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Pricing and DealersDiscussions that are specific to vehicle pricing, preferred dealer pricing, current incentives, rebates, and experiences.
This is a discussion thread titled "Extended Warranty...yay or nay?", within the Pricing and Dealers forum, part of the Marketplace Forums category.
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this is going to be the last wheels i have and the dealer quoted me a stupid price " and will give it to me if i sign up now only" and i was not going to pay $1400 for 7 year 70 K miles not kilometers
there are some usa service managers that will write a contract on the web and my friend had done it so i checked and was almost 1/2 of the dealer price
it covers all the usual items and you get a loaner car if in the shop
NOTE, down here you can still get the longer warranty UNTIL 36K miles or 36 months so no pressure to get it !
il ook at it as a peace of mind insurance policy and for about $9.50/month i should not have to worry about anything !
i usually don't buy maintenance contracts, but i don't have to worry about hidden charges
and just see how much a service call cost after 36 months !!!
look at the cost of say a O2 sensor at dealer price, troubleshooting and repair time and if i use the policy two times it has payed for itself
BUT you have to make the decision and what is good for me ,might not be what you want !
Last edited by the.phantom; 03-20-2008 at 10:47 PM.
If I buy something that I expect will be needing repairs, I *might* consider an extended warranty. You are betting the darn thing will be in the shop. Frankly, I'd rather buy something reliable... perhaps a Toyota, for instance.
If it breaks, I'll pay for the repairs. But with an extended warranty, you pay for the repair whether it breaks or not. And with reasonable maintenance, odds are it won't break.
One other thing to consider: extended warranties are a huge money-maker for those who sell them. What does that tell us?
I say "nay" mostly because the issues with new vehicles I have bought get worked out in the b2b warranty period. There will be more later on, but this will be well beyond even the extended warranty period.
It's around $1700 to bump the 3yr/60K to 5/160K. For that you get 4 free oil & filters, tire rotations, tire protection, and all the good stuff like rentals, hotels, trip interruptor, towing, etc if you buy in the first 30 days. Otherwise you lose the persk and can still buy but they tack on another couple hundred bucks if you wait.
$1700? What a ripoff. Take that money, put it in a high interest savings account, and forget it about it. When your truck doesn't have a catastrophic failure in it's lifetime, you can use it for a downpayment on your next vehicle.
Unless you are a full time traveling salesman who will put the full 160k on in 5 years (32k/year!) and your livelyhood depends on a running vehicle, it's just a gimmick.
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The term you listed means its an aftermarket warranty. In general, aftermarket warranties are not worth it. There may be exceptions, but I prefer to stick with the genuine factory Platinum warranties.
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Now a sales manager at Stafford Toyota in Stafford VA. Call 540-720-4700 and ask for Steve Clifford... they will not know who "Cliffy" is.
I think people are getting confused. The person is from Canada, so the 160k is in kilometers, and not miles.
As for getting it, I look at them like insurance policies. You are required to cover your vehicle regardless if you ever have an accident. If you do, then its great you have it. If not, then it may seem like a waste. Same with the warranty. If you have it, and have to use it, then you did great.
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In general they dont recommend them as a waste of money. I bought one for my last truck, a Ford. Got so tired of the truck I got rid of it before I ever took advantage of it. I had the powertrain only version, one of the coil on plugs went out and it didnt cover it. Go figure, ignition stuff isnt part of the power train. With a toyota, I wouldn't bother.
Extended Warranty...yay or nay?
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