View Poll Results: Did you purchase an extended warranty?
Yes, I always buy extended warrantees
11
10.28%
Yes, I usually don't buy extended warrantees but did because the hybrid is 'different'
44
41.12%
I am still undecided what to do
10
9.35%
No, I never buy warrantees
35
32.71%
No, I usually buy warrantees, but I didn't this time
4
3.74%
No, I lease the car and wont keep it long enough to worry about it
0
0%
I haven't yet, but I definitely will
3
2.80%
Voters: 107. You may not vote on this poll
Do you have an extended warranty?
#11
Re: Do you have an extended warranty?
Try Dan Porter Toyota for a 7 year/100,00 mile Genuine Toyota Platinum 0 deductble warranty. This is the longest warranty Geniune Toyota Plan offered with the most coverage. Price $880. Seriously, I have the paperwork already. Retail from Toyota's website is $1850. I believe with the exception of 2006 and earlier...this is bottom price. I was able to get this price in 2007. I checked 7 dealers across the US and visited extended warranties for Camry Hybrids on this and other sites. Thanks to all who helped give advice. Here is the number to Dan Porter Toyota: (800) 626-3231 or 1-701-227-1272. I got my warranty from Erin Stanley. Hope this helps.
Best Prices I found elsewhere:
Midwest Toyota Superstore Hutchinson, KS Tyrone (620) 662-6631 $990
Midwest Ford Kansas Devin (620) 664-3011 $1090
Toyota of Iowa City Iowa City, IA Jarod (877) 267-0225 $1,280
Mechanicsville Toyota Mechanicsville, VA Marcus (804) 559-8000 Left 2 messages - call never returned
McGeorge Toyota Richmond, VA Betty Thompson (866) 360-1042 $990 + 2.5% VA tax = $1,014.75
Toyota of Greenfield Greenfield, MA Troy Dietrich (413) 772-0231 $990
Dan Porter Motors Dickinson, ND Erin Stanley (800) 626-3231 $880 If 800 line busy...1-701-227-1272
Best Prices I found elsewhere:
Midwest Toyota Superstore Hutchinson, KS Tyrone (620) 662-6631 $990
Midwest Ford Kansas Devin (620) 664-3011 $1090
Toyota of Iowa City Iowa City, IA Jarod (877) 267-0225 $1,280
Mechanicsville Toyota Mechanicsville, VA Marcus (804) 559-8000 Left 2 messages - call never returned
McGeorge Toyota Richmond, VA Betty Thompson (866) 360-1042 $990 + 2.5% VA tax = $1,014.75
Toyota of Greenfield Greenfield, MA Troy Dietrich (413) 772-0231 $990
Dan Porter Motors Dickinson, ND Erin Stanley (800) 626-3231 $880 If 800 line busy...1-701-227-1272
Last edited by bugs; 01-25-2008 at 05:52 PM.
#12
Re: Do you have an extended warranty?
Looks to me like the best time to get a good buy on a extended warranty would be March and April. Usually car sales are down those months, lots of rebates and etc.
I never bought an extended warranty. I trust Toyota's quality even if something went wrong and was out of warranty. It might not cost the $900 the warranty would cost to get the car fixed. A traction battery pack might go bad which is very rare unless your driving 200K miles or more. The hybrid system including the traction battery is covered by Toyota for 96 months (8-years) or 100K miles. No transmission to worry with and we all know of Toyota's engine quality. The 12 volt ECU or instrument battery in the trunk may need replacing after 5 years of use.
The '94 Corolla I had. The engine would start even before you could let go of the key. It had 185,000 miles with no engine trouble ever. I did used full synthetic oil once it was broke in.
I never bought an extended warranty. I trust Toyota's quality even if something went wrong and was out of warranty. It might not cost the $900 the warranty would cost to get the car fixed. A traction battery pack might go bad which is very rare unless your driving 200K miles or more. The hybrid system including the traction battery is covered by Toyota for 96 months (8-years) or 100K miles. No transmission to worry with and we all know of Toyota's engine quality. The 12 volt ECU or instrument battery in the trunk may need replacing after 5 years of use.
The '94 Corolla I had. The engine would start even before you could let go of the key. It had 185,000 miles with no engine trouble ever. I did used full synthetic oil once it was broke in.
Last edited by rburt07; 12-15-2012 at 12:41 PM.
#13
Re: Do you have an extended warranty?
I understand Toyota gives you until the end of the standard 3yr/36k mi standard warranty interval to purchase one of their extensions and I don't see any advantage to doing so before that time. Until that point, if the car is totalled in a bad accident or you decide you just don't like a hybrid and would like to trade it, most of the money spent on the extension will be lost. In addition, you'll have a better feel for how long you intend to keep the car and how many miles you are putting on it annually at that time, so you can choose the specific plan more wisely. You'll also have more information about whether the car model has any potentially trouble-prone areas.
I can only think of good reasons to defer on the decision to purchase an extended warranty until you have to. What are the advantages of making such a purchase up front?
