Purchase Extended Warranty?

[Mekks]

All depends, this day in age every stinking part has a chip in it. And with covid build quality it might be worth it.

The 22 explorer st I bought last year... I did purchase it.

 

[michaelluscher]

I only believe in factory extended warranties

Vehicle Service Agreements | Toyota Financial

www.toyotafinancial.com

 

[Srfridd]

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

Agreed. We're talking about a Toyota here, save the $1600.

 

[andrew_j]

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.

CRV after fact would reimburse for $2k repair on AC. So owner ended up ahead $200.

Mostly if repairs happen warranty is a prepaid repair fund , typically not far ahead.

 

[Lubener]

Having a vehicle with a good track record may not be a good candidate for an extended warranty. If you do get one, stick with Toyota only and stay away from all third party contracts.

 

[The Critic]

CRV after fact would reimburse for $2k repair on AC. So owner ended up ahead $200.

Mostly if repairs happen warranty is a prepaid repair fund , typically not far ahead.

Grey area. The warranty extension and TSB calls for replacing the compressor shaft seal only. Prior to the introduction of the tsb, everyone (dealer and aftermarket) were replacing the entire compressor.

 

[supton]

My Tundra had a CPO warranty, and it did pay out for a front diff rebuild, so that was nice. None of my other cars have needed expensive repairs inside of 100k.

I could see getting one with a new(er) purchase, just to feel good, but am quite iffy about anything that isn't factory backed. I'd rather bank the money. I'd rather buy something I didn't worry about either. I get it, anything can break, and anything can be a real gamble--but some vehicles are more known for problems, and some are known for expensive problems. I'd rather buy a cheaper car and save the money, than feel like I "need to" get a warranty on top of what is already an expensive purchase.

 

[E150GT]

I like em on used cars. Never got em on new ones. Just this month I used my used car aftermarket warranty to have my rear main seal replaced on a 2011 LS460

 

[wag123]

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?

Forget it, you don't need it. Furthermore, the price they have on it is way out of line.

 

[John105]

I'd say no. I bought one on a BMW 335i which everyone said was a slam dunk, and nothing on the car broke. I will tell my tale every time a person asks if they should buy an extended warranty, or not. My loss, is your gain. Fin.

 

[4WD]

Her DD = Yes
My DD = No