How Much Should I Pay For Extended Warranty?

The warranty company is obviously going to come in ahead, otherwise they would not be in business.

But the Genuine Toyota Platinum policy should be about $1600 for a 8/125k from one of the site sponsors.

 

Electronics in the Prius have a marvelous track record, and the handful of people who have been unlucky find inexpensive salvage parts or independent repair options.

Think again before you enrich your dealer.

 

I never buy those. I think warranty/insurance is for something that you absolutely can not afford to let happen. In my opinion, that is life insurance and no fault car insurance.

Years ago, I read Best Buy's financial statement. Not to my surprise, they barely break even on selling products. All money they made was from warranty program. No wonder their cashiers are required to ask if you want to cover the product with extended warranty.

 

I got mine this past weekend (at the dealer)on my 2010 for $1,200 - Platinum policy - $0 deductible.

 

You don't need to buy it until just before your 36 month/36K mile warranty runs out. Some dealers will tell you otherwise but they are just trying to get your money NOW.

When you are ready to buy one contact Troy at Warranty Shack, his prices are cheaper than anyone else. He does sell genuine Toyota Platinum extended warranties.

http://priuschat.com/forums/sponsor...rius-extended-warranty-service-contracts.html

 

I don't understand how $1200 is automatically a good price with knowing only that it is a Platinum policy with $0 deductible. Don't they come in various terms and mileage limits for different prices?

Isn't that like someone saying they bought a Prius for $300 a month without saying anything else about the transaction?

 

They first offered it for a bit more...but then when I was with the finance manager, the price came down as I was hesitiating.....
The Platinum policy is for 7 years/100K miles and covers absolutely everything on the car, all electronics, etc...and we know how pricey those can be.
Hope this helps

 

I got the Platinum too, for about the same price. There are way too many ECUs on these for my taste. Try paying $900 before labor for a $35 circuit board.

That being said, I bought one on my last Toyota, and when I bought the next one and traded in the other, I got a balance of perhaps $600 for the warranty and it was applied to the new car. Okay, that sounds like crap from a regular dealer, but this was CarMax Laurel Toyota, and I had my own financing, and I brought in the trade first before I visited the new car side, so there was no where they could go to fudge the check, which came from the warranty division, not the dealer. Just my two cents.

btw, I NEVER buy extended warranties from Best Buy!

 

I think you would make out better buying a warranty from Best Buy. They are both loosing propositions. Both never have the consumer’s interest in mind. They are solely a calculated profit center.

Your best bet is to go to the first and second gen Prius forums and ask about repairs that people had up to 125,000 miles to get a feel of what might break. You will find very few issues on a Prius with 125,000 miles.

 

How do these add-on Toyota warranty programs compare to the Toyota Certified warranties on some select, dealer-offered used Priuses? (And how do they select which to offer this on, anyway??) The Certified program offers 12 mo./12,000 mi. 'bumper to bumper' coverage that they seem to feel is worth '$950 wholesale'. Is there a 'less-than-platinum' warranty that is the rough equivalent?