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Is this extended factory warranty worth buying?

Thump553

Thump553

Lifer
We are buying a new Toyota Prius for my wife, picking up the car tomorrow. The car comes with a 3 year/36,000 basic warranty, 5 years/60,000 power train warranty/8 years/100,000 miles on hybrid components.

The dealer is offering me a Toyota extended warranty extending everything to 7 years/100,000 miles, $0 deductible, transferable (once), with various other benefits like free towing to a dealer, etc. for $1850 payable over 36 months, no interest.

Is this a good deal? Dealing with a hybrid I'm a bit leery of repair costs and availabilty so I'm inclined to go this route. We tend to keep cars until they are junked.
 
IMHO, it's not worth it. As you said, the worry spots are already covered for a longer time period and the same amount of miles.
 
Considering the hybrid components are already warrantied for 8 years, $1850 to cover the other two for a couple more years is not worth it. Put that money in the bank and keep it for unlikely, but possible, repairs.
 
Got to agree with the others. No sense in putting money in one of the most reliable cars on the road. By the way..........good choice! :thumbsup:
 
Just an FYI....

All extended Warranties are negotiable. So if you want the peace of mind, offer them half of what they are asking, and see if they bite. Also you can always opt to buy one later down the road. You don't have to buy at the time of purchase.

Personally I don't think you need to worry about an extended on a Prius.
 
I am currently paying $10 a month for a 6year/100,000 bumper to bumper warranty on my 2006 corolla, $1850 is wayyy to much
 
Unless it is very cheap, or has a pay back balance policy, then the only thing worth getting an extended warranty on is a laptop (or buy it with an AMEX).
 
I think it was late 90s, there was a TV show either 20/20 or something like that discussing about "extended warranty" is basically all useless when purchasing a new car.

I guess, I should share my little funny story about "extended warranty".
I knew sales person were going to sell me the extended warranty on my previous car purchased.
So I bought a tape recorder w/ me.
So I ask the manager if he can state his name and title and explain to me what is "extended warranty" and "what is covered" instead of sales person.

At first, I simply have the recorder in my pocket running and when he was all over about "it is the win win situation", then I kindly asked him to "stop" after 15 min of brillant speech.

"wait!, sorry, I need to change my tape so I can record what's you said about warranty and what is covered."

He stared right at my voice recorder for like big 5 seconds...and he change his tone.
"actually, come to think of it, our car has excellent reliability record, you might not really need it.... and on and on as if decided to talk me out of it".

Needless to say, I didn't buy it and I can see his face turning greeeeeeeen.



 
Not worth it. The "trouble bits" already have a huge warranty. Considering that Priuses in taxi fleets are still knocking around with >200,000 miles on them, it seems hard to believe that yours will croak as soon as the stock warranty expires.

Originally posted by: TimeKeeper
I guess, I should share my little funny story about "extended warranty".
I knew sales person were going to sell me the extended warranty on my previous car purchased.
So I bought a tape recorder w/ me.
So I ask the manager if he can state his name and title and explain to me what is "extended warranty" and "what is covered" instead of sales person.

At first, I simply have the recorder in my pocket running and when he was all over about "it is the win win situation", then I kindly asked him to "stop" after 15 min of brillant speech.

"wait!, sorry, I need to change my tape so I can record what's you said about warranty and what is covered."

He stared right at my voice recorder for like big 5 seconds...and he change his tone.
"actually, come to think of it, our car has excellent reliability record, you might not really need it.... and on and on as if decided to talk me out of it".

Needless to say, I didn't buy it and I can see his face turning greeeeeeeen.
Click to expand...

Might not be legally binding in every state, but it's funny...
 
jagec

Might not be legally binding in every state, but it's funny...
Click to expand...

I should said, I was just been a big jerk. 😛
I know I wasn't going to buy it, just that I usually have hard time turn down a sales person, knowing they can make extra out of extented warranty. (I heard their base salary wasn't good at all)

I figure next time, I will ask if I can record our conversation first, before they get too excited. And I will ask the manager to walk w/ me around the car and tell me "what is NOT cover".
 
1850 is not bad. If you plan on selling the car later on, selling it with a full warranty will make it much easier to sell later on. My dad does this on all his cars and nearly every time he sells ones, something major breaks after it's sold. Luckily he doesn't have to worry about it, since the extended warranty covers it. So if you intend on selling it, you can command a higher price and have less worry later on.
 
Thanks for all the responses. I checked around online and found the same rebate sold for less than a thousand (thanks for making me realize these were negotiable, MiataNC) but I think I won't bother to get one-at least for now.
 
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