Extended Warranty $1250 with full refund - bite ?

Discussion in 'Gen 2 Prius Main Forum' started by sas0611, Jul 20, 2008.

  1. Boo

    Boo Boola Boola Member

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    Hi Porsche,

    Don't quite know what you mean by your belief that all the warranties discussed here are third party warranties.

    The Toyota Platinum Care extended warranty sold here is sold through Toyota Financial Services, and I believe that the actual contract -- the Vehicle Service Agreement -- is with Toyota Motor Insurance Services, Inc.

    Yes, they're technically a third party as Toyota Motor Insurance Services, Inc. is not Toyota Motor Corporation. But its ultimate parent company is Toyota Motor Corporation. And on its own, Toyota Motor Insurance Services, Inc. has a Best rating of A-:

    Top Company Profiles - A.M. Best Affirms Rating of Toyota Motor Insurance Company - Toyota Motor Corporation ADS - Portfolio.com

    So, the least of my worries re the Toyota Platinum Care extended warranty is whether Toyota Motor Insurance Services, Inc. will go under.

    But yes, for the other extended warranties with third parties unaffiliated with Toyota, I'd worry. But then again, I'd never buy their extended warranty anyway.
     
  2. Cruising7388

    Cruising7388 New Member

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  3. go4less

    go4less New Member

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    Please explain refund of extended waranty cost. If you take your car in tomorrow and the cost is $300 and paid by your extra warrant and you do not use it again so does that mean you get 900 of your 1200 back or because you used it it is now not going to be refunded...
     
  4. sas0611

    sas0611 Member

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    If you used .50 of the warranty you'd get nothing back. I can see myself paying for small repairs out of pocket so as to keep the total refund thing happening. By the time the contract expired, they'd have really made out well with me. I'd have most likely been nickeled and dimed out of pocket for several hundred dollars and the dealer would have my $1250 free and clear without my having ever made a claim.
     
  5. penbed

    penbed New Member

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    If you use it you lose it.
     
  6. go4less

    go4less New Member

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    Keep in mind as well business do not offer warranties beacuse they like you---it is big business and if there was a good chance that you would use up the cost then they would not be in business long -----They know the odds of you needing it better then you.
     
  7. kazots

    kazots LifesaBeach

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    There are alot of questions to answer about that warranty. If it is a Toyota 7year/100,00 mile warranty and money back if not used. Sounds too good to be true, I'd take it.
     
  8. sas0611

    sas0611 Member

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    The price of $1250 was for a 6/100K extended platinum warranty.
     
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