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An extended warranty is actually an insurance policy on your vehicle, a safeguard against expensive, unforeseen repairs. It covers repairs for an agreed-upon period of time and miles. An extended warranty can help make sure you don't have to pay through the nose for unexpected repairs.
While Toyota is known for superior performance, safety, and lasting power, even the best vehicle needs repairs and servicing in their lifetime. Once your Toyota manufacturer's warranty expires, having an extended warranty in place means you'll save money and have the comfort of coverage while driving.
Ultimately, having coverage provides peace of mind. A Toyota VIA is still likely to be at least $1,000, and it's possible you won't need a major car repair every year. Though, if one expensive repair would do serious damage to your budget, the Toyota extended warranty cost you pay could be worth it.
While it may sound like a good idea in theory, extended warranties often come with a high price tag and don't necessarily cover everything that could go wrong. Plus, many people who buy extended warranties never use them. In that case, an extended warranty becomes a cost with no financial return.
Toyota Extended Warranties 2020. When your Toyota factory warranty expires, you will likely be eligible for extended protection in the form of an extended warranty from the Toyota dealer. A one-time warranty transfer (in the event that you sell the car)
Con: Extended Warranties are Expensive Your bet is that your car will ultimately require more repairs than the cost of the warranty. The warranty provider is also placing a bet. The warranty provider's bet is that your car will not require more repairs than the cost of the warranty.
Extended warranties can range from around $500 to $2,000, depending on several factors. There is no universal pricing scheme that manufacturers and third-party providers follow to set the rates of extended warranties. The cost varies from provider to provider, and it can even depend on the vehicle itself.
In general, the average extended car warranty cost ranges from $350-$700 per year, but every person and policy is different. When your car needs repairs, and you don't have coverage, the mechanic will require payment in full.
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