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Toyota Corolla Extended Warranty Advice

aj2aj2 Member Posts: 12
in Toyota
Hi,
I have a 2005 corolla and am shopping around to buy the extended warranty-I bought the car new-but didn't get the warranty originally. Would now like to get it before I reach the 36,000 miles. I'm doing some web searches to get some quotes-can anyone suggest a Toyota dealership that offers a good quote on the Platinum plan? I have found the Lexus of Greenwich with a quote of 835.00 for the 6yr/100,000 miles-so far anyhow. I'm going to call around and see how quotes outside my area/state-compare to my local Toyota dealership!
Thanks!
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Comments

  • corviccorvic Member Posts: 1
    Hello,

    I just got a toyota corolla 2006 that is still under warranty. I'm thinking to get extended warranty but the dealership I went to sell the extended warranty for around $1500 that I think too expensive.

    Can I buy extended warranty somewhere else?
    If yes, could please someone suggest where I could get a good deal?

    Thanks in advance for all the help.
  • dkarschdkarsch Member Posts: 72
    It's just my personal preference but one of the reason I bought a Corolla was because I felt it was reliable enough so that I didn't need an extended warranty.(because as you are finding out - the warranties are expensive)

    My wife had to have a Ford escape last year and I did invest in an extended warranty on it as I will probably be needing it.
  • aj2aj2 Member Posts: 12
    hi, yes I decided not to get the warranty afterall-as many people told me i'd be better off to bank the money if I ever "did" need a repair down the road...which is unlikely. If you DO decide to get the warranty. YES, 1500 is WAY too much...I would recommend calling or emailing Crown Toyota
    3330 Iowa St
    Lawrence, KS 66046
    They gave me the lowest quote of all the places I contacted, the quote was around 700 dollars for the platinum 7yr/100,000 miles. Would recommend them!!!!
    Hope this helps...
  • quietspiritquietspirit Member Posts: 27
    I've seen people working under the hoods of their Hondas or Toyotas on the streets. So I definitely recommend getting an extended warranty if you can. Moral of the story: All old cars breakdown eventually.
  • patpat Member Posts: 10,421
    They might be just doing their own maintenance. ;)
  • aj2aj2 Member Posts: 12
    yes my car is only a 2005 ;-) not even out of it's original warranty yet. I figuring banking the money you'd spend on an extended warranty and putting it into one of the high interest online savings accounts at 5.0 percent for a rainy day or repairs down the road-is a better deal then spending upwards of 700-1,500 on a warranty you probably won't use
    ;-)
  • quietspiritquietspirit Member Posts: 27
    No. They were old cars. I saw an owner looking under the hood of an old Honda in front of a Safeway grocery store; and an owner looking under the hood of a Toyota in front of my job site on a rainy day, so I know that the owners were having car trouble.
  • quietspiritquietspirit Member Posts: 27
    I guess there's always a better way of doing things. Isn't it. :shades:
  • dkarschdkarsch Member Posts: 72
    Your right - OLD cars do breakdown eventually. I normally keep my cars 6-8 years and in that time I've been lucky to never have had any major problems.

    Most extended warranties dealers have tried to sell me extend the coverage out to 5 years (from the 3 year bumper to bumper). I'm no expert in the warranty field but can you get one that covers years 6-10 of a cars life and isn't that going to be extremely expensive??

    You always have the chance you will get a lemon from the factory but if you did, you would certainly know within the coverage of the 3 year B to B.
  • aj2aj2 Member Posts: 12
    I don't believe there are warranties that go beyond 7 years-at least for toyota's and yeah, you are right ;-) if a car gets old it's going to break down... but usually that's after the extended warranty would be done anyhow! Especially on Toyotas.
  • ians05ians05 Member Posts: 2
    I need an advice on buying a toyota extended warranty offered by the manufacturer. The dealer offered my quite high mark up on the extended warranty on my new corolla CE. Any body has experience buying Toyota extended warranty online? I saw one website that offer that (http://www.warrantiestoyota.com/). Can somebody buy a warranty from other state?
  • lbrngrclbrngrc Member Posts: 1
    I have an '04 Corolla with 60,031 miles on it. The transmission is out and the warranty only covered it up to 60K miles (I'm over 31 miles). Has anyone had a similar experience? I want to know if Toyota might still cover the repairs being that is only 31 miles over.
  • mcdawggmcdawgg Member Posts: 1,722
    I would call Toyota first (in California). They have the ultimate say in whether it will be covered, and I would bet that they will cover it. Just nicely explain the situation, and how much you like the car, etc. etc. They would then contact the dealer to arrange to have it covered.
  • psalm10720psalm10720 Member Posts: 2
    I am buying my first Toyota and My second New Car in my life. I bought a 1985 Mercury Topaz in 1985 and kept it till 2002.

