Toyota Extra Care Platinum Warranty

[TarHeel2002]

I purchased a new Toyota Sienna XLE recently and they presented me with the option to buy their extended warranty “bumper to bumper” which extends the original warranty from 3 year 36k miles to 8 year 125k miles. Total cost was $2895. The warranty is prorated and cancellable if I decide tomorrow I don’t want it. I bought it after seeing all of the extra electronics and gizmos in this new ride that look expensive to fix. We keep our cars for +10 years. I was curious to hear boglehead opinions. Thanks!

[bloom2708]

I don't mind the extended warranty in this scenario. Taking it to 8/125k is pretty good.

Car repairs are crazy expensive like most other things.

But, with all "insurance" you hope you don't need it.

[shunkman]

Is it a warranty or a vehicle service agreement? Generally, VSAs do not cover everything that the original warranty covers. And if it is a VSA then you can probably save half the $2895 cost by purchasing it online from a dealer that discounts VSAs. Toyota of Greenfield, MA was one such dealer. And you have until 36,000 miles to decide if you still think you need this.

[Jags4186]

Insurance is a negative expected return item. So on average this is a bad buy. YMMV.

[billfromct]

Whenever the dealership finance person tries selling me the extended warranty, I always say, “What? I thought these Toyotas were reliable. Maybe I better reconsider my purchase.”

I never buy anything that the dealership finance person tries to sell me before I write the final check.

bill

[TarHeel2002]

It is a vehicle service agreement. 8 year 125k didn’t seem too bad to me either considering I’m hanging into this car long term. Do I really have until 3 yr 36k to decide? That’s great

[dukeblue219]

It's one of those things that isn't an objectively bad decision. This isn't putting all your retirement in crypto or co-signing for an old roommates's car loan bad. It just isn't necessarily optimal financially.

If you'll sleep better, it's worth it.

[runninginvestor]

Go on the Toyota forums. You can usually find other people who have found the lowest priced dealers if you want a warranty. I wouldn't get anything below the highest level. Or anything that doesn't include all of the electronics. I believe the Platinum warranty is that one. Different dealers charge different amounts for the same warranty, you can basically get it from any of them. Don't buy a third party warranty though. Get the Toyota one.

[young danny]

Thanks for this. We are considering the Sienna XLE or the Carnival.

Curious, what was your reasoning for the Sienna XLE (I imagine the mpg) and what was you out the door price?

[Horologium]

Whenever the dealership finance person tries selling me the extended warranty, I always say, “What? I thought these Toyotas were reliable. Maybe I better reconsider my purchase.”

I never buy anything that the dealership finance person tries to sell me before I write the final check.

bill

I helped my elderly in-laws buy their last car. When the dealership started the extended warranty pitch, I interrupted with a similar comment. I said “The reason they’re paying more for a Toyota and not buying something cheaper is Toyota’s reliability. That should take the place of the need for an extended warranty, shouldn’t it?”

[shunkman]

It is a vehicle service agreement. 8 year 125k didn’t seem too bad to me either considering I’m hanging into this car long term. Do I really have until 3 yr 36k to decide? That’s great

Yes, you have 3 years/36k to decide.

This is the quote I got for a 2020 Toyota Rav4 Hybrid. A Seinna shouldn't be much different. Everything was handled via email and credit card.

Toyota Extra Care, Platinum coverage with $0 deductible: 8 yrs. / 125K - $1505.00

[Johny Fever]

I would shop that price some and ONLY and I mean ONLY buy a Toyota warranty. Its a van with basically the same drive drive train that has been in the Highlander for a bit...so...not sure...but either way I think you are going to love your new van. DD #4 got one and she LOVES it for her crew. She is getting about 31MPG also which in winter is pretty solid with snow tires on it.

[StevieG72]

I would pass on the warranty. For one thing, bumper to bumper is a little misleading as everything is not covered. For example I had a tailgate on a SUV making annoying noise when going over bumps. Vehicle was still under “bumper to bumper” warranty, however this was not covered. AND I got hit with a $80 diagnostic fee. They could adjust the components that keep the tailgate in place and quite but I would have to pay.

