Ok, folks, bit of advice needed here. The extended warranty on my Yaris is up at the end of the month. Renewal cost is £505 for 2 years but this includes Club Toyota (RAC) cover worth £55 a year, so in effect is just under £200 a year. Apparently they do a direct debit scheme at just over £50 a month for 10 months also.
What I'm pontificating on is whether it's worth it or should I just hope that no major problems crop up? There have been things done under the warranty so far but they were all 'unusual' faults and it's been problem free for about a year now. (Just passed the MOT with flying colours and nothing reported at the service either)
So, do I shell out the £500 or just put £25 a month in the bank and have a holiday if everything is still fine 2 years down the line? Or are the cheaper warranties advertised on here worth thinking about instead?
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IMO, an extended warranty is a rip off. I believe that it's a better bet to pay for things "when" they go wrong rather than "if" they go wrong. Also, bear in mind that your Yaris is one of the most reliable cars on the road. The risk of it developing a serious problem is remote.
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Its a Toyota,relax have a holiday.
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I think when you consider prices of both parts and labour for repairs these days £200 a year is not bad.but then it would depend if the warranty terms are too much different from original.Toyota are as a rule expensive to repair.I would pay it for peace of mind.Assuming the cover is for parts and labour.after all if you get caught out could cost more than premium to repair.
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Cover is as per the original warranty - full parts and labour and also covers MOT test failures. The downside is that I will still have to pay Toyota servicing costs which I guess will push things up further - just payed £230 for 40k service + MOT and nothing needed fixing...
The point about high costs is true though - just thinking that if something like the digital speedo went it would cost an absolute bomb to replace...
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...and roughly how many miles do you expect to travel in the Yaris in the next 2 years?
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At current progress around 12k a year. Does that make a difference?
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I obtained a 2000 1.3 Yaris CDX this year for my daughter.
I clicked through to our sponsor Warranty Direct only to find there is no entry for the Yaris. The MD kindly, promptly replied to my Email and explained that it was due to lack of data.
I take that as further support to the popular "Its a Toyota so stop worrying" fan club.
From the service sheets I got there was very little changed.
Only outstanding item was corroded disks £240 to do the job.
I looked at them but there seemed just rust on the thickness and no shoulder wear.
What I would recommend to any Yaris owner is a spare bulb kit (Halfords sell them. I think it is No 23) or make your own up.
Get the correct bayonet orange bulbs.
Brake/stop & 21W bulbs are PUSH fit so not available in filling stations.
Side indicators are often whole unit replacement so I gave them a miss.
Interior bulb is a tiny festoon bulb.
Fuses are the MINI blade type. Again not easy to get in a filling station.
NO Haynes manual published which in spite of adverse comments I do miss having one. The user manual is not the best especially the poor translations. I do not know if an alternative is published. Anyone know of one?
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SWMBO has a Yaris 1.3CDX auto that will be 3 years old in Sept. For what it is worth she will not be taking out an extended warranty.
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Does the warranty stipulate that you need a Toyota service history? Could you get away with a registered mechanic servicing it and stamping the service history book?
If so, that'd save on servicing costs and might make the warranty more desirable.
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To quote the relevant webpage:
What we ask in return
You must have your vehicle serviced and inspected by an authorised Toyota Service Outlet at least once a year
So, yes, it does have to have a Toyota service history. What's odd though is that in one place, Toyota describe the 10k 'intermediate' service as being 'recommended' rather than necessary yet it seems they won't honour the warranty if you choose not to have it. (The intermediate services are basically an oil change and basic checkover - which I believe the dealer will do free anyway - costing around £100)
Certainly Club Toyota sound worth having - £55 for the full RAC cover can't be bad - but not so sure about the warranty...
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When the little Toyota finally goes to the crusher the digital speedo will still be working.Do you think Toyota UK are offering the extended warranty with a view that it will cost them money?It will be a source of much profit.
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It wont matter to toyota.Insurance covers it.As for crusher may be retired by then.
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Personally, I would go for the warranty since it costs very little compared to the cost of any problems you may have. If you think hard enough, every car you will ever have will always have a little problem, even if it is as simple as the steel wheels becoming rusty, disks juddering/ rusting, dash sqeeking or anything. In effect, you will have a perfect car at the end if you pick up every minor defect and have it repaired by warranty.
