Actually I've personally experienced two brand new cars that literally stopped running right out of the showroom (within 100 miles), but those problems were covered by the included warranty.Your point is well taken and yes every generation is more complex than the previous of course as with any car but I'll disagree as I think the past is relevant especially with the Camry as it relates to predicting the future. Any car could stop running right out of the showroom. But they don't'. The warranty company is betting you won't need it and they'll make money, you're betting you will and will save money. There are plenty of reasons these companies exist and one reason is because they don't have to pay out more than they collect. It turns this into the conversation of whether it makes sense financially which I won't do but extended warranties usually cover some aspects of repairs for 100-150,000 miles (for 2-$3000.00) depending on the provider and cost. Those are historically the most cost efficient miles for new cars and especially the Camry. That said, short of there being know issues with this car or any newer car the question remains the same; why consider one in the first place?
Of course there's profit with any kind of insurance and you have to consider the price of the insurance vs. the price of potentially needing the insurance. Technically a service contract isn't insurance but it's close enough.
For me one reason to buy insurance is that I don't want anything wrong with my car. Sometimes people will say their 100k mile car works "great!" Then you find out one of the windows doesn't roll up or down. The power side mirror won't operate in one direction, so you can move it in but have to move it back out manually. Three LEDs on the instrument panel are burned out. The analog temperature gage doesn't register any temperature. The car runs fine but the check-engine-light comes on intermittently. The button that opens the garage door is stuck in and doesn't work. The power lock on one door will lock but not open. The cruise control doesn't work. Of course someone will be along to say that anyone could fix all those things themselves using nothing but a nail file and duct tape. But some of us can't or don't want to, don't "have a guy", and the costs add up fast these days. Many people wouldn't have those things repaired, but some would want to.
Statistics: Posted by tibbitts — Sun Mar 31, 2024 12:37 pm — Replies 28 — Views 1598