I am a new Prius v owner as of Saturday. They are trying to sell me a Value Protection Plan that

No. You already have a 3-year bumper to bumper and 5-year powertrain warranty, not to mention 8-year hybrid warranty.

Save your money, put the money in the bank that you were going to spend on an extended warranty and earn some interest in case you ever need it for repairs. You have a very good chance of coming out ahead of the game.

 

TOTALLY agree with Swanny.

The only thing the dealership guy is trying to do is to pay extra on his his boat payment and buy his wife those new shoes & coat. PASS!

 

+1

 

Value relates cost to benefits--so without the cost, impossible to answer your question.

I'm not a fan of extended warranties--prefer to self-insure. And I'll bet it does not cover everything!

 

If it covers wear items and consumables give it serious consideration. (But it won't.) If the extended warranty is a good idea for the owner why would you want to buy the car?

 

I agree with you. Extended warranties are like an insurance policy with special rules and limitations. They bet that you won't have any problems, and you hope you don't but depend on them to pay if you do.

Having cash on hand and a financial cushion is much better than any insurance policy. That way, you are both the insurer and the benificiary. If you don't need th repair, you keep all of the money that you had spent on the insurance policy. If you do need the repair, there are no restrictions on what will be repaired, since cash covers everything. You won't have to prove that you qualify for the repair within the confines of the policy.

Cash beats any extended warranty. Cash can be used for any repair, not just the car.