Buying a Used Car
#189766 - 06/28/05 08:48 AM
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Augie
Reged: 10/27/04
Posts: 5807
Loc: Illinois
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I may be buying a used 2001 Corolla. I would have 16 months left on a warranty which would basically cover the engine, transmission, and axles.
I need to decide if I should invest in an extended Gold Extra Care Warranty that would cover it for an additional 2 3/4 years and would cover suspension, steering, fuel system, cooling system, air conditioning and heating, brake, electical, and computer and electronics. It also would cover towing, rental car. It would not cover regular wear and tear such as brake pads, wipers, etc.
The extra cost for this coverage is $895, but comes out to be $1020 when added to payments with the finance added in.
I don't know if I should take it. For one thing, the car is a Toyota, which is already a pretty reliable car. But, it is an older car and this warranty would cover it until it was 8 years old...and would cover extra stuff the original warranty doesn't.
BUT, money is a big problem for me,,,I don't even know how I'm gonna manage the car payments...but I will somehow.
So, what do you guys think??? Would you take it? Or do you think it's a way to get customers to spend more money. I know I'll be upset if I spend 1000 bucks on it and don't use it...but if something goes wrong, I'm gonna be kicking myself if I don't take it! It could pay off itself if only one problem happened
But again, Toyotas are suppose to be reliable.
They also offer a credit insurance that says Toyota will pay the monthly payments if for some reason I need to go on disability...which I have been on twice in the past. This coverage costs an extra 325 dollars, I think..or 500? And adds 9 dollars to each payment over the 5 years. But I don't want to have to go back on disability again, but you never know. 
Any advice on whether I should take either of these, given I decide to get the car?
I was in a bad accident, for those of you who didn't know. My car was totaled about 3 weeks ago.
Thanks for all replies. I really would appreciate some advice/comments. I need to decide by tonight!
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~ Beth
Constipation, pain prodominent,cramps, spasms and bloat!
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~ Beth
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Personally, I wouldn't buy the insurance. If you are paying $1,000 for the insurance, what are the chances that the car will need more than that in repairs? Sure, it could happen but I've never bought any of those extanded warrenty things myself as money is always an issue for me as well! Good luck!
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Taking it one day at a time.....
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I say skip the extra coverage. With this last car, I bought an extended warranty. And as it happens, I had to use it, BUT... the amount I paid out for the coverage and the amount I got reimbursed for were almost exactly the same $ amount. Which means that I could have just skipped it... either way, I paid the extra grand! 
So skip it! That's my vote.
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I saw skip the warranty---and take your chances. If you buy the warranty and never have a problem, you're going to kick yourself for forking out the extra money. If you DO have a problem, you will just have to pay for it yourself.
What if you took whatever amount you'd pay monthly for the coverage into a savings account and later, if you don't need it for repairs, you could pay yourself back with a bonus??
Toyotas are great cars! You shouldn't have a major problem. Just make sure a good mechanic checks the car before you buy it. If he ok's it, go for it---and try not to worry about what COULD happen.
Good luck!
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You DO want those first few months of warranty, if anything is just WAY wrong with the car it'll show up before that expires. Like the Ford minivan that dropped it's transmission after 1 week! Warranty was GOOD!!
Toyotas are great, we just got a Matrix and love it. Mom and Dad are still driving their Camry and it looks brand new, I think it's a 93 or 94! Drives great, too.
GL!!
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Take care,
Michelle
...the greatest of these is LOVE. (I Cor 13)
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I am no help here...but I wish you the best and that you make the right/best decision for you (I have faith!)
Love, Ruch
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Formerly known as Ruchie
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I know this is too late but what about a new car? Like a lease or something. GM and Ford are offering wonderful deals right now. You can get the employee discount without being an employee. We looked into but decided we were good with the cars we had right now. Just a thought? 
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And will be making payments for the next 5 years. Thanks for the feedback. The guy told me I could think about the extended warranty over night and let him know tomorrow or Thursday. The owner of the dealership is married to one of the professors at the college I work at...so they did me this favor. I wish they'd throw it in for free!
I still don't know what is the best thing for me to do. I have such bad luck...I know if I don't take it, something is going to go wrong...and if I do take it nothing will happen! There is a lot I need to do with that 1000 dollars it would cost me.
I hate decisions! I honestly don't know which way to gamble on this one! But thanks to all of you who gave me your opinion. It looks like the majority of you, or all of you, think I should take a pass on it!  And to those who wished me good luck, thanks! I did think about the GM deal, but still can't afford a new car, unfortunately. And I really wanted a Toyota or an Escort. I've read good reports on both these cars!
Tomorrow I need to decide for sure, so I'm sure I'll be up all night stewing over this...I'm so indecisive! And needless to say, my tummy is rebelling over all this money I just signed my name to pay back and have no clue how I'm gonna make that one happen! My income isn't changing and I barely make it now! I wish there really were money trees!