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My guess is that this warranty will have a 'wear and tear' exclusion.
Rusty brake discs, pads, battery failure, holes in exhaust, worn ball-joints etc. etc. (i.e. all the things that usually go wrong with cars) probably won't be covered.
I am open to correction - but that's my guess.
If it genuinely covers everthing then I would jump at it!
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Apply the same rule as for all insurance-type products.
Toyota are offering this warranty to you willingly. Therefore they expect to make a profit. Therefore the average cost of repairs spread over the whole Toyota fleet will be less than they charge for the warranty.
Thus, on average, purchasing extended warranties for your car, stereo, video, TV, hoover etc etc will cost you more than repairing/replacing them when they break.
So, for those purchases where the maximum likely repair/replacement cost is within your means, don't take an extended warranty. For things like a house, where a complete rebuild would be too much to find, take the warranty/insurance.
It's called "self-insurance". What's best is that saying that you have a policy of self-insuring is one thing that actually shuts up the salepeople who are trying to foist the policies on you.
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I just say 'no thank you' - the thought of discussing 'self-insurance' with the staff in Curmet on the Old Kent Road beggars belief! I stick with the 2 years free extra warranty that comes with items purchased on my HSBC 'Premier' credit card.
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I just say 'no thank you' - the thought of discussing 'self-insurance' with the staff in Curmet on the Old Kent Road beggars belief! I stick with the 2 years free extra warranty that comes with items purchased on my HSBC 'Premier' credit card.
Ah ... but when you say "no thanks" they try to change your mind.
Say that you have a policy of self-insuring such items and they arer sufficiently confused as to allow you a swift getaway....
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Toyota are offering this warranty to you willingly. Therefore they expect to make a profit. Therefore the average cost of repairs spread over the whole Toyota fleet will be less than they charge for the warranty.
Up to a point. I'm not saying that extended warranties are necessarily a good buy, but don't forget that the marginal cost of a cambelt change to a garage is probably about £5. (Yes, the Yaris is chain driven, and it's maintenance, not warranty, but...) The rest goes on paying for the premises and the labour, which they'd have had to stump up for whether the mechanic was fixing your car or drinking coffee.
Repairs may not be quite as labour intensive, but it's a factor. Furthermore, Toyota may well be wiling to pass on some of its cost saving (compared to your paying for the work yourself) in exchange for the certainty of having the money up front and knowing you won't go to a back street garage to do the work. It may be that the average cost of repairs to a Yaris to its owner is actually more than the cost of the warranty, or within a premium that's worth paying to avoid the risk of bigger bills, but clearly is less than Toyota's average cost for the repair.
My take is that if you'd use the Toyota franchise irresepctive of whether you had the warranty or not, and if it's reasonably comprehensive - i.e., it allows for wear related failure or degradation on items that don't have a set life - go for it; otherwise if you'd use an independent out of choice, or not comprehensive enough, it's not worth it.
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Just got back from the Gulf and checked in. Please see my technical matters thread headed 'Yaris whine' where SWMBO had a problem with the clutch in her Yaris.
It remains to be seen whether the problem is solved by the replacement clutch which the dealer put in foc under the normal warranty but I would be inclined to take out an extended warranty for peace of mind.
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BE AWARE - the extended warranty, even the 'Manufacturer equivalent Cover', only covers a mechanical part if it is subject to - and here I quote - a 'Sudden failure'. In other words, it must go bang or break. I know this to my cost. Anything which gradually wears out, corrodes, or basically, would cause them to actually PAY OUT on a claim, is excluded. In my case, the aluminium heat shield which protects the Yaris boot floor from the silencer corroded through and fell off. A new one is £35 + fitting. First they refused, saying it was part of the exaust and not covered. I successfully argued the toss, as it is bolted to the car body. They now say it has corroded through; corrosion is not covered.
This is my second falling out with them. The first was when the exhaust pipe fractured and fell off at 2 years old, due to a weld failing. "Sorry, but the exhaust is not covered"... it was only when I threatened to sue them on the grounds that it was a manufacturing fault, that they gave in.
My advice? Don't fall for the cr*p they feed you, put the £500 in the bank. Or if you do, pay up front - the finance charge for the pay-monthly is a complete rip-off; read the small print and save yourself £100!
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