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Purchasing used 2011 Prius 3, is it worth buying the Platinum 3 yr service?

Discussion in 'Gen 3 Prius Care, Maintenance & Troubleshooting' started by Goatmother, Feb 26, 2015.

  1. Goatmother

    Goatmother Junior Member

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    I am looking at a 2011 Prius 3 with all those electronics. The dealer really recommends adding the 3yr/50,000mi Platinum warranty coverage. That adds an additional $26. a month to 60 months of payments. The car only has 45,500 miles on it but it is not certified. Is it worth the extra money? It seems from most chat that these cars easily go for ten years with no problems. I just have had so much bad luck with repair expenses on older used cars than this one.
     
  2. mrbigh

    mrbigh Prius Absolutum Dominium

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    If the vehicle is brand new, do not even think to sign the extra warranty papers.
    Anyone can by the extended warranty before the actual warranty of the vehicle expires.
    If this will be a used Certified one and depending the quantity of miles on it, you should think forking the money for it.
     
  3. Okinawa

    Okinawa Senior Member

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    Just my opinion. I would not buy the warranty.
     
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  4. matt b.

    matt b. Member

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    I wouldn't do it, not verified, god knows what else. I would not do the extended warranty no matter what! but if the price is right being around 14 K then I would think about buying it, but I would also want to see all the maintenance records. good luck.
     
  5. Goatmother

    Goatmother Junior Member

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    BTW, I forgot to mention, the car was a trade-in, originally purchased at the dealership, so they know the maintenance.
     
  6. PriusGuy32

    PriusGuy32 Prius Driver Extraordinaire

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    For the love of everything holy, do not buy that warranty!!
     
  7. bisco

    bisco cookie crumbler

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  8. Goatmother

    Goatmother Junior Member

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    Could you please tell my why you are so adamant about not buying the warranty? Is it just not necessary? The dealership says that if any of the electronics go bad (back up camera, navigation, screen, etc.) it could be very expensive.
    thanks.
     
  9. Goatmother

    Goatmother Junior Member

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    Please elaborate. Do you mean paying for a warranty is a scam because there is no possibility of needing that amount of expense in repairs in the next three years? Are Prii that faultless and reliable?
    THANKS.
     
  10. bisco

    bisco cookie crumbler

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    the warranty is a scam and won't cover what they say it will, as well as the fact that the 'electronics' rarely go bad. have you read the warranty and do you understand it, or are you relying on a dealers word?
     
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  11. PriusGuy32

    PriusGuy32 Prius Driver Extraordinaire

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    An extended warranty is really not necessary with the Prius. It is a huge money maker for the dealership, so they have a very strong interest to talk you into it. Of course they are going to tell you repairs are very expensive, and their $1600 warranty (whats the deductible anyways) is the best solution. But what they wont tell you, is when its time to make a warranty claim, it is the warranty companies JOB to try and NOT pay for the claim. They wouldnt be in business if they paid out every claim. Just put the extra $26/month aside in a rainy day fund. Unless you are hellbent on making the dealerships owner yacht payment this month. (n)

    And all those things the dealer listed as "expensive" electronics that could go bad, a.) never (super super rarely) ever go bad, and b.) you can replace yourself for cheap anyways, even if they DID go bad (which I am willing to bet my first born child they WONT).
     
    #11 PriusGuy32, Feb 27, 2015
    Last edited: Feb 27, 2015
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  12. Goatmother

    Goatmother Junior Member

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    No, I always read everything. The "Platinum Coverage" lists everything that is covered and what is not covered. What isn't covered is basically wear and tear items like brakes, etc.
     
  13. The Electric Me

    The Electric Me Go Speed Go!

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    Here's my question.

    You say this is NOT a Certified Used Vehicle?

    Well, from what I've read about Toyota's certified used hybrid program this vehicle SHOULD qualify to be one. Unless it has had an accident in it's past. Check the Carfax, and make sure there isn't a reason this vehicle is being kept from being certified.

    The feedback as far as extended warranties is nearly always "Not Worth It, don't do it".

    I'm not as adamant against warranties, I think they can be worth it, if only from the perspective of offering a greater peace of mind with ownership. My only statement, would be know exactly what you are paying for, in terms of exactly what he warranty will cover and for how long. Then if you still want it? Go for it.

    Yes, Prius by reputation are well built vehicles and conceivably can go numerous years without a major break down. BUT they are machines, and nobody can really guarantee reliability. So then it comes down to "gambling" on reliability, vs. paying for a degree of peace of mind. As long as you know exactly how much you are paying and exactly what you are getting I say the decision is yours.

    I personally have never paid for an extended warranty on any vehicle I have purchased. But I don't necessarily inflict this approach or philosophy on others. I think the value or lack of value in a warranty can be very subjective to the individual.
     
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  14. PriusGuy32

    PriusGuy32 Prius Driver Extraordinaire

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    For every time a member here buys a warranty, I pinch my grandmother really, really hard. Then, I tell her it was ____________ from Priuschat that made me do it. She wants me to let you know that she is getting tired of people buying warranties that they dont need.
     
    #14 PriusGuy32, Feb 27, 2015
    Last edited: Feb 27, 2015
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  15. Okinawa

    Okinawa Senior Member

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    I traded in a 2011 Prius Two with 48,000 miles on it at a Toyota dealer. The dealer listed the car as "Certified".
     
  16. PriusGuy32

    PriusGuy32 Prius Driver Extraordinaire

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    After my most recent Prius purchase, I was told that some dealers certify them, and some dont bother at all.

    The Toyota Dealer that is close to my house certifies some. The one thats a few more miles away, never certifies any. The one that I just bought my 2012 from, certifies almost all of them.

    However, if its NOT certified but meets the requirements, I do not see how this cannot be leveled during the negotiations. After all, the dealer offered to "remove" the certified pre-owned part of my deal, and knock the price down $750. I declined, and kept it Toyota hybrid-certified.
     
  17. The Electric Me

    The Electric Me Go Speed Go!

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    I think it's true that some Toyota dealers are "Certified" used Toyota dealers, and others are not. And/Or it can up to the dealership whether they want to offer that qualification on the vehicle.

    But in any case, I'd want to check the Carfax before purchasing and make sure there isn't some as of yet, unknown reason why it isn't being offered as a Certified Used Toyota...even if it is simply because The Dealership doesn't deal that way.
     
  18. JimN

    JimN Let the games begin!

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    The window of opportunity for buying Toyota's extended warranty closed when the car went over 36000 miles or became 3 years old.

    IMO, it is a scam if the dealer is trying to sell you Toyota's warranty. If they are selling a third party warranty and referring to it as Toyota's Platinum Warranty then it's fraud. If they are leading you to believe a third party warranty is just as good as Toyota's then you really need to compare the two policies to determine if that is true.

    If the extended warranty is such a good deal then why are they offering to sell it to you?

    A five year loan on a four year old car isn't the smartest of moves. Borrowing more money to pay for an extended warranty makes less sense.

    How much is that car selling for compared to a new Two or Three? Around here a new Three is $23219. It sounds like you'd be better off buying new while they are sitting on the lots.
     
  19. bisco

    bisco cookie crumbler

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    if you've read it, understand it and like it, i would buy it. it's only 26 bucks a month for peace of mind.
     
  20. Goatmother

    Goatmother Junior Member

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    Ummm, yeah, would love to. My son points out for just $X more you could have a new one, but it's a stretch to afford payments on the used. And yeah, 5 years to pay off a 4 yr old car doesn't make much sense either, except can't afford higher payments for fewer years. Hey, maybe I should just lease, it's cheaper.