I can only think of good reasons to defer on the decision to purchase an extended warranty until you have to. What are the advantages of making such a purchase up front?
#14
Re: Do you have an extended warranty?
Advantage (singular)...peace of mind.
That's it.
All it is is a security blanket that tells the consumer..."don't worry, any problems down the road wont cost you anything".
Sure, you're prepaying for the privilege potentially not paying for a repair in the future, but for some consumers, that's what they want.
It's a gamble...pay me $700 today and I'll save you money down the road...how much money? No one knows. Most consumers lose money on extended warranties (which is why the dealer tries so desperately to get you to buy it)
There are also some consumers needing an oil change who will only bring their car to the dealer, assuming that the dealer "knows the car better" and will take better care of the car than some gas station or oil change shop mechanic. I don't agree with that logic, but there are plenty of people who do.
That's it.
All it is is a security blanket that tells the consumer..."don't worry, any problems down the road wont cost you anything".
Sure, you're prepaying for the privilege potentially not paying for a repair in the future, but for some consumers, that's what they want.
It's a gamble...pay me $700 today and I'll save you money down the road...how much money? No one knows. Most consumers lose money on extended warranties (which is why the dealer tries so desperately to get you to buy it)
There are also some consumers needing an oil change who will only bring their car to the dealer, assuming that the dealer "knows the car better" and will take better care of the car than some gas station or oil change shop mechanic. I don't agree with that logic, but there are plenty of people who do.
Last edited by haroldo; 12-11-2012 at 12:26 PM.
#15
Re: Do you have an extended warranty?
I bought one for my '07 RAV4 Limited and more recently for our '12 TCH XLE. Got both at significant discounts off list. The RAV warranty cost me $805 and the TCH warranty just under $1,000. They're both Toyota warranties. I bought the RAV4 warranty from our local Santa Cruz Co. dealer after getting them to match a price I got from a dealer in Greenfield, Mass. I bought the TCH warranty from Midwest Toyota in Hutchinson, KS. It doesn't matter where you buy them; they're good everywhere. That is not true for the prepaid maintenance plans, which are only good in the states where you buy them. If you budget for the inevitable maintenance and repair costs as I do, they're not worth it.
I've used the RAV4 extended warranty a couple of times, once for an audio system issue and once for a failing fuel pump. I doubt if I've broken even yet, but I still have 14 months/57,000 miles to go on the warranty which has no deductible. Meanwhile, I'm piling up cash for scheduled service, tire purchases and whatnot.
I never questioned the wisdom of buying an extended warranty for the TCH, mainly because of all the complicated electronics.
The dealers have a lot of wiggle room on these warranties, as they're pure profit. I'm sure that Midwest Toyota still makes money selling TCH extended warranties for $999.
I've used the RAV4 extended warranty a couple of times, once for an audio system issue and once for a failing fuel pump. I doubt if I've broken even yet, but I still have 14 months/57,000 miles to go on the warranty which has no deductible. Meanwhile, I'm piling up cash for scheduled service, tire purchases and whatnot.
I never questioned the wisdom of buying an extended warranty for the TCH, mainly because of all the complicated electronics.
The dealers have a lot of wiggle room on these warranties, as they're pure profit. I'm sure that Midwest Toyota still makes money selling TCH extended warranties for $999.
Last edited by Aptos Driver; 12-15-2012 at 02:09 PM.
#16
Re: Do you have an extended warranty?
Yep, I'd say about $999 dollars of profit......
#17
Re: Do you have an extended warranty?
No way. I believe Toyota wholesales them to the dealers, though I don't know for how much. I just know there's a lot of fat built into the retail price. It'd be $999 of profit for Toyota if I never have to use it. But so is life insurance for the insurance writer -- until you die.
Last edited by Aptos Driver; 12-15-2012 at 02:11 PM.
#18
Re: Do you have an extended warranty?
To me it's like paying in advance for a repair that may never happen. The extended warranty is very negotiable as it's near a straight profit for the outfit that sells it.
#19
Re: Do you have an extended warranty?
Anyway, it's no different from other kinds of insurance. Your house may never burn down, but you wouldn't likely go without fire insurance and (wouldn't be allowed to by your lender if you have one).
#20
Re: Do you have an extended warranty?
Fire or life insurance is sold because the insured typically can't afford the risk. That's the basic principle of insurance, passing on the cost of an event that you can't afford to bear. To rebuild a house would set you back $300,000 or more. A head of household who dies will cost the family a million or more over the remaining years of that he might have had to provide for his loved ones. Since few can cover those risks, they pay for insurance.
But it's insane to compare that to "insuring" a car against a repair. No one wants to pay a few hundred for a repair...but is there anyone out there that can't afford it and needs insurance to cover it?
First rule of insurance...you buy insurance to cover items you can't afford to replace. You buy peace of mind for a house, an income earner or a diamond ring. You don't need to spend $800 to buy peace of mind for a $500 repair that might not occur