Question:
I recently purchased a 2000 Avalon with low miles. 28k. When I purchased the vehicle, via a dealer, they offered an extended bumper to bumper warranty.
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I was curious about this offer so I contacted the company offering the warranty. They provide a variety of options, but when it comes down to it, they would want between 2.5k to 3k for the coverage.
The best deal seems to buy the most expensive one that offers 5 years 80k miles of coverage, the period starting when I purchase the coverage and not from the start of the cars age.
Being to bumper to bumper I wonder if this is a good idea? 3k seems to be a good chunk of change, but it is a 7 year old car.
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I'm wondering how good/reliable the insurance provided by Warranty America.
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http://www.aaautowarranty.com/wrap.asp...
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Is buying this warranty going to be a worth while investment.
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Mike
Answers:
I work for an extended warranty company. There is NO such thing as bumper to bumper coverage no matter what anyone tells you. Try and get an actual copy of the contract (NOT a brochure as it is not legally binding). If you read it, you will find out what is actually covered and what is excluded from coverage. (Yes, there are exclusions on ALL extended warranty contracts!)
The main advantage to buying any extended warranty is that it gives you peace of mind knowing if the car is properly maintained by you that in all likelyhood a major repair would be covered. Are they worth it? It depends on the policies price and how much is paid out by the warranty company over the life of the contract! Toyotas are very reliable cars. You will most likely not get your moneys worth on a contract that costs you "2.5-3K". The 5 year 80,000 mile contract, if it is a new car contract most likely covers you until your car has 80,000 miles on the odometer, not 80,000 added to what is already on it, but I could be wrong. Please read your contract BEFORE buying it! This is the biggest mistake I see every day at work. MOST people do not read the very expensive contract before purchasing it and even after purchase! Most people have no clue what they are paying for and what is covered and what is not! My sister has a '98 Avalon with almost 120,000 miles on it that is still in very good condition. The only repairs that she has had to pay for are brakes, tires, 1 battery, and the left front door lock actuator 2 times. In her case she would have not recouped or even come close to recouping a "2.5-3K" investment in an extended warranty contract! Take your time, read the contract, and if you still want one shop around as there are alot of different extended warranty companies and be very careful if you buy one online. Buying one online you are very likely to be ripped off! They take your $ and when you go in for repairs, find out the company you sent your $ to never submitted the contract or the $ to the warranty company and are long gone! Be careful!
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congratulations. u have purchased one of the most reliable cars made. do not buy a warranty. if this car indeed has such low miles, which caused me to raise my eyebrows, then you should expect many years of carefree motoring. ponder the following: what could break on my car that would cost me 3000 to replace. well perhaps if your trans blew up or some major engine catastrophe. u could almost replace the engine with a used one for that much money. so heres what you do, put the 3 grand in a one year CD and earn the interest on the money. at the end of a year if u dont have any repairs, put it in another one year CD. do this for five years. lol. seriously, the warranties are a poor choice. if u dont believe me, check out consumers reports. happy motoring.Where is the O2 Sensor located on a 2003 Chevy Venture Engine?
i own a repair shop and its not worth it ,on an older car like that is just a gimmick to get your money ,i know i do some of the service work for some of these warranty company's,and there's so many ways they can get out of having to pay ,that its not worth buying it,and its a 7 year old car like you said,and there not going to cover it like you think they would anyway,they always find a way to get out of having to replace an engine or transmission,and that's usually why people buy the warranty's to begin with,so save your money its not worth it,drive this car for a few years,and take the 3k and trade it in on another car,and your better off that way,good luck with it i hope this helps.More Questions & Answers ...
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