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Toyota Camry 2007-2011: Is the Extended Warranty Worth Buying?

Deciding whether to get an extended warranty for your car can seem like a big hassle. While the Camry is renowned for its reliability, some owners prefer to take that extra step, especially those who plan on keeping that car for a long time.

By Kate Halse - August 3, 2015
Contributors: toyomoho

This article applies to the Toyota Camry (2007-2011).

Whether you're buying a new or used Camry, you may also be considering an extended warranty. This type of warranty often provides additional coverage beyond the basic engine and powertrain warranty. Historically, this type of warranty has been geared towards less reliable brands, where owners are more likely to need expensive repairs as the vehicle ages. Some Toyota owners feel safer knowing that their vehicle is covered under extended warranty, while others insist that the extra cost is generally not worth it. Let's take a closer look at what you can expect to get with an extended warranty, and whether or not it's worth the investment.

What is an Extended Warranty?

You can purchase an extended warranty for a new or used vehicle. For many drivers, it offers peace of mind, especially as the miles add up and the vehicle ages. However, extended warranties are often quite expensive. While they typically ensure more comprehensive coverage than you'll find with the traditional bumper-to-bumper warranty, some drivers find that their vehicle requires little to no repairs during the coverage period. The Toyota Camry is generally a reliable vehicle, but some models and years may be prone to more issues than others, making an extended warranty a worthwhile investment.

Figure 1. Example of Toyota Certified extended warranty options.

What's the Best Type of Warranty?

For many people, the dealership may seem like the most logical place to purchase an extended warranty plan. While Toyota offers an affordable extended warranty plan for new and used vehicles, there are other options as well. Some examples include insurance companies and auto clubs. Regardless of where you purchase your extended warranty, it's best to get the full protection, especially if you plan on keeping the car for a long time.

Figure 2. Available extended warranties.

Is It Worth the Investment?

Even the most reliable cars on the road are more prone to breakdowns and malfunctions as they age. If you're deciding whether or not to purchase the extended warranty, first consider the length of ownership. Those who plan on purchasing the car new and only keeping it for a few years may not benefit from an extended warranty. However, if your goal is to buy a Camry (new or used) and drive it for many more years, an extended warranty could be a worthwhile investment.

Figure 3. Determine whether or not an extended warranty is worth it when calculating maintenance costs.

What Should I Know Before Buying an Extended Warranty?

There's no getting around it -- many extended warranty plans are expensive and can cost several hundred dollars. While you can get a good deal if you look around for a bargain, you'll want to make sure that you're getting what you pay for. Manufacturers and reputable financial services companies are typically safe choices, while third party companies can be a gamble.

It's also important to figure out exactly what you're getting for the amount you're spending. Less expensive warranties typically don't cover more than major mechanical breakdowns. In contrast, the most expensive warranties generally cover almost any repair. A mid-range warranty will cover major breakdowns along with some wear and tear.

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