    I am buying today a 2008 Toyota Corolla CE with 26 miles on the odometer.

    I am planning to keep the car for a long time. I am financing through Toyota.

    Should I get the extended warranty?
  • chuckhoychuckhoy Member Posts: 420
    A couple of questions first:

    1) How many miles do you drive anually?
    2) How long do you plan on keeping it? A little while after it is paid off (6-7 years)? Till the wheels fall off?

    It is difficult to make a recommendation without getting some background.
  • mcdawggmcdawgg Member Posts: 1,722
    Don't do it. Put the money you save in a CD. You will come out better in the end.
  • psalm10720psalm10720 Member Posts: 2
    probably about 20000/year. I plan on keeping this one a long time. I guess even with the extended warranty the limit is around 100,000 miles. So if I kept it till the wheels came off it would only be covered till 100,000.
  • chuckhoychuckhoy Member Posts: 420
    20,000 miles a year! :surprise:

    That means that the bumper-to-bumper would only last a year an a half. The 100,000 mile warranty would only last 5 years. At that rate of mileage, I would NOT get the warranty. You will burn through it too fast to get any real use out of it.

    If you were a low miles person, it would work out better.
  • bcgirl62bcgirl62 Member Posts: 2
    We're picking up our 09 LE model Corolla tomorrow. The sales people seem to be pushing the ECP warrantee, because "the Corolla has at least 13 onboard computers and if even one of them fail, you could be out thousands of dollars."
    We think we will be driving around 20,000 kms per year - mostly city. The 7 year/160,000 km warrantee would be an extra $1600 (+taxes). I'm not sure how long we will keep this car - probably around 3 years at least. I got the impression from the sales rep that while Toyota's engines have a proven track record, all the advanced computerization is new and needs extra coverage.
    Would greatly value advice as we have already paid a lot of money for this little car.
    Thanks.
  • busirisbusiris Member Posts: 3,490
    Typical scare tactic...If you haven't paid for the vehicle yet, try this when they put the "hard sell" on you to buy the warranty..."Gee, if the car isn't going to be that reliable, maybe we should buy another brand". Watch how fast the reliability of those computers improves in that moment.

    In any case, you aren't buying a warranty...you are buying an insurance policy...one that they make a good profit on, I might add.

    So, the question is...do you feel lucky? What's your past history with cars? Many or no problems?

    In the end, only you can answer if its for you. The law of averages tells you that the total expenses you will incur during the life of the warranty will be less that the cost of the warranty....
  • bcgirl62bcgirl62 Member Posts: 2
    Sounds like good advice.

    We did just sell our 2001 Sienna. Never had a single problem with it until a few months ago when the a/c compressor went.....then a fuel sensor. Those were expensive repairs for us but it had 175 K on it when we sold it, so I think it was a good vehicle for us and we never had put an extended warranty on it. Our misgivings with the new car are regarding all the electronics...smart key, sunroof, etc. We haven't owned a vehicle before with this many gadgets.

    I appreciate your response. What you said was basically what we've been thinking. Just wanted to get some impartial feedback.

    Thanks!
  • mcdawggmcdawgg Member Posts: 1,722
    Don't buy the extended warranty - just invest the money, watch it grow, and you'll have it just in case something happens. But more than likely, you'll still have your money AND some interest earnings. You've seen the results of your Sienna, excellent reliability. The electronics are not that new, by the way.

    The dealer is just trying to make money.
  • Mr_ShiftrightMr_Shiftright Member Posts: 64,481
    When you got to Best Buy or Circuit City all you see is Japanese electronics, not German. There's a reason for that.

    I don't think an extended warranty is necessary either for this type of car. There's just no history of excessive electronics failures on Toyota (unlike SOME cars that will remain anonymous).
  • backybacky Member Posts: 18,949
    Actually, what you see at Best Buy and Circuit City these days is mostly Chinese electronics (PRC or Taiwan). ;)

    The main reason you don't see many German, or U.S. electronics in discount stores is they are too pricey.
  • Mr_ShiftrightMr_Shiftright Member Posts: 64,481
    Do you think chinese electronics are in Japanese cars? I have no idea. Well hopefully the Chinese are building the electronics to Japanese specs and design.

