extended warranty

Hi Nick

If it was me, I would not be wasting my money. It sounds like a case of the salesman wants extra commission by selling you and extended warranty.

85k the car would be just run in and any issues should have well and truely been sorted.

Depending on the age of the vehicle, it still might have remaining original new car warranty.

From what I have seen and heard of in the past, if you have to make a claim, they will use the excuse that that issue is not covered in the fine print.

Just my thoughts on saving you $1100



Cheers






Stephen

If it's the same warranty as Toyota sell for newish Toyotas, then it will be a lot better than if it's a third-party warranty - ie AWN or similar.

I've had both. I bought an extended warranty from Toyota for a Prado years ago. I bought it just before the standard new car warranty expired, and about a year later the water pump seized, taking the timing belt and other stuff with it. Toyota towed the car to the dealer, and replaced everything required - no cost to me at all. Given the car was about 15,000 km from requiring a new timing belt (and tensioners, water pump etc), I was fully expecting them to ask me to contribute.

I also got an AWN warranty included (for no extra charge) on a grey import nissan a few years back. Got home & read the conditions, and realised it wasn't worth the paper it was written on. The limits and excesses, aling with the service conditions, were beyond ridiculous.

The genuine Toyota extended warranty on a Toyota vehicle is worth the money. The after market "Insurance Policies " I wouldn't touch the a "dirty" stick. It sound like you're not getting the real deal. Don't waste your money.

Cheers Jon

I bought them for my two VW's Cost me about $3000 for the two Due to the fact that at 5 years old one has done 30,000 and the shopping basket has only done 19,000 it has proved to be a waste of money and as said the exclusions far exceed the inclusions.
But then after all the problems VW were having it looked like maybe being worthwhile.

However never had a claim of any sort

Bought a 2007 Honda Civic with the extended warranty. We found out the hard way that if the vehicle is not serviced as per the time frame - not the klms - the warranty is null and void. I told the salesman at the time of purchase that it was a second car for my wife and would be pushing to do 6000 k per year. No mention of the time line from the salesman.

Be careful!! Commissions can warp the truth.

Cheers,

Mike

My experience has been that extended warranties on cars bought new where the extension is through the brand (dealer), are ok even if they are actually provided by a third party because the dealer in my case advertised it as being essentially the same as the initial warranty. Extended warranties on second hand cars are not the same, the list of conditions and maximum payout liabilities usually make them not worth the money. Extended warranties are insurance policies where the premiums are calculated according to what the dealer wants to cover, that's why there is a big range of opinions about whether they are worth it. To put it in perspective, life insurance on a 30 year old is far less expensive than on a 60 year old and the same applies to cars. Two thousand dollars might give you full cover on a car that is 4-5 years old, but will only give nominal cover with a lot of restrictions on a 7-10 year old car.

I've had both Toyota Extended Factory Warranty and also Toyota Extended Warranty Insurance. Claimed under both - the second one recently for the rain sensor not working on my 200 Series Landcruiser. Cost was $392 covered by the policy. All good.

In regard to the Ford Ranger, my son bought a 2012 Ford Ranger with 84,000kms on the clock and 1.5 yrs original warranty. Just out of warranty the auto transmission failed. Haggled with Ford but to no avail.

Nick, I have read some of the responses [but not all] to your enquiry.
Insurance is mostly about providing peace of mind but is also vital in many cases to ensure our financial security. Extended Warranties have made lots of people [other than claimants] and companies lots of money, in a few cases some consumers have had good experience with extended warranties. ASIC have concerns about most warranty providers, see link below.

ASIC's investigation found that over the past three years roughly $1.6 billion in premiums were collected on car insurance add-ons, while only $144 million was paid out in successful claim

Read more: http://www.afr.com/business/insurance/insurance-companies/asic-warning-to-car-buyers-extended-warranties-and-tyre-insurance-a-ripoff-20160912-gre2q8#ixzz4RprI8UV8
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If you were purchasing a Factory backed [a cover offered and underwritten by say the actual vehicle manufacturer], then the coverage may be more likely to do what you need if a sudden electrical or mechanical failure occurs [one that is not excluded]. Somtimes we need to rely on the reputation of the Vehicle and ensure we have an understanding of areas of concern - things that may go wrong and are high cost.

Consider also the scope of your Vehicle Insurance - is accidental damage such as contaminated fuel or the use of wrong fuel covered, those issues can cost many thousands of dollars.

Bob

Nick, I only have personal experience with genuine Toyota (not extended) warranty and they tried very hard to avoid/refuse my claim. The issue was eventually resolved but only after a few anxious weeks of arguing and letter writing.

I couldn't recommend them.

Skull

I once baught a warranty on a used car ....... when I got home and read the contract and what it excluded and how much I had to pay and there restrictions on repairers ........ on and on.

Warranties you purchase on used cars are pretty much useless.

read the contract in it's entirety, before you sign.

You will find the very little protection you might get is very very expensive.

Grab a copy of the Australian Consumer Law (specifically the warranty section), a copy of an extended warranty and a chair. Sit yourself down outside a dairy farm milking shed and have a read of both documents (actually read the ACL first and see if you need to read the extended warranty at all). In between count how many Bulls you see walking into the shed with the Cows at milking time.
See if the analogy leaps out at you ;)

I prefer to self-insure. That way I don't have to make claims or deal with people who have no idea. Toyotas are pretty reliable.Mine's just turned 4 years old with nothing going wrong in that time.