Hate to Have to Rip the Dealer as my 1st Post

My car loan when I took it ou was a lower interest rate than my home loan, after I negotiated with the finance guy. I guess I did a pretty good job hey. Then my home loan interest went down lower than the car loan so I refinaced the car. There were no exit fees and I even got money back after the loan was closed. Due to a marriage split I refinaced my home at the same time.

I wouldn't bother buying an extended warranty on a Toyota, the chances of needing it are minimal.

 

Richard, this is one of the FEW times I will ever disagree with you...

I purchased a 4Runner in '95. Bought the extended warranty for $1000.00. Over the next 7 years I racked up over $6,000.00 in repairs that were ALL covered.

Net profit on the deal, $5000.00..... Everything breaks.

As my favorite Chief Engineer once said, "The more complicated the plumbing, the easier it is to stop up the drain!!"

The Prius has LOTS of PLUMBING!!! I plan to keep the car for 7 seven years or so, I think the warranty will pay for itself, as it has in the past!

I plan to keep the car at least 7 years....
Those of you who plan to keep it for say 3 years or less, yeah, don't bother.

 

Go here, Massachusetts Toyota Dealers - Dealer Directory

Find the dealer's name and rate them. I had a really bad "car pickup" experience which was really not their fault. I had already bad mouthed them to Toyota and the dealership General Manager called me. He asked me that if my experience with the dealership improves, would I go to this dealerrater site and say so. It must mean something to them. I'm still waiting.

 

Just because it worked out for you this time doesn't mean they are always a good investment. I too have had stories where cars I've had extended warranties on have needed repairs that were covered and they paid for themselves, I have also had cars where I've had no extended warranty and they have needed no repairs. Its really an insurance policy.

Let me put it this way though...if extended warranties always paid for themselves then companies wouldn't sell extended warranties...

 

I'm in California and the hybrid battery is warrantied for 15 years/150K miles. Emissions is 10 years/100K miles. So why bother with an extended warranty?

 

Lots of other things on the car that are not the hybrid system or the emissions system. Nav screens...instrumentation...window motors...A/C compressors...water pumps...suspension components...

 

Amen to that.

 

I will never purchase an extended warranty. I wish I could find the study, but I read a report that you have like a 19% chance of needing repairs that exceed the cost of the warranty before it expires. There's a reason they sell these things. I'm searching google for the report...

 

My Prius is 5 years old now, I have spent $25 on repairs that might have been covered by an extended warranty. I expect I have spent more than most 2004 Prius owners.

 

Blizzard –

I hope that you saw in the thread that you have 30 days to cancel that policy without penalty and get a refund.

I would also report the salesperson and the dealership to Toyota Customer Service. That behavior is unacceptable and should not go unchecked.

Keep us updated on the outcome!

 

I think thats 100% plausible actually...whether they wanted him to know the policy or not is the question...

 

I would suggest that you do not get the rustproofing. Many folks say that not only doesn't do any good, it may also do some harm because it can trap water. Your car comes with a 5 year, unlimited mileage rust out warranty.