So I'm Getting A Brand New RAV4 Hybrid Soon, And I'm Wondering If The Extended Warranty Is Worth It? ―This Happened to Me, and Here is What I Did But Wished I Had Done

I am a new Rav4 Hybrid owner, and after the negotiations, I agreed to an extended warranty, which is something I never do. Ever. Until now. Even 9,642 miles later, I still question why I did it. Fortunately, there is some comfort in knowing that I am not alone, as recently revealed in a Reddit r/Rav4 forum thread following the question, "So I'm Getting A Brand New RAV4 Hybrid Soon, And I'm Wondering If The Extended Warranty Is Worth It?"

The Extended Warranty Kneejerk Response

Ruminating over my extended warranty misgivings, I finally concluded that I am guilty of wholesale extended warranty rejection decision making. A combination of too much reliance on internet anti-extended warranty views and the semi-justified paranoia that if any business offers something on top of a sale―it is more for them than it is for you.

To be fair, however, I also have a tendency to repair (or at least try to repair) anything that breaks in our home. I also have the tendency to be the person who did the breaking.

My point is that sometimes, we are too quick to reject extended warranties without accurate justification.

Justified Extended Warranty Considerations

This, "too quick to reject," came to my attention after reading a social media post asking for advice on whether it is worth paying more for the extended warranty offered after the selling price negotiations are finalized.

If you follow the thread, it is nearly a split decision amongst the respondents.

However, one post response offered a particularly intelligent view of their answer to the question:

There are 3 points worth considering:

1. The new Rav4-extended warranty owner has plans to pass on their Rav4 Hybrid to their daughter.
2. The new Rav4-extended warranty owner rightfully expects parts and labor to increase beyond a nearly $ 200-hour labor rate.
3. The new Rav4-extended warranty owner was approached AFTER the sale price negotiations were completed.

Worth considering, in my opinion, because…well…buying a Rav4 Hybrid was our situation as well:

Firstly, my spouse and I hang onto our vehicles on average for at least 8 years, well past their warranty protection. After that, we generally pass the vehicle onto our children if the time and economics are right where a used (well cared for and maintained) family car is a better deal for them, and it encourages us to move on and buy a new vehicle.

Secondly, historically, I have done all the maintenance and repairs on the family car. I do this to save on labor and parts costs and because I enjoy it. However, when it comes to the electronic side of car repairs, the move to hybrid is beyond my skill set and experience, and I realize I will have to bow out and let someone else have the repair pleasure.

Thirdly, when we decided on and completed the sales negotiation for our Rav4 Hybrid last year, we were approached near the goal post with the extended warranty option. D'Oh!

In short, despite my aversion to any extended warranty offers, a quick "yes" to the extended warranty option was reached because I knew that if we do not keep this Rav4 forever and will likely pass it on to a family member, we will want it to be in the best running condition possible for them. Frankly, I am unsure if I am young enough to upgrade my skill set to include the complexity of today's electronic vehicles.

You Should Beat The Toyota Dealership Salesman To Bringing Up The Extended Warranty

The lesson I learned from this thread was that I should have brought up the extended warranty as part of the sales negotiation. As pointed out in other thread responses, doing so is a missed opportunity to get an even better deal. When it comes to cars, everything is negotiable, but you have to do it before the deal is done. That is why the salesman always brings it up AFTER an agreement is reached.

In Conclusion: While for the most part if you are buying a Toyota Rav4 model and have no expectations of hanging onto it beyond its warranty or giving it away to a family member, then you are likely better off not spending more for an extended warranty.

However, if your situation is more like the recommendation of what one comment showed, then it is not such a bad deal for that added insurance and peace of mind.

What are your thoughts and experiences concerning extended warranties on cars? Was I mistaken about my misgivings and resolution toward having paid extra for an extended warranty? Feel free to share your stories in the comments below.

For additional articles related to Toyota Rav4 ownership, here are three recommendations for your consideration:

1. Calculate the Toyota RAV4 Hybrid Cost Against the Non-Hybrid RAV4
2. Toyota Rav4 Maintenance on the Cheap
3. Toyota RAV4 Full Review and Common Problems Update

Timothy Boyer is an automotive reporter based in Cincinnati who currently researches and works on restoring older vehicles with engine modifications for improved performance. He also reports on modern cars (including EVs) with a focus on DIY mechanics, buying and using tools, and other related topical automotive repair news. Follow Tim on Twitter at @TimBoyerWrites as well as on Facebook and his automotive blog "Zen and the Art of DIY Car Repair" for useful daily news and topics related to new and used cars and trucks.

COMING UP NEXT: Cybertruck Stainless Panels Are Falling Off...Is This A New Phenomena Asks This CT Owner

Image Source: Deposit Photos