Discussion:
Platinum Certified Extended Warranty - How much?
(too old to reply)
David In NH
2006-09-28 22:30:29 UTC
Permalink
Hi folks:

I'm buying a 2007 Camry XLE which although it has only 80 miles on it, is a
Certified Pre-Owned car. (It got dinged a bit in a hail storm and the
company is selling it as CPO.) Anyway, it comes with an extended warranty
for the power train for 7 yrs/ 100000 miles and the remainder of the regular
3yr / 36000 mile factory warranty (2 yrs 9 months remain).

The deal is done and I take possession tomorrow night.

The dealership offered me the "Platinum Certified" warranty extension which
extend virtually everything on the 3/36 plan to the full 7/100 period.
Sounds good and the warranty looks very good - no deductibles and the only
things not covered are the things you'd expect to wear out - tires, belts,
wipers, brake pads, etc.

Anyway, they quoted me a price of $1250. which I must assume is negotiable.
If they'd said something like $500, I'd have jumped at it but not at this
price.

Anybody have any idea what this warranty can be negotiated to?

Thanks in advance.

- Dave
Hachiroku
2006-09-28 23:54:21 UTC
Permalink
Post by David In NH
I'm buying a 2007 Camry XLE which although it has only 80 miles on it, is a
Certified Pre-Owned car. (It got dinged a bit in a hail storm and the
company is selling it as CPO.) Anyway, it comes with an extended warranty
for the power train for 7 yrs/ 100000 miles and the remainder of the regular
3yr / 36000 mile factory warranty (2 yrs 9 months remain).
The deal is done and I take possession tomorrow night.
The dealership offered me the "Platinum Certified" warranty extension which
extend virtually everything on the 3/36 plan to the full 7/100 period.
Sounds good and the warranty looks very good - no deductibles and the only
things not covered are the things you'd expect to wear out - tires, belts,
wipers, brake pads, etc.
Anyway, they quoted me a price of $1250. which I must assume is negotiable.
If they'd said something like $500, I'd have jumped at it but not at this
price.
Anybody have any idea what this warranty can be negotiated to?
Thanks in advance.
- Dave
You can get it for $800 elsewhere. If your dealer is like mine, they won't
budge on the price.

You can buy the warranty from ANY Toyota dealer. There are a few on-line,
and one of the best has been said to be Toyota of Greenfield (MA), I think
they said ask for Dean, but, it has been bought by a Volvo/Audi dealer
since then, so I don't know if it still holds.
Kurt Krueger
2006-09-29 15:35:17 UTC
Permalink
Post by David In NH
The dealership offered me the "Platinum Certified" warranty extension which
extend virtually everything on the 3/36 plan to the full 7/100 period.
Sounds good and the warranty looks very good - no deductibles and the only
things not covered are the things you'd expect to wear out - tires, belts,
wipers, brake pads, etc.
Anyway, they quoted me a price of $1250. which I must assume is negotiable.
If they'd said something like $500, I'd have jumped at it but not at this
price.
These can be sold by places other than the dealer. If you're a member of
a Credit Union, ask them. Also in many cases you can buy these "service
contracts" (that's really what they are) up to the time your factory
warranty expires. So you should have time to shop. Markup is in the
range of 100% (so the dealer cost will be something like $600).

