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I am purchasing a 2010 Toyota RAV4 with 72000 miles. They are offering a extended warranty up to 125k miles or 4 years which ever occurs first. It's cost is $1800. Should I worry about getting this? Or will I be better off not worry about it? The car has been a 1 owner, all maintenance done at a dealership. Records and everything checked out at the Toyota website by checking the vin number. It's clean and my personal mechanic told me it's one of the most mechanically sound used vehciles he has seen lately.

So should I get the warranty?
 

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Which model did you buy? What would the extended warranty cover? Would it be with a reputable company and without a lot of fine print exclusions and conditions? If you needed to use it to cover a problem would it pay the repair shop directly, or would you have to pay and then would the company supposedly reimburse you?

If you bought a Limited, as JuneBug has pointed out even the HVAC system is rather complicated and has servo motors, and can be pricey to repair, while the HVAC systems on other models usually are manual. Buying any warranty involves a gamble. If you buy one it may never be needed, but if something goes wrong a good extended warranty would be worth the cost. Obviously as a vehicle ages the possibility for something to need repair or replacement increases. Still, RAV4s in general have very good reliability records.

If not buying the warranty one can do as nouse4aname suggests and establish a rainy day fund, and if nothing goes amiss put the fund and interest gained to some other good use.
 

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I got cheated the same way. Turns out the 7 yr warranty is... From the date of manufacture or one year from purchase! From a Toyota dealership.
 

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I wouldn't waste my money. Like most insurance companies, they will find a reason not to pay a claim buried somewhere in the fine print of the policy. Since these companies are not regulated by your State Insurance Department, the only recourse you have is to hire a lawyer at your expense and bring a law suit.
I put aside $100/month for deferred major expenses. I have almost $5,000 in that account now and that should be enough to cover a major breakdown. Chances are I won't even need it and I can spend it on something else when I sell/trade the RAV.
 

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I was in your situation a few months ago when I bought my 2010 RAV4 Limited with 33k, also 1 owner. Normally I don't go for extended warranties, thinking if I need one do I really want the product.

I considered how many miles I would likely have on the car by payoff time (& going from 7 to 12 years old), looked at what the extended warranty covered, remembered that my brother benefited from an extended warranty when the car he bought from the same dealer had major transmission woes (not a Toyota but issues specific to the brand & model he purchased). I finally decided that the extra peace of mind was worth the investment and went for it. From experiences with my last car (Honda Pilot) in its final months, I found that $1600 can go quickly when one major or multiple minor issues arise.

I am enjoying my purchase and comfortable with the decision that I made. All the best with your purchase, whichever way you decide!
 
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