newbie with question about car care plan

You can get it through PriusChat for $990.

 

I would not pay $1875 for it. The $990 price that AlanH mentions makes it more attractive, and I am considering it now that my car is at 34K miles. It's a decision you'll have to make for yourself, factoring in how long you plan to keep the car, your own tolerance for risk, and the value to you of the peace of mind it buys.

Strictly from a financial standpoint, it's not worth it. It's a money-maker for Toyota, and they wouldn't sell it if payouts were likely to exceed income. It's essentially a form of insurance, which you don't buy as a money-saver.

But if the peace of mind of being protected for up to 7 years against a (highly unlikely) major failure is worth the expense to you, then buy it.

You don't have to decide now; you have until your 3-year/36K factory warranty expires. By then you'll have a better handle on the mechanical track record of your model year.

 

If you still want to buy it make very sure that you understand what is and what is not covered. For example, some have learned the hard way that their $1000 policy did not cover the multi-function display.

 

WOW, you mean the Toyota warranty that Troy sells us doesn't cover the MFD!!?? Are you sure

 

<div class='quotetop'>QUOTE(paprius4030 @ Oct 24 2007, 10:30 AM) [snapback]529674[/snapback]</div>

I recall one PC thread where a member with an MFD problem reported that the dealer said it wasn't covered. After Richard's post above, I e-mailed Troy to try to verify. His response:

"Toyota's Platinum coverage is an Exclusionary plan, meaning that anything that is not specifically excluded is covered. And since the MFD is not listed as an exlcuded part, it would be covered by the plan...as long as the failure isn't caused by some sort of misuse."

That was after reading comparisons of the plan here, which doesn't list the MFD among the many covered items (that I could see, anyway). I'd like to see some official Toyota documentation to support what Troy is telling me, such as a copy of the actual contract that's issued. I'll be calling Toyota Financial before I commit.

 

I thought it was covered, I be VERY surprised if it wasn't. Basically like Troy said if it isn't on that list it's covered as far as I know

 

<div class='quotetop'>QUOTE(JimboK @ Oct 24 2007, 10:13 AM) [snapback]529761[/snapback]</div>

My service contract, which is one page long, is exclusionary, just a Troy wrote you. Excluded are items such as hoses, belts, wiper blades, etc. However, I got the policy in October 2004, so things may have changed since then.

I looked at the list of covered components, which you linked. In the Computer and Electronics category, the Navigation System, the Trip Computer and the Graphic Equalizer are covered. None can function without the MFD.

 

Hmm. Maybe some people whose MFDs actually were covered got screwed by mis-information from the people who sold them their plans?

Anyway, why bother? Anyone who can afford to buy a new car can afford self-insurance for repairs, and will on average save money by doing so.

 

<div class='quotetop'>QUOTE(richard schumacher @ Oct 24 2007, 06:52 PM) [snapback]529934[/snapback]</div>

More like screwed by the dealerships not wanting to honor the plan.

As for the latter, there was someone here with less than 100,000 miles and less than 7 years old that needed a new short block. Didn't have an extended warranty. Looking at $8,000 in repairs.

That's why *I* bought the warranty. From Troy.

 

I have the contract for my 2007. Excluded items fall under wear items, glass/trim/fabric/body damage, and hybrid system components (which fall under the 8/100K factory warranty anyway).

There are also the usual exclusions for pre-existing damage, failure to perform regular maintenance (oil changes, etc.), deliberate damage, damage from unauthorized modifications, nuclear contamination, etc.

 

<div class='quotetop'>QUOTE(alanh @ Oct 24 2007, 11:19 PM) [snapback]530036[/snapback]</div>

Thanks, Alan, that's very helpful. Just what I was looking for.

 

<div class='quotetop'>QUOTE(Godiva @ Oct 24 2007, 07:09 PM) [snapback]529947[/snapback]</div>

You mean the guy who drove 65,000 miles and never changed the oil? He got what he asked for; no warranty would have helped him.