Warranty vs Repair Costs - Advice Needed - Toyota Nation Forum : Toyota Car and Truck Forums

KUMA · 06-26-2005, 05:18 PM

Greetings to all. I've just purchased a 1998 Camry LE with 88,000 miles on it. The dealership offers a standard 12 months/12,000 mile warranty on the powertrain. However, I can get an additional warranty of 24 months/24,000 miles which covers powertrain plus steering components, brakes, a/c, front suspension (including struts), and electrical (alternator, regulator, starter, and solenoid) which costs 1,000.

The dealership will perform the 90K service before I pick up the car (included in our negotiated price) and are supposed to ensure it has no major mechanical issues as well as part of their inspection process. I have a short commute so 2 years will likely come before 24,000 miles. So my question to my fellow Camry owners is this:

Based on the repairs you've made on your Camrys and the cost, do you think I should reasonably expect my repairs bills for the next two years to be in excess of 1,000 dollars? If it was you, would you get the additional warranty?

Your collective advice would be greatly appreciated. I have not purchased this yet, but must whithin 2,000 miles as it not offered for vehicles with more than 90,000 miles. Thanks in advance.

PS: The dealership also has an "auto4life" powertrain warranty where they cover the powertrain for as long as you own the car if you bring it to them for oil changes and the required maintenance. (This is free.)

nobrainer · 06-26-2005, 05:26 PM

my grandmother has a 99 camry with about 70k on it I believe. She has not at all run into anyproblems EXCEPT for stalling/rough idle. That can be fixed by replacing the EGR valve (I think) and it is relatively inexpensive... especially if you do it yourself. Other than the stalling it runs fine and she hasn't had other problems. I believe the only money she has spent at the shop has been for tuneups.

By the way she has had it for 2 years and about 15,000 miles i'd estimate (she doesn't drive longdistances)

chronoti · 06-26-2005, 05:27 PM

i would say screw the extened warranty. if anything will go wrong it will go wrong in the 1st 2 months (new) after that is just up to fath and if you take good care of it.

ballistic83 · 06-26-2005, 05:29 PM

I also have a 98 Camry LE but mine is coming up on 91,000 miles. On that extended warranty it mostly depends on when and if a lot of that stuff was replaced. Within the last 5 or 6 thousand miles I've had to change my front two struts and strut mounts and my rotors. These two jobs alone would make up for about half the price of the additional warranty.

So my point is, if most of the major things like the struts, brakes etc have been replaced recently, I would say don't get the additional warranty. Also, you might want to get the car checked out by an independent mechanic so he can tell you what might need to be replaced soon and you can see if it will be covered under the warranty.

KUMA · 06-26-2005, 05:59 PM

Thanks for all the advice so far. I forgot to say it's an LE with a V6. It was a dealer trade-in so I have no idea what has been done to it already. (And the dealers always chunk whatever service records which come with the car due to privacy/legal concerns.) They were going to check the Toyota dealership that sold it to see what maintenace records they might have on it, but I'm not holding my breath. My test drive and visual inspection didn't turn up anything. But.... you know (buyer beware). The plus (or so I hope) is I've purchased it from a major local Toyota dealership so if they try and sell me with a car with a bunch of pre-existing problems then we're going to go round and round. They have a reputation to uphold versus the small mom and pop used car lots (and individuals) where "as is" certainly is.

KUMA · 06-26-2005, 09:57 PM

Anyone else, anyone? Thanks

Gary_602Z · 06-26-2005, 10:53 PM

Extended warrantys are money makers for the dealerships! Read the fine print! What does it really cover on the brakes? I am sure it doesn't cover the pads. What about the electrical and computers? Might not even cover head gaskets. Read the fine print!!

Gary

Cyorke · 06-26-2005, 11:34 PM

Ok I have to admit I sell used cars and of course we offer extended warranties to all of our guests. first I have to say that I would have never bought a warranty before I started selling cars. I personally have bought two Toyotas from the dealer I work for and I bought a warranty for both of them. One of them is my Camry and the warranty cost me about 900 dollars. I have to pay a 50 dollar deductible anytime I have a warrantable repair. To date I have had to have one axle replace and the starter. I have paid out 100 bucks to have those repairs done. the starter was a Toyota reman. Those cost you about 300 from the dealer if not more. The axle was from who knows where but I dont care. SO as of now I have had about 400-500 dollars worth of repairs done and I am covered on warranty up to 99k miles on a 94 camry. Sitll have about 25k miles to go. Well that is my story. As to whether the warranty the are offereing is worth it or not. You need to make sure the the warranty is an exclusionary warranty and not a stated warranty. If it is stated they tell you what they will repair or replace. ON the exclusionary they tell what they wont replace. Which is typically maintenance type items, brake pads, rotors, tune up, lights and things like that. I would also find out who the company is they are offering it through. Make sure they are a reputable company and are not going to go under in 6 months to a year and then you are stuck paying for a warranty that you cant use. You also want to make sure that you can take it to whoever you want to take it to have the repairs done. What happens in you are in BFE somehwere and you have to take it where they say you ahve to take it. The only other thing I have to say is if you have the money to cover repairs then maybe dont worry about it, but if you are on a tight budget or dont want to get caught having to pay 500-600 dollars for repairs one month in that time frame then buy the warranty. At 1000 dollars it is only going to cost you another 20 bucks or so a month. that is jsut my .02 worth. Feel free to PM me and I can give you more info on warranties from my point of view or I can answer more in here if you like. I know most people will tell you not to buy them but they can be good for some people. Remember you are buying a car that has 88k miles on it and you have no idea what has or hasnt been done to the vehicle.