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Sedans Toyota Corolla Toyota Corolla Extended Warranty Advice
47 messages, Last post on Jan 30, 2009 at 4:09 PM
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I am buying my first Toyota and My second New Car in my life. I bought a 1985 Mercury Topaz in 1985 and kept it till 2002. I am buying today a 2008 Toyota Corolla CE with 26 miles on the odometer. I am planning to keep the car for a long time. I am financing through Toyota. Should I get the extended warranty? |
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Replying to: psalm10720 (Sep 27, 2007 2:15 am) 1) How many miles do you drive anually? 2) How long do you plan on keeping it? A little while after it is paid off (6-7 years)? Till the wheels fall off? It is difficult to make a recommendation without getting some background.
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Replying to: psalm10720 (Sep 27, 2007 2:15 am) |
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Replying to: chuckhoy (Sep 27, 2007 5:34 am)
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Replying to: psalm10720 (Sep 27, 2007 9:00 am)  That means that the bumper-to-bumper would only last a year an a half. The 100,000 mile warranty would only last 5 years. At that rate of mileage, I would NOT get the warranty. You will burn through it too fast to get any real use out of it. If you were a low miles person, it would work out better. |
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We're picking up our 09 LE model Corolla tomorrow. The sales people seem to be pushing the ECP warrantee, because "the Corolla has at least 13 onboard computers and if even one of them fail, you could be out thousands of dollars." We think we will be driving around 20,000 kms per year - mostly city. The 7 year/160,000 km warrantee would be an extra $1600 (+taxes). I'm not sure how long we will keep this car - probably around 3 years at least. I got the impression from the sales rep that while Toyota's engines have a proven track record, all the advanced computerization is new and needs extra coverage. Would greatly value advice as we have already paid a lot of money for this little car. Thanks.
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Replying to: bcgirl62 (Jul 10, 2008 1:09 pm) In any case, you aren't buying a warranty...you are buying an insurance policy...one that they make a good profit on, I might add. So, the question is...do you feel lucky? What's your past history with cars? Many or no problems? In the end, only you can answer if its for you. The law of averages tells you that the total expenses you will incur during the life of the warranty will be less that the cost of the warranty....
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Replying to: busiris (Jul 10, 2008 1:58 pm) We did just sell our 2001 Sienna. Never had a single problem with it until a few months ago when the a/c compressor went.....then a fuel sensor. Those were expensive repairs for us but it had 175 K on it when we sold it, so I think it was a good vehicle for us and we never had put an extended warranty on it. Our misgivings with the new car are regarding all the electronics...smart key, sunroof, etc. We haven't owned a vehicle before with this many gadgets. I appreciate your response. What you said was basically what we've been thinking. Just wanted to get some impartial feedback. Thanks! |
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Replying to: bcgirl62 (Jul 10, 2008 4:10 pm) The dealer is just trying to make money. |
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