Extended Warranties- Worth IT?

[inscarguy]

i bought a used grand cherokee back in '05(traded it 3 years later) from a lincoln mercury dealer in methuen, ma(now out of business). i had given them a 200.00 deposit and specifically told them not to cash it and i will be back in 48 hours with the full amount. 48 hours later i was back to pick up my vehicle and asked for the check... they deposited it! during the negotation process they tried to sell me an ext warranty for 1200.00. i declined.

when i found out they deposited it i was pissed so i wanted to cancel the deal and wanted my 200.00 back. the accounting manager pulled me back in his office and tried to save the deal(his fault). to try to make it right he sold me the same ext warranty for the 200.00.

needless to say i took it and 2 months down the road i took full advantage of it and the vehicle went in for rear end work at the sum of 1500.00. looks like i got my money worth.

 

[4runner423]

Thanks for the feedback! I'm still waiting on a car to be shipped from Carmax so let the debate continue. Still haven't made up Amy mind. The warranty I'm considering Is from Carmax. It will cot $1179 with a $250 deductible and will cover the car up to 150k. I am currently ordering a 2006 V6 Limited with 100k

 

[Atlanta_man]

The time and mileage beyond factory warranty along with the cost (incl. deductible) drives the decision of course. And a dealer warranty from an out of business dealer is an extra risk.

I would not be interested in any warranty that did not go to at least 100K miles on a Toyota. In my case, the $0 deductible was an important value adder on the 4 (each) $300 door lock actuator failures.

 

[gshadow325]

Absolutely not true.

E55 AMG's and any of the 55 AMG's were once allowed to have Chrysler Warranty's. Eventually they found out how much they were losing there a$$'s and will no longer sell the warranties to AMG cars.

I had over $17,000 in warranty work covered at my Mercedes dealer via the Chrysler Warranty.

I opinion on high end cars. Majority of the People that buy these cars of the show room floor have the money to buy them. They don't care for keeping them for life. They don't care about maintaining them. They only come in for warranty work. They curb wheels , hit stuff, they don't care they have the money to keep up with the car. It's the second owner and on that has to deal with what ever issues they left behind.

I think this way about all used cars. High end just Cost more in repairs.

Use me for example since purchase @164k to today 177k, I have changed out the following
Both manifolds
All 4 o2 sensors
Tb/water pump
Shocks
Springs
Brakes
Rotors
Pads
Lubed drive shaft
Plugs

Routine maintaining stuff. Nothing broke that required warranty that wasn't classified as wear and tear.

 

[Gecko123]

Extended are not worth it.

Insurance companies have this all calculated. they know nothing major will happen during the warranty period. And if it does, its a very low percentage. it has to be a low percentage or else they wont be making money.

 

[Lakshmi]

Thanks for the feedback! I'm still waiting on a car to be shipped from Carmax so let the debate continue. Still haven't made up Amy mind. The warranty I'm considering Is from Carmax. It will cot $1179 with a $250 deductible and will cover the car up to 150k. I am currently ordering a 2006 V6 Limited with 100k

So it is 150k or so many months?

My 4R previous owners purchased the extended warranty. It made the negations a little steeper but I transferred it for only 50 bucks. But like someone said above I am sure that I'll be starting to do the routine maintenance on the vehicle. And if I do need something big, it is there for a little while.

I still bought the vehicle at a fair market price, so there wasn't the choice of an added 1500 bucks involved.

Also I considered buying an extended warranty because like someone above said it changed the payments by only 10 or 15 dollars.

Good luck in your decision. I'd agree that more people buy them than those they help.

 

[4runner423]

Everything except the following is covered by the warranty. Anyone see any common 4 runner issues that would be covered as part of this warranty?

[/I]What MaxCare doesn't cover

The following are not covered under your MaxCare Service Contract:

The maintenance services and parts described under maintenance requirements as shown in the manufacturer's maintenance schedule for your vehicle. If you do not receive an owner's manual at the time of purchase, it is your responsibility to obtain a manual and follow its guidelines. See your selling location to learn how to obtain an owner's manual for your vehicle.
Other normal maintenance services and parts including engine tune-up (includes spark plugs, glow plugs, ignition wires, distributor cap, and rotor), batteries, filters, lubricants or fluids, air conditioning refrigerant, engine coolant, all coolant hoses and accessory drive belt(s), wiper blades, brake pads and shoes, brakes, rotors and drums, suspension alignment, tires, wheel covers, wheel rims, wheels, wheel balancing, shock absorbers, exhaust system, catalytic converter, manual transmission clutch disc and pressure plate, and clutch throw-out bearing.
Glass, glass framework, fastening adhesives, sealed beam headlamps, light bulbs, lenses, trim, moldings, bright metal, upholstery, vinyl and convertible tops, paint, sheet metal, bumpers, alignment of body parts, flexible body parts, door panels, body panels, structural framework, structural welds, and removable hardtop assemblies.
Repairs made solely to meet or maintain any governmental emission standards.
Any aftermarket accessories or equipment purchased and installed after the vehicle purchase date. These include but are not limited to: anti-theft systems, radar detectors, CB radios, audio/visual equipment, cruise control, sun roof, solar-powered devices, telephones, lift kits, TV/VCR/DVD, and related components and appliances.

