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Extended warranty for $800?

Discussion in 'Gen 3 Prius Main Forum' started by cstone94, Apr 6, 2013.

  1. cstone94

    cstone94 Junior Member

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    Greetings. I just purchased a 2010 Prius III with about 48K miles on it. I purchased it from a Toyota dealer under the certified pre-owned vehicle program. The car has had all of its periodic maintenance to date at the dealer.

    The dealer is offering an extended warranty for about $1,300. In general, advice here seems to be against taking extended warranties, and I always reject them on consumer electronics. However, my own mechanic, who has maintained all my Toyotas for over 10 years, recommended that I get an extended warranty. He works at a Toyota dealership, but not the same dealership where I bought the 2010 Prius, so I don't see how he has anything to gain financially by making this recommendation.

    So, three questions:

    1. Is there a particular reason he made this recommendation? Would that tip the balance towards getting the warranty?

    2. I've read in some other threads that various buyers have found extended warranties for $800, and that some of these may be available from PriusChat.com. Can someone point me in the direction of these?

    3. I'm not sure whether the extended warranty is from Toyota or a third party. I had initially thought the former, but in previous threads, I've seen statements to the effect that Toyota only offers warranties on cars with less than 36K miles.
     
    #1 cstone94, Apr 6, 2013
  2. jdenenberg

    jdenenberg EE Professor

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    ONLY get extended warranty's that are factory sourced. I had a dealer warranty on a Nissan years ago, but when there was a problem, neither the dealer nor the insurance company were still in business.

    JeffD
     
    #2 jdenenberg, Apr 6, 2013
  3. tumbleweed

    tumbleweed Senior Member

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    I agree with Jdenenberg, if you want one only buy the Toyota extended warranty, avoid the after market non-OEM ones. Some of them may be OK but there is really no way to tell before you buy it. Make sure you understand what is not covered before you buy.

    Check out this thread: Discounted Toyota Prius Extended Warranty /Service Contracts | PriusChat

    Be aware you will probably lose money on it, it's good to have if you are unlucky though. I bought one on my 2010 because I have the ATP and a lot of those components would be very expensive to fix. I have tried to use it twice, first time was for the hatch struts and they covered them with no problem. The second time was for the engine under cover and they refused to cover it because Toyota considers the engine undercover a body part and the extended warranty doesn't cover body parts. None of the expensive to fix items such as the DRCC, PCS, and Nav have had any problems. If things continue to work, as I hope, I will lose money on the extended warranty.
     
    #3 tumbleweed, Apr 6, 2013
  4. ursle

    ursle Gas miser

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    Read the list of what's not covered and then save your money.

    Or read the list of what is covered and save your money.
     
    #4 ursle, Apr 6, 2013
    milkman44 likes this.
  5. Lakerfan02

    Lakerfan02 Junior Member

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    How much are you paying for it with tax, title, etc? Looking to purchase a used one as well.
     
    #5 Lakerfan02, Apr 6, 2013
  6. adamace1

    adamace1 Senior Member

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    If it's not a Toyota warranty I say do not buy it! If it is I would pay 800 for it depending on what type and how long it lasts. You didn't provide much info.
     
    #6 adamace1, Apr 6, 2013
  7. rogerv

    rogerv Senior Member

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    I haven't bought a car under the certified used car program. Does that include a warranty? If so, the one you are thinking of buying would probably be running along side it. In other words, the clock would be running for time and mileage, and if there was something to fix, the certified warranty would take care of it. As others have mentioned, you need to read carefully to see what is and is not covered. The folks collecting the premium are in it to make money.;)
     
    #7 rogerv, Apr 6, 2013
  8. ETC(SS)

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

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    Most dealerships offer a warranty with their CPO program.
    I don't know if this is a Toyota thing or just this dealership, but I would close the loop on that first.

    Presuming that Toyota is just stingy with their warranties, I would NOT take their "offer."
    1. Your vehicle should have a fairly accurate history. Rest on that.
    2. You live out on the left coast. One of the advantages of this is that many of the hybrid components are already covered beyond the base warranty since the PRC is a CARB state. :)
    3. Warranties are like trying to win at a casino. Yeah.....some do, but the odds really favor the house.

    You've already paid top dollar for the car.
    Don't sweat the warranty.


    Good Luck!
     
    #8 ETC(SS), Apr 6, 2013
    rogerv likes this.
  9. cstone94

    cstone94 Junior Member

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    lakerfan02, please e-mail me offline, and I'm happy to discuss.
     
    #9 cstone94, Apr 11, 2013
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