More importantly, Toyotas are so well made you likely will not get much value out of the extended warranty. I would keep the money and if some fancy electronics fail after 36k miles pay out of pocket.

I currently own a 2016 4Runner, 75k miles. It has only needed routine maintenance. Have talked to owners with 300k with surprisingly minimal maintenance issues.

[Sandtrap]

I purchased a new Toyota Sienna XLE recently and they presented me with the option to buy their extended warranty “bumper to bumper” which extends the original warranty from 3 year 36k miles to 8 year 125k miles. Total cost was $2895. The warranty is prorated and cancellable if I decide tomorrow I don’t want it. I bought it after seeing all of the extra electronics and gizmos in this new ride that look expensive to fix. We keep our cars for +10 years. I was curious to hear boglehead opinions. Thanks!

yes
"if" you plan to keep the car until 300k miles or more, or the life of the car.

Can you get it for longer than 8 years?

j

[OldSport]

I would pass on the warranty. For one thing, bumper to bumper is a little misleading as everything is not covered. For example I had a tailgate on a SUV making annoying noise when going over bumps. Vehicle was still under “bumper to bumper” warranty, however this was not covered. AND I got hit with a $80 diagnostic fee. They could adjust the components that keep the tailgate in place and quite but I would have to pay.

More importantly, Toyotas are so well made you likely will not get much value out of the extended warranty. I would keep the money and if some fancy electronics fail after 36k miles pay out of pocket.

I currently own a 2016 4Runner, 75k miles. It has only needed routine maintenance. Have talked to owners with 300k with surprisingly minimal maintenance issues.

If a door seal is leaking, it very much should be covered. Sometimes dealers lie, which is unfortunate.

[anil686]

I would price shop online as there are many dealers whose finance departments have a good book of business selling genuine Toyota VSAs good at any Toyota dealership. The prices are typically the best you are going to find and they should be easy to find on the internet. That is not limited to Toyota - it is true for all make car dealers…. JMO though….

A couple of quick comments. I have bought VSAs through manufacturers before - and I like them. I will admit that many on the forum are correct that you typically will lose money on them because not enough stuff will break even at 125,000 miles. But it was good peace of mind.
1). A very good/honest mechanic will typically charge much less than the dealer for OEM repairs. Some will allow you to order your own parts and have them either delivered to the shop or to your house to bring over to the shop. So stuff that the dealer quotes as $500-1500 to fix might be half of that. Of course it is hard to always find a good/honest mechanic.

2). The only VSAs I would get are like the one you got from the manufacturer. My experience is that dealers are happy to the work and will work with you to make sure it is covered if they can because they get paid from the manufacturer quickly and certainly. I have never had a dealer slow play an issue on a vehicle with a manufacturer VSA. Just my experience though. Hope it helps….

[azjon]

As other posters mentioned, be sure to only buy the Toyota VSA Platinum warranty and not an aftermarket warranty.

We purchased a 2022 Venza Hybrid late last year and based on the Toyota forums received quotes from a few dealers. Prices are all over the board. We ended purchasing a 7 year, 125K mile warranty from Ian at Wolverine Toyota in Michigan - as his quotes were significantly lower than others. We paid $1,150 for the 7 year / 125K Platinum VSA plan. I saved his email quote (as he quoted multiple years/mileage combinations) and for the 8 year/125K mile plan you referenced, we were quoted $1,405.

Call or email Ian - I'm pretty confident you will save at least $1K off the quote your dealer provided. Note, I have no affiliation with Ian or this dealership - in fact, I live in the Southwest but wanted to share in case it can save you money.

Best of luck!

[random_walker_77]

I purchased a new Toyota Sienna XLE recently and they presented me with the option to buy their extended warranty “bumper to bumper” which extends the original warranty from 3 year 36k miles to 8 year 125k miles. Total cost was $2895. The warranty is prorated and cancellable if I decide tomorrow I don’t want it. I bought it after seeing all of the extra electronics and gizmos in this new ride that look expensive to fix. We keep our cars for +10 years. I was curious to hear boglehead opinions. Thanks!

