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Should I buy the Toyota extended warranty?

Discussion in 'Gen II Prius Main Forum' started by gupchurch1349, Nov 11, 2006.

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  1. gupchurch1349

    gupchurch1349 New Member

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    I picked up my new Prius today. When should I buy the Toyota extended warranty? Is it a good buy for the money? Has any one had problems using this warranty? Also, does any one know of any other company that offers a better deal or is this the best one? Any details one could provide is greatly appreciated.

    Thanks
    Upchurch, Kentucky
  2. Alnilam

    Alnilam The One in the Middle

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    <div class='quotetop'>QUOTE(gupchurch1349 @ Nov 11 2006, 02:10 PM) [snapback]347565[/snapback]</div>

    Yes, you should get it. The Prius has too much magic for something not to go wrong and the parts are expensive.

    Get it before 36,000 miles. But if you wait until then, you take a chance of the price going up and lose the towing/substitute car provisions during your uncovered period.

    Get it from Troy, on-line here, for just a shade under $1,000 for the 7yr/100,000 mile/$0 deductible package direct from Toyota. Nobody else beats this.

    Just my opinion. The dealer wanted to charge me $2,300 for a much diminished warranty.
  3. Starfall

    Starfall New Member

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    <div class='quotetop'>QUOTE(Alnilam @ Nov 11 2006, 06:26 PM) [snapback]347568[/snapback]</div>

    Totally agree with you, Alnilam.

    Troy's "Extended Warranty" (a genuine Toyota Warranty - same as you would purchase from your dealer, which comes directly FROM Toyota) is a lot less. At least it was for me.

    Saved me a lot of money for exactly the same thing.

    At least read the posts about it.
  4. Gen2

    Gen2 New Member

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    Having grown up in an automotive family I knew that most factory extended warrranties really don't cover everything the way that we think think that it does, so I went with a mechanical breakdown insurance policy for my Prius and I sleep better for it. These policies also cover wear and tear whch the factory warrantoes definitely do not, so they are a better deal.

    http://www.warrantydirect.com/
  5. erogla

    erogla New Member

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    if you plan on keeping the car more than 3 years , yes get it.
  6. Allannde

    Allannde Just a Senior

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    <div class='quotetop'>QUOTE(Gen2 @ Nov 24 2006, 10:57 PM) [snapback]353876[/snapback]</div>

    The Toyota Platinum extended warranty is just the same as the one which came with your car. Look these other warranties over very carefully. The MFD and other electronic components of the Prius are not yet common and can be quite expensive if they need to be replaced. The reason for having this protection is to be covered and if it turns out that you are not, it is BAD NEWS.

    If the coverage is there, great.
  7. galaxee

    galaxee mostly benevolent

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    at the very least, it will probably increase the resale value of your car should you decide to sell a couple of years after the initial warranty runs out.

    and if it helps you sleep better at night, by all means go for it.
  8. Beryl Octet

    Beryl Octet New Member

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    <div class='quotetop'>QUOTE(Gen2 @ Nov 25 2006, 01:57 AM) [snapback]353876[/snapback]</div>

    I'd probably look into this site harder, but any site that requires a phone number/email addr before giving out any details on the warranty coverage screams spamming scam to me.
  9. tumbleweed

    tumbleweed Senior Member

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    If you are going to buy one by all means get it here. The real question is do you need it? As Galaxee said if it helps you sleep better then get it, a good nights sleep is worth a lot.

    On the other hand some of us sleep just fine without one. If you can afford to fix whatever breaks without causing difficulties for yourself then maybe you would save money by not buying it. I have never bought an extended warranty on anything and I think that has saved me enough, over the years to fix anything that breaks. Another thing to consider is how long you will keep the car, it may make your car worth a bit more to someone but not a $1000 more. So if you are going to get rid of the car before 3 years, 36K miles don't buy one.

    If, however, you plan on keeping the car for a while and have had maintenance problems with other vehicles, or just want peace of mind maybe you should get it. Of course an extra $1000 in your IRA or 401K might give some peace of mind also.
  10. aaf709

    aaf709 Ravenpaw of ThunderClan

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    <div class='quotetop'>QUOTE(Gen2 @ Nov 24 2006, 10:57 PM) [snapback]353876[/snapback]</div>

    I got a quote, but it costs more than the Extended (Lowest level 5 year/100K with $100 deductible is closest at $996). Still, it's an option.

    It's a crap shoot in any case. I got an extended warranty for my camcorder and never used it. I got an extended warranty for my refrigerator and used it. I got a third-party extended warranty for my last car, which was useless (it turns out the person I gave the money to neglected to set up the policy).

    At the moment I'm planning to get it. It's really up to you.
  11. Allannde

    Allannde Just a Senior

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    <div class='quotetop'>QUOTE(tumbleweed @ Nov 28 2006, 12:25 PM) [snapback]354911[/snapback]</div>

    tumbleweed is correct. It is a gamble. You could loose either way.

    How much of a gamble? Well, the best measure is the cost of the extended warranty. You can be sure that the income from that covers the outgo for repairs. The odds of a Prius needing a major repair are fairly low. That suggests it might be wise not to get the extended warranty. However, if major repair is needed, the cost can be quite high, like many thousands of dollars. I bought the extended warranty with the full knowlege that I may never use it. Troy Deitrich is a fine person to deal with and the price is right.