    I'm not sure the lack of German electronics is price related. People will buy quality but they won't buy something if it costs more but doesn't do anything better (or is maybe worse).

    For some reason Japanese black boxes in their cars seem tougher than anybody else's. Go figure.
  • terceltomterceltom Member Posts: 1,024
    Picked up my XLE today and was offered the seven year Platinum warranty. The price started at $1016.00 but by the time we were ready to leave they were down to $675.00 This is for the bumper to bumper warranty and I must say covers just about everything except general wear parts like wipers and brakes. I have owned other Toyota and have received excellant reliability from them. I never purchased any extra warranty but at this price of $675.00 I'm thinking about it considering the new electrinic steering and many other new electronics. They gave me the weekend to decide. Any ideas or suggestions?
  • Mr_ShiftrightMr_Shiftright Member Posts: 64,481
    I guess I would suggest that you read the "bumper to bumper" warranty over very carefully.

    Keep in mind that these extended "warranties" often express what they WILL cover, but don't list all the things they DON'T cover. It's up to you to figure out what they left off the list.

    So by all means give it a good long read.
  • aj2aj2 Member Posts: 12
    How long do you intend to keep this car? I did not buy the warranty with my car in 2005. I was offered the best warranty for something like 700.00 at that time. I decided I'd keep that amount in a bank account for needed reparis in the future, instead of the warranty.....and yah, keep in mind what it might actually cover for real in the future. I was also told by many that toyotas are often very reliable, and a lot of people don't purchase the warranty. Maybe if i'd bought mine used, i might have seriously considered it.
  • aj2aj2 Member Posts: 12
    one other thing...there is no need to purchase the warranty when you buy the car, you can wait until your 3 year warranty runs out-you'd get it before it runs out...just so you know. You can also be contacting Toyota dealerships across the country to get the best price on the warranty, you don't have to buy it at the same place you bought the car....I contacted places coast to coast to get prices for a warranty quote.
  • jpfjpf Member Posts: 496
    The loophole to watch for in all car warranties is that breakdowns caused by a normal wear and tear malfunction is NOT covered by the warranty. For example, a radiator hose breaks and results in a loss of coolant. The vehicle overheats and you blow your engine. The radiator hose is considered normal wear and tear and the repair to the engine is likely not covered by the warranty. That's why I make sure I change the belts and hoses every 4 or 5 years or 50,000 miles whether or not I have an extended warranty.
  • rchvadrvrrchvadrvr Member Posts: 5
    dealer tried to pull some crap on me I think. when it came time to talk about the extended warranty he said there was some special going on where it was half price. he quoted me at $841 for 72 month/75k or $945 to get me to 84 month/75k. said that deal would expire at the end of the month. then when i was about to pull out he said "the deal could end any time"
    that should have set of my BS alarm right there, but it didn't.

    I never buy something the day I learn about it, so I said I would consider it. I love forums like this, so now I know these are pretty standard rates and there is no deal, the guy was straight up full of it.

