WHAT IS EXTENDED WARRANTY:
Whether you’re someone who drives a car for a long time or likes to sell it after a few years, this type of service contract helps mitigate costs from unexpected repairs that occur after the standard coverage period.
One of the best ways to determine whether extended warranties are worth the cost is to take a look at a car’s reliability rankings, common issues, and associated repair costs.It’s an investment in limiting financial risk and can save you money on costly parts, labor, and repairs down the line.
WHY YOU BUY EXTENDED WARRANTY:
Peace of Mind: Rest easy knowing any unexpected issues will be covered.
Transferable: Most extended warranties are transferable and will therefore increase the resale value of the vehicle.
Customizable: Many third-party extended warranties are customizable based on your needs and desired level of coverage.
Extended Coverage: These protection plans provide coverage beyond the factory warranty tenure for those who want to keep their cars for a long time.
Avoid Unexpected, Costly Repairs: A monthly payment typically costs less than one-time, expensive repair bills on the vehicle in the long run.
Options: There’s opportunity to shop around for the best terms and price, as extended warranties are offered by third-party companies in addition to the manufacturer.
While some might argue an extended warranty, like health insurance, is something you may never use, precaution is generally better than a cure. In cases of hard-hitting repair bills, an extended warranty keeps costs at bay and provides additional benefits that lessen the interruption caused by having a car in the shop.
THOSE PART WHICH ARE NOT PROVIDE TOYOTA UNDER WARRANTY
While a new car’s factory warranty is sometimes referred to as “bumper-to-bumper” or a “full warranty,” this language, which indicates comprehensive coverage, can be misleading.
In addition to the time and mileage coverage caps listed above, the Toyota factory warranty excludes regular maintenance items, and damage or failures resulting directly or indirectly from a long list of incidents.
To help you understand the potential costs incurred from the failure or breakdown of what’s not covered, here’s an overview by type of what’s not included in Toyota factory warranties:
Accessories parts: The Toyota Accessory Warranty is in effect for 36 months or 36,000 miles, whichever comes first.
Damage or Failures Resulting from Certain Incidents: Fire, accidents, theft, abuse, negligence, misuse (racing), improper repairs, alteration or tampering, lack of improper maintenance, installation of non-Genuine Toyota Parts, airborne chemicals, tree sap, road debris, lightning and other environmental conditions, and water contamination are all not covered under warranty.
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