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~ Beth
Constipation, pain prodominent,cramps, spasms and bloat!
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I'd skip the insurance but maybe add the disability thing if you think it's at all possible you'll end up on disability even for a short time again. You don't want the car being taken away cause you're too sick to work! Good luck. I hope this goes well for you. It's about time the good luck fairy paid you a visit
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Amy
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Not to be the dissenting opinion ...
I would think very hard about refusing the warranty. I just bought a car in May, and I was in the same boat - I didn't want to pay for something that I might never use. But we realized that my lifters are hydraulic and will likely need to be replaced and that will cost at least $600. And if I ever got into an accident (which I did a week after I bought the car, but thankfully I was in my old vehicle) where my airbags went off, that would cost me $3000 to replace. I got the warranty, refused the credit insurance, and bought gap insurance (which will cover the remainder of my loan if the car gets totalled).
So now that I've given my opinion, if I were you, I would do some research on your specific car to find out if there are any items that typically need to be replaced in the first 6 years or so and see if that adds up to more than the cost of the warranty. I don't mean to make this harder for you, hon. I just don't want to see you lose any money! Hope this helps - good luck to you, and WAY TO GO getting a new car!!
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~*Amber*~
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Beth,
Congrats on the new car.  Course I wish the signing the loan papers, the new debt and all the other stress that comes along with big purchases didn't impact the IBS as much as it does. I hope that you are feeling better soon tummywise.
If you do find a money tree, let me know. I would be interested in getting some shoots to plant in my own yard. Might be a great time to get started in tree farming.
-Michelle
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Yes, congrats! I know car payments suck but most people need a car so not too many ways around car payments!
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Taking it one day at a time.....
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I can find that info out concerning ..."I would do some research on your specific car to find out if there are any items that typically need to be replaced in the first 6 years"? Plus, the car is already 4 years old so the warranty would cover it up to 8 years.
What is gap insurance and who do you get it from?
Sorry to hear you were in an accident to! They are very frightening. I slid right under a truck!
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~ Beth
Constipation, pain prodominent,cramps, spasms and bloat!
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Tommy???
#190177 - 06/29/05 11:01 AM
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Augie
Reged: 10/27/04
Posts: 5807
Loc: Illinois
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Can I have your opinion on the warranty issue? I know Tina said I could email you, but I didn't want to bother you...but now that your here....
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~ Beth
Constipation, pain prodominent,cramps, spasms and bloat!
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My hand was shaking the whole time I was signing the 5 year contract! I have to stop looking it as spending 1/2 my salary on a car...and just take it one month at a time.
You said the same thing as my mom...I need to get to work, I need to get to places...I need a car! No way to get around it. Just wish I had more money to "play around" with. Things are just so tight now...I have no idea where this extra money for the car is going to come from!
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~ Beth
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Heh!
#190180 - 06/29/05 11:05 AM
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Augie
Reged: 10/27/04
Posts: 5807
Loc: Illinois
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It's a deal! If I find a money tree growing...it's shoots all around!
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~ Beth
Constipation, pain prodominent,cramps, spasms and bloat!
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You can bother me anytime. Warranties are tricky when it comes to cars. On a used car, I think it is good to have one. That is my opinion. On new cars it is not worth it because they have standard 3 year warranties.
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Ruch! Thanks for your support, love!
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~ Beth
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I'm more confused. I guess only I can make the final decision, unfortunately. I hate, hate, making decisions, especially concerning money!
I do still have 1 year left on the original warranty. The additonal warranty would extend it to 4 years.
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~ Beth
Constipation, pain prodominent,cramps, spasms and bloat!
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about the Toyotas being so reliable...that's why I wanted one. My coworker said the reason I went with a more expensive make was in order to get around the repair thing in the first place....so why pay another extra 1000 to get more reassurance? She has a good point.
But I'm still unsure. I have such bad luck!
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~ Beth
Constipation, pain prodominent,cramps, spasms and bloat!
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but it worries me that you did need to use it. Hmmm. You say still wouldn't take it, heh? What exactly went wrong and how long after buying the car did it happen? How long was your warranty for and how old was the car when you bought it, Casey?
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~ Beth
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Thanks BL...
#190209 - 06/29/05 12:10 PM
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Augie
Reged: 10/27/04
Posts: 5807
Loc: Illinois
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but I bought it without having it checked out. I trust the people at the dealership did a good inspection on it already.
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~ Beth
Constipation, pain prodominent,cramps, spasms and bloat!
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Good thought
#190211 - 06/29/05 12:12 PM
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Augie
Reged: 10/27/04
Posts: 5807
Loc: Illinois
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but still can't afford a new car! Oh well....maybe one day I'll be the first to own my car!
