work here. I appreciate you! Please move to my town LOL

Extended warranties are a rip off

I got suckered in to buy an extended warranty and never used it. Its is just a waste of money.

I believe it is a better idea to buy a lower mileage car with the factory warranty than to buy without factory warranty and an older car.

Is there any 2002 or 2003 Lexus sc430 video ?

Love your channel very much.
Thank you AMD.

If you put crazy miles on per month or year. Like me i put 18-28k a year A extended warranty for used car is almost pointless cuz I pass the mileage in just a few months then warranty is done.But that same warranty would last the average driver a year or two

It’s crazy that car manufacturers acknowledge that they use, soy based products on fuel systems and electrical wires that attract rodents but won’t cover damage from rodents
😂

I remember ford in Manchester Ct
Extended warranty on preowned used car
Sounded like it covered everything cuz was bumper to bumper.
But at end of about 8 pages was a breakdown
Many things were covered up to 90 days or 2,500 miles whichever hit first
Or torque converter was not included at all as part of the transmission 50 k mile
And electrical most was covered
But things like remote start module wasn’t and
Any sensor or module wasn’t
And mice or rodent damage wasn’t
But acknowledged that they used soy based products on their wiring
Which attracts rodents
So they knew this but wouldn’t cover the damage

If I buy a Lexus at a Volkswagen dealership would I be able to get a extended warranty through them? Is the Lexus still considered a CPO?

I priced out a toyota certifified 2019 highlander and found that by the time I bought the extended warranty, replaced the 60% worn tires and brakes, I was only $6000 difference from a new highlander.

My house didn't burn down last year so I was scammed out of my insurance premium !

Good point.

Thank you! Your the best!

i am in processing of buying a 2018 Toyota Rav4 with 108,000 km on it. It was a lease vehicle that was only driven in the city of Calgary. It seems to be well looked after. The Toyota dealership is offering a 2 year warranty called Platinum for 40,00 km or 2 years, and it costs $2509. Canadian Dollars. Do you think this is a good idea? At this point I don't know what it does NOT cover, but will look into this. I found this video very helpful!!

I don’t buy a warranty, but I also put money away for car repairs. The finance department doubles and triples their profit by raising the rates of the warranties. Then, if you add it to your loan you’ll be paying interest on it. Then, you’ll need GAP because now, you’re upside down on your car loan. You can buy a warranty outside of the dealership. They’ll send you to one of their mechanics to verify your car’s in good condition.

You’ve got 3 yr 36k to buy a manufacturer warranty and you can buy it from ANY dealer in the country that sells them.

I think the only warranty worth the signature is a manufacturer warranty. Third party and dealer warranties are complete crap. Honda dealer here adversities a 7yr 200k mile warranty and I’d love to see how many times they paid out for cars over 100k.