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Prius v Extended Warranty and Gap Insurance?

Discussion in 'Prius v Main Forum' started by dfine1966, Apr 2, 2012.

  1. dfine1966

    dfine1966 Junior Member

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    I am planning on getting my wife a Prius v 5 and am going to get the extended warranty and Gap Insurance. I know there is some discussion about whether to get the warranties and insurance, but for me, I learned the hard way, the one time I didn't buy one or the other, it cost me a lot more than it would of cost if I had just purchased both. My wife is going to be doing almost 25,000 miles a year with this car, so the 36,000 will be gone fast.

    My question, for those that have bought the Prius v 5, or lower, on what the cost of the 100,000 mile warranty they have been paying, and how much they are paying for the Gap insurance. I know from past experience with Toyota, (Owned 6 Toyota's already) that you can haggle both of these prices. I just want to know what the lowest I could get it for.

    Thanks.
     
    #1 dfine1966, Apr 2, 2012
  2. Quentin

    Quentin Member

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    You should be able to get a 100k warranty for under $800. I got my 7 year, 75k Toyota Platinum warranty for my 4Runner for $495. Search around. There are several dealers that sell the warranty at, essentially, cost.
     
    #2 Quentin, Apr 2, 2012
  3. eldiee

    eldiee Member

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    An extended warranty is offered here on PriusChat for 100000 miles for $1050 for I think 7 years. It is a Toyota warranty!
     
    #3 eldiee, Apr 2, 2012
  4. JRCurrier

    JRCurrier New Member

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    Check around on gap insurance, as well. We replaced our old vehicle, which was in an accident, with the v3 and State Farm doesn't charge for gap insurance...it's part of the loan. When I told the salesman that, he included the gap insurance for no cost with a Toyota loan. With him also providing the lower interest rate, we took it!
     
    #4 JRCurrier, Apr 2, 2012
  5. gymgrandma

    gymgrandma Junior Member

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    I have State Farm and they told me they did not offer gap insurance. Is this with a State Farm Bank Loan?
    Thanks

     
    #5 gymgrandma, May 6, 2012
  6. The Critic

    The Critic Resident Critic

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    +1

    However, do remember that the Toyota Extra Care warranty:


    1) Does not guarantee the use of new, OE Toyota parts
    2) Does not pay for diagnostic time
    3) Only pays for repairs where the component has broken down - as deemed by the warranty administrator, not your dealer
    4) All repairs must be approved by the administrator, not your dealer, and in some cases an adjuster may be sent out.
    5) TSBs may or may not be covered
    6) Your dealer is only paid "warranty time" for all repairs, and they are not getting paid diagnostic time to figure out the problem -- gee, wouldn't you love to be the tech performing a repair under Extra Care warranty? :mad:

    Point is, it may be peace-of-mind, but I'm sure your dealer would be much happier with you if you just paid for the repairs out of pocket. And chances are, you'll probably save money by paying for the 1 or 2 repairs out of pocket anyway.
     
    #6 The Critic, May 6, 2012
  7. dfine1966

    dfine1966 Junior Member

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    Believe or Not I have used Toyota Extra Care in the past, with a few of the Toyota's I have owned. I have never had a problem with my local Service department fixing the problem with no charge to me.

    That said, I know I am going to get both the extended Warranty, (100,000 mile) and Gap insurance. I am also eligible for the Encore program for financing, etc.

    My question was not if I need it, it was that for those who have purchase through the dealer and got it directly from Toyota, what was the cost they paid for the extended warranty and Gap insurance. I just want a basis when I negotiate the price with them. Last time out, I got about 300 off the price they were quoting me, and wanted to know what the lowest price someone got.
     
    #7 dfine1966, May 9, 2012
  8. Ray Sylvester

    Ray Sylvester Junior Member

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    #8 Ray Sylvester, May 25, 2013
  9. Ray Sylvester

    Ray Sylvester Junior Member

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    gap insurance$ 28.00 a year with allstate
     
    #9 Ray Sylvester, May 25, 2013
  10. woppa

    woppa Junior Member

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    My gap insurance from toyota was $170. Thats for the entire 5 year loan. When he started quoting me prices for extended warranties and lojack etc, the payments went up like over 100 a month more than what I am paying for just the basic warranties. Seemed ridiculous, I didnt even ask him to break it down for me, I just told him I want nothing extra except gap insurance.
     
    #10 woppa, May 27, 2013
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