What do you drive now Angela?
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~ Beth
Constipation, pain prodominent,cramps, spasms and bloat!
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We ALL have faith in you Beth *hugs* I'm glad you made decision...I'm so excited for you!!! Use it in good health
Love ya!
Ruch
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Formerly known as Ruchie
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Hi Beth! Congrats on your new car! I have a Toyota Echo and I love love love it... Toyotas are definitely great and very reliable.
Anyway, re: the warranty, I'm probably not the most knowledgable person to ask here, but before you turn it down (if it's not too late now...?) I'd do a touch of research. You can find lots of review sites and message boards on the internet on which people talk about what needed repairs etc... Often you'll see things like 'this model usually needs a new part X after about 5 years'... or something like that. That said, Camry's are really good, solid cars. My parents had one for years and years with hardly any repairs needed. Still, I'd say do a little bit of research. You'd hate to get stuck. Also look into the cost of likely repairs though - it might be the case that the repairs will cost you less than the warranty.
You slid under a truck?!? That's bizarre because that's almost exactly what I did with my brand new car  last xmas! It was a big honkin' pickup truck vs. my tiny little Echo. He stopped really abruptly at a light and I couldn't stop in time and - wham! - right into the back. But b/c of the size difference my hood went under the bumper. Which was probably good, because otherwise the whole front of the car would have probably been crunched, the windshield probably would have shattered and the airbags have gone off. Still, I paid through the nose for it in an insurance hike
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and I can put this all behind me.
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~ Beth
Constipation, pain prodominent,cramps, spasms and bloat!
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It was horrible. And it's hard to drive now that I have "accident post tramautic disorder". Everyone get away from me!
It's not too late for the warranty...yet. Today is the last day probably. Do you know of any specific websites? Did you use them before you bought your Echo? My coworker has one and loves it.
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~ Beth
Constipation, pain prodominent,cramps, spasms and bloat!
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I still don't know what I'll do...I don't know if i should rely on the disability insurance. It might make me more likely to "give up" on work too easily if I know my car payments will be made for me. Sort of like rewarding someone for going on disability. It's a bit too easy for me to give up, if that makes sense.
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~ Beth
Constipation, pain prodominent,cramps, spasms and bloat!
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Beth
#190264 - 06/29/05 01:32 PM
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Don't worry, I told Tommy you'd be asking him car stuff and he's fine with it!
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I know Tina
#190377 - 06/29/05 07:39 PM
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Augie
Reged: 10/27/04
Posts: 5807
Loc: Illinois
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but I still felt like a "burden". It's hard to ask for help without feeling like guilty. Blame it on my mom. She's good for a guilt trip, guarenteed. No warranty needed!
BTW, you never gave your opinion! I did take your opinion about that other car! It would have been a lot of extra stress! thanks!
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~ Beth
Constipation, pain prodominent,cramps, spasms and bloat!
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The best bet would be to check out reviews ... you can go to msn.com and select autos, then put in your year, make and model. Kelley Blue Book would work as well. If you go to google and search year, make and model you'll get a bunch of user reviews, from people who aren't likely to sugar-coat any problems the've had.
Gap insurance will cover my behind if I were to get into a major accident before the loan period is up. If the insurance company totalled out my car, and only gave me $6,000 for it but I still owe $13,000, then the gap insurance will make up for the difference. Because most loan companies figure that you won't continue to pay on your loan if you don't have the car anymore, and they will demand the balance of the loan right then and there. I bought the insurance from my dealership - I don't know if they provide it or if they are the middle-men 
My accident was on Friday the 13th - I took my new car back to the dealership the day before to have my new radio put in, and drove to work in my old beater. A girl pulled out in front of me and I couldn't stop ... Totalled both our cars. You're so right - accidents are scary!
Hope I've been of some help!
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~*Amber*~
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They won't go any lower in price on the warranties. I asked. They think it's a fair price.
I wasn't leaning towards the disability insurance much at all. But now I'm thinking about it more!
Are you saying that the disability insurance is a priority over the extended car warranty? Or that you think both are a good idea for total piece of mind?
I'm so confused and I know this guy is going to be calling me tomorrow for my final answer!
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~ Beth
Constipation, pain prodominent,cramps, spasms and bloat!
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I already took out the longest length loan they offer! I'm that broke!
At least I know the price is fair. Thanks for that. It's nice having someone "in the business" on the board!
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~ Beth
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Wow that's bizarre! I totally know what you mean about the post-accident trauma... I was SUCH a ridiculously cautious driver -- and nervous -- for months after. I'm really just getting over it now, which is great, almost 7 months later.
I bought my car new but MSN was the site I used mostly as well: web page - they have info on both new and used cars and lots of reviews. You could also just try googling the make/model/year and see if anything interesting comes up.
