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

Extended warranties are always a waste of money over the long haul. This is because warranty companies exist to make money, so they charge more than they pay out. It's a simple matter of economics. If you self insure, you pocket their overhead and profit.

So when does it make sense to buy an extended warranty? Under any of these three conditions:

1) You can't afford to pay out of pocket for a major repair. In this case the extended warranty is just like any other form of insurance, spreading the risk to protect the buyer against catastrophic loss.

2) You are willing to pay a premium for peace of mind. Some consumers will willingly pay extra to not have to worry about paying for repairs. This is similar to staying at an all-inclusive resort; you may pay more, but you don't have to worry about anything once you make the initial payment.

3) You know more than the underwriter. This is unlikely, since the warranty companies stay in business writing extended warranties.

Anything other than those three reasons is just rationalization. Have at it if you want.

Tom

 

NO, you repeat the same statements in all your posts. You're a broken record with YOUR views.

You are the biggest moron I've yet to encounter. Where are you getting YOUR facts???

So, basically you're saying that if I cancel my warranty and send you the money that you'll cover any warranty repairs that Toyota will cover. Put this in writing and I'll take you up on it - put your money where your mouth is.

Yes, I'm challenging you Mr. Judgeless - shut up or put up!

 

Yep, I think i pretty much said this in my earlier posts.

 

But you also rationalized quite a bit. Had you stuck with the 2 or 3 reasons qbee42 mentioned, nobody (except Judgeless) would've argued with you.

Where did this come from? Judgeless said no such thing.

 

Yes, I rationalized my reasoning for purchasing an extended warranty.

Perspective...I guess it's the way we read these posts.

I expect Judgeless to argue anything posted in any warranty post.

He tells me that he believes I'm regretting purchasing an extended warranty...really?

I'm very happy in my decision to purchase an extended warranty.

He states that the Gen 3 Prius are proven for 125k miles - where does he get these facts? I'm tired of his baseless "facts." In fact, his posts where the reason I started posting in these threads. I've never seen such persistence in spreading rumors as Mr. Judgeless.

If he is so confident in his gospel, I give him the opportunity to take my money. After all, my car will not break down, he can make the money instead of Toyota and all will be happy.

I'm tired of his baseless "facts" and

 

Reasonable offer at first glance, but Judgeless does not have Toyota's ability to deny charges, evaluate claims, or fight crazy consumers.

Are you going to go to court in Judgeless' state and pay lawyer fees if the claim is denied ? Just a guess, I imagine you value your platinum warranty from Toyota, more than you do a platinum warranty from Judgeless.

---
These 'should I buy a warranty' ? threads are pretty useless, because the person has almost always made up their mind anyway and is just looking for a me too response. I think we should have an intro questionnaire (similar to the one people asking why their MPG is low):

1. Is this car bought with a loan ?
2. Is it important to you to have the warranty cost rolled into the loan, if you buy it ?
3. Do you have less than $5000 liquid finance reserves ?

If the answers are Y,Y,N -- STOP. You bought more car than you can afford, and the warranty preys on people like you. Go for it, you know you are going to anyway.

 

I hear you there, some threads here have taken a negative tone.

Peace of mind is an important factor. And in your case it makes sense.

 

I bought a 2012 Prius 3 with the solar package about a month and a half ago. It's my first hybrid and didn't much about it except it was going to cost me an arm and a leg if something went wrong and i wasn't covered. For approximately $2000 I received a 7 year 100,000 mile bumper to bumper coverage. To me that's not a lot of money for piece of mind.

 

+1

 

Whether you get one or not is not strictlly an economic matter but also peace of mind for some. If you are going to buy one I would recommend getting the lowest price (usually not the dealer) and buying it right before you reach 36000 miles or 36 months.

 

+2

And with that, I'm done with warranty threads!

 

I do repeat the same facts over and over. This thread was stared with the OP thinking the battery would be covered by the extended warranty. I have posted many times it is not along with other facts.

