Discounted Toyota Prius Extended Warranty /Service Contracts

The finance guy at the dealership where we are purchasing our Prius told us that if we didn't buy the plan now and waited until close to the 36k mark that certain things wouldn't be covered.

Does anyone know anything about this?

Also they were offering it for $1450. On a side note a place in Montana wanted $2400!!!!

 

Not true. I just purchased 7yr/75K ext warranty for $695 thru PriusChat 1 month before my 3yr/36K original warranty runs out. Troy is one of the nicest guys to deal business with. This is the genuine Toyota Platinum warranty we are talking about. Your dealer was B.S.-ing you into buying it now and from them. <_<

 

<div class='quotetop'>QUOTE(Danny @ Nov 6 2007, 05:16 PM) [snapback]535754[/snapback]</div>

Just picked up our Prius this past Monday. We got roped into the extended warranty for about $1800 which added three more payments plus $10 per month over 60 months. Is there any way to get out of this since it is included in the monthly payment?

 

Hi neighbor. Congrats on your new Prius. Why don't you call Troy and ask him on the phone. He's a very friendly guy and he knows the ins and outs of all that finance and insurance stuff.

 

<div class='quotetop'>QUOTE(paprius4030 @ Nov 7 2007, 10:33 AM) [snapback]536144[/snapback]</div>

Thanks. What is his telephone #?

 

See the post from TOG on page 21, that's Troy and it has all his contact info.

 

<div class='quotetop'>QUOTE(lion46 @ Nov 7 2007, 08:12 AM) [snapback]536160[/snapback]</div>

Troy Dietrich
</span>Toyota of Greenfield
(413) 772-0231
(413) 772-0989 (My Direct Line)
<span style="color:#222222">[email protected]

<div class='quotetop'>QUOTE(lion46 @ Nov 7 2007, 07:18 AM) [snapback]536132[/snapback]</div>

If you cancel within 30 days, you get a full refund, less an administrative fee. Afterward, it is prorated. The cost of the policy will most likely be subtracted from your loan balance.

 

<div class='quotetop'>QUOTE(elcholoperuano @ Nov 6 2007, 02:11 AM) [snapback]535352[/snapback]</div>

i was told the same thing in that there are certain things such as lites, gps screen etc that would not be covered, however, i didnt question it since they offered the so called titanium + for $970 about the same as from troy.

 

<div class='quotetop'>QUOTE(lefat1 @ Nov 7 2007, 12:01 PM) [snapback]536185[/snapback]</div>

There are in fact many items that aren't covered by the Platinum extended warranty. It's not full coverage at all. And I've only read a few posts from a few people on this board who have actually used the extended warranty.

Buying an extended warranty will not help you if you look at statistics. The reason they exist is that Toyota and other companies earn far more from them than they pay out. So you're gambling when you buy one.

I'm not going to buy an extended warranty. The existing warranty is great and I think it's enough for my wife and I.

-Dave in Seattle

 

<div class='quotetop'>QUOTE(DaveLeePrius @ Nov 7 2007, 09:17 AM) [snapback]536194[/snapback]</div>

I don't know the source of your information, but according to my extended service contract - which only lists exclusions, not covered items - just about everything is covered with the exception of items such as tires, belts, hoses, brake pads, light bulbs and cosmetic/trim items.

 

<div class='quotetop'>QUOTE(DaveLeePrius @ Nov 7 2007, 12:17 PM) [snapback]536194[/snapback]</div>

There is no gambling going on here. This is a simple business proposition. I purchase life insurance, health insurance and disability insurance. I don't make the purchases with the expectation that the insurance companies are selling me policies at cost or below. They'd go out of business, and it wouldn't help me at all if they did that right as I was about to make a claim!

If you are fine assuming 100% of the risk (beyond the original warranty coverage, that is), then there is nothing to be upset about. If you are offended that dealers try to sell these policies at multiples above the point of reasonable profit, then I join you in crying "Fie and for shame!" Still, I like the idea of having some coverage for a car with new technology and expensive parts. To me, it is the same as buying term life insurance while my children are young: Sure, I'm not likely to die before they go off to college, but if I do, what will it cost my wife to manage without me? (OK -- I just opened myself up for all sorts of other comments .) I'll pay the extra money for the peace of mind, and I'll hope I never have to use it.

 

Yes, it is about peace of mind and hoping you don't have to use it! Just like putting the snow plow on my tractor early keeps the snow away, the snow only comes early if I'm late putting the plow on.

 

<div class='quotetop'>QUOTE(paprius4030 @ Nov 7 2007, 03:20 PM) [snapback]536298[/snapback]</div>

Because ya'll are saying that there is no dif between buying now or later, I'm going to buy later. My whole point in asking whether to wait or not was mainly because I didn't want to pay interest on something that I won't need for 3 years from date of purchase. Kinda stupid to buy it now if there's no difference ya know? Money doesn't grow on trees after all


-------------------
4% over dealer cost
$2500 under sticker price
-------------------

 

<div class='quotetop'>QUOTE(paprius4030 @ Nov 7 2007, 03:20 PM) [snapback]536298[/snapback]</div>

we dont have snow here, but is that the same as watering the lawn and then it rains?

 

LOL that too!

 

Last week I canceled my way too expensive Platinum 7 yr / 75,000 mi Extra Care Service agreement that the dealer sold me (You're with "X" company? I will give you a good price on this).

When I took my agreement book back to the Dealer and told them I wanted to cancel they asked me why. My simple reply was that I didn't need it. No other questions were asked of me. Since it was financed through TM, the total amount of the loan will be reduced, but the monthly payments will remain the same.

Today I received my new, reasonably priced (less than half the dealer cost) 7 yr / 100,000 mi agreement from Troy.

Troy was very quick to respond to my email inquiries and I am very happy with the results.

I highly recommend his service to anyone interested in any of the Toyota Extended Warranties or Prepaid Service agreements.

 

When I was picking up my HiHy, when I told the salesman how much I paid for the Prius extended warranty (I'm getting a refund, I think half of what I paid by the way), the sales manager offered to sell one for the HiHy to me for $1095. I wonder what they would have offered it for otherwise. Is the HiHy extended warranty the same as the one for the Prius?

 

<div class='quotetop'>QUOTE(IsrAmeriPrius @ Nov 7 2007, 09:43 AM) [snapback]536172[/snapback]</div>

I just went through cancelation of 7y/75k that cost $1350 and getting the same from Troy for $695.
When I canceled the old one I told them I was going to get it back from a different dealer and the person on the phone gave me the full $1350 back and said that since I was going to get it again he is waiving the administrative fee. I verified yesterday with TFS that the full $1350 was credited towards my loan.
The loan will just become smaller by that amount. As a bonus, the $695 cost is really $688.05 as I paid it with my Costco AmEx ;-)
Either way, Troy is (like other people said here) very pleasant to work with.

 

Add my name to the list of very happy customers of Troy. He's fast, professional, thorough, and it's a good deal.

I waited until I had about 33K miles on our Prius, and seriously debated with myself about getting the extended warranty. In the end, I decided that it was worth the money even if the only thing it did for me was to provide peace of mind.