New Yaris + warranty Question

[hpvampiress]

YAY! Yesterday, I purchased a black, five door liftback with the PQ Power Package, remote keyless, cruise control, all-weather package, and rear spoiler for $15,550 with 0.0% financing :)

I just want to let you all know that this forum was the main factor that ended up pushing me to buy a Yaris. This is my *first* new car purchase!

One question for you all (for now). When I was in the process of signing all the final paperwork, I noticed that my little $15550 Yaris had somehow jumped up to over 20k!! Upon looking through all those extra charges, I noticed that I was being charged close to 3k for a warranty through Gates. It was a GREAT warranty, don't get me wrong...it seriously would cover everything for the next 7 years. But $20k for my first new car just wasn't within my budget, so I had to remove the warranty, to the dealer's dissatisfaction.

Anywho, my question is, is there a warranty out there that I can buy for less than $3k that would cover dents/dings, tires, and windshield damage? That was the main part of the $3k warranty that I really liked. Ha, that part of it only costed about $600, but I had to buy the entire package to get it.

Any insight would be greatly appreciated.

Thanks and YAY YARIS!

-Noel

[ROCKLAND TOYOTA]

someone on here is offering an extended warranty for 800 or 750 bucks i think. forgot his username.....

[Goose]

It's totally your call, but I wouldn't get any extra warranties.

Unless you're living paycheck-to-paycheck, abuse your car, and are going to keep your car for the full term of the warranty, then maybe get a warranty. I still wouldn't suggest buying one, though.

The factory warranty will cover anything that may happen while it's in effect (except wear items). Save your money for scheduled maintenance/wear items. Whatever might break after the factory warranty probably won't cost as much as any third-party warranty. Remember - warranty companies are out to make money on you.

[90tsi]

they tried the same with me... my month was gonna b around 250 or so and when they got done it was like 390 a month I was like whoa! WTF

[SpaceShot]

For myself, I do my own basic maintenance (oil, tires, plugs) and only go to the mechanic for major stuff where I can't get the parts or the tools to do a proper job.

Look carefully at your insurance policy, it may already cover any windshield damage. (high priority safety item in most states)

Also, the owner of the shop where I go is a friend of mine that was referred by a neighbor. My son goes to school with his daughters, so when I do have to pay for repairs, I feel better spending it with someone I know and like.

Ask around or goto cartalk.com and pick out a good mechanic before you need one. Take it there for inspection next year and see if they treat you right.

Instead of spending on the warranty, put $25 - $75 into savings each month (in an account NOT linked to an ATM card...) and then you can cover other unexpected expenses as well as car repair.

[hpvampiress]

Thanks for all the great info! I was very stressed about not buying the warranty, but I feel better now

[b_hickman11]

When I bought my 08 Yaris the dealer tried to sell me the ex. warranty for $2000. 5 minutes later, the cost of the same warranty was $500 so I took it. I put a lot of miles on my vehicles therefore the 36,000 mile factory warranty would be gone after only one year of owning the car so thats why I went with the ex. warranty.

[IllusionX]

Warranty or insurance?

extended bumper to bumper warranty is ~1500$ for 5years, 120,000km (74k miles??), and then, there's another ~1500$ for the insurance, which covers the car in the event the insurance company would not pay back full retail price if it is written off. Or would pay the difference for OEM brand new parts if it is repaired.

So that said, I got that insurance thing... and i'm covered for the total price of the car (some 23500$ that i paid in 2006) if i ever get into an accident and is written off, for the 5 years of my lease. It's somehow a deal...

[tomato]

Congratulations on your first car purchase (and especially the 0% financing part!) and welcome to the forum!

My Yaris was my first car purchase at a dealership as well, and they also tried to get me with an extended warranty of some sort.

I put the question through the forum (do a search on "should I get extended warranty" and you'll find a couple of threads like that) and the vast majority of the members who responded at the time suggested I don't get any (27 to 30, I think) since I have the manufacturer's warranty.

So far, the Yaris has been working like clockwork . I followed one member's advice and put the money aside instead of giving it to the dealership. If a big repair comes along, I'll use that money. If not, it stays in my pocket!

[mryaris]

Originally Posted by hpvampiress

YAY! Yesterday, I purchased a black, five door liftback with the PQ Power Package, remote keyless, cruise control, all-weather package, and rear spoiler for $15,550 with 0.0% financing :)

Congratulations!

Upon looking through all those extra charges, I noticed that I was being charged close to 3k for a warranty through Gates. It was a GREAT warranty, don't get me wrong...it seriously would cover everything for the next 7 years. But $20k for my first new car just wasn't within my budget, so I had to remove the warranty, to the dealer's dissatisfaction.

-Noel

Heh......the dealer was dissatisfied because you "cost" him about $2500 in additional profit!

I was almost nicked with a $2550 extended warranty when I bought my Yaris a few months ago. Same deal.....we came to an agreement and when I met with the paperwork guy an extra $2550 was added on. Kinda shady, if you ask me. I figured it was just this one dealership, but after your story I'm wondering if it is more indicative of a serious problem within Toyota's dealer network itself.

I have bought a few new cars over the years and while they pushed me to buy an extended warranty, they were always upfront about it.....they never tried to just add it to see if I would catch it before I signed. Lesson? Always read and re-read the contract BEFORE you sign it!! You obviously know that......unfortunatley many people don't, which is how the dealerships pad their bottom line.

I know you got 0% financing, but let's say you had to pay 6 or 8%.....that $3000 warranty will wind up costing an extra $1000-$1500 with interest! Not worth it.


Again, congratulations on your new Yaris. It's a fun & frugal little car.