Best of luck! Whichever you choose, I'm sure things will work out well - you've already had your car trauma, right? (That's what I tell myself anyway...lol)
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You're NOT a burden, miss Bethie!
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Take the inusrance if it's only $9 a payment.
I would DEFINITELY get the extended warranty if you can afford it. But not if it's going to stretch your budget too much.
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Tina
#190572 - 06/30/05 10:39 AM
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Augie
Reged: 10/27/04
Posts: 5807
Loc: Illinois
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The extended warranty is an extra 17 dollars a month and the disability insurance is an additional extra 9 dollars a month (times each amount by 60 months!.
Still indecisive as time is up now! I don't know what to do. Money is tough...but so are potential repairs...No win situation. I keep thinking if I don't take the warranty...it's like taking 1000 bucks off the price of the car which was already 4000 dollars over what I wanted to pay...
But peace of mind is a big deal too.
I'm thinking about returning the car and ending this whole deal now. I am that stressed over it and my tummy is acting up...I can't relax and I need this to all just be over.
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~ Beth
Constipation, pain prodominent,cramps, spasms and bloat!
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~ Beth
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Bethie!
#190601 - 06/30/05 11:19 AM
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Ok Beth, here's what to do....
Get the extended warranty AND the insurance!!! It's WELL WORTH IT!!!!
Nope, you NEED a car, don't return it only to go through all this cr@p all over again.
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I understand why you feel pressure...when I bought my first car in 2001, it was scary. It was the largest "committment" I ever had made, and the biggest purchase ever. It made me really nervous. I was buying a Saturn, didn't get the extended warranty (my dad told me not to, and when it comes to cars, what he says goes!), and have never had a problem. I'll be paid off this fall!!
So...don't return the car. I still wouldn't get the extended warranty. And maybe sometime in the next 16 months, you can get a raise or a job that pays good!!
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Thanks
#190621 - 06/30/05 12:34 PM
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Augie
Reged: 10/27/04
Posts: 5807
Loc: Illinois
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I know everyone must be sick of this and thinking "why doesn't she just make a decision, it's not life and death here"!
But it is very scary to me because it is the most money I have ever spent on one item! It's half a years salary for me (no, I don't get paid much  ).
so, it's sort of ironic that I have to choose between paying for a warranty or paying for future repairs...either way, I'm out some money...which is something I don't want. I mean, no one wants to spend money on things like this, but for someone who has a limited income it's even more important to make the wisest decision concerning money.
BTW, was your Saturn new or used when you bought it? I'm glad you had no trouble with it and I hope you continue to have good luck with it! Cars are money pits! Insurance, gas, stickers, license plates, repairs...plus the cost of the car!
Anyhow, thanks to all of you for your patience. I know it's not the biggest problem in the world, but for me right now, it IS! i get really worked up and stressed out over both money and decisions...so put them both together and it's a double whammy!
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~ Beth
Constipation, pain prodominent,cramps, spasms and bloat!
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Beth
#190634 - 06/30/05 01:01 PM
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BL
Reged: 06/01/03
Posts: 3522
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It sounds like you will not sleep at night for worrying about whether you are going to have a problem with the car. If that's the case, then buy the warranty ----so it will ease your fears.
You gotta do what's best for YOU. If the warranty will give you peace of mind, then do that. Then you can relax and enjoy the car!
Most people who don't take advantage of a warranty are willing (and have the money) to pay for repairs IF they happen. If you don't have the cash to get you out of trouble later, then maybe the $7 a month would be great insurance for you!
Go for it----but whatever you do, don't look back and say, "I should've done this or that." You have to live with your decisions---that's part of being an adult. Life is full of choices we have to make---and there are no guarantees. Everything is a RISK. It just depends on whether you are willing to take on risk, or you want the security.
Sounds like you need security right now.
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Re: Beth
#190662 - 06/30/05 01:32 PM
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Augie
Reged: 10/27/04
Posts: 5807
Loc: Illinois
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BL, it's an extra 17 dollars a month for the warranty, and/or an extra 9 for the disability insurance if I want that. It's not that I won't sleep if I don't take it...I think it's just that I won't sleep until I make this decision. Who knows, maybe I do need the security of the warranty...but I need the thousand bucks too! I do wish there were money trees. Anyhow..I'll try to stop annoying everyone with this post now!
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~ Beth
Constipation, pain prodominent,cramps, spasms and bloat!
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Beth
#190678 - 06/30/05 02:04 PM
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BL
Reged: 06/01/03
Posts: 3522
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You gotta stop this going back and forth. You can't have it both ways! You can't have the money and the security of the warranty! You must decide WHICH one is more important to you.
(I know the money is important to you. We'd all like to hang on to that! But if these extras will help you relax about the car, then go for it----and don't turn back.)
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