Do I Buy an Extended Warranty ?

I'm waiting for for 2010 Prius and its my first one.
I plan to keep it for a while, what are thoughts on buying
an extended warranty thru Toyota, or what great experiences
does anyone have offer
THANKS

Just make sure if you decide to get one, get it from Prius Chat, you can save a lot of money over what the dealer will want for the same Toyota warranty. And remember, you have until the end of the factory warranty to get it.

OK, which companies did you recommend, & are they
easily accepted by Toyota dealerships ?

http://priuschat.com/forums/sponsor...rius-extended-warranty-service-contracts.html

Toyota Extra Care Platinum Warranty Price - $1055!
Please request more information using the quote request form at WarrantyShack.com from now on. The same price as always is available to PriusChat members, just be sure you include your PriusChat Username in the form for the special PriusChat pricing.

Toyota Extended Warranty Quote Request | WarrantyShack

Other plans available, please read below for more information and how to contact our PriusChat Warranty Representative.

Please read this entire opening post before asking any questions that may already be answered.


Many of our members are getting swindled by their local dealers over the price of the Toyota Extended Service Contract (Extended Warranty in layman's terms) so I decided to do something about it.

PriusChat is proud to announce that for a price of $1055, you can purchase the Toyota Extra Care Platinum warranty which will cover your car for a period of 7 years or 100,000 miles, whichever comes first.

The best part is this warranty has a $0 deductible. It also comes with Substitute Transportation coverage at $50/day for a max of 5 days per occurrence, free towing to the closest authorized repair facility, travel protection if the incident occurs more than 150 miles from your home and includes costs of meals and lodging reimbursed up to $100 per day for a maximum of five days over the life of the agreement, and transferability to another owner of your car for a fee of $50.

How much does it cost?
As stated previously, this great plan is available for $1055, almost $800 off the MSRP price of $1850

What does it cover?
You can see a full list of what is covered over on Toyota Financial Services website. It breaks down what is covered by each level of warranty coverage.

Is the Navigation/MFD covered?
* Yes - request a full list of covered and excluded items from our warranty rep if you would like to take a look at them.

I already bought my car, does that mean I can't get the Extended Service Contract?
*Nope, you can buy it as long as you are within the original warranty period - 3 years, 36k miles.

*Bought your car used? You are eligible for other service contracts

Interested in the Toyota Prepaid Maintenance Plans?

$875 for the 4 year/ 55,000 mile Premium Plan. MSRP $1355.

I'm interested, so how do I order it and get some of my questions solved?
Please go to WarrantyShack.com and fill out the quote request form here: Toyota Extended Warranty Quote Request | WarrantyShack

Soon we will have a way for you to contact a warranty rep directly through WarrantyShack.com so that you can feel free to ask any questions you may have, plus we'll have a Toyota representative will be available to answer your questions.

A quick note from PriusChat concerning using our offer as a way to "pricematch" with your dealer. Basically, please refrain from doing so. Telling your dealer about this offer could lead to higher prices in the very near future or completely pulling the deal from this site. Please read the message from Troy, our PriusChat Warranty Rep, below:

"...If anyone feels that they simply must give their dealer the chance to price match, at the very least, give us the courtesy of keeping us anonymous so you don't ruin it for everyone. Just tell them you have gotten a better price at another dealer, and leave it at that. Don't give them a copy of this thread or one of my emails with all the info they need to go crying to their factory reps about how much money they lost because of us."

I assure you, Toyota would not be upset, but would be proud that you are helping to sell more warrantys for them.
As a Toyota salesman, I suggest that you buy the warranty and ensure that any defects are fixed quickly and done by a dealer. If you roll the warranty into your financing, you'll pay an extra $20/ month and have zero out of pocket costs should a problem arise.

I own an '06 Corolla, my parents have a Camry Hybrid, my sister drives a Sequoia. I sold 'em all and had them all purchase a warranty.

Have your dealer match the price here and buy the warranty!

You should never buy an extended warranty on any product. Take the $1000 you would spend on a Prius warranty and put it in the bank. Then if the Prius breaks you can use that money (plus interest) to fix the Prius. Likewise if your stove breaks you will have money to fix that or any other thing that might break or need to be replaced.

