Should I buy the extended warranty? Help me decide

Search thread titles only for the word "warranty".

There's a new thread on this same topic every month or two.

Your question has been answered and discussed many times before.

 

It depends on how long you intend to own the car and what type of person you are.

If you don't plan on owning the car that long, I would say no. It won't really add much value when you attempt to sell.

If you do plan on keeping the car for a while, are you the type of person who likes insurance? If so, get it. If you would rather gamble, don't get it.

That said, Toyota makes awesome cars that are known for their durability.

 

There are arguments for and against. Like Boo suggested, a thorough search should help you.

But whatever you do, there's no hurry. You can purchase the warranty any time before the basic 3 yr/36K factory warranty expires. I suggest you wait until then. A lot could change between now and then.

 

Statistically no you should not buy it. They're making money from selling the warranties which means on average the warranties cost the consumer more than they give back; otherwise the warranty company would be loosing money. However if you're one of those people that thinks they would prefer to be out the $1k now to save more later in the event you're one of the few who really need the warranty, then go for it. In the end it's about what helps you sleep at night.

That said; be sure to read the warranty documentation that came with the car. I just bought an 08' and the dealer completely lied about the stock warranty coverage while trying to sell me an extended warranty. He said the only hybrid part covered for longer than 3-yr/36k-mi was the battery, but this is entirely not true (the hybrid parts are covered for much longer). Be sure to read the warranty booklet (it's short) before you buy any extended warranties so that you really know what you are paying for.

 

Here's the most recent thread on the subject (started in November):

http://priuschat.com/forums/showthread.php?t=40013&highlight=extended+warranty

 

I'm doing the same thing.

About the only thing you get for buying the Platinum Care warranty now is roadside assistance --- something that's highly unlikely you'll need during the first 3 yrs/36k miles, and something that you may already have through your car insurance or one or more of your credit cards, or if you're already a member of an automobile club like AAA.

Also, 3 years from now you'll have a better picture of how the car holds up, and exactly which extended warranty package to get (which can save you another $100 - $200).

Congrats and good luck.

 

I am in the same situation. Now that I know I can purchase the warranty anytime before the basic warranty expires, it is no brainer that I should hold-off on the purchase and use the money somewhere else or just save it for now.

 

so the extended warranty is no longer offered in the shop here? now you have to go to the "warrantyshack" ?? who is this, and who is selling these warranties?

 

It is just another way to buy it from Troy.

 

The extended warranty is still sold through PriusChat, it's just that with the new software the links for it are no longer on the top of each page. You have to go directly to the sticky extended warranty thread.

If I remember correctly, the links and the sticky extended warranty thread always led you to warrantyshack.com anyway.

Troy is Troy Dietrich of warrantyshack.com/Toyota of Greenfield, MA.