Extended Warranty----Is It Worth Buying?
 

Hey guys, my wife and I just bought a pre-owned 2011 Camry with 10,700 miles on it. The dealer offered a 7 year/100,000 mile extended bumper-to-bumper warranty for $1495. This warranty has $100 deductible. Maybe I have more confidence in Toyota quality than I should, but I turned down the offer. What do you guys think about this? Is it worth it? Thanks in advance.

Keep in mind your extended warranty period is between the time when the various factory warranties expire (basic/drive train) and the extended warranty expires. As such do the math on the cost per year of any extended warranty.

Other factors can be engine model (some are better then others) and how much electronics such as on board navigation the car has (aka options that can break).

How long are you planning to keep the car?

How many miles do you drive per year. 7 into 100K is about 14K a year. Miles means more then years in terms of system failures.

Dealers profits are supposed to be 50% of the price as such lots of incentive to sell these warranties.

Dealers nationwide are free to set their own price on these warranties which are valid at any Toyota dealer. Suggest you check the Toyotanation website which typically has posts on what dealer is cheapest in the US and also do an internet search. Buying a warranty from another dealer is not uncommon.

As to opinions.

It has and is happening Camry owners are starting to encounter the same major problems ($$) at 50-60K and receiving the push off from Toyota.

If asked a few years ago I would have stated your wasting your money, now not sure. The car may go and go, or one major repair can pay for the warranty. If the warranty were cheap enough I would think long and hard about getting it. This assumes I would ever buy a new or late model Camry, which says something in itself.

Thanks Joey. My next question is: did you buy the extended warranty and if so for how much. And have you had any repairs done under warranty? Thanks!

Sorry can't help there.

The last late model car purchased for the family was a Hyundai. It is still under warranty and debating purchasing an extended warranty. Alas it is through a third party, not Hyundai. Third party warranties can be not so good and have yet to research this warranty.

For Camry have seen prices of $795 kicked around. Toyota's extended warranty is good.

You have time. Read posts on this at the Toyotanation site. To buy or not to buy a Toyota extended warranty has been kicked around for years. You will find lots of opinions! The site has many excellent posters.

Remember, I am biased. I only deal with what goes wrong with this model of car. For some reason Toyota seems to have lost it's vision, bla, bla, bla. But this is another story. One reason we have a Hyundai and not a Toyota.

I hear ya, Joey. We almost bought a Santa Fe because of the great factory warranty. My wife thought the Camry was better quality, but I'm not so sure any more. I've been hearing that Toyota quality has been going downhill, so I'll be buying an extended warranty for sure. I just found a 7/75,000 for $749 with NO deductible from a Toyota dealer in Littleton, CO. I think I'll take it as my wife only puts on about 8000 miles per year. Thanks for all of your help!

if yours is made in Japan, I'd pass on warranty and step up with religious maintenance. ones made in KY, I'd buy warranty, esp if you are not mechanically very apt. even with that, water pumps go on them below 50K miles. but you have factory 60K powertrain. why bother? you'll sell her before then anyway. or trade in.

My 2012 Camry Le now has over 120,000km. I wish I got the extended warranty cause shortly after 100,000km, the transmission started acting up. Upon diagnoses the Toyota mechanic concluded it needed a new torque converter which cost $2018 to replace. So, extended warranty on the 2012 Camry is advisable.