I am going to pick up my car Saturday. Its a 2008 Toyota Corolla S. The standard warranty is 3 years/36,000 miles. For an extra $30 something a month I will have 10 year/100,000 mile warranty. Would it be worth it to get that? I had a Corolla before, but long ago - it was a 1992 and it was a great little car... I don't want to "waste" the money, but really if something ever did happen to the engine or transmission it would be covered.... would you get it?
2007-12-09 08:01:02 · 19 answers · asked by Janessa 4 in Cars & Transportation ➔ Buying & Selling
You didnt say but I am going to assume you plan to keep this car a very long time..
That being said here is my thoughts all cars are nuts and bolts....even Mercedes Benz has a service department. With hourly labor rates approaching $100 and the soaring cost of parts I say it is better to have the extended warranty and never need it than to need it and not have it....most people find it easier to budget a little extra each month than to come up with $2000- $3000 all at once. My wife had a Subaru that had the cv joints go 3 times and the warranty covered it every time to the tune of over $3000. Many people arnt aware of the fact that you can also negotiate the cost of an extended warranty with the dealer you should try to do this....good luck with your new car! I think you made a nice choice.
2007-12-09 10:35:35 · answer #1 · answered by Anonymous · 1⤊ 0⤋
them warranty's are good for nothing anyway.. i know a person that got a brand new car with a warranty.. the things tranny stopped working a month after.. they took it in and had it looked at and got a bill said the warranty only covers certain things. but not all and its funny because that "certain thing" is always something else other then whats wrong.. i my self bought a new truck and 4 month later it died on the road.. and i had to towed to the dealer. i was told the warranty did not cover the problem and they gave me a bill for 800 bucks.. so.. the warranty is just a scam anyway.. if you want to extended it and give away extra money for nothing that's up to you
2007-12-09 16:08:43 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Some people will never use it and it would be a bad investment for them. Some people will have one item that more than pays for their cost.
If you don't have much disposable income and would be in serious financial trouble if you had to pay for repairs along with your car payment then I would buy the warranty.
If your contract is 60mn then the warranty with interest is only 1800, or 2100 at 72mn. That seems like a fair price to me for a Toyota warranty (depending on what it covers). If it isn't a Toyota warranty, I wouldn't buy it.
2007-12-09 20:42:26 · answer #3 · answered by Confused 3 · 0⤊ 0⤋
Yes,Last car I had blew out a head gasket at 79000 miles. & also some other stuff went wrong with it right afterwards,.We were really glad that we had the extended warrenty for all of the repairs. It really came in handy. I had another new car,in which when the car was only a little over a year old the alternator went out. I didn't get the extended warrenty for that one. You just never know what the future is going to bring. It's a gamble of sorts. Honda have a really good reputation these days though. But you never really know what the future is going to bring. The extended warrenty is sort of like an expensive insurance for your car breaking down .sometimes it is worth having.....
2007-12-09 16:27:13 · answer #4 · answered by latachia_2 5 · 1⤊ 0⤋
Research has consistently shown extended warranties to be a poor investment. Most people pay out considerably more for the warranty than they collect in benefits from it. You'd probably be better off to save the $30 per month in a money market account, to help defray the costs of (remotely)potential maintenance not covered by the standard warranty.
2007-12-09 16:10:16 · answer #5 · answered by legendofslipperyhollow 6 · 2⤊ 0⤋
I sold Toyota's back in the 90's and hardly anything went wrong with them. We used to sell extended warranties but only to get the commissions. However very few people took extended warranties and the one who took it they never used it anyway. So the answer to your question is if you are going to keep your car for 10 years or gonna drive it more than 20k a year then yes think about it otherwise don't bother.
2007-12-09 16:07:50 · answer #6 · answered by Ali K 4 · 0⤊ 0⤋
I would get it. As long as it's a GM warranty which it should be because it's new. Many big problems occur after the first 3 years. I would go for it to be safe. It would be better to pay 30 extra a month than to have to fork up 500 or more when something horrible goes wrong.
Good luck and congrats.
2007-12-09 16:06:57 · answer #7 · answered by Anonymous · 0⤊ 0⤋
I consider these extended warranties a waste of money. I've had a couple of them in the past and never got a dime's worth of value from them. They are NOT THE SAME as the manufacturers warranty and have a lot of exclusions in them and don't cover as much as you think.
2007-12-10 00:34:38 · answer #8 · answered by Scott H 7 · 0⤊ 0⤋
No - I would definitely not get it. The Corolla is one of the most trouble-free and reliable cars out there.
So I would not waste my money on the extended warranty - which seems very overpriced to my mind.
2007-12-09 16:06:44 · answer #9 · answered by John L. L 2 · 1⤊ 0⤋
I would not buy the extra coverage,
you woud be better off to put $20 a month in your savings account incase something goes wrong with the vehicle down the road.
It would be cheaper and if you don't ever have a problem but decide you want a new car... the money is available as a down payment.
2007-12-10 11:45:16 · answer #10 · answered by msdagney 4 · 0⤊ 0⤋