Extended Warranty - are they worth it?

Ha , we bought a new corolla this year and got them to throw in that extra warranty for nothing .

When we got our cruiser s/h, it was still under factory warranty and they wanted us to take out extended warranty.I didnt and when something went wrong while still covered by the std factory warranty, they didnt even cover that.Not worth it.As you stated, it excludes so much anyway.

Turist
Another way of making extra money out of you and the companies get commission on every policy. Save your money. The Toyota warranty as standard is all you want.

Cheers

Stephen

The after market extended are not worth the paper they are printed on.

Factory backed new vehicle extended warranties are nearly identical to the original warranty....we worth it but then again it's a Toyota and nothing ever breaks.

We bought an extended factory warranty for my wife's BMW Z4.. an extra year for around a grand I think from memory.

About 6 months into the warranty it had a problem with the electronic side of its brakes. This made the computer bring the max speed down to 40 k.. a PIA.

One phone call to BMW and a tilt tray was sent, the car repaired at no charge and then returned to her a day later.

A lot of switches and a Jesus box had to be replaced.

We came out in front.

My 2 bobs worth

Mark T

For $1400 I think it would be hard to imagine what would go wrong in a Corolla in that period of time if it is serviced by a "qualified" Toyota dealer.

Maybe if you put the money in a high interest account for 6 years and you would probably be a few hundred $$ in front.

Just my 'opinion' I would NOT take an extended warranty, have bought a complete home full of appliances in 2008 all with standard warranties, had a fridge replaced 3 times then the retailer finally swapped it to another brand because he was sick of the hassles with S*****G and also an expensive coffee machine replaced with-in the first week.

I think if the Corolla goes 12 months running perfectly it should continue for a realistic period time, I say this because my Toyota is 23 yo and is still reliable, it's not been looked after at all as it's not seen a "qualified" mechanic since 1987.

Mainey . . .

A new vehicle comes with full factory warranty. Ask the salesperson why they think you should require an extended warranty? Is it because they lack confidence in the quality of the vehicle to the extent that something 'major' will occur once the factory warranty expires? Ascertain, to your satisfaction, exactly what the 'extended warranty' consists off particularly exclusions. Ask exactly how they arrive at the figure they have quoted for the warranty.

In my opinion, don't waste your money. Toyotas have a reputation for longevity and reliability.

If you really want to 'bargain' with them, tell them that you will not be paying any dealer delivery fees. You don't have to (it is not a statuatory requirement) just another dealer 'customer rip-off'.

We brought a Fortron extended warranty on a second hand car. At our first service with the dealer they provided us with a list of faults and a cost to fix. I asked,"won't these be cover by the extended warranty", they came back and said yes and the price increased by $200. I didn't go ahead with the faults and the supposed faults have never presented a problem.

So save your money.

Here's another slant.

There are other manufacturers out there who offer a five year new car warranty.

Cheers,

Jim.

Bought a FORD extended warranty for 3 years and 3 or 4 grand on the F 250.

Was up in the Pilbara, when an electrical short developed, that n one could diagnose, out of all the auto sparkys and diesel fitters etc up there - and no Ford Dealer at the time.

Vehicle was being repaired at one or another workshop for 5 months before it was fixed.

Had NOTHING but trouble with the Ford extended warranty which should have covered it and ended up a few grand out of pocket as well - in the end it was only intervention by the police that got me my truck back.

Lets see Ford sod their extended warranty cover to some insurer - even tho that detail was NOT in the FORD extended warranty cover paperwork.

They complained because the work wasn't being done by them but there was no dealer in the pilbara at the time nearest ones were Broome or Carnarvon, and Ford wouldn't pay the few grand trucking fee to get it too a dealer.

I ended up paying about $400 to truck the vehicle on a tilt tray myself to Karatha for repair, and had to buy the software etc from America to diagnose the fault so any of the diesel fitters could work on it and have even half a clue what was wrong (another 600 odd).

Once it was 'fixed' - I had to pay another $1500, to the repairer as "my share" of the bill that Ford and their waranty insurer wouldn't accept liability for.

Ford state custmer service manager claimed that they had changed their insurer for extended warantys that year and the previous firm were miffed as a result they were NOT approving ANY claims on Fords that they had been paid to assume the liability for in previous years, to get back at Ford by upsetting every customer.

In the end the repairer wouldn't release my vehicle to me despite the total $2.5K I had already paid out - because neither Ford nor their insurer would PAy for the $3K balance of repair cost.

I ended up going to the police Station and explaining my predicament, and laid charges of theft against the Ford State Service Manager and their Insurers CEO, personally.

Got my vehicle back within 1 hours after weeks of arguments and every man and his dog trying to duck and dive from their responsibilities.

The fact I had paid so much of the claim that the Police thought I had been MORE than reasonable, was what tipped the balance in my favor and decided them to act on my behalf - normally it would be a civil matter - but when presented with the fats they decided a case of auto theft could be made and tok the repairers busoness owner into custody and had an arrest warrant made out for the Ford and insurer who were making life tough - and sent a copy to the two individuals involved in Perth & Melbourne.

I had the vehicle delivered back to me within the hour...

Please don't waste your money on these extended warranties - in my experience they are not worth the paper they are printed on, they will use ANY excuse to deny all liability etc etc and hope you give up and go away.

The liabilities are onsold to insurers and underwriters - whose relationships with the Car companys change and basically they are all just theives.

As others have said, save your money, put it in an interest bearing account.

Theives of this white collar variety do NOT deserve your hard earned $

Cheers

Kia do an extended factory warranty doubling from the 3yrs to 6yrs at no extra cost on the proviso that the vehicle is seviced by a Kia dealer on their fixed price service scheme , cost for the beloveds Kia Rio =$160 every 15,000klm.

Don't forget there are 2 types of extended warranty. One you pay for & the other usually thrown in by the Dealer for nix provided they do the servicing for the full period. I understand that the 1st one is more comprehensive than the latter.
Willy

with the cost of servicing the car to maintain the conditions of the warranty its not worth it , you are paying for the repairs should there be any in the service cost , keep ya money .
mechpete .

Corollas are great vehicles - my son's wagon is 6 years old, done 200,000k, not one problem and costs next to nothing to run. Keep your $1400.