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Extended Warranty?

Discussion in 'Prius v Care, Maintenance and Troubleshooting' started by bchbumm, Oct 21, 2013.

  1. bchbumm

    bchbumm Junior Member

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    Picking up 2012 Prius 3 with 14k miles tonight. they are asking if we want to add a 7 year bumper to bumper warranty 100k what ever comes first? $2300? Do it or not???
     
  2. xpcman

    xpcman Senior Member

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    I wouldn't. I don't believe the "bumper-to-bumper" part anyway. Consumer Reports advises you not to buy these extended warranties.
     
  3. rdgrimes

    rdgrimes Senior Member

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    It already has extended warranty on power train and hybrid system. No charge. Even at half that cost I'd say its not worth it.
     
  4. mikefocke

    mikefocke Prius v Three 2012, Avalon 2011

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    Probably still has some of the original warranty so you have some up front protection. Ask.

    How many things do you buy that have a ~70% overhead like extended warranties (Consumer Reports figure)? How well have you read the contract that is written by lawyers to benefit who? How well have you researched the financial stability and reputation of the management of the corporate entity that is offering to be the payer 6 or so years from now? (They are notorious for no pay, slow pay and then going out of business only to reemerge weeks later under a new name with the same product pitch.)

    On the other hand, how much risk can you assume? Can you afford to be one of the few with a failure so expensive it would make the purchase of an EW profitable for you? You know it is a few because, just like a casino, most people have to lose to fund the few big payouts.

    I like the casino odds better, those average 90% payouts most places...not 30%.