A Toyota extended warranty can help you keep your auto repair expenses predictable and maintain peace of mind on the road, but is the coverage you receive with a Toyota extended warranty worth the cost?
For years, Toyota has been one of the best-selling brands around the world – and for good reason. The company makes affordable, durable and reliable cars. According to Motoring Research, the Japanese manufacturer had the highest number of car registrations (the only one to break eight million) in 2018. It also ranked in Fortune Global 500 as the 10th largest company in the world, according to revenue figures from December 2019.
Our team researched Toyota’s extended car warranty costs and services to see how they compare with leading third-party extended car warranty companies and help you determine if a Toyota extended warranty is right for your vehicle.
Toyota Extended Warranty Overview
The Toyota factory warranty comes standard as the company’s new vehicle warranty. Terms for this manufacturer’s warranty are relatively consistent across Toyota models but vary slightly for hybrid vehicles.
However, the terms of your factory warranty are very different from what you’ll see in extended warranty plans. Here are some of the warranty policies Toyota offers:
3 years/36,000 miles
Hybrid-Related Component Coverage:
8 years/100,000 miles (Hybrid battery coverage for 2020 models lasts 10 years/150,000 miles.)
3 years/50,000 miles up to 10 years/125,000 miles
5 years/60,000 miles
3 years/50,000 miles up to 8 years/125,000 miles
5 years/unlimited miles
6 years/100,000 miles
Coverages vary under federal and California regulations
When your factory warranty expires, Toyota will typically offer you the option to purchase an extended warranty. You can also buy a Toyota extended warranty at any time before your factory warranty ends.
Extended warranties continue the coverage for any vehicle repairs and parts replacements due to mechanical breakdown. Note, however, that a warranty doesn’t cover damages caused by accidents, which should fall under insurance. An extended warranty functions much like a factory warranty but with a longer coverage period.
Toyota offers three extended warranty plans, also known as Toyota Vehicle Service Agreements (VSAs). Here’s what each warranty covers:
1) Powertrain Protection
The Powertrain VSA is Toyota’s basic extended warranty plan. This powertrain warranty is available for new cars, meaning those less than 3 years old and with fewer than 36,000 miles. Used cars within the current plus 12 model years old and up to 150,000 total miles are also eligible.
The powertrain plan lasts for up to 6 years and 100,000 total miles, covering any repair costs or replacements of your vehicle’s engine, axle assembly, transmission and other components. In the event of major mechanical breakdowns, it will also reimburse car rentals for $35 per day, and meals and lodging for $50 per day, if you’re more than 150 miles from home (for a maximum of four days).
2) Gold Protection
Toyota’s Gold Protection is a more robust extended warranty plan. Although it has the same eligibility rules for new cars, the plan is also eligible for used cars within the current plus 9 model years old and up to 150,000 total miles.
Gold Protection also comes with more flexible terms. You can opt to have extended warranty coverage up to 8 years and 125,000 total miles for new cars or 5 years and 60,000 miles for used Toyotas.
The plan is extensive, covering in excess of 100 more parts than those covered with Powertrain Protection. If a breakdown prevents you from using your car, you’re also entitled to rental car reimbursements up to $35 per day, and meals and lodging up to $50 per day, if you’re more than 150 miles from home (for a maximum of four days over the warranty).
3) Platinum Protection
The Platinum Protection plan is Toyota’s highest level of service agreement protection. It has the same eligibility rules as Gold Protection but can extend as long as 10 years and 125,000 miles for new vehicles.
Nearly all of your vehicle’s parts are covered, from brakes to air conditioning to the power seat computer. You don’t have to worry about submitting any claims, as Toyota will pay the dealer directly.
Platinum Protection plan holders also have higher rental car reimbursements at $50 per day, and meals and lodging at $100 per day, if more than 150 miles from home (for a maximum of five days).
All Toyota plans come with 24/7 roadside assistance, free towing to the nearest authorized dealer and coverage across the continental U.S. and Canada.
Toyota Extended Warranty Cost
Like most manufacturers with extended warranty plans, Toyota doesn’t publish its prices. With so many customizable coverage terms and variations in covered repairs, a plan can go as low as $900 or well above $2,000. Your actual Toyota extended warranty cost depends on several factors:
Vehicle Age and Mileage
These are the two key factors that determine which plans are available to you. For example, cars under 3 years old with fewer than 36,000 miles can be covered by all of Toyota’s extended warranty plans. On the other hand, any vehicle more than 12 model years old prior or 150,000 miles isn’t eligible for coverage.
Once a car has passed its prime, it becomes more expensive to cover. As a result, the car’s age and mileage play a big part in determining its Toyota extended warranty costs and overall eligibility.
Type of Coverage
Extended warranty plans come with a choice of coverage plans and prices. Toyota’s Powertrain Protection, for example, is a basic plan that covers only major engine and auto components. Platinum Protection, on the other hand, offers comprehensive coverage and higher reimbursements. Of course, the more warranty coverage and service you opt for, the more your extended warranty plan will cost.
No matter which plan you choose, Toyota offers $0 or $100 deductible options. This is the dollar amount you elect to pay for any authorized claims related to a single repair or replacement. Choosing no deductible will usually mean higher monthly premiums, while a higher deductible can lower your premium payments.
There is a large variation in the size, cost and performance of Toyota models, from a $15,650 lightweight Yaris to a $58,500 fuel cell-powered Mirai. If your car requires special parts and services, you can expect higher Toyota extended warranty costs, as well.
Toyota extended warranty plans aren’t just available through the manufacturer – you can get them from third-party warranty companies as well. By widening your warranty search, you have the choice of more affordable plans and payment options. Also, you won’t be limited to getting your car serviced only within Toyota’s network.
