Corolla LE 2011 - is extended warranty worth it?

[blueridgemts]

I'm wondering if my extended warranty, which consists of a total of 100,000 miles / 7 year upgrade (compared to the complimentary 25,000 miles / 2 years), is worth the extra expense every month. I have heard that it is a reliable car, but I can be a little paranoid. However, cost is a factor and I'm just wondering if it's worth the extra $40 a month for five years. Should I worry about a new warranty when my 25,000 miles/2 years is up instead of paying for it now? Thoughts? Thank you!!

[SuperchargedMR2]

The 2 year/25k miles is not a warranty but is a free maintenance period. The warranty is 3years/36k miles bumper to bumper & 5years/60k miles powertrain. An extended warranty is always a personal choice. The only Toyota I ever bought one for is my 2010 Prius because of all the technology in the car. It would also depend on the price you paid. There are a couple of dealers that you can get much better pricing from through TN.

[TFCommanderBob]

We bought one on my wife's 2011 Mazda 2 because of how new the model was. We did not buy one on the corolla, although I will probably drive it til it drops.

Like SuperchargedMR2 said, it is a lot of personal preference with warranties. You are playing the lottery when you buy/don't buy one. I'll say in general I don't think they are worth it, even though I've sold a bunch of them on computers and tv's over the years.

[SuperchargedMR2]

I was in the audio/video retail world for 15+ years & I sold a ton of extended warranties of tv's. If you can get the extended warranty for cheap that you may feel better about it.

[PhatRoyale]

It's your call really and depends on how long you plan on keeping the car.

[emptyminded42]

I personally didn't get the extended warranty when I bought my 2010 in Aug '09. I had a 4-month stint in the quality department of the company I intern for and my boss (who had been a quality leader for Boeing, a gov't inspector, and now quality lead at my facility) said that if you buy an extended warranty that you're betting that the company you're buying the warranty from has screwed up on their component life-ing and will end up having more parts fail than they expect. So, basically, you're betting that they don't know their hardware and you're probably gonna lose. But, he said, you're also paying for piece-of-mind and insurance against expensive repairs. Just know that you're probably not gonna get more out of it than you pay. But, peace of mind definitely is worth something.

Just my $.02, if it helps.

EDIT: They probably won't let you tack on the extended warranty later. I asked my dealer if I could add it as the regular warranty ended and they said no. So you may want to ask your dealer if you can add it in later.

[SuperchargedMR2]

You can add an extended warranty through any Toyota dealer before you reach 36 months or 36k miles.