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Extended Warranty Cost

  #1  
Old 12-02-2016, 05:34 PM
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Default Extended Warranty Cost

I am purchasing a new 2017 Camry Hybrid. How much should I pay for the 6 year/125,000 mile extended warranty? Is it worth the cost?
 
  #2  
Old 12-03-2016, 07:04 PM
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Are you talking about a 6/100K? There is a 8/125K which might be under $1400. Toyota offers lots of choices.

Prices can vary with dealer. Any dealer can sell this but for out of state purchases you need to go to the dealer in person to buy it. Call in state dealers for their quotes.

Is it worth it? This is your call. How long are you going to keep the car, do you do all your own repairs, how much do you drive each year? Will a major repair cause undo financial difficulty? Are you getting the optional stereo/navigation system that may fail prematurely?

The basic warranty is 3/36K with 6/60K on the power. The hybrid components have an 8/100K warranty. Rust through it 5/unlmited. The emission equipment warranty varies with component and can be up to 8/80K.

Given there are already warranties on the car. The extended warranty costs need to be amortized over the difference between the original warranty and the extended warranty.

Most modern cars should be expected to easily make it to 100K miles. However a major repair after warranty can be expensive.

Dealers mark ups on there warranties are high. Toyota expects to make a nice profit from selling the warranties. These warranties should be considered as insurance. If something breaks when the car is out of warranty, can you afford to fix it.

Some owners love extended warranties, others avoid it. Consumer reports has lots to say about these warranties.

Extended Car Warranties Are an Expensive Gamble - Consumer Reports

If getting a extended warranty, get from Toyota Corp, not a third party.

Most owners will NOT end up paying more out in repairs then what the warranty costs. Some find the warranty has saved them a lot of money.

I don't normally recommend them but understand why some buy them. Make sure you are not pressured to buy at the time of purchase (you can cancel any time) as there is a large profit on these warranties. You should be able to buy a warranty within a certain time/mileage frame after purchasing the car. Check with Toyota.

Take some time to read up and make an informed decision.
 

Last edited by toyomoho; 12-03-2016 at 07:06 PM.
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