Extended Warranty

I purchased a Penske dealership 10/100 warranty that more closely fit my needs.

I would encourage anyone to purchase the warranty offered on PC, as the price seems unbeatable, and with an investment of this size, it's nice to have the comfort of knowing that it's covered for "the life" of the car, rather than just 3 years or so.

 

Already bought from Troy.

Got the 7 yr/75,000 mile/0 deductible warranty.

I feel better as long as Toyota holds up their end. I figure if I buy it, nothing will happen, if I don't, right after a warranty is up, that's when whatever it is will break.

 

Some will tell you it's all a crap shoot and you'll probably waste your money. As for me, I feel that one major expence that's covered will pay for it right there. I plan to get it, but I'm waiting until the end of the 3/36.

 

That's the way of insurance and warranties. You're hoping that nothing will happen, if nothing happens you're out what it cost you. But if something expensive does happen, having it can save you a bunch of money.

Yes, it's always a gamble. And while it's set up so that the house usually wins, if those expensive things do happen then you can win, too.

-Roger

 

Yeah, even had some discussion on one of the Yahoo groups. I mentioned the MFD as one example. They saw it as a simple repair using a remanufactured one for $400 and installing it yourself. Net savings? Over $500. Yeah, if that's the ONLY thing that goes wrong during the time the extended warranty was in place.

I liked what Mad Magazine said about life insurance. They said it was gambling, you were betting you were gonna die. The company was giving odd you wouldn't. So if you won, you lost and if you lost, you won.

 

I was thinking I would wait until closer to end of original Toyota warranty of 3/36 but then I was worried if I waited, maybe the offer wouldn't be there from Troy anymore...?! Is there any other reason to buy it now? Is there any advantage to having it from the beginning as opposed to waiting until the new car warranty is up?

 

AFAIK, the warranty would start the day you bought it. Assuming you got the 7 years, it would run concurrently with Toyota's. In theory that would mean you'd only have 4 years to take advantage of it. Perhaps it covers more and you'd be covered with a problem that the original didn't. Like using both Ad Aware and Spybot at the same time.

 

Well I bought it [100K/10] 'cause I knew I was going to put some mileage on the car and, well I was right. Tomorrow I write out the check for payment #12 and I will probably clip 24K miles on the way to the post office.

Good thing I had 5 months to wait on the car and educate myself about the cost of said warranty and didn't pay the $1,800 the dealer offered it to me for.

 

Where is the, "No freakin' way!" answer to that question?