Did I pay too much for the extended warranty for my 2014 Prius Two

Discussion in 'Gen 3 Prius Care, Maintenance & Troubleshooting' started by hitesh, Jul 14, 2014.

  1. hitesh

    hitesh New Member

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    First of all, thanks to everyone here for being so helpful while researching my recent purchase of a 2014 Prius Two(which I absolutely love).

    Anyway, I think I got a fair price on the car but then during the financing phase I accepted the first offer for the extended warranty, which was $1495 for 6 years / 75k.

    Based on what I've seen here, it seems like I paid too much. I only bought the car 3 days ago, so I think I'm going to return the warranty & shop around a bit unless folks here think otherwise.

    Thanks in advance,

    -Hitesh
     
  2. JC91006

    JC91006 Senior Member

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    The car is warrantied for 3 years/36k miles from the factory, that means your paid warranty is just for 39k miles. The Prius is usually pretty reliable up to 100k miles or more. I would recommend you cancelling this warranty all together because a Prius Two doesn't have that many bells and whistles for anything to fail too maturely in the first 75k miles.
     
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  3. bisco

    bisco cookie crumbler

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    welcome and congrats! i think you can get it for a grand if you shop around, but i have never purchased one. all the best!(y)
     
  4. DoubleDAZ

    DoubleDAZ Senior Member

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    I probably look at things a little differently. I 'know' most of my business is going to go to my 'local' Toyota dealer, so why would I want to alienate them by buying a car and/or warranty somewhere else? I want my dealer to stick around, I don't want to have to drive 60 miles to the next one. I realize the 60 miles isn't that big of a factor with the miserly Prius :), but the 2.5-3 hours on the road sure is. And, just because someone here got a better price in another city/state, doesn't mean you can around Pine Brook NJ. It might be worth shopping around and then going back to your dealer to see if you can meet somewhere in the middle. And, yes, I know warranty service is done anywhere, but it's the service you get once there that I'm talking about, like getting things done in 30 minutes vs 2.5 hours, etc. And if you don't think people who buy there don't get priority service, you're fooling yourself.

    That said, I got 7/100,000 for $1,350 and I think that's high, but I'm not going to drive all the way across Phoenix to see if I can save a few dollars and risk having my car get minimal service. I took a warranty back once and I got lousy service from that GM dealer. When I bought the Prius, I got a price I was satisfied with and I don't look back. There is always someone who will get a better deal, that's why I hate buying cars. :)

    Edit: I should add that mine is bumper-to-bumper with scheduled maintenance, though the maintenance has to be done at one of the Larry H. Miller dealerships in 6 western states.
     
    #4 DoubleDAZ, Jul 14, 2014
    Last edited: Jul 14, 2014
  5. ETC(SS)

    ETC(SS) The other One Percenter.....

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  6. JC91006

    JC91006 Senior Member

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    There sure are lots of bad service and time wasting assumptions in your post.......

    I live in CA and there are dealerships within 15 minutes of each other. The closest dealership is not always the best, regardless if you purchased the car/warranty from them. They are all operated by human techs that have wide varied degrees of expertise. My Local dealer is the biggest Toyota dealer in the USA, their wait time for an oil change is 3 hours vs. if I drive 15 minutes to another dealership, wait time there is about 30 minutes for the same service.
     
  7. xpcman

    xpcman Senior Member

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    You are the perfect auto customer. The next thing you will do is "save the warranty" by not using it for the LITTLE things.
     
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  8. Okinawa

    Okinawa Senior Member

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    The Prius is extremely reliable. Do what makes you feel comfortable but I would not buy an extended warranty on a Prius. Just more money in the pocket of your dealer.
     
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  9. SageBrush

    SageBrush Senior Member

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    IIRC the *least* any non-wear component a Prius is warrantied for is 36 months/36k miles. The important parts are much longer.

    I'm sure there must be at least a teeny tiny bit of value to a 75k warranty, but I don't have my magnifying glass handy.
     
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  10. DoubleDAZ

    DoubleDAZ Senior Member

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    Just observations based on my experiences and those of friends/relatives when discussing where we purchased and where we've gotten service as well as a couple of friends who work(ed) at dealerships. And that's not saying service has been 'bad', except for the one GM dealership, just that the little extras weren't there, like the salesman loaning me his daily driver so I could run errands, etc.

