Extended warranty question

If battery is your main concern then it'll depend on how old and when you expect to reach 150,000 miles. You don't 'need' extended coverage on battery because, in Los Angles, California you've already got 10 years or 150,000. 2008, you're cup is half empty, while your dinner is hardly served.

rather, what's the premium to go 200,000 miles warranty is where I'd be looking.

 

That's not a question you can poll as there are too many variables, the bottom line is: If it's affordable in your budget and you're planning on owning the car for as many years as it'll cover, or miles minus years, do it.. And or also make sure it's transferable too, and is it or, not a second party insurer verse Toyota and I aint talking "affordable" by causing your visa card to increase where you're paying danged interest rates forever too. "Affordable" to me is, cash and carry, or pay wit Visa because I pay the full bill at end of month. Visa and master, paypunk too all hate me cause, I've never paid em interest or late fees. their lucky to be getting the 3% kick back from a seller. (grin)

Todays affordability, insuring against tomorrow's hardship. Place your bets, keeping in mind the house, (Insurer) usually wins.

 

Put that 1900.00 in an interest bearing account for a rainy day repair. You are in a carb state so you have a 10yr/150,000 mi warranty. My 2005 Prius over 230,000 miles and running fine. No battery problems evident. Only repairs were wear and tear items and of course, the combination meter which was covered under an "enhanced warranty". All the best.

 

The extended warranty is like a casino, a very few win big, a few break even but the vast majority lose big.

Extended warranties pay out somewhere on the order of 35% of the premium in repair costs according to Consumer Reports, the rest is eaten up in administration, commissions and profit. The insurance company knows the odds and isn't selling to lose money.

If you have the discipline to save the money against the chance that the car judged most likely to get to 200k with minimal problems might have one, then the odds are you'll come out ahead.

But if it makes you sleep better knowing you have some coverage, then by all means. If you do:

- Know the company that issues the insurance (what a extended warranty is) and its financial stability and corporate structure. Will it be there to pay if you need it?

- Read the contract, not the sales literature.

 

some non factory extended warranties are worthless and when you need it they'll weasel out. putting the money in the bank is a better idea. do all your scheduled maintenance and check oil level regularly and you most likely won't need the warranty anyway.

 

I vote NO!

I bet that extended warranty clause EXCLUDES the HV Battery, b/c it will likely be considered a "wear and tear," item. If the HV Battery is covered, I bet they will replace it with the cheapest one available, meaning used/refurbished/rebuilt.

$1900 policy premium, to get a few more years/miles. What's the deductible?
$1900 policy + $deductible = ??? Maybe $2500?

A NEW Toyota HV Battery from a Toyota dealer that sells parts online, runs $2100-$2500. You would have to order online and pickup in person. Under the impression you don't DIY, maybe $300 install labor at a shop (perhaps Avi's Automotive in Inglewood, CA, would be a good choice). You would need to confirm that the online Toyota dealer would sell you the battery as some PriusChat members have experienced dealers refusing to sell a non-mechanic, non-Auto parts store employee, the battery. You will also need to bring the core to avoid the $1300 core charge; refunded on the spot since you brought the old battery.

2008 w/ 68,000miles. 68,000miles/7years = you average 9,714,miles/year.
HV battery warranty expires in 2018/150,000miles.
150,000miles/ 9,714miles/year = 15.44 years to hit 150,000miles, based on 9,714miles/year.
Further reason to just say NO!

And as mikefocke pointed out, car extended warranties are a waste of money for consumers. You are buying peace of mind, while profiting the insurance companies. Very few policy owners reap any significant benefit.

Under the impression you bought the car new, get the transaxle flux changed ASAP! No later than every 60,000 mile, which you are over due. You should read this, to convince yourself that this is required; post #473, pg 24.ATF fluid changes ARE Required. | Page 24 | PriusChat
Here's a link to the study by Bob Wilson & Prof Denenberg: Transaxle oil, recent analysis | PriusChat
Toyota only lists the transaxle as a "Check," item at 100,000miles; if low, add ATF-WS. What lubricant lasts forever?