Extended warranty necessary?
#31
12-21-2007, 07:20 AM
Active Enthusiast
Join Date: Jul 2007
Location: Oregon
Posts: 244
Re: Extended warranty necessary?
Obviously, as in any crapshoot, there will be winners and losers. The bottom line is that statistically, most people will lose with an extended warranty.
As an example of the other extreme, I've refused every extended warranty (except one car and two notebook computers) ever offered to me and have never had something fail in the extended warranty period except for one notebook, and its repair was less costly than the warranty. In the case of the car, an 86 Taurus, the first year of manufacture and a "loaded' car, there was one failure in the extended warranty period, a power seat motor, and it turned out NOT to be covered!
As an example of the other extreme, I've refused every extended warranty (except one car and two notebook computers) ever offered to me and have never had something fail in the extended warranty period except for one notebook, and its repair was less costly than the warranty. In the case of the car, an 86 Taurus, the first year of manufacture and a "loaded' car, there was one failure in the extended warranty period, a power seat motor, and it turned out NOT to be covered!
#32
12-21-2007, 07:47 AM
Feral Engineer
Join Date: Jan 2007
Location: Detroit Area
Posts: 496
Re: Extended warranty necessary?
If I followed your logic I (personally) would be thousands of dollars poorer than I am today.
I agree, it's sort of a crapshoot but so far I'm so far ahead of the game a I just "let it roll" and get the warrantee.
Obviously if I did not keep my cars for more than 7 years I would rethink my logic. But I hold on to my cars (generally) and that seventh year in the extended warrantee has been a godsend for me every time. Not just once but at least the last four Toyota's I've held on to.
YMMV.
It doesn't take much for ANYTHING to break on even the best cars. And at $700 for the policy (which is FAR below MSRP) I think it's fairly cheap insurance at that and Toyota may not be making much at that price point.
I agree, it's sort of a crapshoot but so far I'm so far ahead of the game a I just "let it roll" and get the warrantee.
Obviously if I did not keep my cars for more than 7 years I would rethink my logic. But I hold on to my cars (generally) and that seventh year in the extended warrantee has been a godsend for me every time. Not just once but at least the last four Toyota's I've held on to.
YMMV.
It doesn't take much for ANYTHING to break on even the best cars. And at $700 for the policy (which is FAR below MSRP) I think it's fairly cheap insurance at that and Toyota may not be making much at that price point.
#33
12-21-2007, 05:17 PM
Active Enthusiast
Join Date: Sep 2006
Posts: 142
Re: Extended warranty necessary?
All of the previous posts discouraging extended service waranties have some merit.....but.....The 2007 camry hybrid is a first year production car. Yes. I know Toyota has been building hybrids for over 10 years now, but 2007 is still year one for Camry. My point is, if you put on higher than average mileage, say 25,000 miles a year your new car warranty will be over in approximately 16 months. Under these conditions, high yearly mileage, added to the fact of first year model, I would actually RECOMEND an extended warranty. I fall into this catagory and I purchased a Platinum edition 7 year 100,000 mile warranty, with a "0" deductable for $990.00. My dealer met the on line price. Now my anniversary edition Camry hybrid is covered for about the next 4 years. Longer if I start putting less mileage on. JMHO.
#36
12-22-2007, 03:58 PM
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Thread Starter
Join Date: Dec 2007
Location: new york
Posts: 53
Re: Extended warranty necessary?
OK Just got home with the new TCH.
..beautiful car..and loads of reading material.....Wish its wasnt dark out...would like to "play" with it...
Anyway...business manager quoted $2100 for th 7 year 100,000 warranty but mgr came in and offered it for $1600....still too high espcially for this time of year...will have to research...still not sure if it is necessary...If the nav etc goes the faults should come out before 3 years..(optimistic with Toyotas!)
..beautiful car..and loads of reading material.....Wish its wasnt dark out...would like to "play" with it...Anyway...business manager quoted $2100 for th 7 year 100,000 warranty but mgr came in and offered it for $1600....still too high espcially for this time of year...will have to research...still not sure if it is necessary...If the nav etc goes the faults should come out before 3 years..(optimistic with Toyotas!)
#37
12-23-2007, 10:18 AM
Enthusiast
Join Date: Dec 2007
Posts: 4
Re: Extended warranty necessary?
Can you please let me know, where did you get this deal.
Can you please post the link here.
Thanks
#38
12-23-2007, 10:21 AM
Enthusiast
Join Date: Dec 2007
Posts: 4
Re: Extended warranty necessary?
Can you please let me know, where did you get this deal. dealer name, number etc.,
Can you please post the link here.
Can you please post the link here.
All of the previous posts discouraging extended service waranties have some merit.....but.....The 2007 camry hybrid is a first year production car. Yes. I know Toyota has been building hybrids for over 10 years now, but 2007 is still year one for Camry. My point is, if you put on higher than average mileage, say 25,000 miles a year your new car warranty will be over in approximately 16 months. Under these conditions, high yearly mileage, added to the fact of first year model, I would actually RECOMEND an extended warranty. I fall into this catagory and I purchased a Platinum edition 7 year 100,000 mile warranty, with a "0" deductable for $990.00. My dealer met the on line price. Now my anniversary edition Camry hybrid is covered for about the next 4 years. Longer if I start putting less mileage on. JMHO.
#39
12-23-2007, 01:45 PM
Active Enthusiast
Thread Starter
Join Date: Dec 2007
Location: new york
Posts: 53
Re: Extended warranty necessary?
YES I'd like to know too.............THANKS
#40
12-23-2007, 02:54 PM
TCH 2007 newbie May 07
Join Date: May 2007
Location: Buzzards Bay
Posts: 111
Re: Extended warranty necessary?
Troy Dietrich at Greenfield Toyota
Phone 413 772-0231 or 800 255-0212
This is what I've got on record, prices change over time, could be higher than what I paid about a year ago.
Let us know how you all make out!
Phone 413 772-0231 or 800 255-0212
This is what I've got on record, prices change over time, could be higher than what I paid about a year ago.
Let us know how you all make out!
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