An extended auto warranty is an optional vehicle service contract that guarantees prolonged coverage for your vehicle after the expiration of its factory warranty.
A Toyota extended warranty can be acquired through a Toyota dealership, or you can find similar protection from a third party.
Keep reading to learn more about the pros, cons, costs, and coverages offered by both Toyota dealership and third-party extended warranty providers.
Affiliate disclosure: Automoblog and its partners may be compensated when you purchase the products below.
Are you considering buying an extended warranty for your new or used Toyota? While some people don’t think they need an additional warranty, the cost of an extended warranty is often a small price to pay for long-term financial security and overall peace of mind.
To help you make a more informed decision to find the most inclusive and cost-effective warranty plan for your car, we compiled our research on both Toyota dealership and third-party extended warranty plans. We’ll look at the pros and cons, coverage options, and costs of Toyota’s extended warranties and compare them to what we think are the best extended warranty companies.
Best Extended Warranty Companies
We reviewed the best extended auto warranty providers, and here are our top picks.
To help get your warranty research process started, we’ve put together a comprehensive guide to Toyota extended warranty options, with a specific focus on major costs and coverage variations across different plans and providers.
Why Do You Need An Extended Warranty?
An extended warranty, also known as a vehicle service agreement, protects your car financially in the event of mechanical breakdown after the expiration of its factory warranty. Without an extended warranty, you’re wholly responsible for the costs of maintaining and repairing your vehicle after its factory warranty lapses.
In comparison with factory coverage, an extended warranty is generally easier to customize and tweak for unique coverage and pricing requirements. While customization choices will ultimately depend on the warranty provider’s flexibility, it’s not unusual to build your extended warranty plans according to projected driving mileage and the length of time you plan on owning and operating your vehicle.
When you add a Toyota extended warranty to your car, you’ll not only benefit from expanded vehicle coverage, but you’ll also be rewarded with a range of convenient perks, such as:
Transferability between private entities
Reimbursement for rental cars or trip interruptions
Access to roadside assistance, towing, and fuel delivery
Access to certified mechanics and Toyota’s nationwide network of factory-trained service partners and dealerships
What’s Covered Under Toyota’s Factory Warranty?
Before you buy an extended warranty, you need to know if your Toyota is still under its original factory warranty, and if so, what coverage is left. Toyota’s factory warranty is added to your vehicle upon purchase at the dealership. Coverage includes:
Basic Bumper-to-Bumper Coverage Warranty
36 months or 36,000 miles
Powertrain Coverage Warranty
60 months or 60,000 miles
Rust-Through Coverage Warranty
60 months or unlimited miles
Emission Control Systems Warranty
Varies state to state but usually up to 8 years or 80,000 miles
Whether the claim is honored under the Toyota factory warranty is contingent on evidence that you’ve performed routine general maintenance on your vehicle, such as tire replacement and oil or coolant changes. There are also a number of other exceptions, which are usually based on what caused the damage. For example, if your Toyota needs repairs due to an accident, your warranty doesn’t cover that. Your car insurance should, though.
Breaking Down Toyota’s Extended Warranty Options
Like many other automakers, Toyota offers multiple tiers of vehicle service protection, giving you the chance to choose a plan that best suits your long-term budgetary and driving objectives. Read on for a brief overview of Toyota’s three main extended warranty options, which are known as Toyota Vehicle Service Agreements (VSA).
Platinum Protection is the highest level of extended warranty coverage Toyota currently offers. It delivers comprehensive, bumper-to-bumper vehicle protection, covering all major mechanical and chassis systems, as well as many other non-essential cabin components. A Platinum Protection VSA can be added to a new Toyota for terms ranging from 3 years/50,000 miles to 10 years/125,000 miles. Used Toyotas can be covered for 1 year/12,000 miles to 5 years/60,000 miles.
Gold Protection is Toyota’s mid-level extended warranty plan, offering wide-ranging parts coverage without the premium cost of Platinum Protection. You can choose terms of 3 years/50,000 miles up to 8 years/125,000 miles for a new Toyota. The terms are shorter for used Toyotas, ranging from 1 year/12,000 miles to 5 years/60,000 miles.
Toyota’s Powertrain Protection offers key component coverage for your vehicle’s engine and drive systems. New Toyotas can be covered up to 6 years/100,000 miles, and used Toyotas can be covered up to 2 years/24,000 miles.
Unlike competing powertrain warranties, Toyota’s Powertrain Plan also includes coverage for a limited selection of shift control and driveshaft axle assemblies. Nevertheless, the Powertrain Plan is still an entry-level extended warranty, held back by a hefty list of component coverage limits. We’ve listed five potentially expensive component exclusions to keep in mind:
We understand how tiresome warranty research can be, especially if you’re trying to find out how coverages vary between extended warranty tiers. We’ve compiled a handy table to help you quickly discern the major component coverage inclusions and exclusions across Toyota’s three major extended warranty plans. Keep in mind that a higher-level plan will cover more components within a system than a lower-level plan.
