Should I buy a 2007 Prius extended warranty?

welcome! no, put it into savings, those warranty's are a scam. all the best.

 

is it too late to be asking this question 1 month after the purchase? You should keep it in savings, that's a lot of money

 

Chances are you won't need the warranty and if you do, it will most likely be for the hv battery. Those warranties usually don't cover hv batteries so it seems it may have little use for the next 24,000 miles.

If a repair does come up within that time frame, I don't think it would exceed the amount you're paying for the warranty......unless the car is a piece of crap

 

if you can afford it and it gives you peace of mind....then just keep it. I would keep it in savings if you were to really need the money

 

east or west?

 

The overwhelming advice whenever anyone asks about extended warranties is usually: No don't do it, not worth it.

I'd say, even though I myself have never purchased a used car warranty or an extended warranty, I'm a little more open to the idea of someone actually buying one and keeping it.

Especially with a Prius, Hybrid, I think the key is to know EXACTLY what is covered and what is not. Including the HV Battery.
Then if you feel good about the coverage vs. investment? Keep it if you wish.

Either choice is neither 100% right nor 100% wrong. On a 8 model year old hybrid the chances that you spend more than $1370 on maintenance in 2 years does exist. Wouldn't take too many failures of too many systems to surpass that cost.

But REALLY the key is knowing what you are buying. If Ford/Lincoln is selling you this warranty and telling you it can be used at ANY Toyota dealership, then I have to think it is NOT a Toyota warranty and is simply a generic warranty. I'd want to read the fine print as to what is actually covered, especially in relationship components specific to a hybrid.

Conceivably the reason people purchase extended warranties is for peace of mind. But that peace of mind is only possible if the warranty is actually any good.

Money in the bank of course covers anything that might come up. And you don't have to check with "Money" to see if it covers whatever component may be broken or at end of life.

 

I also purchased the extended warranty. Time will tell if it was worth it or not. Given a second chance I would pass on the warranty.

 

There's a difference between an OEM (factory) warranty and the garbage that they sell at the seedier dealerships.

What you've probably........almost certainly purchased is repair coverage, and it probably has more caveats, exceptions, exemptions, and exclusions than Aluminum level government health care coverage.

It's expensive, it's probably an inferior product, and you'll probably knock down 24,000 miles more quickly that you think you will.

Your call.
If you keep it, read every line of print on every scrap of paper that they gave you with this coverage and do some internet research to find out what's covered and what's not.

Good Luck!

 

yes