Getting down to the wire...

Extended warranty generates strong opinions. Some "sleep better" with it, others perceive it (on a group level) as a sure winner for the seller.

I bought EW with 2001 Prius. Things were a little different way back then; we did not know as much. Were I buying a Prius today I would not get the EW.

Paying in advance for maintenance is something that I would not do. Over time my "DIY level" has increased. This is a good thing because it helps you be attuned in case any small problems develop.

 

My personal opinion is that the extended warranty is a losing gamble. But as tochatihu says, some people sleep easier with it.

I think a pre-paid maintenance agreement has to be bought from a particular dealer, and means you are stuck with that dealer. If you move or become dissatisfied with their service quality, you lose big. The extended warranty does not cover routine maintenance.

 

Like Daniel says. Extended warranties are insurance: they are priced to make a profit for the seller (the dealer), not the buyer (you). If you can stay prepared to make a cash outlay that will probably never be necessary, then you will almost certainly save money by *not* buying an extended warranty.

As for pre-paid maintenance: would you buy pre-paid dental care? If you find out that you don't like what you're getting, or if you move, you're stuck.

 

<div class='quotetop'>QUOTE(daniel @ May 9 2006, 09:32 AM) [snapback]252078[/snapback]</div>

I think this is not true (i.e. that you're stuck with a specific dealer). My understanding was that you get Toyota certificates and that most dealers accept them.

OTOH, I still wouldn't (and didn't) get the prepaid maitenance. If you do the math, it's not clear that it's worth it, even if you go to the dealer for all of your service intervals.

 

<div class='quotetop'>QUOTE(BellBoy @ May 8 2006, 05:39 PM) [snapback]251731[/snapback]</div>

Why are you down to the wire? I thought the extended warranty can be added anytime within the intitial 3 yr/36,000 miles.

 

I bought both the prepaid maintenance and the extended warranty from my dealer.

The prepaid maintance was $645 for the 4 year plan. It's good at any Toyota dealership.

The extended warranty was $990 for the 7 year/100k miles plan. If I don't end up using it, I'm entitled to a full refund. And, I got that in writing.

 

My Opinion (and action). Get the warranty, skip the maint. It takes just one failure over 7 years (MFD, inverter, A/C, etc). The high cost of repairs reported on PC should be enough to convince you of it's value.

MHO, Brian

BTW, a $1.5k warranty paid for ~3k repairs on our NSX (again very expensive to repair due to it's uniqueness)

 

<div class='quotetop'>QUOTE(gnagel @ May 10 2006, 09:05 AM) [snapback]252719[/snapback]</div>

The first two years of scheduled maintenance (four oil changes) cost me $120 at a dealer. Prepaid maintenance is not a bargain.

That's hard to believe. Let us know when that dealer goes out of business :_>

 

EDITED -- Bottom Line: Pre-maintenance at gnagel's deal cost only $6.30 more at today's prices in SF. Tomorrow's prices, who knows?

We bought both as well, and yes it is not true that you're stuck with one dealer for the pre-maint. We've gone to three different service centers now, no horror stories, just trying to find what's most convenient for me, I usually drop off the car, go to a movie, read a book at the beach, so I've been trying to optimize my leisure activities around car maintenance.

Pre-Maintenance: We paid $870 for four years, and yes now in hindsight we paid too much but at the time we were guaranteed $60/service, when you add in the 30K, $60 at the time was on close to the gas station I go to ($29.99+tax and $10 rotation then), and this $60 includes the biggies like the 15K, 30K and 45K, the gas station charges extra for air filters, yada, yada. Plus I had the pseudo-confidence (LOL) of going to a Toyota dealer (do the cheapo's really inspect stuff). But today, whoa nellie, that same gas station charges $55.95 and the SF toyota now charges $34.95, ouch! Again, what will they charge tomorrow? 2007-2008?

Now the 100K warranty, wow that's six one way half-dozen another you know! Here's our brief history: 1965 Catalina no warranty LOL bazillion repairs 400K miles, '88 Escort no warr transmission 200K, '89 Chevy El Camino no warranty transmission 200K, '90 Taurus wagon no warranty transmission 60K, '93 Toyota Previa warranty nothing 60K, '95 Buick Regal no warranty nothing 120K, '93 Jeep GCL warranty everything 150K, and 2004 Prius warranty knock on wood 30K!

So my completely unscientific analysis yields nothing conclusive except that I may have an emerging pattern with buying Toyota, hahaha ...

b

 

<div class='quotetop'>QUOTE(BellBoy @ May 8 2006, 02:39 PM) [snapback]251731[/snapback]</div>

I got the EM plan from Troy, and am very happy with it. Haven't had to use it, and hope I never will. As some have said, it does make for easier sleeping. I am not a 'car geek' in that I do know how to change oil & filters & air filter, and that is it. Considering the technology involved, it seemed like a prudent choice to me.

 

Well, in my analysis the prepaid maintenance plan was a close call. I decided to go with it for peace of mind.

It includes 11 oil changes and 11 tire rotations. It also includes "major" maintenance at the 15k, 30k and 45k marks. Finally, it includes roadside assistance for four years. For $645, it seemed worth it.

It might be hard to believe, but my dealer offered a full refund on my extended warranty agreement if I don't use it. I asked for the full refund provision in writing, and my local dealership had a standard form which clearly states that I am entitled to the full refund. I found it hard to believe, but it certainly clinched the deal for me. I expect the dealer to be in business for a while---I bought my first Toyota (a Tercel) from them in 1982!