Your thought's on extended warranty

[Buckshot-73]

We bought my lovely and talented wife a " new " car Saturday... 2012 Toyota Camry, loaded up, 26,000 miles.

We plan on keeping it for ten yrs. at least. The dealer offered an extended, bumper to bumper warranty, for $1,500.

Would you get it?

I am on the fence.

[bowhuntntxn]

If you use it over the span to cover $1500 worth of repairs then it works out. If not you just gave someone $1500 for nothing. Have you had that amount of repairs on previous vehicles?

[SB09]

It's just too expensive to replace these high dollar computer components anymore. It used to not be a big deal. But, now that cars came have 7 different computer systems on board. It's just not worth it go without the warranty in my opinion. Use it once, you're money ahead.

[cbrown]

I'm like them. Just make sure you know exactly what you are getting and exactly what is covered. I have used an extended warranty once, it saved me from having to pay for a new motor.

[hopedale]

Yes, I think its worth it. I got the extended warranty on my Chevy and it paid for itself twice.

[Mayhem]

For $1500 yes.

[mjhaverkamp]

I have never bought an extended warranty, for the most part I think they are a rip off, I have a friend that is the sales manager at a big dealership, he told me you are basically paying for your repairs in advance.

[Mtltx]

I never buy them for new vehicles. Maybe I would for a used one. If they say $1500 for the warranty and " roll" it into the payment. Your actually paying waaaay more than $1500 for it. I think a lot of people for some reason think that when they hear the term " roll" it into their payment they're getting a great deal. In reality they're being taken advantage of.

[txjustin]

How long is the warranty for? I imagine it's 5 years or 100k miles.

I vote yes, and I don't usually buy warranties.

[TX_Hoghunter]

In my opinion there are normally a waste of money. Remember they are in the business of making money. If they are selling it for $1500 then the normal vehicle of that make and model will require less than that in repairs. That is how they make money. If you want to have a little security that that $1500 and put it in the bank or the stock market and use it has needed for repairs. You will probably be miles ahead in the end.

-john

[Buckshot-73]

We traded in a 2004 Chevy Impala with 185,000 miles. The last 18 months, yes we spent over 1500$ on repairs. The first 8 yrs were trouble free. We got our money's worth.


As far as electronics, that is what the dealer pointed out on the new car... After 36k, only drive train is covered.

I understand the Factory extended warranty is pure profit for dealer... They are betting I never need it... Which is very possible.

I am betting I will need it... For computer or whatever.

At $100 an hour for labor, a couple times in the shop will pay for itself... That's why I am still on the fence.

[Buckshot-73]

It has everything but back-up camera.

Again, we keep our vehicles till the wheels fall off.

[Charles]

Read the fine print of the agreement.

Do you due diligence on the company underwriting the policy. See how many complaints they have?

Read the fine print.

[jer_james]

If it were another Chevy or a Ford car you were buying, I would think it would be a necessity. If you take care of your Camry, you wont need anything other than regular maintenance. That car will run forever and then some with the right care.

There are also independent places that sell warrantys that you can look for after your factory is up. It's basically what they are selling you. It covers all major components and will run cheaper than $1500.

[Shooter]

I never buy them, but I have friends who can repair just about anything.

If you feel you need it keep in mind those warranties are definately negotiable. They always come down in order to sell it.

I bought my daughter a new Honda CRV in 07. They pressured me hard to buy that warranty but I did not take it. Here it is 2015 and I have never done anything except normal maintenance.