Yes, purchasing an extended warranty is typically a great method to give your new or used car long-term security. Nevertheless, they may not be the greatest option for all drivers, so consider your financial circumstances.
In This Article...
What’s covered by Toyota’s extended warranty?
A comprehensive list of powertrain and cabin systems are covered by Toyota Platinum Protection. With a sizable number of component coverage exclusions, the second Toyota extended warranty option, Gold Protection, is a mid-level coverage option. Powertrain Protection, the entry-level tier of Toyota’s extended warranty, only provides coverage for vital powertrain elements like the engine, transmission, and axle-assembly systems.
Is Toyota’s extended warranty refundable?
Yes, if you decide to change your mind within 30 days of purchase, Toyota’s extended vehicle service protection plans can be canceled for a full refund. Your extended Toyota warranty will be reimbursed on a prorated basis following the initial 30-day term, less a $50 administrative processing fee.
What should the cost of a Toyota extended warranty be?
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- The Toyota factory warranty offers 5 years/60,000 miles of powertrain warranty coverage in addition to 3 years/36,000 miles of bumper-to-bumper coverage.
- The length of a Toyota extended warranty can be increased to ten years.
- Customers claim to have paid between $1,500 and $2,500 for a Toyota extended warranty.
What does Toyota extended warranty cover?
Toyota, like the majority of automakers, doesn’t disclose the price of their extended warranties on its website. However, according to our study, the typical price range for Toyota extended warranties is $1,0001,500.
Anytime up until the factory warranty expires, which is either 3 years or 36,000 miles, whichever comes first, you can buy a Toyota extended warranty. After the Toyota original warranty ends, you can also buy a third-party warranty plan.
The Vehicle Service Agreement, or VSA, is the name of the extra warranty offered by Toyota. Toyota offers the Platinum Protection, Gold Protection, and Powertrain Protection plans as its three VSAs for both new and used cars.
Your car is protected in the event of a mechanical malfunction or component failure by a Toyota extended warranty. Depending on the level of plan you select, different sections are covered. Up to 10 years and 125,000 miles of coverage are provided by a Toyota extended warranty.
Is the Toyota extended service contract worth it?
Our review staff takes great delight in providing consumers with factual and unbiased information. In order to compile our rankings of the best service providers in the market, we collected information from numerous extended auto warranty companies. Companies are rated in each of the following categories and given an overall score out of 5.0:
- Customers value open and honest communication when it comes to vehicle servicing contracts, thus transparency is important. The availability of money-back guarantees and sample contracts is taken into consideration by our experienced staff.
- Customer service: An extended warranty provider’s degree of customer service and care is a key factor to take into account. Our review staff sorts through consumer feedback and grievances from reliable websites like Trustpilot and the Better Business Bureau (BBB). Based on our study of the secret shoppers, we also take the responsiveness of each company’s customer support team into account.
- Coverage: To accommodate consumers’ various needs, a broad range of coverage is necessary. We consider the quantity of available extended auto warranty policies, period restrictions, exclusions, and supplementary features.
- Price: Because there are so many variables that affect costs, comparing suppliers can be challenging. We use a secret shopper analysis using various automobiles, mileages, warranty plans, and locations to calculate this score.
- Reputation: Reputable extended warranty suppliers routinely deliver top-notch services. Our crew takes into account BBB ratings and the company’s history of trustworthy service when providing this score.
Why buying extended warranties is a bad idea?
Purchasing an extended warranty is rarely worthwhile. Products don’t malfunction on their own, and when they do, repairs are typically less expensive than purchasing an extended warranty.
Yes, some people have used extended warranties to significantly reduce their costs. I love that! But pause for a second and consider why a business would provide you with an extended warranty. The reply is that they are financially successful.
It’s usually preferable to forego the extended warranty and instead utilize the additional money to start an emergency fund. Nevertheless, each circumstance is unique, and some extended warranties are more helpful than others. We have investigated some well-known products that typically come with extended warranties in order to determine whether they are worthwhile.
What does the Toyota $100 000 mile warranty cover?
Limited Powertrain Warranty for 7 Years and 100,000 Miles covers all internally lubricated parts as well as main engine and gearbox components. provides travel insurance with payment for housing and meals while traveling more than 150 miles from home.
My Toyota extended warranty may I cancel?
Within 30 days, you can cancel your VSA and receive a complete refund less a $50 processing fee (as permitted by state law). If cancellations are requested after 30 days, they will be prorated. For information on the cancellation procedures in your state, contact your dealer.
Is an extended auto warranty worthwhile?
Extended warranties are often “a lousy value” when it comes to the overall cost of your car, according to Gillis. 55% of consumers who bought an extended warranty in a Consumer Reports poll never used it. Most people who used the guarantee ended up spending more on repairs than they had originally saved.
