extended warranty or not

[frank]

I am thinking of buying a new toyota camry hybrid and was wondering if the folks here think the extended warranty is worth the money. it would extend the life of the factory warranty from 36k to around 100k and would be looking at 2k to 3k as far as cost. I am not generally a fan of extended warranties, but I bought a new prius previously with the 100k warranty and never go a chance to use the warranty, which I guess is a good thing, because no breakdowns. thoughts?

 

[Car-Guy]

How long do you plan on keeping the car and how many miles a year do you plan to drive it? But probably not for that price. Also I think the 3/36 is the bumper to bumper... The drivertrain should be good for 5/60.

 

[Aerides]

Not for a Toyota, no.

 

[frayne]

No, I would not for all the obvious reasons. The first being extended warranties are simply cash cows for the company issuing them and the second reason is Toyotas are very reliable vehicles.

 

[Montecfo]

No

 

[dmpi]

Camry hybrid are reliable cars. I don't think an extended warranty is needed. That said, if I negotiated the price to something like $500 I might just do it.

 

[ShokWaveRider]

Not

 

[freedomatlast]

No way.

 

[REWahoo]

I am thinking of buying a new toyota camry hybrid and was wondering if the folks here think the extended warranty is worth the money.

Nope.

Put that 2k to 3k in a savings account to pay for any potential repairs. Odds are very good you will end up with more than 2k to 3k when you eventually sell the car.

 

[Aerides]

One more reason for the "No" - do you drive 10-12k miles per year? I don't anymore, more like 5-7k.

Those warranties are usually miles or years, whichever comes first. If I bought your warranty, 10 years from now I'd have a 10 year old car with ~60k miles on it.

 

[ShokWaveRider]

Ask Clark.

 

[braumeister]

Nope.

Put that 2k to 3k in a savings account to pay for any potential repairs. Odds are very good you will end up with more than 2k to 3k when you eventually sell the car.

That makes the most sense to me. I skipped it when I bought my current car in 2018. Adding up everything I've spent on maintenance since then is considerably less than what I would have paid for the extended warranty.
And when you consider the great reliability record of Toyotas, it's a no-brainer for me.

 

[camfused]

Even for a Toyota, it depends on which model you are talking about. Some are very reliable, as you would expect from Toyota, and some are kind of buggy.

For instance, I have two Toyota RAV4 Hybrids, a 2017 and a 2020. The 2017 is a pretty reliable car with few reported problems. The 2020 is known for a number of non-trivial problems. I did not buy an extended warranty on the 2017, but I am going to for the 2020.

I am not sure about the current Camry Hybrids...I have not been following them.

You have up to 36 months to get an extended warranty. NEVER buy from the selling dealer...they will rip you off. The best deals, with very significant savings, are from the following:

Troy Dietrich
Factory Discount Warranty
Toyota & Ford of Greenfield
Fathers & Sons Audi & Volkswagen
Tel. 413-772-0989
Fax. 413-773-0196
Web. http://www.FD-Warranty.com

Jennifer E. Taylor
Lexus of Ann Arbor
590 Auto Mall Dr.
Ann Arbor, MI 48103
734-996-1662
jennifer@lexusofannarbor.com
www.lexusofannarbor.com

Jerry Johnson
Warranty Manager
Midwest Toyota
1100 east 30th Ave
Hutchinson, Ks 67502
800-530-5789
Cell 620-664-8844
jerryj@midwestsuperstore.com
www.midwestsuperstore.com

Ian Rosentreter
irosentreter@germain.com
(734) 242-3900 ext 1102

As you can tell, I follow forums for my cars, so I am up on this stuff.

 

[rk911]

we keep our cars forever (2003 Wrangler & a 2010 Liberty). back in '03 we bought a 3-yr/50k-mile extended warranty for the Wrangler. other than a small deductible per claim it was identical to the original factory warranty, no exclusions, no gotchas. we used it once or twice. that"s the ONLY type of EW i'd consider.

 

[rk911]

Nope.

Put that 2k to 3k in a savings account to pay for any potential repairs. Odds are very good you will end up with more than 2k to 3k when you eventually sell the car.

that's precisely what we did for our motorhome. we also added $X per month to the original amount to pay not only for repairs but routine maintenance.

 

[Jerry1]

I am thinking of buying a new toyota camry hybrid and was wondering if the folks here think the extended warranty is worth the money. it would extend the life of the factory warranty from 36k to around 100k and would be looking at 2k to 3k as far as cost. I am not generally a fan of extended warranties, but I bought a new prius previously with the 100k warranty and never go a chance to use the warranty, which I guess is a good thing, because no breakdowns. thoughts?

