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Just Bought a New 2013 Prius C Two in Charlotte NC

Discussion in 'Dealers & Pricing' started by Brad K, Dec 28, 2013.

  1. Brad K

    Brad K Member

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    Just bought a new Prius two yesterday. Paid $20,300 which I thought was ok, they wouldnt budge even though I found it across town for $18,977 but then I have to drive 25 miles. The offered 0% 36 months, 0.9% for 48 months and 1.9% for 60 months, none of which seemed to get me close to my desired goal of $300/month. I wanted zero down and had no trade in. The best they could do was $315 month for 75 months. I wasnt super happy but I took it. After waiting about 45 min I saw the finance manager. I wasnt prepared for the options offered at this point and was tired and not thinking straight. Among the options were a 10 year/100,000k mile bumper to bumper extended warranty for about $1900, also financed. 60k mikes of all service for about $1100 (supposedly half the actual cost except paid upfront and also financed, but this one sounded like the best deal of the three Ill discuss. And a Stop Gap insurance for $799 which seemed like the least of the three. The sales team of course tell me how reliable the car is but the finance manager scares me saying "why do you think they oinly give it a 3 year/36,000 mile warranty" and "this is a high tech car and when things break down they are expensive" Keep in mind this dealership offers a lifetime powertrain warranty after the manufacturer warranty runs out so as long as I own it and as long as I keep it maintained according to the manual I think Im good. But somehow I fell for all three of these, financing some $25,000+ though the rate dropped slightly to I think 2.6%. Bottom line my payment is now $359/month for 75 months. Im thinking I got taken now. What do you guys think? I wonder if I can cancel these three extras. If Powertrain forever is there a point?

    On the plus side I got at least 50+ all city for about 30 miles and as good as 58 mpg

    thanks all!
     
  2. bisco

    bisco cookie crumbler

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    welcome to priuschat! in most states, you have a few days to call back and cancel, which is what i would do. they saw you were tired and really raked you over the coals. you can take your time and shop for an extended warranty if you decide you need one. congrats on your new c, all the best!(y)
     
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  3. Brad K

    Brad K Member

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    thanks, do you think any of the three are warranted? I dont think I need stop gap as Ive never totalled a car (knock on wood) Ive never even been in a wreck that was my fault. Extended warranty def seems like a rip since I get 36000 miles already and I have a forever powertrain warranty. Thanks I cant wait to enjoy this car!
     
  4. ShirLit

    ShirLit Junior Member

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    Usually warranties are separate contracts you CAN cancel. My Honda fit that I traded in still had one year of a seven year warranty on it. When I cancelled it, I received a check for just over $200. You should be ok to cancel.
     
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  5. Brad K

    Brad K Member

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    would you agree that none of the three are necessary? Supposedly the $1100 60k mile one was half of the anticipated cost for oil changes, filters, flushes and whatever else is done by the book but Im not even sure this is true
     
  6. bisco

    bisco cookie crumbler

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    the $1,100. 60,000 mile maintenance is a complete ripoff. noting needed for the first 100,000 except oil, filters tyre rotate and etc. look in the owners maintenance book. extended warranty is a bit more complicated. you already have it on the hybrid system but should get printed details on what the dealership is doing lifetime. there are a few expensive things that are only covered 3/36 so you can think about those when your head clears. as far as the stop gap, you should probably talk to your insurance company to see what they will give you if you did total it.
     
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  7. bisco

    bisco cookie crumbler

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    i agree that none are necessay. i don't buy any, but i don't keep my cars that long and can afford to pay if something does go wrong. there are many who do and many who don't.
     
  8. Brad K

    Brad K Member

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    thank you, the finance guy showed what looked like worst case was a few years out where the gap would be the largest but in a few years we are halfway paid off and it has only deprecated $10k or so I think, Im willing to take the risk I think but Ill talk to the insurance company.

    Finance guy said the maintenance for $1100 was a great deal as after the 3yr/36,000 were not only oil changes but two events that cost $500, according to kbb, maintenance is far less annually up to 5 years.
     
  9. Brad K

    Brad K Member

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    I do plan on keep the car for as long as possible, hoping 225,000k but none of these cover past 100k anyway (except the already built in dealer powertrain warranty)
     
  10. JC91006

    JC91006 Senior Member

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    I would make sure you have this "forever powertrain warranty" in writing. Those guys will tell you anything and it's no good if it's not in writing.

    I believe toyota does all the maintenance up to 2 years or 25000 miles. The 60,000 miles service plan you purchase only covers 25000-60000 miles. Look at the manual and see in that range what you would need and if it'll be worth it.

    The price you paid for that long of a period in finance will have you upside down for a bit of time. You can purchase a regular Prius for that price. I would definitely cancel what you purchased in finance and stick with the original $315 a month.
     
  11. ftl

    ftl Explicator

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    Also note that you can purchase the Toyota extended warranty any time before the 36 months/36,000 miles warranty expires. You don't have to decide now.
     
  12. jss2

    jss2 Junior Member

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    to be honest, it sounds like you made several mistakes are didn't really think things through beforehand.

    first off, I realize that driving an extra 25 miles across town might be hassle, but in my mind it's a no brainer if you're going to save $1300. Next up, how were you planning on $300 / month payments with zero down and no trade-in? If you were somehow able to get a 75 month loan with 0% interest rate, $300 / month would get you $22,500. That's probably enough for a Prius C Two (after taxes/fees/registration, etc... different in every state). but you're not ever going to get 0% for 75 months. It's really not that hard to figure out what monthly payments are going to be, given a borrowed amount and an interest rate. there are tons of online calculators, or just open up an excel sheet and use the PMT formula. Their offer of 0% for 3 years, 0.9% for 4 years, and 1.9% for 5 years is a nationwide Toyota financing deal right now. very easy to find this online beforehand, and know what you're options might be. Lastly, they always try to sell you extra shit, extended warranties, etc, etc.. I get it, long day, long wait to speak to the financing guy, blah blah, etc, etc... you know what... tell them you'll come back another day to talk to the financing guy. A major purchase like a car is not something you want to do while tired and not thinking straight.