    And I'm from small town Wisconsin where dealers aren't within 15 minutes of each other. This is actually the first time I've bought an extended warranty, but only because of the high cost of scheduled maintenance these days. I don't know that I've seen a Prius being serviced anywhere except a dealership, so I'm not sure what local shop I'd trust. And my luck says that something is going to fail on one of my 3-4 yearly trips, so I'm willing to pay for the peace of mind that includes towing to the nearest dealership if I'm out in the middle of Montana of Wyoming. If not for the amount of traveling we do, I wouldn't have bought the warranty. :)
     
  11. hitesh

    hitesh New Member

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    Wow, thanks everyone for the quick replies. I think I'm going to go back & try to renegotiate down & cancel if they don't budge on it. And I'll update this thread after I do so.
     
  12. SageBrush

    SageBrush Senior Member

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    Skip step#1 and just cancel the miserable thing.

    Step#3: Set up a rainy day fund with the money you did not lavish on the dealer. That way you can handle a repair if you are unlucky, but much more likely just have a nice extra payday in 75k miles.
     
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  13. JC91006

    JC91006 Senior Member

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    After reading SageBrush's comment, I really don't think there's much value to a 75k miles warranty. Here's the warranty from Toyota....FREE with your purchase.

    Warranty
    The 2014 Toyota Prius comes with a three-year/36,000-mile bumper-to-bumper warranty and a five-year/60,000-mile powertrain warranty. The Prius’ hybrid-related components are covered for eight years or 100,000 miles.
     
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  14. DoubleDAZ

    DoubleDAZ Senior Member

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    You don't know me, so why make such a stupid condescending statement? I've owned cars for over 50 years and new cars for over 40 years. This is the first extended warranty I've bought and only because of the amount of time we now spend on the road. I will use the warranty for every little thing that goes wrong, that's what I bought it for, and I'll get the maintenance done according to the recommended schedule without be concerned about its cost. Why do you care anyway? It's my money.
     
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  15. Okinawa

    Okinawa Senior Member

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    I go up to Door County, WI once in a while. I always wonder what I would do if I had a problem with a Prius if I lived in that area. I think Green Bay, about 50 miles away would probably be the closest Toyota dealer. In those circumstances I would purchase an extended warranty and get all the protection I could get because I would only trust a Toyota dealer if I had a problem. Just my opinion.
     
  16. DoubleDAZ

    DoubleDAZ Senior Member

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    Okinawa, that was my point. I live in Phoenix now and there are plenty of dealerships around. I'm not saying I'd pay more just for the sake of my local dealer, but I'd certainly get price quotes elsewhere and negotiate with my local dealer first. I still have some old-fashioned ideas about loyalty and I don't care how many people tell me times have changed. My answer is simply that I haven't. ;)

    And the subject of extended warranties, just like over-inflating tires, 15" vs 17" wheels, etc., have no answers because everyone's wants and needs are different. I come here to get information and opinions, and I'll offer my opinion. I don't come here to be belittled. :) I'm glad you mentioned Door County though, I added it to my list and September should be a nice time for a country drive with the windows down and the radio on.
     
  17. Okinawa

    Okinawa Senior Member

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    Shoreline restaurant at Gills Rock is great No reservations. Opens at 5oo p.m.. Be in line at 4:40 p.m. for good lake view seat. Ephraim Guest House in Ephraim is my favorite place to stay. If you want to go to a fish boil, the White Gull Inn at Fish Creek is the best. Make reservations a couple of weeks in advance. September is a nice time to go there. It's beautiful up there. Good luck.
     
  18. DoubleDAZ

    DoubleDAZ Senior Member

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    Thanks for the suggestions.
     
  19. terry brecheen

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    I am currently doing 7 year 100000 mile Toyota platinum warranty search here in the Houston area, I have a 2012 prius five with 31, 000 on it and the prices are all over the place. First one I called wanted 2495, I told him Jesse James used a gun to rob people. Second one quoted 1178 for the same and the third one just quoted 1695. Toyota has a list price for their warranty of Around 1200 I have read somewhere, not necessarily fact but sounds reasonable. A lot of dealers try and make a killing off of it. I will go with dealer number two for 1178. Good luck with your purchase. Its worth it to me with all the extra electronics I have ATP etc. Just a piece of mind thing for me.
     
  20. hitesh

    hitesh New Member

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    Thanks SageBrush. This is what I ended up doing. They refunded the entire price, though they would only take it off the end of the loan (and were not able to reduce my monthly payment amount).

    I'm not going to worry about it for a while. Now, I can focus on getting myself a cargo net, a bumper protector & a console cover (though they are hard to find for mine).
     
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