Extended warranty yes or no?

no

 

Extended warranties, like lotteries, are a tax on the mathematically challenged. Highly trained statisticians calculate the rates so that the insurer makes lots and lots of money and just enough customers come out ahead to make it tempting.

 

That price is OUTRAGEOUS. If you really want an extended warranty see Troy. He's be selling extended warranties to PriusChat people since 2004 at can't be beat price. Search for Troy extedended warranty here and you should get his contact info. He's with a Toyota dealer in Mass.

 

The 4th generation Prius is still pretty new, but so far the most likely issue you're likely to have is a more fragile than typical windshield, based on 2016 Toyota Prius Problems, Defects & Complaints

2nd & 3rd generation Prii have a very good reliability history, so you probably won't need to use the warranty much.

 

No @ $4028.04 for 7Y/125K. 10Y/125K inclusive @ $1700 (no interest) is fair.

 

That's the most succinct description I've ever heard. It's the name of the game in any insurance business. There are some insurance policies that (arguably) are worthwhile. Just because: even though they're losing propositions, there's SO much riding on it. Home insurance for example.

And collision/comprehensive insurance? I always pony up for it, have needed it every so often. Not sure if I've come out ahead, more than likely haven't.

But extended warranties on cars, I'll take my chances.

 

Same here. If the loss would crush you financially, make sure it's PROPERLY insured. Read the fine print. Otherwise, on average, insurance is a losing proposition, especially extended warranties.

 

No.
Never.

Done.


Edit.....
Saying 'no' to additional ANYTHING at the dealer is a very VERY good rule of thumb......however (comma!) if you're very unfamiliar with cars or car dealerships then you may be the exception that proves the rule.

If you're not experienced or educated enough to know that $4,000 is about 3x the industry average for OEM extended warranties, or that there are NON-OEM warranties out there that people are rooked into buying.......or that some states (CARB states) have additional coverage that some would call "free" for some hybrid components that go beyond 7 years and 125,000 miles........then you may want to consider buying the warranty.....and always taking your car to the dealership every 5,000 miles and doing exactly what they say.
In this case you will have spent very many thousands of dollars more than you will have needed to for buying and maintaining the car, but you will have driven blissfully for those 125,000 miles without having to take much in the way of ownership in the ownership experience.
Also....if the car goes down hard before the 125,000 mile mark then you will have some plausible excuse to make the dealer repair it........maybe.

There's a lot of middle ground between my approach....which is ONLY buying the CAR at the dealership....and dedicating my 10 years of ownership to never returning to the dealership and the approach of establishing a long term relationship with the dealer and letting them maintain the car......and as always most people are on the middle somewhere, but as a rule of thumb, warranties are not a wise product to purchase.
EVEN if it is a gen-u-wine OEM warranty at a cut-rate price.

YMMV.

Good Luck!!

 

I dislike that word "crush" especially. Whenever I crawl under the raised car I put this thick chunk of tree trunk under a main beam first.

 

Good idea. I need a chunk like that, too. Gives me the heebie-jeebies every time.

In fact, where I'm at in Ohio, there will soon be several suitable candidates laying in the yard if I only had room in the car.