Should I buy the Platinum Plan warranty on my pre-owned Certified 2009 Corolla? (cost $1500)?

Question

It's a pre-owned 2009 Corolla LE They are giving me a good deal on the purchase price on the car. It looks to be in perfect condition. It has only 7000 miles....it was a fleet car.

The car is Certified by Toyota (which covers the drive train and transmission for 100,000 miles and 6 more years. I can get the additional Platinum Plan premium warranty which covers basically anything that can go wrong with the car. It costs $1500. (If the car were not already Certified, I would have to pay $2500 for the entire package.) Should I pay the additional $1500 and get the additional coverage?

This premium warranty is for 6 years from now and up to 100,000 miles (I only drive about 10,000 miles per year, so the warranty will be good for me for a full 6 years. It covers car rental while the car is in the shop, and covers everything except the normal service (e.g. oil change.)

Answer 1

...I agree with Mr.Sunny



the Corolla is dependable



1.....oil changes are cheaer at other locations

2....tire rotations are best done by Discount Tires Stores



"THose two items are the-life-of-the car" plus how well the car is driven...take-offs, hard cornering, aggressive highways mileage are all killers of car life"



I have owned/own several Toyotas and the most recent Camry purchase brand new receives it's oil changes at a reputable oil change busness, costing half as much as the dealer

...i went to Discount (my tire store for 20+ years) and they agreed to allow me to purchase their road hazard warrenty (10 buckes per tire) since the tires were brand new....now the tires get free balance and rotation every 6,000 miles, flats are fixed free....and the tires are warrantied through Discount Tire.....I really do not care for dealerships, due to "high-minded" procedures, however, dealers do come in handy from time-to-time...that is all

Answer 2

No, extended warranties are not worth the money unless you are getting an older, high mileage car. The Corolla is a very reliable car & the warranty from Toyota will be all you need

Answer 3

Your car has a 3 year 36,000 mile bumper to bumper warranty and a 5 year 60,000 mile power train warranty from the factory. You get the what's left of this on the used car. The Corolla is very reliable and I personally don't think that the extra coverage is a good value.

Answer 4

As a mechanic who has had many bad experiences with extended warranty's like the one you are looking at purchasing i would definitely NOT get it. They always seem to have an excuse for why they wont pay for this and why this is not covered. You would be much better off taking that 1500 and putting it in a savings account. Extended warranties are just like throwing money away.

Answer 5

Toyota Platinum Warranty

Answer 6

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Get a tune up, *get your brakes done*, just take it in to a reputable shop and have them check it out. but make sure everything they are doing only falls under your warranty, otherwise you might end up paying for it anyway, those shops will getcha if you don't know who you are dealing with, especially pretty girls with Lexus's

Answer 7

I can tell you that I bought a new 2009 Camry in Avon Indiana and was talked into the Platinum 1000000 mile plan for about $2000 and the dealer and Toyota has found some reason for both my breakdowns not to pay a penny.The most recent was this last weekend a rear caliper froze up burning up the rotor,the pads,and brake line,which the dealer had installed new brakes a short time ago.On the phone for two hours to dealer,warranty people,Toyota head people,to no avail.Said I would have to tow it to Avon,60miles,and wait till Monday to look at it and would give me no rental. I am DONE with Toyota,treated very bad by them,which the service folks that repaired my car told me before calling that they would not pay.

Answer 8

This Site Might Help You.



RE:

Should I buy the Platinum Plan warranty on my pre-owned Certified 2009 Corolla? (cost $1500)?

It's a pre-owned 2009 Corolla LE They are giving me a good deal on the purchase price on the car. It looks to be in perfect condition. It has only 7000 miles....it was a fleet car.



The car is Certified by Toyota (which covers the drive train and transmission for 100,000 miles and 6 more...

Answer 9

--->> Tips---> https://trimurl.im/e63/should-i-buy-the-platinum-plan-warranty-on-my-pre-owned-certified-2009-corolla-cost-1500

Answer 10

Save your money for the regular service fees. That way you pay for service you get instead of service you might never need.

Answer 11

The Toyota Extra Care Platinum Plan is an extended warranty, that covers unexpected breakdowns (an extension of the basic new vehicle warranty). Some responders are confusing it with a pre-paid maintenance plan (where you pre-pay for regular services, such as oil changes/tire rotations).



You can purchase the Toyota Extra Care Platinum Plan anytime up to the end of basic 3-year/36,000 mile basic warranty. You can buy it from any Toyota dealer, not just where you purchased your car, nor where you have it serviced. You can (and should) negotiate the price.



Even at $1500, I wouldn't buy the plan from your dealer. Toyota's MSRP for the 6 year/100,000 mile/$0 deductible Platinum Plan for the Corolla is $1200. There are plenty of dealers that'll sell you the same plan for MSRP, and if you shop around you'll find others that'll sell it to you for LESS than MSRP.

http://www.toyotafinancial.com/consumer/tfs.portal?_nfpb=true&_pageLabel=pg_VSAPricing&carSelected=Corolla



For an example of how shopping around can help you out, I'll use the Toyota Prius. The MSRP for the longest-term (most expensive) 7 year/100,000 mile/$0 deductible plan is $1850 on the Prius, yet there are several dealers that will sell this same plan for <$1000. Shorter term plans (such as your 6 year one) are even less expensive (<$800).

More info (a little dated, but...): http://vfaq.net/docs/ExtendedWarranty.html



So no, I would not get the warranty from your dealer, unless they offer it to you for a MUCH lower price.



Is the relocation assistance and towing worth it to you to get the warranty plan now, as opposed to waiting to closer to the 3 year/36,000 miles from the vehicle's in-service date/mileage to see how your car's reliability has been (or other Corollas of the same vintage)? If you can hold off, I'd suggest putting that $1500 in a high interest-bearing money-market or CD account so that you can purchase the same plan later.



Or do you really need to roll this warranty into your bank financing?



If you need the peace of mind, or would have trouble paying for an unexpected breakdown should one occur during that 6 years/100,000 miles, then I say go for the extended warranty. Just get it at a better price.



(However, if you were asking about a 3rd party warranty from someone other than Toyota, I would say to completely avoid it as a waste of money. Same goes if your dealer says that you can get all your money back if you don't use your plan by the end of the term, as that's an additional insurance not from Toyota... At least the Toyota dealers are used to the Toyota Extra Care plans, all dealers will work with them and get all the preapproval and paperwork done for you and will get directly paid by them (so you don't have to apply for a reimbursement from the warranty company). And you know that the Toyota warranty company will still be around later should you need it... I have never heard of them not approving work, unless you have done some non-factory mods to your car's system that is having problems...)