Extended warranty - what's the point with already long coverage

Now that the warranty of key components has been extended in many states, what's the point of buying this?

It seems most critical drive parts (battery, gas/electric engine - emissions) are all covered already for an extended period (7-10 yrs+++) - with no deductible...

Am I missing something???

Only that there are also non-critical parts that might fail.

I just got hit with a $350 bill for replacing a front wheel bearing on my '04 Highlander. I paid ~$600 for the extended warranty from Troy so I'm still $250 behind but there's still another year left on the warranty.

I also had the AC compressor fail on my '05 Gen II. $1,300 so I'm $400 ahead on that one.

I'll probably get on for my '10 Gen III somewhere down the road.

The battery has the 100K mile warranty, not the engine. This car is full of electronic technology. There are a lot of things that can go wrong, even in a Toyota. I agree a 75K mile extended warranty is probably a waste of money, but the new warranty that goes to 125K miles gives a lot of worry free miles of enjoyment for many people.

Also, if you don't keep a car long term, the thoughts of selling a 3yo Prius with 3 to 4 more years of warranty would be a great selling feature.

1. The extended warranty gives peace of mind to those who worry about failures.
2. The extended warranty gives the dealer something to sell with a large profit margin.
3. The extended warranty gives Toyota something else to sell, to say is available, and to be proud of.
4. If the competition gets too bad, the extended warranty can be "included" in the sale to compensate for the competitions longer coverage.

Not true - at least in Carb states, and here in CA in particular.

15yrs / 150K miles for Emissions (except battery that is 10yrs/150K)

Emissions system is (among other things - ref pages 18/19 of warranty manual):
Air/fuel metering (fuel injection system)
Intake manifold
Catalytic system (from fuel filler neck to exhaust pipes, manifold etc)
Evaporative Controls (fuel tank, charcoal canister etc)
Hybrid system (generator, motor, inverter etc)
Ignition system (wires coils etc)
Other parts in systems (hoses,clamps, pulleys, belts, sensors etc)

Yes - that does not cover AC or wheel bearings - but it does seem somewhat comprehensive. Someone must have done a lot of research at Toyota to figure maintenance costs over that long a period...

Nice peace of mind to actually read what is covered...

OK, I misspoke. I meant Hybrid System components, not "just" the battery. However what is not covered (long term) then are components that are normally associated with an ICE only car. Engine being the main component, but really the only things I think that will justify the extended warranty woul be for all the things that can eat your lunch that don't aways last 125,000 miles (radio, AC, power accessories, transmission (eCVT), wiring, etc). There are a lot of things NOT covered long term by Toyota.


Limited Warranty Coverages:
Basic
36 months/36,000 miles (all components other than normal wear and maintenance items).

Powertrain
60 months/60,000 miles (engine, transmission/transaxle, front-wheel drive, rear-wheel drive, seatbelts and airbags).

Rust-Through
60 months/unlimited miles (corrosion perforation of sheet metal).

Emissions
Coverages vary under Federal and California regulations. Refer to applicable Owner's Warranty Information booklet for details.



Hybrid-Related Component Coverage
Hybrid-related components for hybrid vehicles are covered for 8 years/100,000 miles. The HV battery may have longer coverage under emissions warranty. Refer to applicable Owner's Warranty Information booklet for details.

I guess I am missing it - I thought motor/engine are together in a hybrid system. Hence I thought engine was also covered for 15yrs. It looks like you must be correct (???)...

In Canada you get 4 oil changes:rockon:, also will not need CAA for 3 years with a 7 year extended warranty

There are probably some details elsewhere, but I'm sure Toyota has distinct parts that are considered part of the hybrid system. Traditional components are still under the normal warranty. While an engine repair would be expensive, I still find that all the repairs I've had over the years involved accessories and were they not on warranty it would have been expensive. Most people just live without something when it breaks (like a $1200 DVD player). I've never kept a car long term, but I plan to force myself to keep the Prius and Highlander hybrids a long time, just to see if I can.