    Where is your comfort zone?
  12. Paul R. Haller

    Paul R. Haller Member

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    I have read and now subscribe to a policy that makes me sleep better at night. I take the money the insurance would have cost and put it in a high yeald account. Then if you need someting fixed you have the money. If you don't need something fixed you have even more money.
    -Paul R. Haller- :lol: :lol:
  13. skruse

    skruse Senior Member

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    Generally, Consumer Reports and others advise to NOT obtain extended warrantees. I had one on my 2005 and will get one for my 2007 (as soon as the certificate of ownership arrives). I plan to have the vehicle for at least 10 to 15 years. Just good insurance.
  14. mcbrunnhilde

    mcbrunnhilde Opera singin' Prius nut!

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    I got my extended warranty through Troy for 2 main reasons:

    1. 2004 was the first year of the redesign (EVERY redesign has more problems than subsequent years).

    2. The known MFD failure, and my VIN was part of that TSB. Yes, I know that some people have gotten it covered even when they were out of warranty, but I didn't know how long that concession would last.

    If I had a 2006 or 2007, I probably would not have gotten the extended warranty.

    I got my warranty when I had over 35,000 miles on it. I waited until the last minute in case my MFD went out before the basic warranty was up. Had I already had the MFD replaced, I probably wouldn't have gotten the extended warranty.

    BTW Consumer Reports DOES recommend extended (or screen) warranties on laptop computers because that's a very expensive part to fix.
  15. JackDodge

    JackDodge Gold Member

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    <div class='quotetop'>QUOTE(skruse @ Nov 28 2006, 07:04 PM) [snapback]355023[/snapback]</div>

    They recommend getting an extended warranty for certain products. Laptops, for example. I got an extended warranty for a rear projection TV several years ago for $400 and actually used it last year. The repairman said that without the warranty the repair would have cost $400 :lol: so that one was probably a mistake and I don't get a lot of them.
  16. dachshund

    dachshund New Member

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    Watch out for dealers charging $2K for the warranty. Of the two dealers near me, one was charging $2K, the other charged $1K. Pretty incredible.
  17. Smoke

    Smoke New Member

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    I was ambivalent about buying the extended warranty for the Prius. I typically don't buy them, but then again, I don't typically invest as much in a car as I did for the Prius. I had planned to investigate the issue when the regular warranty was ready to expire (as I had learned with the other car I would be given many opportunities to do), but the guy who did my paperwork at the credit union talked me into it. Well, he didn't really talk very hard--I was kind of used to the credit union looking out for me. After all, they sold me very reasonable gap insurance. (And I was so proud of myself for leaving the dealership paying exactly what we agreed I would pay, without even talking to them about the extended warranty.)

    But when the paperwork arrived on my extended warranty--it was from a company called Old Republic Extended Protection Plan. It's a Gold Plan, purchased at $756.00, good for 7 years or 75K miles. The credit union guy said the point was to cover the car at least through the period of financing.

    Did I make a mistake somewhere? If so, can I fix it?
  18. Walker1

    Walker1 Empire

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    <div class='quotetop'>QUOTE(gupchurch1349 @ Nov 11 2006, 05:10 PM) [snapback]347565[/snapback]</div>

    I bought the Toyota Platnum extended from Troy. No deductibles, I believe it's for 7 years/100,000 miles bumper to bumper. I bought the warranty after 6 months because I didn't have the money in the beginning. I bought piece of mind and plan to keep my '06 for an indefinate time. on Jan. 10th I will have my '06 for 1 year. If you wait 2 or 3 years the price probably be alot more than $990. It's up to you. I do know that prius's have some very expensive parts in them as they are very different fron regular cars. Hope this helps. The guy we buy from is extremely reputable and many members buy from him. Enjoy your new Prius. I think all of us like them or we wouldn't keep them for long. I intend to buy a 2nd Prius when I can get enough money. Happy motoring!
  19. IsrAmeriPrius

    IsrAmeriPrius Progressive Member

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    <div class='quotetop'>QUOTE(Smoke @ Jan 3 2007, 05:10 PM) [snapback]370445[/snapback]</div>

    OK, I looked up the contract and I don't like the following clauses:



    There is way too much wiggle room to avoid paying for repairs, components which are covered by the Toyota extended warranty, such as the audio and Bluetooth systems, are not covered, but # 17 is the clincher: Hybrids are NOT covered.

    Troy sells a genuine Toyota warranty for the same number of years and miles, with no deductible, for only a few dollars more than you paid for a warranty that specifically excludes your car.
  20. hill

    hill High Fiber Member

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    <div class='quotetop'>QUOTE(erogla @ Nov 28 2006, 02:08 PM) [snapback]354845[/snapback]</div>

    Yes, get it. Get it even if you DON'T keep the car long because it's a great selling feature, as well as the rest of the car's great features. We bought a NON-Toyota / bumper to bumper warranty ... and got an equally great price. We've used it a few times already and thus it's already paid for itself. You will find the warrantys have been talked about a ton on other threads, too.
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