Aftermarket Warranty - Yes or No?

[SpiritOfAloha]

I wish I came to this site first. I am having buyer's remorse and did not even ask how much the cancellation fee would be to get out of this xtended warranty I just purchased from Protection Direct.

My '06 4R has 96K and I think is starting to have wear & tear issues that are going to cost me some $$$bucks. Dealership gave me a list of services but I declined all of them until I could get quotes from outside mechanic shops: Replace sparkplugs, Drive Belt, flush all the fluids, including transmission, cooling system... Then the COSTCO tire guys tell me I need new struts & alignment (my Michelins were supposed to last me at least 60K but are going bad due to "cupping")

Sucks being female owner of any vehicle when it comes to service matters.

 

[SpiritOfAloha]

i have one for my 911. $3,500 and mor ethan paid for itself. a front diff replacement cost $6k.

toyota 4r? No way. japanese engineering rocks.

I told the dealership finance manager exactly that - "Warranty, I don't need no stinkin' warranty. This is why I'm buying a Toyota, right?" Since I was paying cash for the truck, he wanted to sell me stuff.

Love your comment about the 911 vs Toyota!

Now that I'm out of warranty & experiencing the usual replacement needs, I panicked and let myself get sold one of these aftermarket packages. Hoping to get out without too much hassle. Good thing I paid with AMEX, they are awesome at filing disputes.

 

[MikeInNH]

ALL extended warranties are nothing but a very very very expensive insurance policy. With very high profits for the insurance underwriters. Several studies have been done...and the BEST result I ever saw was that less then 5% ever recoup the money they spent for the warranty coverage.

Are there people who recouped more then what they put in?? Sure there are....But for every ONE person who recouped what they paid in there are 30 that lost it.

I've never bought one...and NEVER will.