Toyota incentives may provide extra funds for extended car warranties
 Sometimes called an "extended warranty", a service contract is a promise to perform (or pay for) certain repairs or services. Although technically not a “warranty” as defined by federal law, service contracts may be arranged at any time and always costs extra. Warranties, on the other hand, ONLY come with a new car and are included in the original price. Vehicle service contracts are popularly referred to as "extended auto warranties" or "extended warranties". Use of the term "extended warranty" or "warranty" on this site is intended to refer to vehicle service contracts and not manufacturer's warranties.
The Japanese automobile maker Toyota has recently rolled out various incentives for customers to buy or lease their vehicles, which may convince some new car buyers to use their savings for extended car warranties.
The buyer incentive scheme stems from the voluntary recalls the company administered at the beginning of the year that were related to the accelerator pedal sticking in some models. This lead to cars on the road speeding up, seemingly for no reason.
There was also a separate recall involving the braking systems for other models. In response, Toyota president Akio Toyoda appeared before a Congressional committee and reiterated that the company was taking steps to look into the problem.
So far, there has not been a specific reported reason for the acceleration in some of the vehicles.
In an effort to retain, or attract, new customers, Toyota unveiled various incentives such as offering a 0 percent APR for five years and discounted car leases for certain models such as the Avalon and Tundra.
With the extra savings on some cars, it may convince some buyers to look into extended car warranties to provide more protection, as well as peace of mind.
3/5/2010 5:36:19 PM
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