Also, Toyotas are pretty reliable. My '83 Camry has 250,000 miles on it
and nothing has happened that would have been covered. Still all
original running gear (engine, tranny, clutch, etc., etc.)
sharx35
2006-10-01 09:38:36 UTC
Permalink
Post by David In NH
I'm buying a 2007 Camry XLE which although it has only 80 miles on it, is
a Certified Pre-Owned car. (It got dinged a bit in a hail storm and the
company is selling it as CPO.) Anyway, it comes with an extended warranty
for the power train for 7 yrs/ 100000 miles and the remainder of the
regular 3yr / 36000 mile factory warranty (2 yrs 9 months remain).
The deal is done and I take possession tomorrow night.
The dealership offered me the "Platinum Certified" warranty extension
which extend virtually everything on the 3/36 plan to the full 7/100
period. Sounds good and the warranty looks very good - no deductibles and
the only things not covered are the things you'd expect to wear out -
tires, belts, wipers, brake pads, etc.
Anyway, they quoted me a price of $1250. which I must assume is
negotiable. If they'd said something like $500, I'd have jumped at it but
not at this price.
Anybody have any idea what this warranty can be negotiated to?
Thanks in advance.
- Dave
Extended warranties on Toyotas are for either suckers or nervous Nellies.
Which are you?
David In NH
2006-10-01 18:25:14 UTC
Permalink
Post by sharx35
Post by David In NH
I'm buying a 2007 Camry XLE which although it has only 80 miles on it, is
a Certified Pre-Owned car. (It got dinged a bit in a hail storm and the
company is selling it as CPO.) Anyway, it comes with an extended warranty
for the power train for 7 yrs/ 100000 miles and the remainder of the
regular 3yr / 36000 mile factory warranty (2 yrs 9 months remain).
The deal is done and I take possession tomorrow night.
The dealership offered me the "Platinum Certified" warranty extension
which extend virtually everything on the 3/36 plan to the full 7/100
period. Sounds good and the warranty looks very good - no deductibles and
the only things not covered are the things you'd expect to wear out -
tires, belts, wipers, brake pads, etc.
Anyway, they quoted me a price of $1250. which I must assume is
negotiable. If they'd said something like $500, I'd have jumped at it but
not at this price.
Anybody have any idea what this warranty can be negotiated to?
Thanks in advance.
- Dave
Extended warranties on Toyotas are for either suckers or nervous Nellies.
Which are you?
I'm not either one. I almost never buy an extended warranty on anything
(other than a laptop PC - found to have ALWAYS paid off on those!). Proof
that I'm not a sucker is that I didn't let the dealer coerce me into buying
their warranty but even though I'm not a nervous nellie, this car has a
whole bunch of computers and sensors which could go bad. Everything from the
radio/cd player/trip computer, etc.. I know that the price of the warranty
is always greater than the manufacturer's expectations of real value to the
consumer. (They don't sell a warranty for $1000 if they expect the average
buyer to wind up with over $1000 worth of repairs.)

Anyway, it would be worth it to me to pay a smaller amount for a warranty
later. (I've got the factory for 3 years and if the car has problems, buying
the extended one for around $800 anytime in the three years, would make
sense.)
t***@antispam.ham
2006-10-01 20:51:25 UTC
Permalink
Post by sharx35
Extended warranties on Toyotas are for either suckers or nervous Nellies.
The extended warranty offered by the Toyota dealer in Honolulu includes
a full refund if you never use it. So, the only thing you're out is
the interest on the money spent on the extended warranty that you would
have otherwise earned had it been sitting in the bank all those years
rather than being spent on something else.

I can understand some concern over the reliability of certain new
technologies, such as the hybrid system and the continuously variable
transmission. Of course, most components of the hybrid system come
with an eight year manufacturer's warranty.
dizzy
2006-10-10 00:30:11 UTC
Permalink
Post by t***@antispam.ham
The extended warranty offered by the Toyota dealer in Honolulu includes
a full refund if you never use it. So, the only thing you're out is
the interest on the money spent on the extended warranty that you would
have otherwise earned had it been sitting in the bank all those years
rather than being spent on something else.
You're a Toyota owner, tholen?
Post by t***@antispam.ham
I can understand some concern over the reliability of certain new
technologies, such as the hybrid system and the continuously variable
transmission. Of course, most components of the hybrid system come
with an eight year manufacturer's warranty.
Even the battery? If so, I'd bet it's pro-rated, eh?
EB
2006-10-18 23:28:41 UTC
Permalink
Post by t***@antispam.ham
The extended warranty offered by the Toyota dealer in Honolulu includes
a full refund if you never use it. So, the only thing you're out is
the interest on the money spent on the extended warranty that you would
have otherwise earned had it been sitting in the bank all those years
rather than being spent on something else.
That sounds like a pretty good deal. Do you think this is standard?
Other than loss of interest during that time, and downside?

Can you sign up during your warranty period, or do you have to do
this when you buy?

eb
t***@antispam.ham
2006-12-20 20:23:03 UTC
Permalink
Post by EB
Post by t***@antispam.ham
The extended warranty offered by the Toyota dealer in Honolulu includes
a full refund if you never use it. So, the only thing you're out is
the interest on the money spent on the extended warranty that you would
have otherwise earned had it been sitting in the bank all those years
rather than being spent on something else.
That sounds like a pretty good deal. Do you think this is standard?
I don't know, but the fact that nobody else has mentioned it is one
piece of evidence that it is not standard among Toyota dealers.
Post by EB
Other than loss of interest during that time, and downside?
Can't think of a downside.
Post by EB
Can you sign up during your warranty period, or do you have to do
this when you buy?
When you buy.

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