 

[Rigliner]

Yes, yes, yes. Get extended warranty. I bought my 08 with 21K on it and within my ownership I have had seat frame, gas door cable, drive shaft, and full transmission replacement just to name a few under warranty. While Toyota is a great vehicle some of the simple replacements well surpass the cost of the initial warranty package you might pay for. If you use your vehicle offroad while still caring for it simple problems will pop up. Just my 2 cents.

 

[DarenS]

Everything except the following is covered by the warranty. Anyone see any common 4 runner issues that would be covered as part of this warranty?

[/I]What MaxCare doesn't cover

The following are not covered under your MaxCare Service Contract:

The maintenance services and parts described under maintenance requirements as shown in the manufacturer's maintenance schedule for your vehicle. If you do not receive an owner's manual at the time of purchase, it is your responsibility to obtain a manual and follow its guidelines. See your selling location to learn how to obtain an owner's manual for your vehicle.
Other normal maintenance services and parts including engine tune-up (includes spark plugs, glow plugs, ignition wires, distributor cap, and rotor), batteries, filters, lubricants or fluids, air conditioning refrigerant, engine coolant, all coolant hoses and accessory drive belt(s), wiper blades, brake pads and shoes, brakes, rotors and drums, suspension alignment, tires, wheel covers, wheel rims, wheels, wheel balancing, shock absorbers, exhaust system, catalytic converter, manual transmission clutch disc and pressure plate, and clutch throw-out bearing.
Glass, glass framework, fastening adhesives, sealed beam headlamps, light bulbs, lenses, trim, moldings, bright metal, upholstery, vinyl and convertible tops, paint, sheet metal, bumpers, alignment of body parts, flexible body parts, door panels, body panels, structural framework, structural welds, and removable hardtop assemblies.
Repairs made solely to meet or maintain any governmental emission standards.
Any aftermarket accessories or equipment purchased and installed after the vehicle purchase date. These include but are not limited to: anti-theft systems, radar detectors, CB radios, audio/visual equipment, cruise control, sun roof, solar-powered devices, telephones, lift kits, TV/VCR/DVD, and related components and appliances.

It sounds like most of the stuff you're likely to have to replace isn't covered. For $1700 you can replace a lot of normal wear and tear items between 100K and 150K.

Since you're getting it from Carmax, I would make a list of items that you don't like and make an appointment to take it back 2 weeks after purchase to have those things fixed and save your money for the stuff Carmax won't cover anyway. If you shop carefully, there shouldn't be too much that will go wrong in those 50K miles.

Daren

 

[NuclearN8]

One thing I did not realize when buying a Certified Pre-Owned (CPO) 4runner a few years ago is that they're are different tiers of the Toyota Vehicle Service Agreement.... (I thought everything was covered and no one tried to upsell me in the finance department when signing the paperwork....)

Certified Used Vehicle Service Agreements

Anything other than the limited vehicle warranty, which comes with every CPO Toyota will cost you extra.

It's important to know what all the warranties cover so one can determine which is best for them, should one choose to go the toyota route.

 

[bac131]

Sometimes they pay for themselves

I purchased an 05 4runner V6 last April and shopped around for extended warranties. I found a company called Autopom. I purchased the Gold Package which is 4 year, 48000 miles for $1800. About 30 days later, both of the front calipers had a piston that seized. They sent out an adjuster and ended up replacing both calipers, pads and rotors. They would only allow Toyota to use oem parts! Total cost was $800. I recently took it in for the low speed shudder. Toyota tech support recommended replacing the transmission. No push-back from Autopom. Waiting for the dealer to call me in to drop off the vehicle. Probably another $3000. Needless to say, I'm glad I purchased the extended warranty.

 

[iBison]

I don't usually get them and wouldn't buy one unless it was a Toyota warranty. The guy I bought mine from had the platinum warranty with about 3k left on it when I got it. Transferred it for $50 and just before it was up I got the lumbar motor and wiper stalk replaced for zero dollars instead of hundreds.

For what it's worth, in 04 I bought an 03 grand prix with the known intake issue so I wanted the warranty that time. The dealer wanted around $2400. I have a cousin that has good friends at a chevy dealership, he got it through them for cost plus $50, about $1200.