Discounted Toyota Prius Extended Warranty /Service Contracts

Last I heard, that's the way it would work.

I'm always ready to be corrected, though...

 

well that would not put the buyer at any risk at all and anyone would be a fool not to do it if they were to receive their money back no matter what.

i think i will wait and see how my car goes first since i can do the warranty later if i want. to be honest with ya in the short time that i have had my car, i dont feel that the extra coverage will be needed. i am willing to gamble against Toyota's legendary reliability.

 

The value of the plan is prorated based on how much you use. That is, if it's a 100K plan and you decide to end the warranty at 75K, you get 25 percent of the original cost back. So it isn't that there is no risk at all and you just get your money back in 7 years if you don't use the warranty.

 

Re: Toyota Service Contracts / Extended Warranty - Discounte

OK. I called several local dealers and they ALL gave me the exact same price - $1440 for 6Y/100K/$0. What am I missing?

 

I suspect that that ($1440) is the current "MSRP" In March we got ours at the Minnesota dealership where we got our Prius for about $1300 rather than buying locally in Idaho or going with the dealer mentioned elsewhere here in PC who was selling the same contract for just under $1000. Obviously, there is some cushion in there and Danny is giving us a great deal. I, however, am stuck with the current contract because my wife insists. We were treated so well by Walser in Bloomington that she has also insisted that we go back to them for our second car as well despite the 1500 miles between us and the dealership!!! On their waiting list since early June. Delivery sometime first quarter next year.

 

I read that if you don't use it AT ALL, the *full* price was refunded. Even one small use for a $10 light housing and there would be no refund.

Now I'll have to go back and see if I can find what I read...

So far, all I can find is this:

But I can't find where the Toyota Platinum Service Contract is sold as 'refundable', even though I believe I read it was...

 

Well, it is refundablein a sense. You can cancel at any time, but you lose the amount of COVERAGE you used, even if you had no claims. It's like insurance. You pay Allstate $100 per month IN CASE you get in an accident. If you paid a premium for 6 months and cancelled at 4, you'd get only two months refunded to you, whether you had any claims in the other 4 months or not.

For example, if I bought the six-year warranty at too high a price when I got my car, then found a price $600 cheaper a year later, I'd have to do the math. Toyota, when I cancelled the extended warranty, would subtract the 12 months of the policy that had elapsed from, say, the seven year contract. If I originally paid $1600, I'd get a refund of $1333.33 (minus an additional $50 processing fee).

To wit:

72 month policy for $1600.
Cost per month of the policy: $22.22
Cost for a year: $266.67

That is how the Toyota warranty is sold. I've honestly never heard of a refundable warranty, which just sounds like a scam, but who knows. Apologies if you already understood what I was talking about before this post.

 

after reading your post, i called my dealer and there is no refund at all. the price of 1240$ was a $200 discount offered me because of the wait i had (157 days) and although it expired tuesday, i was told by the service manager that they will honor the discount even if expired on a case by case basis with anything within a month nearly garanteed. he also said that you do not get anything back if its not used. what would be the point?

he did say that you can cancel at any time without penalty and get your money back prorated for the time you did have coverage.

 

Well, the Yahoo groups take forever to search, and the warranty information at http://www.vfaq.net/docs/ExtendedWarranty.html don't say anything about refundable if not used, so I'll just give up.

However, once upon a time there was a posting somewhere about it. My imagination isn't all that good...

 

when i bought my Prius in april, fremont (CA) toyota sold me what they called "Touch of Class" for 306.76 as a "paint/fabric/leather protection".

they said that they shopped around and found that this "brand" of the service was about 25-30% cheaper, but just as good as other, more expensive flavors. seems to be fine, so far!