To learn more about Toyota extended warranty costs, it’s best to contact your nearest Toyota dealer.
Is Toyota Extended Warranty Worth It?
Studies show people tend to hold onto their Toyotas, with 10 of the 15 cars that people keep the longest being made by the popular car brand.
The average ownership of a Toyota is about 10 years – long after the standard three-to-five-year factory warranty. If you plan to keep your car for the long haul, an extended warranty can protect you after the initial plan expires. Even if you don’t keep your car, extended warranty plans are easily transferable to the new owner.
A new car requires an average of $1,186 to maintain and repair per year. This cost will likely be higher for used vehicles, and even the best-made vehicles will eventually need some maintenance.
Along with covering these costs, extended warranties provide roadside assistance, rental reimbursements and your choice of service center. Ultimately, having coverage provides peace of mind.
A Toyota VSA is still likely to be at least $1,000, and it’s possible you won’t need a major car repair every year. However, if one expensive repair would do serious damage to your budget, the Toyota extended warranty cost you pay could be worth it.
What Are the Best Options for Extended Toyota Protection?
Toyota dealerships are not the only places you can purchase extended warranties. In fact, many third-party companies offer warranty plans that are cheaper and customizable to your needs.
Based on our research, here are three great warranty options from third-party extended warranty providers.
Best Provider: Endurance
Endurance is one of the largest providers of third-party vehicle service contracts. The company received an A+ from credit rating agency AM Best, is certified by the Vehicle Protection Association, and ranked on the 2019 Inc. 5000, which lists the most successful companies in America.
Endurance provides six vehicle protection plans:
- Select Premier: Designed for vehicles with high mileage, protecting important components such as the engine, transmission and drive axle
- Secure: The most affordable coverage option, covering the most vital and most expensive components, including the engine, transmission, transfer case, drive axle, fuel and turbo/supercharger
- Secure Plus: A higher level of coverage that covers steering, electrical and braking systems
- Superior: The highest level of stated component coverage available, providing comprehensive protection for hundreds of car parts
- Supreme: Exclusionary coverage for the maximum protection from any breakdowns (most similar to the original factory warranty)
- EnduranceAdvantage™: Covers mechanical breakdowns as well as maintenance, which is uncommon for an extended auto warranty
Each plan also comes with a year’s worth of Endurance Elite Benefits, which include 24/7 roadside assistance, key fob replacement, up to $1,000 toward a replacement vehicle, and more. For more on Endurance, check out our Endurance Warranty Review.
Runner-Up, Best Provider: CARCHEX
In business more than 20 years, CARCHEX is one of the leading third-party car warranty providers. The company boasts a perfect 10 score on ThoroughlyReviewed and gets an A+ from Better Business Bureau (BBB).
CARCHEX offers five levels of coverage:
- Bronze: Coverage for the major systems of your vehicle, including the most common and expensive repairs
- Silver: Popular for vehicles with high mileage, providing coverage for the major systems
- Gold: Comprehensive coverage and flexible terms for vehicles with over 60,000 total miles
- Platinum: Highest level of stated component coverage that protects hundreds of parts in a vehicle’s major systems
- Titanium: Maximum bumper-to-bumper protection and the highest level of coverage, with only a short list of excluded parts
Each coverage plan gives you the freedom to choose your preferred maintenance repair shop and pays the repair facility directly. The company also offers flexible and affordable monthly payments. For more on Carchex, read our Carchex review.
Most Affordable: CarShield
CarShield describes itself as “a company and coverage your budget can count on.” The company offers the following vehicle service contracts, all through established suppliers:
- Silver: Most affordable policy with coverage for most major parts of your vehicle, from engine to water pump
- Gold: Increased coverage for all major and minor vehicle parts, from engine and transmission to power windows
- Platinum: Intended for vehicles with high mileage, providing comprehensive protection for all the vital car systems
- Diamond: Similar to a manufacturer’s warranty
- Aluminum: Protects against electrical and computer-related problems
- Motorcycle and ATV: Applies to non-traditional vehicles, such as motorcycles and ATVs
For more on Carshield, read our Carshield review.
Conclusion: Toyota Extended Warranty
With so many auto warranty options available, it can take some time to decide which extended warranty is the best fit. Some Toyota owners favor the Toyota extended warranty for its brand certification and the access it gives you to factory-trained technicians. Other Toyota owners prefer the variety and coverage options of third-party providers.
It’s always best to compare providers by getting free quotes specific to your vehicle. This way, you can see how they stack up with each other before you make an extended warranty purchase.
FAQ: Toyota Extended Warranty
Can I buy a Toyota extended warranty later?
Yes. You can buy a Toyota extended warranty at any time in the first 3 years/36,000 miles you own the vehicle while the factory warranty is still in effect.
What does the Toyota extended service plan cover?
It depends. Toyota has several extended service plans that range from 2 years/24,000 miles to 10 years/100,000 miles.
Are extended car warranties a good idea?
This also depends. Extended car warranties do add a cost to vehicle ownership, but they can help you keep your finances predictable and give you peace of mind on the road by knowing you won’t face major unexpected repair bills.
The Detroit Bureau collects data from every major car warranty provider to formulate rankings of the best warranty companies. Our in-depth rating system takes into account coverage, pricing, transparency, customer satisfaction and ratings from industry experts. Each provider is given a weighted score in five categories, as well as an overall score out of 10.0.
We recommend auto warranty companies based on these rankings, but we also encourage you to perform your own research and compare quotes to find the best coverage.
*Figure accurate as of May 2017. Average monthly coverage cost is based on the average total price of the Vehicle Protection Plan over a four-year coverage period. Actual monthly payments will vary per plan’s payment policy. Individual pricing is subject to change based on the combination of make, model, year, and mileage as well as coverage level and term length.