This datapoint is now 4 years old, but I was offered the 7 yr toyota platinum warranty for $2400 on a hybrid camry back in 2019. They then lowered the offer price all the way down to $1075. So this is a profit center for them and the price is highly negotiable. As mentioned above, you might get the best price from another dealership, possibly in another state.

[RobLyons]

Most Toyotas need very little until your reach about year 9 so now I wouldn't get that insurance.
My Prius is year 6 needing only a $450 interior light repair.
Wife's van is at year 10 and some problems began around year 8-9, costing us the most in year 9.
Previously owned Camry, another van, and a corolla all with the same story.

[8000m]

As several others have indicated, the extended warranties can be reasonable buys at the right price. There are usually a couple dealerships in the country that use the extended warranties to drive a volume business for their specific dealership & offer them at significant discounts to the standard asking price. Find those dealerships. Per above, Toyota Forums are your best bet.

[SpaghettiMonster]

I purchased a new Toyota Sienna XLE recently and they presented me with the option to buy their extended warranty “bumper to bumper” which extends the original warranty from 3 year 36k miles to 8 year 125k miles. Total cost was $2895. The warranty is prorated and cancellable if I decide tomorrow I don’t want it. I bought it after seeing all of the extra electronics and gizmos in this new ride that look expensive to fix. We keep our cars for +10 years. I was curious to hear boglehead opinions. Thanks!

Cancel it if you still can and shop around some more. The exact same 8yr/125k Toyota-backed warranty can be had for $1670. PM me if you’d like.

[sandan]

I would do it, but I would first
1)Find out the last day you can purchase the warranty (the offer price may be available till the standard warranty expires).
2)Make sure you have a local Toyota dealership you like.

The biggest non-monetary perk associated with these warranties is that if you deal with a reasonable dealership, the hassle of dealing with any major/minor issues with a car will be greatly reduced. If you are hostage to a bad service department, then the warranty won't be very useful.

[HereToLearn]

I bought the platinum plan on a Land Cruiser ten years ago. The automatic locking mechanisms had to be replaced on two of the doors, at different times. I am not sure if auto locking mechanism is the correct name, but the feature that allows the car to unlock by lifting the handle and lock by pressing a small button on the handle.

Shortly before the end of the eight year warranty, the audio system failed. The dealer replaced a few parts before finally concluding that the dropdown TV screen was the reason all radio, phone, CD, etc were no longer working. That was a VERY expensive repair for an item that had never been used once. (It came with the car. I would never have paid for it but the car was only sold with it.)

So three electronic repairs on a car that has never given me any mechanical problems.

Editing to add that the platinum coverage provides a free rental car during repairs. The dealer had my car for almost a week while attempting to identify the reason the audio system had failed.

[hudson]

It is a vehicle service agreement. 8 year 125k didn’t seem too bad to me either considering I’m hanging into this car long term. Do I really have until 3 yr 36k to decide? That’s great

I have a 2018XLE...bought new. No issues...in year 5.

The dealer put the hard sell on me for the extended warranty. I declined. I don't buy extended warranties on most
items because I think they are not needed...especially with Toyotas. I speculate that extended warranties are just
excess dealer profit.

My son got an official Toyota warranty on his Sienna from a Toyota dealer in the Midwest at a much cheaper price. I don't know if that deal is still out there.

Bottom Line: I'd pass
(The next time somebody tries to talk extended warranty to me, I'm going to stand up and call timeout; if they continue, I'll walk.)

[realclemsongrad]

I purchased a new Toyota Sienna XLE recently and they presented me with the option to buy their extended warranty “bumper to bumper” which extends the original warranty from 3 year 36k miles to 8 year 125k miles. Total cost was $2895. The warranty is prorated and cancellable if I decide tomorrow I don’t want it. I bought it after seeing all of the extra electronics and gizmos in this new ride that look expensive to fix. We keep our cars for +10 years. I was curious to hear boglehead opinions. Thanks!

