In theory, extended warranties make little sense for anybody, all things being equal. The warranty offerer is going to make money, on average a little from everyone. But in practice, some will cost a lot of money (the "winners" who have repairs in excess of the cost of the warranty) andmore will make them money (the "losers" who never use the warranty). The question is what is the ratio of winners to losers and where do you fall? I just bought my Camry today and I got the 7 year platinum for 1000 dollars with a $50 deductible. Will I have more than $1000 in repairs? Probably not. Will I have the money to pay for it if I do? Likely, but not 100% for sure. But I could afford the 1000 now, so I took the safe road.

 

Warranties are for a "peace of mind". That's why I got it.

 

I agree. Odds are I will not need it. But with shop labor rates over $100 an hour, just one or two repairs will exceed the $799 I paid for my 6 year 100K extended warranty. I highly recommend Mark McCasland over at Midwest Toyota Superstore (Kansas) - (620) 662-6631.

 

See April 2008 article from Consumer Reports at http://www.consumerreports.org/cro/c...ranties-ov.htm. Good read, but probably won't surprise you. FWIW, I went with the extended warranty when I got my TCH nearly 2 years ago. I figured there could be some bugs to work out. (And my 1999 VW Passat had an almost $700 bill to replace the failed radio antenna, which left a bad taste in my mouth!)

 

I just bought my TCH with 11209 miles on it. It was a demo vehicle. Am I still able to buy an extended warranty if I decide I want it and if so how long do I have to purchase it?

 

Yes. You have until the original 36 month/36,000 mile warranty expires to purchase an extended warranty.

 

Thanks a lot. That gives me some peace in mind knowing I don't have to make a decision right away.

 

I have had my TCH for 4 days and I bought an Extended Warranty. Is it possible to ask the dealer for a ExtWarranty refund? In other words...I changed my mind and want my money back?



Note: this is only the 2nd warranty I have EVER purchased. The first was on a High Definition TV I bought 2 years ago and that has already proven to be a WISE decision...and saved my over $1,100 on repairs. Maybe that is what influenced me to by the EW on the TCH??? But I understand they are quite different regarding quality.

 

I really doubt you can get your money back, but if you can let me know cuz I will do the same!
I paid like $1700 for my ext. warranty!

 

$1700? Ouch....shop on the Internet, my friend.

Starting 4/1/2008, Honda is forbidding delaers from selling extended warranties over the Internet, due to price pressure (and to pad dealers' profits). Shame on Honda for being anti-competitive. Let's hope Toyota doesn't follow suit.

If you cancel within 30 days, you can get a full refund. After that you can get a prorated refund on your Extended Warranty. See the agreement for details.