Is it worth it to get the extended warranty? It's $1,600 for 8yr/100k. Is this worth it?

 

Extended warranty is a gamble. If you buy it, you're betting that your car will have a malfunction within the extended warranty period. So it's not really a good or bad thing, but based on personal experience. I needed it on my old Camry and didn't get it. I purchased it on my 4Runner and have yet to have any issues (even under the standard warranty), so I feel like I lost out on that one.

There are different types of coverage available. I'd suggest to try and get the coverage that best suits your annual mileage.

So if you drive only 5k/year, you'd want the 8 years w/ 75k coverage. You can take advantage of the time since the mileage is way off. The opposite is also available with shorter durations and higher mileage, if you're that type of driver.

 

My .02 :

The extended warranty is a scam. I have a friend who is an adjuster for extended warranties. He told me it's a major profit maker for everyone. You have to read the fine print, many times you can't make a claim because something failed that was not covered. He mentioned seals, for example. If a seal fails and causes major engine damage, the damage won't be covered because it was caused by a seal (this may not apply to the Scion version, you would have to check). You can also get voided if you don't have proof of all the maintence you do on the car.

I bought the extended warranty on a 1995 ford escort for 800.00 and never used it. Scions are very reliable (I have read), so you may not use yours either.

Another thing, if you plan to modify your ride, you may void the warranty.

Then again if somthing goes, you may wish you had it.... Like JK said, with any insurance, you are betting it will break and they are betting it won't.

I got a free lifetime powertrain warranty through my dealer. You may find this offer as well if you shop around...

 

most of the time the oem coverage will fit most people. if you feel you will drive more miles or keep the car a long time than it might be beneficial. i go through cars every year or two, so i never get the extended warranty and i only drive 10-12k miles a year.