I think you’ve basically answered your question. My understanding is that the Camry Hybrid is a very reliable car. I have a friend how has taken two of the well past 200K miles. Though she does take it to the dealer and has them do pretty much anything they say needs done. She’s probably paid too much in maintenance, but the results speak well for the process. I’d do as other have said and tuck the money you’d have spent on the warranty and earmark it for maintenance. My guess is that you will not have any major repairs.

 

[2017ish]

My only new car to date (2013, when I was 53), I didn't even have insurance beyond liability from the day I drove it off the lot. No way would I buy an extended warranty.

Exception, I suppose, if you are concerned about having the cash flow to pay for repairs?

 

[6miths]

no.

 

[frank]

Even for a Toyota, it depends on which model you are talking about. Some are very reliable, as you would expect from Toyota, and some are kind of buggy.

For instance, I have two Toyota RAV4 Hybrids, a 2017 and a 2020. The 2017 is a pretty reliable car with few reported problems. The 2020 is known for a number of non-trivial problems. I did not buy an extended warranty on the 2017, but I am going to for the 2020.

I am not sure about the current Camry Hybrids...I have not been following them.

You have up to 36 months to get an extended warranty. NEVER buy from the selling dealer...they will rip you off. The best deals, with very significant savings, are from the following: Is there a specific site you go to to follow the rav/s or is there a forum that covers the different models of toyota?

Troy Dietrich
Factory Discount Warranty
Toyota & Ford of Greenfield
Fathers & Sons Audi & Volkswagen
Tel. 413-772-0989
Fax. 413-773-0196
Web. http://www.FD-Warranty.com

Jennifer E. Taylor
Lexus of Ann Arbor
590 Auto Mall Dr.
Ann Arbor, MI 48103
734-996-1662
jennifer@lexusofannarbor.com
www.lexusofannarbor.com

Jerry Johnson
Warranty Manager
Midwest Toyota
1100 east 30th Ave
Hutchinson, Ks 67502
800-530-5789
Cell 620-664-8844
jerryj@midwestsuperstore.com
www.midwestsuperstore.com

Ian Rosentreter
irosentreter@germain.com
(734) 242-3900 ext 1102

As you can tell, I follow forums for my cars, so I am up on this stuff.

Is there a specific site you go to for the rav/s or is there a forum for all the toyota models?

 

[arcyallen]

I don't think there's a wrong answer here. Two things to take into consideration when buying any warranty/insurance product:
-This is a calculated risk by the seller. They know overall they're going to make money (and you're going to lose money) on it, just like any warranty or insurance. That doesn't necessarily make it bad, because...
-You have to decide that, despite it usually being a poor mathematically choice, do you still want it for other reasons? Perhaps you want the warranty baked into the payments. Or you can't stand the idea of spending "additional" money on repairs. Or you'll just sleep better at night. I personally don't think any of the reasons are good enough for -me-, but if that's what works for you, ok. Despite me practically never buying these sorts of things, I'd avoid all-or-northing thinking on this. Here's why:

When I worked at RadioShack we had a set of earphones that sold for $40, occasionally on sale for $20. The 3 year warranty was $20. We sold a LOT of those warranties. Why? Because a customer could (and would) walk in once a year with those $40 headphones and, if they had any issue including a wire pulled out (which happened often during exercise, etc) we'd replace them. $120 worth of headphones for an extra $20. This is an anomaly, but a good example of where it might make more sense. Or you're booking a trip, and you personally have a much higher-than-normal chance of cancelling, then maybe the trip insurance makes sense.

 

[wolf]

Also, vote, No.

 

[ivinsfan]

You don't have to decide now. Run the car until close to the expiry of the original warranty. At that time if you've have repairs or issues you can price a warranty online, you can adjust the time and mileage to your liking....

 

[aja8888]

My friend just ran his VW SUV up to 100 K miles and bought an additional 40 K mile unanticipated repair contract (that's really all they are) for $2,400.

 

[camfused]

Is there a specific site you go to for the rav/s or is there a forum for all the toyota models?

rav4world.com. toyotanation.com is decent for other models.

 

[nobody]

No and my 05 Tacoma is in the shop now getting new head gaskets and while they are in it doing some other preventives. New design in 05 and mid of 06 Toyota figured out it is a problem and did a redesign on them. I knew it was coming. Its about a 5k fix at 145k miles and is really the only problem I've run into besides normal offroad wear since I bought her brand new.