There are two threads in the main forum were people post when they hit 100,000 miles. One guy is up to 190,000 miles on his Gen III. It is a fact that the battery is not covered with many other Hybrid hardware items. Why does that make me a moron? I think you have a hard time reading facts and acknowledging them.

I never offered to that that but I would make a boat load of money just like Toyota is doing now selling extended warranties. It is a profit center.

 

I learned a long time ago you state your opinion, people either accept it or they don't. You really haven't stated any facts but you're persistent with your opinions.

"There are two threads in the main forum were people post when they hit 100,000 miles. One guy is up to 190,000 miles on his Gen III. It is a fact that the battery is not covered with many other Hybrid hardware items."

If the above are facts, then it only takes the one or two people that do have problems to also negate everything you say above. Again, i've posted the actual PDF from Toyota that shows everything they do and do not cover in a previous warranty thread - nothing new here but I do know that you like to continually repeat yourself. Maybe along the lines of those kinds of people who like to hear themselves talk.

These warranty threads are completely useless at this point because you constantly berate them.

You win as I no longer have the desire or time to devote to this back and forth with you.

 

This was just posted today.

This is a perfect example of what dealers do when you sign the paper work for the car. They sell people on FUD (fear uncertainty and doubt) and lies.

The major parts of the Hybrid system are not covered by an extended warranty.

- Hybrid System Main Relays
- Hybrid Vehicle Battery
- Hybrid Vehicle Battery Module/Pack

Also the term bumper to bumper is not true. One would think everthing covered by from the front bumper to the rear except tires and brakes. You will not have to pay anything if something breaks. Here is a list of items that excluded. http://priuschat.com/forums/gen-iii...-extra-care-platinum-gold-31.html#post1555418

If you hit a curb or a pot hole that causes damage to struts or alignment or many other things you are still responsible for paying for those items.

I know I post these FACTS over and over but I keep reading post like that one above and feel the need to clear up what scumbag dealers are telling customers.

This post is an example of one the people that bought the extended warranty at the dealer when they sign the paper work. Most people do by the warranty at the dealer when they buy the car, it is not speculation.

 

They are not useless. Read the post above. Many new people start new threads like this one “Need Input!! Extended warranty or waste of $$?â€

The dealers tell a lot of lies and many people have the view that:

The car is very complex and if something breaks it could cost thousands. Over the 10+ years the Prius has been shipping this has not happen. Toyota makes the most reliable cars in the world. The Prius is rated by Consumer report as one of the most reliable cars you can buy. The only exception was the 2010, it has brake issues that a recall fixed.

After your 36,000 miles warranty if the battery fails it will cost thousands. This is false. The warranty does not cover the battery. The standard warranty will cover the battery from 80,000 to 120,000 based on the state you live in.

This warranty will cover the car bumper to bumper with no expense to you. This is a huge lie. There is a large list of excluded items. If the owner does something as simple as hitting a pot hole nothing will be covered that results from the incident

 

This is a good example of an item that will not be covered by a standard warranty or extended bumper to bumper warranty.

 

That's just a comprehensive insurance claim. Pay the $240 or so comprehensive deductible (which everyone has) instead of $1100.

A more relevant example of the disparity between standard warranty and extended warranty is there are lots of non-wear and tear items that extended warranty won't cover. For example, the center console lid gets jammed and won't stay closed. It'll be covered by the standard warranty but not the extended "bumper to bumper" warranty. So much for "covering the entire car."

 

This is just one more example of the moron posting his opinion absent any facts.

How, precisely, is it *not* speculation that "most" people do buy the warranty at the dealer when they buy the car?

This is just another example of Judgeless taking his opinion and transforming it (in his mind) into a fact. Just like his statement in the other post that all IRAs are fixed at a 2% return.

He loves nothing more than flexing his ignorance.

 

There's a big difference between "...one ...people..." and "Most people..."

"One" is a fact. "Most" is speculation.