Extended warranties are a huge cash cow for companies and they prey on your fear and lack of savings to sell them. I know, I have been responsible for setting up factory extended warranty programs. (I bought an extended warranty from our factory suppliers for $20 and then sold this to customers for $999)

AS I understand, you can purchase the warranty anytime, as long as the car is still under the 3 year or 36000 mile original warranty. I plan on waiting until I decide if I will keep the car for longer then the warranty or trade the 2010 in for the plug-in.

To be very blunt, if someone doesn't have the cash available to fix their car they shouldn't be buying a new car. They should buy a $5000 used Civic or Corolla and get their financial house in order. Anyone that doesn't have an emergency fund to handle these kinds of situations is simply tempting fate.

Extended warranties are never a reasonable purchase because statistically they pay out so little compared to how much they cost.

Ok, Forgive me if this is repetative but is this Toyota warranty for the Prius only or can you sell the one for the Camry Hybrid too. Because of the fantastic deal I'm being offered I'm considering purchasing a 09 Camry hybrid instead of holding out for the 2010 Prius I so dearly wanted. Thanks in advance, Rick

The argument that extended warranties are not a "reasonable" purchase is not always true. They are in many ways like an insurance policy of limited duration. Sometimes worth getting, sometimes not.

Let's say that you save the $1055 and put it in the bank. Or invest it in the stock market (hahahaha). Sure, at the end of seven years you would be out that money if you had no expensive covered repairs during the warranty coverage. But how about if your CVT, inverter, ECUs,etc. should go out during that period? You'd be out for a much larger amount, more than you'd ever be able to gain by "investing" the $1055.

It's the same principle behind homeowner's insurance. Using JSH's logic, no one should own a house who cannot afford to pay for all unexpected damages "out of pocket".

If I were getting a 2010, I'd buy the warranty. It'd be about the same cost as one year of my auto insurance.

Oh wait...I probably shouldn't buy auto insurance either! If I can't afford to replace the car out of pocket, or if I can't afford to be sued, then I shouldn't drive at all. .

When you buy a brand new car, don't you typically have until just before the factory warranty runs out to purchase the extended warranty?

That is how it was with my Jeep Wrangler (good riddance!)

When I bought my used G35x I opted for the extended warranty because the factory warranty was just about up...and it's come in handy a whole bunch!

Okay. . . when purchasing the warranty from Warranty Shack I understand I am buying a warranty my local Toyota dealer must accept as genuine. If I buy from Warranty Shack and have a problem with my Prius do I just bring in the paper work showing I have purchased an authentic warranty my Toyota dealer must honor? Essentially how does my dealer know I have a valid Toyota warranty? Do I have pay up front cost on a repair then submit a claim to Warranty Shack? Who submits the claim me or the Toyota dealership?

I'm curious, if you post this on a website like PriusChat for the whole world to see, don't you think, perhaps even by accident that dealers will eventually know you're selling these???

Well it's a good thing I had homeowners insurance when that ice storm hit and caused several trees to crash onto my roof essentially destroying the roof.
That's not really what I'd consider a warranty issue. It cracked walls on the other side of the house almost broke the main beam. I think homeowners insurance is closer to auto insurance.
I'd certainly never drive my car without it.
But extended warranty repairs are worth it only if you own a fussy exotic or a POS like a Chevy Vega or a Ford Pinto type of car that's always broken. If for example I had bought a MINI instead I most certainly would have opted for the extended warranty. One small repair out of warranty on a MINI or BMW can run into serious money. Toyota not as much and they tend to break less.

The Prius extended warranty in the equivalent to the offers I get to buy "Home System Warranties" for my house. For only $36 a month they will sell me a warranty that will fix my hot water heater, heat pump, etc IF it breaks. So if I pay them $432 a year they will fix my $300 water heater that has a useful life of 20 years.

Auto insurance is the equivalent of home owners or renters insurance. It covers the lost of a major asset and provides me with hundreds of thousands of dollars in liability protection.

Home, Auto, Life, and Disability insurance are good buys. They are all very inexpensive for the amount of coverage they give me. (500:1)

On the other hand extended warranties are very expensive for the very limited coverage they offer. (20:1)

+1
I agree, in fact I think that's what I was saying
Although the Prius is a technological marvel it also has a lot of electronics that can go wonky. That is a reason I *might* consider the extended warranty but only after a year or two of owning the car.