Not if you have any sort of mechanical clue. It's a very low mileage car with a good reliability record. It's doubtful that you'll have 2500 in repairs anytime soon. You'll fix minor stuff yourself inexpensively, do a few of your own services, and move on.
BUT
If you are a guy that hits up the dealership every time something is amiss, it might be a good deal for you.
There is nothing wrong with being either guy... but it changes the picture quite a bit.
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First, your car should still be under manufacturer's warranty. What are the warranty terms in your country? In the US it's 3 years "bumper-to-bumper", and 5 years / 60k miles.
IMO it is a waste of money. Sure, there will always be someone who will have a story to support the purchase. However, the vast majority will never need it, and never see a return on that expenditure.
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08 4WD HL Limited, Magnetic Flint/Ash Leather, Toyo OC HT's 255/55/19's, European Horns, Extended Step Plate On Rear, DeBadged All Around. No NAV/DVD, OEM Hitch with Color Matched Fascia.Höen Endurance Amber Fog Light Bulbs.
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Actually, there are some cheaper alternatives. Some insurance companies offer something called "major mechanical breakdown insurance". Annual cost is about $35-40, and coverage is 7 years (unlimited mileage). If does not cover everything and there is a deductible (usually same as your "comprehensive" deductible), but it does protect you in case of major, costly repairs. I have researched on different "consumer opinion" and "consumer protection" sites, and they actually say that when something serious hits you, it gives better coverage than "extended warranties" - don't know why, but that's what the "experts" say.
I got Toyota extended warranty when I bough my 08 HL back in 2007. 7y/75000M warranty was around $600. My factory warranty is over and it is good to know that I still have another 4 years of coverage from Toyota. $2500 seems to be way too much. Looks like your HL still have factory warranty at this time and it means that you're eligible for Toyota extended warranty. Stay away from third party warranty, you'll get burned! Look at this thread for Toyota extended warranty info Extended warranties: What are people paying?
I got Toyota extended warranty when I bough my 08 HL back in 2007. 7y/75000M warranty was around $600. My factory warranty is over and it is good to know that I still have another 4 years of coverage from Toyota. $2500 seems to be way too much.
They tried to sell us the extended warranty for $2500 too. Like I'm going to pay that much! Plus, I'm guessing I can get it cheaper from Troy if he's still selling it. Either way, I don't have to decide until just before the 3yr/36K mi warranty is up. BTW, they're trying to justify that higher price in that the $2500 ext warranty now goes 8 years, 125K miles (no deductible)...IIRC.
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Quote:
Originally Posted by Chalkie
That's why he be a moderator and we be the peons... cleverness!
I could never understand why extended warranty such a high mark up item at the dealer and since we here know where to buy it at the right price it worth to consider it even if HL reliability record is very high. I didn't get to use any warranty work so far and hope it stays this way.
It seems like most of you are against the extended warranty. The warranty is from a Canadian dealership. I do have a further year on the warranty and the extended warranty is 7 years in total or 120 000 km which ever comes first. I think I will reach the 120 000 km first in 3 years after the standard 3 year maufacturer warranty is over.
Any further comments?
I recently purchased a 2011 HL Ltd and when completing the purchase with the finance guy he brought up the extended warranty. His offer was 7/75k for $1600. I told him I hadn't even considered the EW and wouldn't be buying one today. After wrapping things up his boss came in and the price was $1495. As I was leaving the dealership I asked my sales guy if he could do any better. By the time I got home the offer was $1200 which was supposedly a great deal at $100 or so above their cost. Then I checked on this site and found the dealer cost is like $600 - $700. I'm gonna try to call the place in Kansas between x-mas and New Year's and see if I can get one for $50 - $100 over cost.
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1993 Toyota Corolla
. I'll move this thread to the Highlander forum as you're more likely to get responses/opinions in there.
Extended Warranty
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