Cancel it if you still can and shop around some more. The exact same 8yr/125k Toyota-backed warranty can be had for $1670. PM me if you’d like.

How is it possible to get it at that price. That sounds amazing. Please share your tip. Thanks

[anoop]

Wait until you are close to end of factory warranty unless you believe we will have high inflation that might make it cost significantly more by then.

Regardless don’t blindly buy from the dealer that sold the car. Check some toyota forums, almost certainly someone will have posted the best dealer for buying an extended warranty that would offer you close to invoice price on it.

See for example
https://www.toyotanation.com/threads/de ... t-14328464

[crefwatch]

I agree that Toyotas are reliable. But my (new) Prius infotainment screen (just the LED screen-I was still able to run things when they had hard buttons on the steering wheel and the dash) failed after a few years. That was a high-ticket tech item that paid for the Extended Warranty. I should note that with my second Prius, the service-writers started saying "I will put in for the insurance claim ... " when I dropped off the car - as if it was beyond their control whether I got a penny from the plan their finance office had sold me. That did not inspire confidence.

A hybrid, and my current Chevy Bolt EV are special cases. But it's clear that my Bolt has, literally, HUNDREDS of networked sensors reporting to the central computer. Even many years ago, my friends were horrified when I told them about fly-by-wire: The Prius accelerator pedal is more like a volume control on a stereo than it is like an airplane actuator cable to a tilt-valve on a mighty Detroit .... carburetor. This is not your father's automobile.

[TarHeel2002]

Great info there. Yes those infotainment screens look expensive and they were talking about how everything is interconnected now. They said they don’t fix, they replace parts. I’m feeling good about having the plan now. There is something to love about the simplicity of older Toyotas. I love our Sienna hybrid though.

[sandan]

I agree that Toyotas are reliable. But my (new) Prius infotainment screen (just the LED screen-I was still able to run things when they had hard buttons on the steering wheel and the dash) failed after a few years. That was a high-ticket tech item that paid for the Extended Warranty. I should note that with my second Prius, the service-writers started saying "I will put in for the insurance claim ... " when I dropped off the car - as if it was beyond their control whether I got a penny from the plan their finance office had sold me. That did not inspire confidence.

A hybrid, and my current Chevy Bolt EV are special cases. But it's clear that my Bolt has, literally, HUNDREDS of networked sensors reporting to the central computer. Even many years ago, my friends were horrified when I told them about fly-by-wire: The Prius accelerator pedal is more like a volume control on a stereo than it is like an airplane actuator cable to a tilt-valve on a mighty Detroit .... carburetor. This is not your father's automobile.

Thanks for this information, especially about the prius and the Bolt. As for fly-by-wire & steer-by-wire.. people shouldn't be horrified, its really disappointing how slow we are adopting it.

An excerpt from wikipedia about fly-by-wire for airplanes. "For airliners, flight-control redundancy improves their safety, but fly-by-wire control systems, which are physically lighter and have lower maintenance demands than conventional controls also improve economy, both in terms of cost of ownership and for in-flight economy. "

[j.click]

A few big ticket items have been replaced under a Platinum VSA (vehicle service agreement/warranty) for my Lexus RX350. If I had to pay out of pocket the cost would have been roughly double what the VSA paid the dealer. Very similar to medical bills covered under insurance and those that are not. Another saving for a warranty holder. It will be a new ball game when my VSA expires next year...

[DurangoWino]

I owned a bunch of Honda Accords through the years and put between 100-200K miles on each one with very few major issues. I never bothered with any extended warranties. Same if I had been a Camry owner. With a recent Jeep purchase I did get their best extended warranty. In the future if I purchase any type of EV or plug-in hybrid I will definitely purchase an extended warranty due to both being newer technology.

[shinzilla]

Search the siennachat forums on this topic and you'll find a dealer who sells a 10 year/125k for $2070.