Purchase Extended Warranty?

[AJB0009]

We just purchased a 2021 Toyota RAV 4. Bought it at a dealership, so it is "Toyota Certified". Has 30k miles on it. My out the door price with all of the taxes, fees, blah, blah added on was $29,850.
Being certified, it has 1 year, 10k miles bumper to bumper warranty and 7 year, 100k mile powertrain warranty; from the date and mileage of purchase.
They offered an aftermarket warranty that makes the bumper to bumper 7 year, 100k mile with zero deductible for $1,644.
I said no. He said I had until Monday at Noon to change my mind.
I have been thinking about it last night and this morning.
On one hand, I probably will not need it, right? On the other hand, it would not take long to get to $1,644 if something does go wrong.
Thoughts?

 

[IveBeenRued]

As the owner of a 2020 RAV4 (hybrid), I’d say no. I have had zero dealer visits and I have 71K miles. Yours is the third model year of the generation; the new generation teething issues have already been addressed.

 

[Racer4]

Salesman is not telling you the truth. Go to rav4 world.com lots of information there on Toyota extended warranty. You can purchase the warranty any time before the factory warranty ends.

 

[Passport1]

We just purchased a 2021 Toyota RAV 4. Bought it at a dealership, so it is "Toyota Certified". Has 30k miles on it. My out the door price with all of the taxes, fees, blah, blah added on was $29,850.
Being certified, it has 1 year, 10k miles bumper to bumper warranty and 7 year, 100k mile powertrain warranty; from the date and mileage of purchase.
They offered an aftermarket warranty that makes the bumper to bumper 7 year, 100k mile with zero deductible for $1,644.
I said no. He said I had until Monday at Noon to change my mind.
I have been thinking about it last night and this morning.
On one hand, I probably will not need it, right? On the other hand, it would not take long to get to $1,644 if something does go wrong.
Thoughts?

Purchase Extended Warranty?​

I probably wouldn't because you have bought what is known to be an above average reliability vehicle. However... real world anecdote; my son bought a new 2020 Ford Explorer and did buy an extended warranty for $1200 (I think). Ford powertrain is 5 years/60K. At about 70K his ecoboost 3.0 developed the dreaded cam phaser rattle. Ford did an engine out repair and fixed some other things like a broken exhaust manifold and cat malfunction. $9000. Son paid nada. The warranty also just paid the major portion for a total moonroof/sunroof replacement because it leaked.

The story gets better. Yesterday he called to tell me that Ford has extended his warranty another 45K miles including all the required service maintenance (oil/filter changes etc.) gratis. They did this because he is a 'valued customer'. Extended warranties can be a crap shoot.

Bravo Ford!

 

[ecotourist]

A year gives you a chance to identify and resolve problems. Even if that's the end of the warranty you should have good running for a long time after that.

I bought my BMW with 1 year left on the warranty. That's exactly what I did. Then, having resolved all of the existing problems I had many years of trouble free service. Kept it for +/- 18 years and had very few out of warranty repair problems (a power steering hose, a mystery part in the heater fan circuit "that always goes bad on BMWs", an ABS brakes module that needed a low cost rebuild, a hood release cable). And that was on a BMW. A fairly reliable BMW but still... There were normal maintenance items of course: tires, batteries, brakes. I don't think I spent more than $1600 on repairs and maintenance over that entire period.

 

[doublebase]

I wouldn’t, but that’s just me. Not with a Toyota. You already have the power train warranty for 7 years 100,000 miles, and one year bumper to bumper. I doubt you’d need anything more (or even that). And anything “bumper to bumper” that does break after a year, you would have to go over $1,644 for it to be worth it. Toyota’s are not electrical nightmares, it’s not like computers are going to go bad and you’ll need things reprogrammed. I mean, stuff can happen I guess, but I’d risk it not happening. that’s just me.

 

[dishdude]

I wouldn't, especially not an aftermarket warranty.

 

[tblt44]

You probably have a 10 percent chance you will use it.
You can get to 1600 real quick in a/c, cooling system, transmission or engine issues.
It's like gambling, you win some you loose some.

 

[GON]

They offered an aftermarket warranty that makes the bumper to bumper 7 year, 100k mile with zero deductible for $1,644.

If you need to buy a warranty, but a Toyota warranty, not a aftermarket warranty. Aftermarket warranty's are often not worth the paper they are written on. Big no for aftermarket warranty. Maybe for Toyota extended warranty.

 

[The Critic]

Salesman is not telling you the truth. Go to rav4 world.com lots of information there on Toyota extended warranty. You can purchase the warranty any time before the factory warranty ends.

Actually, that may or may not be true. The situation gets a bit more convoluted since his is a Toyota CPO vehicle. If a vehicle has an active CPO warranty, it may or may not allow you to purchase the extended warranty that is available to the original owner.

I know that Toyota is offering up to 10/125k for extended warranties now and that may be worth buying.

 

[meep]

If it was extending the factory warranty, I might consider it. However a third party warranty seems too easy to have claims trouble with later.

I have had good warranty experience with my local Carmax, but used cars is their bread and butter, and I’ve also heard Carmax warranty experience varies per dealer.

 

[andrew_j]

My wife has a 2018 VW Tiguan with 140k since new. Not a single warranty issue. I would bank the $1600 in case but likely come out ahead…

Depends on personal finances and your amount in your emergency or rainy day fund .

 

[daves87rs]

Just put a small fund to the side. Done

 

[cptbarkey]

Its one of the most reliable vehicles on planet earth, so my vote is nope.

 

[brages]

It's like gambling, you win some you loose some.

Like gambling, overall the house wins

 

[eljefino]

Salesman is not telling you the truth. Go to rav4 world.com lots of information there on Toyota extended warranty. You can purchase the warranty any time before the factory warranty ends.

But he said there was a really short timeline and OP had to make a rash decision!

Wife 2019 Prius had blend door issues, I think I finally fixed them. Took a new "amplifier" (computer) but I also parts cannoned the actuator motor. To be fair there was a mouse nest in the cabin air filter, so a warranty might have weaseled out based on that. Still came out cheaper than 1700 bucks.

 

[The Critic]

Like gambling, overall the house wins

Lately, within my circle of friends, the owner has won with every extended warranty.

18 Camry 2.5: Timing Cover Reseal at ~90K. IIRC, retail cost for the job would have been just over the cost of the extended warranty.
17 CRV 1.5T: A/C Compressor ($2k) at ~65K, Fuel Injectors at 113K ($1500). Cost of Hondacare was around $1300.

I have a few more examples but those are the most relevant.

 

[Malo83]

No!

 

[demarpaint]

Under the certification it is supposedly has a 7 year 100K mile power-train warranty from the date and mileage of purchase. I'd save my money and pass on the extended warranty.

 

[97prizm]

We just purchased a 2021 Toyota RAV 4. Bought it at a dealership, so it is "Toyota Certified". Has 30k miles on it. My out the door price with all of the taxes, fees, blah, blah added on was $29,850.
Being certified, it has 1 year, 10k miles bumper to bumper warranty and 7 year, 100k mile powertrain warranty; from the date and mileage of purchase.
They offered an aftermarket warranty that makes the bumper to bumper 7 year, 100k mile with zero deductible for $1,644.
I said no. He said I had until Monday at Noon to change my mind.
I have been thinking about it last night and this morning.
On one hand, I probably will not need it, right? On the other hand, it would not take long to get to $1,644 if something does go wrong.
Thoughts?

Unless you purchase a hand-built super car I'd say no. I was a Lexus Sales Associate and although they pushed it rarely did people use it.