Platinum Plan Coverage
Gold Plan Coverage
Powertrain Plan Coverage
Drive wheel system
A/C and heating
Hybrid fuel system
Fuel injection system
Fluid and gases
Toyota Reliability & Repair Costs
In a 2017 ranking of the top 25 most reliable vehicles in the U.S., Toyota models – namely, the Tacoma, Corolla, Highlander, Camry, Prius, Sequoia, RAV4, and Avalon – were awarded 8 distinct spots on the list. In 2019, Toyota vehicles counted for half of the 38 most reliable new cars in a list compiled by U.S. News & World Report. Still, even with Toyota’s well-founded reputation for reliability, it’s important for us to remember all cars aren’t immune from mechanical issues.
Toyota Corolla: An engine starter repair costs between $401 and $477.
Toyota Tacoma: Fixing a lower ball joint costs between $223 and $519.
Toyota Highlander: Repairing a faulty oxygen sensor costs between $817 and $1,799.
Toyota Extended Warranty Costs & Pricing
The cost of your Toyota extended warranty plan depends on the following factors:
Coverage type: The more comprehensive the coverage, the more expensive it will be.
Deductible amount: The higher your deductible, the lower the cost of your monthly warranty premium.
Vehicle model and age: Historically unreliable vehicle models or older vehicles typically have higher monthly premiums.
Additional warranty perks: In some vehicle service protection plans, selecting optional add-ons will increase your premium rate.
Choice of provider: There is considerable difference in affordability between major dealership and third-party warranty providers.
Stacked warranty coverage: If your extended vehicle service plan is stacked with a factory warranty, premiums for the extended warranty will be significantly less expensive.
Another factor that can affect the cost of maintaining your extended warranty is whether your warranty is bundled with your car financing. This type of agreement should be avoided if at all possible, as you end up paying interest on your warranty as well as on your car.
Upon purchasing a Toyota extended warranty plan from the dealership, you can choose between either a $0 deductible or $100 disappearing deductible per visit. When you take your vehicle in for covered repairs following a claim event, the deductible is the minimum dollar amount you’re required to pay before the service bill is submitted under warranty coverage. If you have selected a disappearing deductible and your Toyota is repaired at the dealership of origin, the cost of the deductible will be waived.
5 Things We Like About Third-Party Extended Warranties
When you buy a Toyota from a dealership, the dealer may try to pressure you into protecting your new vehicle with a corresponding Toyota extended warranty. However, in many cases, you’ll actually get a better deal on an extended warranty by approaching a third-party provider. Here are a few reasons why you should consider this option:
A third-party warranty provider will generally approve coverage for service work and repairs billed to any mechanic who’s certified by the National Institute for Automotive Service Excellence (ASE).
Third-party extended warranty plans are not geared toward a specific auto brand, encouraging a more transparent and more flexible approach to coverage customization.
Third-party warranty providers are competing for attention from all types of vehicle owners, not just Toyota owners. This heightened level of customer competition typically translates to more affordable monthly premiums.
While Toyota offers three good plans, many other extended warranty providers offer more than that. For example, CARCHEX has up to 21 contract options, which are customizable.
You can only buy a Toyota VSA while the vehicle is under its factory warranty, or in the first 3 years/36,000 miles. Third-party extended car warranty companies allow you to buy coverage at almost any time, whether your car is new, used, or certified pre-owned. Even cars with well over 100,000 miles can be protected, which is likely for a reliable car like a Toyota.
What we want to make clear is that you have plenty of options. By doing a little shopping and comparing coverage and costs between providers, we think you’ll end up with the best fit for your Toyota. Feel free to get a quote for a Toyota extended warranty from your local dealer, but also get quotes from the best extended warranty companies. Our top suggestions are below.
Best Extended Warranty Companies
We reviewed the best extended auto warranty providers, and here are our top picks.
Yes, in most cases, buying an extended warranty is an excellent way to provide your new or used vehicle with long-term protection.
What is covered by Toyota’s extended warranty?
Toyota Platinum Protection covers an exhaustive list of powertrain and cabin systems. The second Toyota extended warranty option, Gold Protection, is an adequate mid-level coverage option with a significant number of component coverage exclusions. Toyota’s entry level extended warranty tier, Powertrain Protection, only guarantees coverage for essential powertrain components, such as engine, transmission, and axle-assembly systems.
Remember, if you’re not happy with the pricing structure or coverage exclusions of Toyota’s extended warranty offerings, you can evaluate alternative extended warranty options by contacting a third-party provider.
Is Toyota’s extended warranty refundable?
Yes, Toyota’s extended vehicle service protection plans can be cancelled for a full refund if you change your mind within 30 days of purchase. After the initial 30-day period, your extended Toyota warranty will be refunded under a prorated warranty model minus a one-off $50 administrative processing fee.
The same is true for most third-party extended car warranty companies.