Additional negatives include:
- Exclusions: The fine language in every contract outlines how the warranty may be applied. For instance, the provider can refuse to pay for issues brought on by regular wear and tear or lower the claim settlement in light of your car’s depreciation.
- Overlap: If you already have coverage from the manufacturer’s warranty or a mechanical breakdown insurance policy, you may not need the extended warranty. In that situation, Gillis claims that “the additional coverage is not worth the premium.”
- A percentage of the repair expense may be covered by some extended warranties. The remainder, along with a deductible, is your responsibility.
- Limitations: You might need to bring your automobile to a repair facility that has been approved by the warranty instead of choosing your own technician.
- A Consumer Reports poll found that 55% of those who purchased extended warranties never used them.
What is covered by the Toyota 5-year warranty?
5 year Mirai Fuel Cell Guarantee Under normal operation, the Mirai warranty covers any flaw that can be traced to a manufacturing or assembly error for a period of five years or 60,000 miles, whichever comes first. The first year has no mileage restrictions.
Toyota Extra Care Protection: What is it?
BE PREPARED AND PROTECTED AFTER THE WARRANTY EXPIRES ON YOUR VEHICLE WITH TOYOTA EXTRA CARE VSA. Gain protection against escalating labor and covered part prices. Make sure a factory-trained service professional handles the repairs and that only Toyota-approved parts are used. Enjoy 24/7 Roadside Assistance.
Which warranties are offered with new Toyotas?
New Car Warranties A 36-month/36,000-mile limited warranty is included with every new Toyota vehicle1. But things don’t stop there. Basic Protection 36,000 miles over 36 months (all components other than normal wear and maintenance items).
Can you revoke the new car’s extended warranty?
Anytime you decide to cancel your extended warranty, you’ll receive a prorated refund for the period that was left on your policy. If the warranty was part of your loan, your car payment won’t change, but after the refund is taken out of your balance, you might be able to pay off the car sooner.
To make the cancellation process as simple as possible, think about the following advice:
Check the small print. For information on who to contact and whether there is a cancellation fee, locate the paperwork for your insurance. Call the finance manager who sold you the extended warranty if you just purchased it and you don’t yet receive the contract. You might need to get in touch with the business through phone or letter regarding third-party warranties.
Let’s say “no. Be aware that if you phone a warranty business, you will likely be routed to a department that is trained to persuade you to stay with them. Don’t feel like you have to explain why you’re cancelingjust keep saying it “no.
Get it down on paper. Get a copy of any cancellation forms that you might be required to fill out signed by a dealership employee. Keep copies of any pertinent paperwork, including your cancellation letter or form.
Following up To ensure that your cancellation was successful, schedule a reminder. You can speak with your lender or check your loan statement.
What are the justifications for not purchasing an extended warranty?
When you are leasing, it is the most obvious situation where you don’t need an extended warranty. You don’t need to buy additional protection if your lease is for three years and 36,000 miles and your manufacturer’s warranty is also for three years and 36,000 miles. If the dealer tries to sell it to you, it is actually a scam.
You will receive the same amount of value in return, so you might as well simply toss your money in the trash. Since an extended warranty doesn’t begin until the manufacturer’s warranty has expired, you would essentially be purchasing a plan that offers no coverage at all.
Recall your lease’s mileage restrictions! The original coverage will terminate if you go above the limit before the lease expires. If you are going to greatly exceed the mileage restriction, leasing is usually not the best option because you’ll end up paying a lot in over mileage penalties.
In the event that you disregarded our advice and signed a long-term lease, you will need to look into getting extended insurance.
A waste of money is a warranty?
You’ll be required to pay for interest in addition to the warranty itself. You will be charged interest if you finance it on your credit card and don’t pay it off within 30 days. You’ll end up paying even more for that warranty as the years pass. Additionally, you can end up paying more for the warranty than the item is worth.
What products should have extended warranties purchased?
10 items that should always be covered by an extended warranty
- 1/11. To Buy or Not to Buy
- Cars and Trucks. 2/11.
- Boats and RVs. 3/11.
- Mobile devices. 4/11.
- 5/11. Refrigerators
- HVAC Systems. 6/11.
- 7/11 has washers and dryers.
- 8/11. Televisions
What does the Toyota warranty not cover?
The guarantee does not apply to parts of your car that need to be fixed or replaced due to wear and tear from use. Brake pads, brake rotors, batteries, wiper blades, hoses, air filters, oil filters, lightbulbs, and fluids are some examples of the things that fall under this category. Additionally, any repairs brought on by a collision, vandalism, or negligence are not covered by the guarantee. As a result, it’s crucial to get your car maintained at the dealership in accordance with the manufacturer’s guidelines.