Congrats on the purchase....!

Hmmm...$1,400 seems pretty steep to me. Did you ask around to see how much it would cost? Also, can't you buy the extended warranty right up until you hit the 3 yr 36k miles? Why did you do it now?

(Not trying to criticize...just trying to understand as I'm going to be picking mine up soon and am wondering about the extended warranty.)

Absolutely right! Too much money! I hate extended warranties and turn 'em down for everything from refrigerators to telephones. The reasons I reversed my position and bought the warranty up front:

1. I can identify many of the components under the hood, most of which look really expensive to replace. I figure the transmission alone, which is now managing an engine, a motor, and determining if power's going in or out, would be prone to going manic (I would with that much stress.) After being told a transmission in a Dodge Caravan would be $2000 to replace, $1400 seems OK. This boils down to piece of mind.

2. The earlier you buy in, the more stuff they give you. It gets more expensive and they don't cover as much if you wait. The warranty offered at selling is through Toyota with no deductible. There are other things like hotel, towing, blah blah blah. I turned down the extended warranty on my Nissan pick-up truck several years back. The dealer's offer was through Nissan, but the mailings were for GE Services, I believe.

3. It could get built into the loan.

4. HSD is well tested, but it's still new.


I was extremely fortunate the dealer I bought from had no hidden costs, second stickers, or pointless upgrades, so it was eaiser to swallow. I'll be happy if I never need it.

By the way, the batteries are not covered by the warrenty (they have their own 80,000 mile warrenty.)

Thanks.

Quote:

Originally Posted by Freeze Absolutely right! Too much money! I hate extended warranties and turn 'em down for everything from refrigerators to telephones. The reasons I reversed my position and bought the warranty up front: 1. I can identify many of the components under the hood, most of which look really expensive to replace. I figure the transmission alone, which is now managing an engine, a motor, and determining if power's going in or out, would be prone to going manic (I would with that much stress.) After being told a transmission in a Dodge Caravan would be $2000 to replace, $1400 seems OK. This boils down to piece of mind. 2. The earlier you buy in, the more stuff they give you. It gets more expensive and they don't cover as much if you wait. The warranty offered at selling is through Toyota with no deductible. There are other things like hotel, towing, blah blah blah. I turned down the extended warranty on my Nissan pick-up truck several years back. The dealer's offer was through Nissan, but the mailings were for GE Services, I believe. 3. It could get built into the loan. 4. HSD is well tested, but it's still new. I was extremely fortunate the dealer I bought from had no hidden costs, second stickers, or pointless upgrades, so it was eaiser to swallow. I'll be happy if I never need it. By the way, the batteries are not covered by the warrenty (they have their own 80,000 mile warrenty.) Thanks.

I agree with all your points and that's why I also bought the 6yr/100K warranty but I bought mines at $1300. I had a disappointing experience when I first bought a 00 crv at 90K miles the cylinder head blew and I bought the crv brand new too so I had to fork up $4gs to fix it at a Honda dealership. I got so pissed that I sold it afterwards. No wonder I switch all my cars to Toyota!

I am officially a proud owner of a 07 Camry Hybrid and mah good 'ol 00 MR2 Spyder.

Sorry about my spelling: Warranty, not warrenty. Goodness.

I did talk the dealer down from $1500, but really, it wasn't a deal breaker. Funny thing is, I had all this paperwork in hand to argue the cost of the vehicle (turns out they were more honest than I expected), but didn't have a scrap of info about the cost, coverage, pros or cons of extending the warranty. Not good shopping on my part. I had expected the cost to be about $1000.

Quote:

Originally Posted by Freeze Sorry about my spelling: Warranty, not warrenty. Goodness. I did talk the dealer down from $1500, but really, it wasn't a deal breaker. Funny thing is, I had all this paperwork in hand to argue the cost of the vehicle (turns out they were more honest than I expected), but didn't have a scrap of info about the cost, coverage, pros or cons of extending the warranty. Not good shopping on my part. I had expected the cost to be about $1000.

I had a whole briefcase full of papers researched regarding the cost of the vehicle. I didn't even have any info on the extended warranty, just basic! The finance guy I dealt with was just honest and pulled out a price binder without any markups.

1500 for a 6 yr 100k mi warranty??

IS this warranty one of the Genuine Toyota extended warranties(gold or platinum care)?

Never seen the 6 year 100k mile option when I bought my extended warranty. I had problems at the dealer when I tried to get my insurance straightened out(in PA you have to show proof that your name is on the insurance, it doesnt matter if you are under someone elses policy or not, and I was under my dads insurance at the time) and ended up spending an extra two hrs at the dealer. They knew I was upset and the dealer offered me the toyota genuine certified platinum warranty coverage (I dont know if thats the name for it or not, but its the high end extended warranty) for their cost (he claims) which was 800 bucks. This warranty has no deductible and goes for 6 yrs 75000 miles, and is bumper to bumper. He said he could sell this warranty for almost double what I paid for it.

Quote:

Originally Posted by BJM5499 1500 for a 6 yr 100k mi warranty?? IS this warranty one of the Genuine Toyota extended warranties(gold or platinum care)? Never seen the 6 year 100k mile option when I bought my extended warranty. I had problems at the dealer when I tried to get my insurance straightened out(in PA you have to show proof that your name is on the insurance, it doesnt matter if you are under someone elses policy or not, and I was under my dads insurance at the time) and ended up spending an extra two hrs at the dealer. They knew I was upset and the dealer offered me the toyota genuine certified platinum warranty coverage (I dont know if thats the name for it or not, but its the high end extended warranty) for their cost (he claims) which was 800 bucks. This warranty has no deductible and goes for 6 yrs 75000 miles, and is bumper to bumper. He said he could sell this warranty for almost double what I paid for it.

I'm not sure about the price for 6yr/75K miles.

Apparently, there's different ranges with regards to the years and mileage options for the warranty and level (Toyota Gold or Platnium). It all depends on your driving habits.

When my husband and I lived in the east bay we would put in about 22K a year on mileage but now since we moved closer to the city we would probably get half of that, especially if we don't really take vacations, because we prefer driving instead of flying.

So we took the 6Yr/100K (in case we do take vacations), the finance guy were showing us 7yr/100K for like $1400, which is Toyota Platnium. When we looked at warranty, there was another choice, but then since the finance guy said it was a hybrid the best bet would be a Toyota Platnium. Anyway, the warranty is also transferable so I thought that was an added perk in any case we decide to sell the car later down the road.

The warranty is Toyota Platinum. It is literally a zero deductible extension of the bumper to bumper with a few (mostly worthless) perks and a few exceptions. I would be willing to bet I'll never use the hotel reimbursement, for example. If I'm that far away from home, I'm on vacation and would already have a hotel room, right? Silly. One really good perk: it's transferable (although significantly diminished.)

The most notable exception to the warranty is that it doesn't cover the batteries at all (they have their own.)

I suspect dealers get different prices from Toyota depending on their allotment of cars, service classification, and what state you are in. That, in combination with years of service and total number of miles you pick equates to dozens of different prices. What's important here is that it is through Toyota with no deductible, not a third party like GE Services which is usually a very poor deal.

Here's an incentive NOT to buy the extended warranty: if Toyota is selling 100,000 mile / 6 year coverage around $1400(+/-), they are banking on providing less service on each new car than that over that 6 year period. This is a money making proposition for Toyota. They're not going to offer it if it's going to cost more to service. If the warranty was $5000, I'd be backing out of the car all together because it'd be telling me Toyota's banking on some pretty heavy use of the warranty.

Thanks.