Edmunds Answers



  • MrShift@Edmunds 09/05/09 4:25 pm PST

    I'd certainly read the terms and conditions of the extended warranty and see how it differs from the normal factory warranty of 3/36. Usually they are not quite the same, so you should know the exclusions. That will help you decide. These are not troublesome cars, so you might also consider just socking away that $1700 into a "repair savings account" and using it if you need it. If not, you have a little spending money after the car hits 100K.

  • morin2 09/05/09 5:37 pm PST

    There are no absolute guarantees in life, including the reliability of a Toyota with 36001 to 100,000 miles on it. However, is the purchase so risky that its necessary to spend 1700 for the peace of mind? It would not be to me, but everyone is different in their level of risk-aversion. Extended warranties are high profit items for the people pushing them. That's enough to know that they are a poor value, on average, especially for a car/model known for its reliability. How many people do you know who have spent over 1700 on repairs of the type covered by this warranty on a Camry?

    Why decide now? See how reliable the car is and decide right before the basic 36K warranty expires. There's a lot that can happen between now & then - like a wreck, theft, change of vehicle plans, etc. You have 3 years or 36K miles to make this decision and to comparison shop for price if you decide you want it.

  • mcdawgg 09/05/09 6:55 pm PST

    You've got 3/36 on everything, 5/60 on the powertrain. I'd put the $1,700 in a savings/CD/ etc. and I'd bet you'll have most, if not all of it, remaining at the end of the extended warranty. That's what I've always done with my Toyotas, and I have ALWAYS had almost or all of the money left.

  • 04350 09/05/09 9:35 pm PST

    Depends on how long you plan on keeping the Camry. 5 years or less, definitely not worth it.
    But it might be worth it if you drive at least 18,000 to 20,000 miles a year.

  • texases 09/05/09 9:41 pm PST

    On average you will get about $0.50 for every $1.00 you spend, the profit margin on these is around 50%. Worth it? Not on average, not even close. For peace of mind, think about how much more secure you'll be with $1700 in the bank, available for car repairs and other emergencies.


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