Need Input!! Extended warranty or waste of $$?

I have never heard of anyone who got value from an extended warranty.

Should you wish to 'insure' yourself, pick up a jumpstart pack with alligator clips. (The single most expensive repair I know of involves jumpstarting a Prius incorrectly)
http://www.amazon.com/dp/product/B0024GQZXY?tag=priuschatcom-20

 

I bought a 125k mile warranty convering 4 years, I drive almost 90-100 miles a day. To me a dollar a day is worth it. It covers the entire car. I plan to have the car at least 7 years one way or another.

 

It's hard for me to comment whether you should get an extended warranty, that's a personal decision, but if you are going to get one don't get it from the dealership where he may charge you double.

 

So basically you're worried about not being able to say no. That's a problem you need to fix yourself.

The odd is against you, but some people get them for peace of mind and sanity's sake. If you're not one of them, learn to say no and stand your ground.

 

Like any insurance, if you need it .... it was a good decision. If not, it was a waste, except if there was peace of mind.

I bought the mid-level policy, and do not have any regrets. I now have 56,000 miles on my 2010, and find some comfort..... otherwise, it would be out of warranty. At the time of purchase, I was not that familiar with a hybrid, and had many questions. Since owning this remarkable machine, I now have fewer and fewer concerns. I have driven it across the country 4 times, and leave this weekend for the 5th. I leave with absolute confidence in the vehicle, and have no fears about being stranded or worry about experiencing a problem.

 

The miles I drive, my standard warranty would be done in less than 18 months. So yes, peace of mind.

 

Extended warranty won't cover the hybrid battery at all.

 

Basically anything that is considered wear-and-tear isn't covered, unfortunately.

I really wish they sold a wear-and-tear warranty for upholstery, batteries, lights, paint, tires, etc. Now that would be worth it.

 

Don't.

OK...so PT Barnum might be right in your case.
AT least don't buy the warranty at the dealer. In addition to paying a lot more for the warranty, you're going to get suckered into rolling it into your car loan, which means that you're paying a 1.9 something percent APR more than the already over-inflated price that they're charging.

As far as taking "NO" for an answer...well I can't help you there. I do know that outside the world of Toyota, dealerships are graded by feedback loops, usually in the form of an email or a letter asking you how everything went. I think that I would remind your dealer that not only am I going to leave some uncomplimentary feedback when I get the email asking how my purchase experience went, I might seek out the opportunity to fuss and cuss at Toyota's "Hellen Keller Customer Support" arm before I'm given an opportunity to do so!

However (comma!) that's between you and your spouse.

 

Sorry I can't help but ask, why do you type like this??

 

These extended warranties are a big money makers for the automotive industry, in most cases it will not pay for itself.

I feel the manufactures warranty is all that is needed.

 

Well, that is the point, is it not ?
If it is worth it you, it is not worth it to them.

 

Couple reasons steered me towards buying the extended warranty from the dealership:
1. given a hybrid is highly complex, not a lot of non-dealership mechanics are qualified to diagnose and fix things, I am likely to stay with the dealership shop for repair
2. some of the hybrid replacement parts are not cheap
3. given the high mpg of the car, I am likely to drive my Prius a lot more than the other car I own
4. I am likely to keep this car for a long time
5. most importantly, my trusted mechanic also recommended buying extended warranty from the dealership for any hybrid for #1 & 2.

hope this helps.

 

Please visit the 200k club, which includes me. You will realize that the Prius is built like a tank. Extended warranty is a sucker bet for a Prius. However, if you are an abusive/aggressive driver, it might be a wise choice.

 

Faulty rationale. If this complexity actually leads to higher likelihood of breaking down, it would've been reflected in the predicted reliability. The Prius has been around for over 10 years and proven to be exceedingly reliable.

 

I would agree with you now .... but when I bought my Prius, I had never heard of PriusChat. I read Consumer Report, and looked at whatever I could find, but the reliability was not a proven fact to me at the time. 20-20 hindsight might agree it was "faulty rationale" but at the time, it seemed "prudent." In addition, in 2010 Toyota had just introduced the 3G. Many suggest not buying the first year of a new design. So there were , what I consider, legitimate concerns .... and I have enjoyed a certain comfort that I did all I could to protect myself.

 

Lots of people have the misconception that the Gen III is significantly more complicated than the Gen II and use that as an excuse to purchase the extended warranty. Given Toyota's reputation and history of reliability, that's hardly a legitimate concern. Otherwise, we'd see green circles downgraded to black circles in Customer Reports every time Toyota introduces a new model or re-design. Moreover, you have 3 years/36,000 miles to purchase the extended warranty so you've simply wasted your money all this time.

 

Smurs,

If your motivation for buying the warranty is to wrap it into you car loan because you do not have the cash to buy it outright, then you have little room to wiggle. Otherwise just realize that the chance of $1000+ in covered repairs that is not covered by the standard Toyota warranties over the next 125k miles is negligible.