    there are so many aspects to buying a new car, it can be overwhelming, with these forums help I think i got through it with a pretty good deal. thanks to everyone that shares information, it really helps.
  • rajacorollarajacorolla Member Posts: 3
    I have tayota Corolla ce 07. I put in almost 750km/week. Is it worth buying an extended warranty for 1400CAD+tax. I am already at 59000km and I was told to decide before hitting 60,000 clicks. So far I had no any issues with the car since I bought!
  • rajacorollarajacorolla Member Posts: 3
    I have tayota Corolla ce 07. I put in almost 750km/week. Is it worth buying an extended warranty for 1400CAD+tax. (5years/150000)I am already at 59000km and I was told to decide before hitting 60,000 clicks. So far I had no any issues with the car since I bought!
  • tgj1099tgj1099 Member Posts: 2
    Thats a great price. Can you tell me where you got it from. What dealer and a phone number. I('m looking to buy two of them.
  • terceltomterceltom Member Posts: 1,024
    I live in the North East, Allentown, PA to be exact. If this travel is feasible for you I can hook you up with the dealer. They were excellent to deal with and is was probably the best car buying experience I have ever had. Post to let me know and I can give you the details.
  • tgj1099tgj1099 Member Posts: 2
    I just called a dealer in Faulkner PA. They quoted me $800.00 each + 6% tax $848.00. I bought two corollas.
    It is for the Platinum warranty 7 yrs. 100,000 miles 0 Deductible. How does that sound? Which warranty did you get that price on?
  • terceltomterceltom Member Posts: 1,024
    Call Thompson Toyota in Doylestown, PA. Offer them $675.00 for the Platinum Warranty, that's what they quoted me on.
  • loulou17loulou17 Member Posts: 4
    Actually I have an esc that has a wear and tear provision. It states that if a non covered part breaks and causes damage to a normally covered part they will all be covered. So that picks up an extra couple thousand parts and covers all the problems you are talking about.... and as for waiting... BAD IDEA! A warranty is the same as life insurance. The older it gets the more miles the longer you wait the more expensive the policy. once over 25K miles the cost goes up by $750. You can always cancel the policy if you trade or get out of it early!
  • terceltomterceltom Member Posts: 1,024
    Sounds good but off hand I can't think of any case where this "wear and tear" provision would apply, do you have any examples?
  • William710William710 Member Posts: 1
    Can one purchase a factory extended warranty from any dealer or do you have to purchase from the dealer where you purchased the car. My dealer's quote in Tulsa was 1300+.
  • mcdawggmcdawgg Member Posts: 1,722
    I tell everyone the same thing - don't buy an extended warranty. Invest the money you would have used to buy the warranty, and if something breaks, you'll have the money. But, more than likely, you will make the interest on the money and not have to spend any of it for unscheduled repairs during the same time period that you would have purchased the extended warranty.

    I keep my Toyotas for at least 100,000 miles, and never buy extended warranties. I have never regretted it. $1,300 is a lot of money!!!

    You can buy an extended warranty from any dealer.
  • terceltomterceltom Member Posts: 1,024
    Your quote was very high. Please see my post # 31 in this very topic. I would just give them an offer of half that price and walk out and see what happens.
  • canuckrolla123canuckrolla123 Member Posts: 12
    So, extended warranties are negotiable. I do recall that being the case with my 2002 Corolla.

    On a new 2010 Corolla, manager didn't seem too negotiable on the price of extended warranty. I live in Canada. The manager actually said if I were to buy the extended warranty later, there would be an extra $300 cost of some sort. Anyone can shed some light on this?
  • astroguy1astroguy1 Member Posts: 3
    I have an '07 Corolla CE with 88,000 km on it now. At 45,000km the water pump blew and at 50,000 the car started to run irratically at idle and they changed the intake manifold gasket (now made of plastic btw) but only after they changed the thottle body, the CPU etc. It's fixed now but I figure that especially with the CPU replacement that I would have paid thousands for this stuff. I purchased the 200,000 EPC warranty from Toyota for about $1,900 canadian.
    I never expected such problems with a Toyota.
  • terceltomterceltom Member Posts: 1,024
    So basically you just got your up front $1900.00 back that you paid for the warranty? Really, with buying an extended warranty for a Toyota your chances are much greater that it WOULD be a waste of money then they would be for really having a major car problem or repair during the warranty period. So even if you WOULDN'T have purchased this warranty you would have just put out the $1900.00 later rather than sooner. That being said, your situation of a major repair (or any repair really) was highly unusual for a Toyota and a $1900.00 bank deposit would have been the gamblers choice with the better odds of a win.
  • maforermaforer Member Posts: 2
    I have a 2010 Corolla. When I bought it I also paid $3000 for extended warranty. It is really useful to keep it? I consider It is a very high cost since Corolla's reliability is considered very good. Should I cancel such a warranty instead?
  • mcdawggmcdawgg Member Posts: 1,722
    No way - cancel it. Don't spend it all, but save it, just in case something does happen. Most likely, you will still have most of it after the extended warranty would have expired anyway. If you really insist on an extended warranty, I have read that people have bought them cheaper by shopping around vs. the dealer you bought the car from.
  • maforermaforer Member Posts: 2
  • terceltomterceltom Member Posts: 1,024
    OMG no ! Dump it, what a waste of money for a Toyota.
  • yankeesfan3yankeesfan3 Member Posts: 2
    Just got a new Corolla and am immediately regretting the extended warranty. It was 1450 for 8 years / 100,000 miles. I decided to go for it since I live in northern New England and the cold and salt has beat up my car and repair costs around here are outrageous. Should I try to go back to the dealership and cancel the warranty?
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