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Discussion Starter #1
Just purchased a new XLE Hybrid

Curious on people's thoughts of the platinum warranty.

It sounded pretty good on the spot but the more I read and understand it, the more I find items to be excluded which I thought would be covered.

Anyone have some insight they'd like to share?
 

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I’m not a fan of extended warranties. I’d rather hang onto that money vs placing a bet that it’ll need expensive repairs. I bought a Toyota for reliability, and I bought new so it would have 3 yr bumper to bumper 5 yr powertrain coverage. Just my 2 cents : )
 

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I'm an extended warranty guy and I've also decided to pass on the extended warranty for my new Limited Hybrid. It's my first Toyota, but if it's anywhere near as reliable as my Audi has been, I'll be quite happy!
 

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I did get an optional coverage package when we got our 2012, just to cover the term of the lease. As it turns out, any work that was necessary was found and covered within the basic warranties included on all new vehicles. To summarize:

  • Sticking left e-brake despite normal use
  • Downstream oxygen sensor (fouled and shorted externally)
  • new cylinder head due to manufacturing defect (coolant pipe pressed into head not perpendicular, creating coolant leak from new which caused O2 sensor failure above)
  • side panel gasket leak on FWD transmission

Items 1 & 2 were covered under the 3/60,000 km comprehensive warranty, and the other two could be done under the powertrain warranty (5/100,000 km) although #3 was still within the 3/60. Were I to buy new again, particularly outside of the first two years of production (2021-on) I would pass, but still watch the vehicle like a hawk. That money is better spent somewhere else, unless you get a screaming deal on the warranty. Remember, 50% of the price they quote is profit, and they can pull it way down if they are having a decent month or want to get a bit more out of you.
 
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I’ve had three Toyota’s so far and all have not needed anything to justify an extended warranty. If you think you need one for peace of mind shop around. The dealership isn’t the only game in town. There are many companies that will give you an extended warranty. Compare prices and coverage. A non-dealer warranty can also have the added advantage of allowing you to repair your vehicle at any qualified mechanic. Also, keep in mind that you should be able to cancel at anytime and be refunded the balance. That should also apply to the one from the dealer.
 

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I paid $700 for 8 year warranty, one repair and it's a win already. Also it will be much easier to resell if you still have warranty and you can ask a bit higher price or don't drop as much.
 

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Bought a Toyota Platinum 7 year extended VSA at for a discounted about $650 for our '11 RAV4 but never had to use it. Would never have bought it for full listed price. Also it duplicates a lot of the original warranty and has only a few additional benefits.
 
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I paid $550 for 6 years or 75,000. Chevy wanted over $1k for my Cruze for 7 years and I declined. 80% never use it but for only $550 it's money well spent IMO. I don't normally keep my vehicles after 6 or 7 years.
 
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