Are Extended Warranties Worth It? (insurance, CV, auto, gaskets)

[sarah.jennifer]

I am about to settle the paper work & pick up my 2008 Toyota Rav4 (4cyl Ltd) in a couple of days. My question is this: Are extended warranties and car protection packages (rust proofing, paint protection etc.) etc. worth getting? From what I have read, most books say no, - but I wanted to ask all of you directly.

[turnerfamily]

IMO-No especially when buying a Toyota.

[Hungry For Cheese]

NO it is ALWAYS a rip-off
get GAP through your insurance company.
I pay like $15 a year for GAP...lol. its ridiculously cheap

[yo vanilla]

i used to sell this stuff when i was in the car business. as a finance manager i sold ext warranties, gap, etc. i could justify the ext. warranty to you, but the reality short answer is no, save your money. toyotas still have a 5/60 warranty dont they? ask yourself, do you think you'll even have the car at that time? if you do, you'll probably only be spending money on wear items like cv boots etc which aren't covered under warranty. toyotas break just like any other car, but its doubtfull that something major (and expensive) would break.

for the rest of the stuff DECLINE! especially with the undercoating - your car is already undercoated. the paint protection - i suppose if you bought your car and never washed it even one time you might make use out of the paint protection. likewise with the, er, rustproofing, LOL. but you wouldn't actually do that to your brand new car, would you?

i am proud to say that when i was selling cars i did not sell undercoating, rust proofing, or paint protection even one time. i would never put that gunk on my car.

[DaSkorpion]

Extended what...oh my I got screwed over by onesourceauto warranty bigtime - this company went out of business and I had to get rid of my car after it sat at the dealership for almost one year.

You can google them and see what I am talking about - after that scenario I now think twice about certain extended warranties and ask a lot of questions.

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Originally Posted by sarah.jennifer

I am about to settle the paper work & pick up my 2008 Toyota Rav4 (4cyl Ltd) in a couple of days. My question is this: Are extended warranties and car protection packages (rust proofing, paint protection etc.) etc. worth getting? From what I have read, most books say no, - but I wanted to ask all of you directly.

[aaron_clark]

Yeah! This warranty will pay for your vehicle's covered repairs after the manufacturer's warranty has expired. If you want more about extended warranty then I would like to prefer a site called Extended Warranty Shopper: Car, Truck & Auto Warranties you can get all about extended warranty. Hope this will help you.
All the best!

[jhlcomp]

Check with your auto insurance as mine has an extended warranty. Having said this, my husband got an extended warranty on his BMW (we no longer have this car) just before it hit 45,000 miles and good thing because within a few days he had a $2600 bill and it was covered.

It all depends on how long you plan to keep the car, etc. Good luck!!

[turnerfamily]

Having helped customers with extended warranties I had found that not all companies are the same and many set their requirements for maintenance at a much more frequent time intervals than the factory requirements.Also their is a specific list of covered components and unless the original cause for repair is on that list - forget it! ( for example if your car overheats and causes the engine to fail or cyl.heads to fail-if the cause is a stuck thermostat and not a covered part - then no coverage)These agents are not in the business to say yes to every call about coverage-even from a repair shop.They will require all services to be done on time and all records to be availiable.(late on one oil change,no cooling system flush,fluids not changed - no coverage )They will also send an adjuster to the repair shop to physically inspect the car at times and take photos.They will not cover the cost for diagnosis in most cases. If your transmission is noisey, you must have it disassembled to determine the exact cause of that noise.So if it is determined that the cause is normal wear and not a "failed part" then no coverage.Timing belts not covered unless they fail-break.It is a normal wear item just like brakes,clutch,belts etc.In some cases they do not cover seals and gaskets or fluids.They may charge a deductable for each covered part replaced.They sometimes have various levels of coverage depending on the age of the car.The dealer will make a large amount of profit off the sale of these extended warranties and will offset their losses in the sale(if any)buy selling you these warranties.Sometimes the repair shops won't work directly with these agencies and will require you to pay out of pocket for repairs and have you seek reimbursement from them(warranty co.) directly.You also are required at times to get authorization from the ext.warranties before they will cover any portion for that repair.If you do consider one,read the details over completely before you decide; don't let the sales people "just mention" it at the close of sale.There is nothing worse as a repair facility to have a customer with these warranties find out how much they are really worth while fixing your car.

[Tek_Freek]

Bought it once, and it saved me a ton of money.

Now for the Truth in Telling part: It was a 1981 Cadillac El Dorado - diesel, used.

Best $600 dollars I ever spent on a warranty, ever. I'm sure the dealer was laughing at me all the time he was selling me this thing, but I ended up getting over $3000.00 worth of repairs out of it.

As for your Toyota. Don't bother.