 

Howdy,

Prior to discovering the different prices for the extended warranties on the 2004 Prius, I purchased a 7 year 100K $0.00 deductible in California for $1495.00. Originally, the dealer had quoted $1795.00 for the warranty. In view of the $300.00 off the original quote, we bought the Toyota Platinum Warranty. When I purchased the warranty from the dealer. Six months later, when I purchased a 2004 Prius for my wife, I had learned about the different prices. We contacted Troy Dietrich of Toyota of Greenfield, MA, and were quoted $985.00 for the same warranty. We purchased the same warranty from Toyota of Greenfield, MA, and are very pleased with the price. Upon receipt of the warranty paperwork, we compared it against the same warranty in California. The coverage was identical with some minor differences in wording on some of the pages due to different State legal wording requirements. I would highly recommend dealing with Toyota of Greenfield, MA for purchasing a Toyota Platinum Extended Service Plan.

Best Regards,

--Billo--
2004 Prius Millenium Silver Pkg 9
2004 Prius Millenium Silver Pkg 8

 

Howdy,

Prior to discovering the different prices for the extended warranties on the 2004 Prius, I purchased a 7 year 100K $0.00 deductible in California for $1495.00. Originally, the dealer had quoted $1795.00 for the warranty. In view of the $300.00 off the original quote, we bought the Toyota Platinum Warranty. When I purchased the warranty from the dealer. Six months later, when I purchased a 2004 Prius for my wife, I had learned about the different prices. We contacted Troy Dietrich of Toyota of Greenfield, MA, and were quoted $985.00 for the same warranty. We purchased the same warranty from Toyota of Greenfield, MA, and are very pleased with the price. Upon receipt of the warranty paperwork, we compared it against the same warranty in California. The coverage was identical with some minor differences in wording on some of the pages due to different State legal wording requirements. I would highly recommend dealing with Toyota of Greenfield, MA for purchasing a Toyota Platinum Extended Service Plan.

Best Regards,

--Billo--
2004 Prius Millenium Silver Pkg 9
2004 Prius Millenium Silver Pkg 8

 

I am not sure what price Danny has worked out but as Troy Detrich is known to PriusChat, I am sure that Danny plans to be competetive pricewise while offering the same exact Toyota product. And the added benefit will be support of this Chat Board!!!

 

I'm probably game for this buy. Does anyone know if the warranty is transferrable? That is, if I sell teh car in 3 years, does teh warranty go with it, or does it disappear?

Tim

 

I believe you can transfer it one time for a fee ($50??).

 

Just FYI, I cancelled my original warranty ($1600 for the 72/75,000, what a rip compared to the deal here! And after the guy knocked off like $300) on June 16 and I got the letter confirming the amount (and the full amount, no $50 processing fee or pro-rated subtraction since I was a week over 30 days) had been credited to my TFS account.

That's nearly four payments off the car right there, and in a year or so when I have cash, I can re-buy the warranty for $600 less, and get more coverage!

 

heh, the guy at my dealer offered it to me for ~1600 dollars. I told him I could have it for under 1000 dollars. He seemed shocked, but not genuinely so. I think he knows it, and he knows that I did my homework. He didn't push the issue any further once I told him I knew that I had ~3 years to decide.

Thanks, PriusChat. I might have been suckered.

 

up until this, i wasnt even considering an extended warrenty. i was willing to gamble on Toyota's reputation for quality as i have for the 3 other problem free Toyota' s i have owned. one a 1987 Corolla with over 200,000 miles i gave to my nephew, and with a few hours and $150 in new parts (most of the parts were replaced because they were replaceable to insure the best chance for worryfree operation. since he is only 17, we didnt want him worrying about things beyond his knowledge or experience)

but this offer has me now rethinking this. Thank you Danny for organizing this offer. i realize that Troy will still profit from a larger market share but still, these things, no matter how beneficial they are to all parties involved, dont happen on their own.

i officially joined this forum in jan, but this was after prowling the forums for a few months. i am active in several other forums and i wasnt sure i wanted to join another one that i wouldnt be very active in. but now, i found that i have dropped other forums simply becasue the people running them seemed to have moved to other things. so now im only really active just 4. but this forum is by far the most active and i think that is indicative of the level of concern, care and cordially inviting atmosphere.

it will always be true that the people are what really makes any forum, but in this case, i think Danny and the mods make a huge difference.