    In summary, go and cancel what you can now and hope for the best. in the future, when you're buying another car (in 76 months), please do the following:
    1) be prepared to walk out of the most convenient dealer if they won't match a better deal from another dealer. If you're not prepared to take the best deal you can find, deal with paying more money.
    2) have more reasonable expectations of what a monthly payment will be and what you can actually afford. Do some basic research before hand, know what the rates/loan options are, and think all this through when you're not under pressure at a dealer.
    3) Don't make any decisions when you're tired, or just want more time to think about it. Tell them that you need to go and schedule a time to come back. That'll give you more time to think things through on your own, and you'll be better prepared and more confident when you're back at the dealer.

    On the plus side, congrats on the new car. Personally, I also just purchased a new Prius C Two. Took it home not quite a week ago. I ended up going with the 0.9% financing for 4 years, but then, I had a trade-in and a chunk of change to put down.

    Good luck!
     
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  13. Brad K

    Brad K Member

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    The dealer across town offering the lower price doesnt have the lifetime powertrain warranty so I guess the extra $1300 helps pay for that. I checked and the other toyota dealership in town (we have 4) that also offers a lifetime powertrain warranty quoted me the exact same prices. So I am good with all this at this point, just need to cancel the extra warranties and enjoy the car! This was my first experience buying 1) a new car and 2) any car at a dealership. This is only my third car in my life and Im 39. The first cat bought used for $500 lasted until the second car came to me from a co-worker. That lasted me 11 years. Thanks all for your advice. I should have come here first! Next time for sure!
     
  14. JC91006

    JC91006 Senior Member

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    I'm not really understanding how these dealerships offer lifetime powertrain warranties. I must be missing something. Is there a condition on that warranty that all the services have to be performed by that dealership? Also what happens if your life changes and you move? It would only apply to that dealership, not at any other dealership....like say 25 miles away?
     
  15. Brad K

    Brad K Member

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    has to be done on schedule per manual

    read for yourself: Which vehicles come with the Lifetime Warranty?
    The Warranty applies to all new vehicles.

    What's covered under the Lifetime Warranty?
    The components covered are exactly the same as the manufacturer's Powertrain Warranty plus any additional
    coverage that is listed on the Lifetime Warranty Certificate provided when you buy a qualifying vehicle.

    How long is the Lifetime Warranty really good for?

    The Lifetime Warranty is valid for as long as you own the vehicle - for an unlimited time, unlimited miles.
    How much will it cost?
    Zero. We're trying to build "Customers for Life" so the Lifetime Warranty comes standard with every qualifying vehicle meeting the criteria above and is included at no extra charge.

    Is there any extra maintenance required to maintain the warranty?

    No extra maintenance is required. You must simply follow the manufacturer's Recommended Maintenance as referred to in the owner's manual.

    Do I have to have all of my service completed at your dealership?

    No. Our Award Winning Service Department will certainly exceed your expectations but you are not required to come here. To maintain the Warranty, you must perform the Manufacturer's Recommended maintenance and keep your records. It's that easy!

    Where am I covered by the Lifetime Warranty?

    The Lifetime Warranty is good at any licensed repair shop in the United States or Canada.

    Is the Lifetime Warranty transferable if I sell the vehicle?

    No. The Lifetime Warranty stays with the owner as long as they own the vehicle.

    What's the catch?

    There are no catches, hidden fees, or gimmicks. Our dealership provides this product as an added value to our Customers for doing business with us. The only "catch"? You have to buy your vehicle here!
     
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  16. Brad K

    Brad K Member

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    someone like the above post so I can link it
     
  17. JC91006

    JC91006 Senior Member

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    So basically this is a warranty that you paid $1300 for, not a bad warranty since it is covered nationwide. They say "no extra cost" but basically instead of reducing the price of the vehicle at a discount that other dealerships can offer, they just simply sell at close to MSRP and include a warranty. Like buying Certified Pre-owned, but this is new.

    I wonder if this covers any hybrid parts? I guess if I were to buy a Sienna or 4runner that's not a hybrid, this warranty would be of great value since it's a lifetime warranty with no mileage limit. I used those 2 bigger cars as examples because those are the cars I likely will keep for a lifetime because they are so versatile, can do anything vehicles no matter how old you are...from 20 - 100, they will fit your life.

    This would be a great warranty for traveling sales people or couriers or even Taxi services. The guy that put 460000 miles on a 2009? I still can't believe a lifetime warranty like this exists.
     
  18. Brad K

    Brad K Member

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    reading the fine print, there is a $100 deductible for each repair of the powertrain lifetime. It also does not cover hybrid technology. All service records must be kept. There are a bunch of exclusions like void repairs caused by misuse or damage caused by salt, sap, sand, etc.
     
  19. Brad K

    Brad K Member

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    and commercial use vehicles are not covered
     
  20. Brad K

    Brad K Member

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    I just checked the owners manual. Changing oil and filters and rotating tires is all I can find for the entire 120,000k miles listed (I sure hope they think it will last longer than that). Only inspections of other items are listed, nothing I see says other things must be done? So yeah $1100 seems outrageous. I contacted the Finance manager, he is sending paperwork over to sign to end these extra warranties. However, too late to change the payment structure, monthly payment will remain at $359, however the principle will immediately go down so it will be paid off much sooner than 75 months