Extend The Warantee Or Not!

[flyboyprowler]

My years warantee that was supplied through auto direct is about to expire. They are offering to renew for up to 3 years, on full comprehensive cover, for £324 for 1 year, £424 for2 or £524 for 3 years. As ever it seems tempting, but what does the team think!!

[Big Kev]

Nah, Ainz......these insurance based warranties are mince at the best of times, and should you try to make a claim based on Spanish garage diagnoses, methinks you will be on t'plums, mate.

Big Kev

[CharlieFarlie]

These warranties are debatable at the best of times but its one of those things if you don't take it things go wrong and if you do they wont..........

The way I look at them is the company's have to and do make profits which means paying out far less than they take in...

Me ?? Nah no way....

[Hoovie]

I would regard an extended warranty as a piece of mind warranty mostly, along the same kind of lines of how you chose what features you go for on your car insuance. I personally would only go for the Toyota dealer warranty and not a 3rd party one.

Also, Another aspect to consider is would/could you carry out any repairs yourself?

I took out an extra 2 years warranty on my 2005 RAV4 when I bought it in 2006. When it was 4 or so years old, I got a full set of brake discs under the warranty. Now the cost of Mr T carrying out that repair was about the same as the warranty cost, so on that front, the warranty paid for itself, but .... If I replaced the discs myself, then it would have been clearly cheaper then main dealer charges.

[Mike JD]

These warranties are debatable at the best of times but its one of those things if you don't take it things go wrong and if you do they wont..........

The way I look at them is the company's have to and do make profits which means paying out far less than they take in...

Me ?? Nah no way....

These warranties are debatable at the best of times but its one of those things if you don't take it things go wrong and if you do they wont..........

The way I look at them is the company's have to and do make profits which means paying out far less than they take in...

Me ?? Nah no way....

Charlie I am with you on this but mebbee have a different way of looking at it. Self insure: ie: look at those figures and put them away in a separate account. If yer motah goes bang you have a few quid put by to fix it. If it doesn't you have a fair bump start towards chopping in for a newer one - or invite Big Kev and I to your party to celebrate the reliable Toyota. We will help you with the painful task of spending that cash

[firemac]

Nah, Ainz......these insurance based warranties are mince at the best of times, and should you try to make a claim based on Spanish garage diagnoses, methinks you will be on t'plums, mate.

Big Kev

Have to disagree, BK. I've had a couple of claims with WD on the 5-dr (after it was too old for Mr.T) with no hassle at all. It would appear that WD are pretty good.

I'm now just debating whether to stay with Mr.T's extended warranty on the 3-dr or go with WD. Nr.T wants £640 for the year (which does include Club Toyota/My Toyota or whatever stupid new name the mktg morons have come up with this week) whilst WD wants £400. Admittedly I've never had any hassle from Mr. T either & there is a certain add'l security in staying with him.

Ah guess I need a few more drams to ponder this with............

[Parts-King]

Off the peg=Waste of space-no matter who! We deal with them everyday and have to tell customers all too often, sorry your claim limit is XXX you owe us YYY if you want the repair done. There is also the scam of sudden and catastrophic failure, it has to suddenly fail and keep you off the road to be covered, otherwise it's wear and tear and you pay. This is because they are insurance backed warranties

Manufacturer extended warranty are NOT insurance based but an extention of the manufacturers warranty, so you dont get the same problems as above

Kingo

[flyboyprowler]

Ah, the no's have it, but I quite like Mike's idea of the self invest and party later!! This is for the UK car Kev, and I was just a bit worried that having it sat in my garage, while I sup sangria in Spain, it may just throw up a few more problems.

[redlew]

I extended from 3 to 5 years , then 5 to 7 and finally 7 to 9. Main reason was that when , not if , the DMF went , the £2500 bill would be paid for.

Despite every unwarranted DMF failing, mine didn't so when the clutch wore out (a wear and tear item) I ended up with a bill to replace it and had the DMF done at the same time.

About £2400 paid out, about £350 received back -mind you still a year to go so who knows.

Must say that self insurance is the way I'd go next time.

[Parts-King]

Fine to self insure if you dont spend the money on the next household crisis, nobody seems to be able to set asisde something for a rainy day nowadays. We have seen customers refuse to spend money on their car to make it roadworthy, let alone set money aside "just in case"

Kingo

[Mike JD]

Fine to self insure if you dont spend the money on the next household crisis, nobody seems to be able to set asisde something for a rainy day nowadays. We have seen customers refuse to spend money on their car to make it roadworthy, let alone set money aside "just in case"

Kingo

Quite right. It does require a certain discipline but that does not make it impossible. A separate account for that purpose alone helps.

On the assumption that the Toyota scheme is not budgeted to make a loss then it is in the same realm as the bookmaker. In the latter case if you are lucky or very skilled you can get more out than you put in otherwise the odds are that you will not. That, in the warranty scheme case, does not make it a bad idea. It is something of a gamble but the main prize is peace of mind for the faint hearted. That alone gives it a validity that may justify the cost.

I can understand the refusal to pay out for wear and tear. If that were not so the scheme would favour the rough driver at the expense of the careful one.

[CharlieFarlie]

I totally agree that the Dealer warranties are worthwhile.. That said I still believe its backing yourself in having bad luck....

As for warranties from WD and the like I would never waste money as they have so many loop holes and get outs its a joke...

As for self insuring well I just repair our cars as I go and see no real point in setting aside coin in case something goes pear shaped..

Hoovies point is also very valid indeed ! If you are handy with the spanners then the financial liability is dramatically reduced...

I look at like this... I have never bought into these warranties for cars or electrical goods.. So far ole Farlie has been lucky.. Lucky too in so much as all those premiums are sat in my bank account not shared among some in needy share holders ...

You pays yer money and takes yer chance.........................

[firemac]

I totally agree that the Dealer warranties are worthwhile.. That said I still believe its backing yourself in having bad luck....

As for warranties from WD and the like I would never waste money as they have so many loop holes and get outs its a joke...

As for self insuring well I just repair our cars as I go and see no real point in setting aside coin in case something goes pear shaped..

Hoovies point is also very valid indeed ! If you are handy with the spanners then the financial liability is dramatically reduced...

I look at like this... I have never bought into these warranties for cars or electrical goods.. So far ole Farlie has been lucky.. Lucky too in so much as all those premiums are sat in my bank account not shared among some in needy share holders ...

You pays yer money and takes yer chance.........................

WD aren't that bad, Charlie. We've used them for the past couple of years on the 5-dr and it covered the new cat (which my least favourite TGB dealer ever was the cause of failure) with no quibbles at all. Their T&C's are clear and they do go out of their way at the outset to explain all the caveats before you sign up.

I'm sure that there are people who have had bad experiences with them but we certainly haven't. Having said that I prefer TGB's own extended warranty because it adds some further peace of mind/less liklihood of hassle but they don't go beyond 8 years old in most cases.

I've also run cars in the past without any extended cover & been lucky but, as you say, you pays your money & takes you choice.