extended warranty needed?

[maltese123]

Hello Everyone,
I have a 2007 Camry 4cyl with 30,000 km, the factory warranty is about to expire. Is the extended warranty worth it or needed?

Here in Canada I am being quoted $1800 for 3 years (plus $200 surcharge which some dealers are willing to waive) . I find this very expensive!!

What is a reasonable price to pay for the extended warranty?

Thanks,
Paul.

[MarkieMoose]

Hi Paul.

Warranty costs are outrageous in Canada. They seem to be right around the $1800.00 mark. In the US they cost about half that much--or less.

Problem is, when you consider all the electronics in the car, and how much time it would take to remove and replace something as simple as a servo motor buried in the dash, the over priced warranty starts to look tempting. With shop rates around $100.00 an hour, it could easily cost $800.00 in labor and taxes to replace a $35.00 part.

We thought about setting aside the $1800.00 and using it for repairs if needed. But we ended up buying the warranty for peace of mind and to add to the resale value of the car. The warranty also came with the road side assistance package so we don't need to buy that every year.

Like any insurance package, we won't know how good it is until we need to use it; and we hope we never have to use it.

I think Toyota should offer everyone a free extended warranty to prove their commitment to their product and their loyalty to their customers.

Cheers,

[MJZ]

That sucks... mine cost $700 or so extending to 75,000/7 year Toyota OEM platinum warranty. It was bought at the time of purchase though.

[ngbdq]

You may want to consider it if your engine model is 2AZ-FE (likely it is)

See thread below:
GEN5 2.4L 2AZ-FE Stripped Head Bolts

[maltese123]

Correction - list price being quoted is $1800 for 4 years extended warranty. Best negotiated price at two dealers is $1593 plus taxes.



Paul.

[judge34411]

Originally Posted by maltese123

Hello Everyone,
I have a 2007 Camry 4cyl with 30,000 km, the factory warranty is about to expire. Is the extended warranty worth it or needed?

Here in Canada I am being quoted $1800 for 3 years (plus $200 surcharge which some dealers are willing to waive) . I find this very expensive!!

What is a reasonable price to pay for the extended warranty?

Thanks,
Paul.

Just my 2 cents, and I did not take an extended warranty at all.

An why do you have to have the extended warranty?

If you thought the car will fail in that time frame why buy it?

On average even with all the garbage going on about Toyota they are very good cars. An if there is a real problem with certain engines or other parts it will end up being a recall, or it should. Take the $2000 grand and stick it in a term deposit or such. An add 20 bucks or so a week to it. Before you know it you will have a wonderful down-payment on a new car. They love to do this to us Canadians. Also may I suggest learning to do some of the work yourself or at least find a good non Toyota garage that works at half the price.

An the same goes with a warranty or not you must do preventative maintenance. Even with the warranty it would void it if you did not.

Anyway just my 2 cents think about it

And good luck