As I stated in a previous thread, we recently bought a new Toyota Camry. Went with the Camry due to reputation and at our age, might be the last car we ever buy. Dealer had some add on's that we went for because we have 30 days to cancel and get a full refund. We bought GAP insurance for $800, extended warranty for $1960, road hazard for $415 and a maintenance agreement for $1400. That's a lot of money for something you may never use but I had reasons.
1. Bought the car for nothing down, no out of pocket costs with zero percent financing for 72 months. In six years a lot could happen and I want to protect my surviving wife from dealing with anything having to do with a car. Read somewhere the GAP insurance is important in leasing and on purchases where there is no down payment. My car insurance agent says I can add it to my policy for $24 year. I will get more information on this coverage tomorrow. Want to see if I'm comparing apples to apples.
2. Extended warranty is bumper to bumper on all mechanical, electrical and electronic parts, labor and parts for 10 years, 100,000 miles.
3. Road hazard cover all repairs and /or replacement of wheels and tires (original tires only).
4. Maintenance program. Covers 100% of maintenance for for 5 years, 35000 miles.
Without saying which of the above four I'm thinking about cancelling, thought I'd ask all the car nuts out there what they think about the cost associated with these warranties. Generally speaking, I'm lead to believe that none of the four are worth the price. Don't forget my objective, ie, I don't want my surviving wife to ever have to think about those repair/maintenance items. She just told me not to worry about it as she will just probably buy a new Cadillac every year.
1. Bought the car for nothing down, no out of pocket costs with zero percent financing for 72 months. In six years a lot could happen and I want to protect my surviving wife from dealing with anything having to do with a car. Read somewhere the GAP insurance is important in leasing and on purchases where there is no down payment. My car insurance agent says I can add it to my policy for $24 year. I will get more information on this coverage tomorrow. Want to see if I'm comparing apples to apples.
2. Extended warranty is bumper to bumper on all mechanical, electrical and electronic parts, labor and parts for 10 years, 100,000 miles.
3. Road hazard cover all repairs and /or replacement of wheels and tires (original tires only).
4. Maintenance program. Covers 100% of maintenance for for 5 years, 35000 miles.
Without saying which of the above four I'm thinking about cancelling, thought I'd ask all the car nuts out there what they think about the cost associated with these warranties. Generally speaking, I'm lead to believe that none of the four are worth the price. Don't forget my objective, ie, I don't want my surviving wife to ever have to think about those repair/maintenance items. She just told me not to worry about it as she will just probably buy a new Cadillac every year.
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