Platinum Certified Extended Warranty - How much?

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Old 28 Sep 2006, 05:30 pm   #1 (permalink)
David In NH
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Default Platinum Certified Extended Warranty - How much?

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


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Old 28 Sep 2006, 06:54 pm   #2 (permalink)
Hachiroku
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Default Re: Platinum Certified Extended Warranty - How much?

On Thu, 28 Sep 2006 18:30:29 -0400, David In NH wrote:

> 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



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.


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Old 29 Sep 2006, 10:35 am   #3 (permalink)
Kurt Krueger
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Default Re: Platinum Certified Extended Warranty - How much?

David In NH wrote:

> 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.)
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Old 29 Sep 2006, 11:06 am   #4 (permalink)
Ray O
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Default Re: Platinum Certified Extended Warranty - How much?


"Kurt Krueger" <allez@worldnet.att.net> wrote in message
news:V2bTg.799$QZ1.26@bgtnsc04-news.ops.worldnet.att.net...
> David In NH wrote:
>
>> 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.)


The credit union will not have Toyota Extra Care products. I am not a fan
of extended service contracts in general, and especially ones from third
parties. Stick to Toyota Extra Care products if you are going to get an
extended service contract for a Toyota.
--

Ray O
(correct punctuation to reply)



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Old 01 Oct 2006, 04:38 am   #5 (permalink)
sharx35
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Default Re: Platinum Certified Extended Warranty - How much?


"David In NH" <dgintz@gmail.com> wrote in message
news:GLSdnclqePdZ0IHYnZ2dnUVZ_tWdnZ2d@adelphia.com ...
> 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


Extended warranties on Toyotas are for either suckers or nervous Nellies.
Which are you?



>
>



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Old 01 Oct 2006, 01:25 pm   #6 (permalink)
David In NH
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Default Re: Platinum Certified Extended Warranty - How much?


"sharx35" <sharx35@hotmail.com> wrote in message
news:w0MTg.33029$Lb5.20466@edtnps89...
>
> "David In NH" <dgintz@gmail.com> wrote in message
> news:GLSdnclqePdZ0IHYnZ2dnUVZ_tWdnZ2d@adelphia.com ...
>> 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

>
> 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.)


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Old 01 Oct 2006, 03:51 pm   #7 (permalink)
tholen@antispam.ham
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Default Re: Platinum Certified Extended Warranty - How much?

sharx35 writes:

> 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.

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Old 02 Oct 2006, 10:01 am   #8 (permalink)
Mike Hunter
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Default Re: Platinum Certified Extended Warranty - How much?

Placing that amount in an interest bearing savings account, and paying for
any repairs from it that would be covered buy the extended service plan, (it
is not a WARRANTY,) would be an even better choice IMO.

If your intent, when asking for advice in a NG is to disagree with the
advice given, why ask? One would expect the person asking would either take
the advice given or not, as they chose.

mike hunt


"David In NH" <dgintz@gmail.com> wrote in message
news:NNOdndFTNPZ0mr3YnZ2dnUVZ_q2dnZ2d@adelphia.com ...
>
>> 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.)
>



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Old 02 Oct 2006, 02:58 pm   #9 (permalink)
David In NH
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Default Re: Platinum Certified Extended Warranty - How much?


"Mike Hunter" <mikehunt2@mailcity.com> wrote in message
news:z1adnZMzqdNJtLzYUSdV9g@ptd.net...
> Placing that amount in an interest bearing savings account, and paying
> for any repairs from it that would be covered buy the extended service
> plan, (it is not a WARRANTY,) would be an even better choice IMO.
>
> If your intent, when asking for advice in a NG is to disagree with the
> advice given, why ask? One would expect the person asking would either
> take the advice given or not, as they chose.
>
> mike hunt
>


My original question was not whether to get the plan or not - it was as to
how much people were paying for it.

Thanks for your input though.

- Dave


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Old 07 Oct 2006, 04:55 pm   #10 (permalink)
Stan Wright
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Default Re: Platinum Certified Extended Warranty - How much?

Paid $1495 for mine in Gresham, OR (Portland suburb). Didn't really
even think about it or negotiating the price (maybe I should have). My
last Toy was an '88 XtraCab 4x4 truck with a five-speed and the 22-RE
engine. Both were supposed to be about as reliable as anything on the
market (bullet-proof, I've heard innumerable times). Both crapped out
on me in under 120,000 miles, and the vehicle was not an "off-road"
vehicle.....I didn't even care to take it on gravel roads.....It was
babied and it took me to the point where I swore off Toyotas until two
months ago when I began to look for a "high-mile-per-gallon" vehicle.
Three years and 36,000 miles wasn't gonna cut it. I'm at 4,000 miles
after a month and a half. Six years and 100,000 hopefully will, and at
that point I'll probably be ready for something else. $1495 doesn't go
very far for electronics, labor, engines, or transmissions.....


Stan

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