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How Did I Do? [Used 2008 Prius]

Discussion in 'Newbie Forum' started by flatlandy, May 12, 2014.

  1. flatlandy

    flatlandy New Member

    Joined:
    May 12, 2014
    4
    1
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    Vehicle:
    2008 Prius
    Model:
    Five
    Hey folks,

    My wife and I finally got our first Prius! Based on what was available around us we felt the deal was ok, but I just wanted to get an opinion from the well informed members here.

    Here's the details:
    • 2008 Prius
    • Certified Pre-Owned
    • 48k miles
    • Appears to be package 5, with leather seats (so maybe package 6?)
    • 1 owner, roughly 7k miles per year, all maintenance done at Toyota.
    • Everything in great shape other than a couple paint nicks here and there.
    • Other: Tonneau cover in back, all weather rubber floor mats.
    • 1 year of oil change, etc free.
    Financials:
    • Car: $14.5k
    • Trade In: About $1500 above KBB, maybe more based on the repairs required and new tires.
    • Extra Warranty [Platinum "Wrap", 5 years/75k miles]: 2.5k
    I feel like the deal on the car was decent, not sure about the extra warranty though. I took it with the idea in mind that if its not worth it ill just cancel it (prorate-able).

    So that's the whole picture -- what do you folks think??
     
    #1 flatlandy, May 12, 2014
  2. JC91006

    JC91006 Senior Member

    Joined:
    Nov 10, 2013
    16,525
    8,428
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    Location:
    Los Angeles, CA
    Vehicle:
    2008 Prius
    Model:
    II
    $2.5k for the warranty is definitely something you should cancel. If anything goes wrong with the car at low mileage, it would be the possibility of the HV battery, which the warranty probably WOULD NOT cover. Anything else that needs repair (won't be much), it'll be way less than $2.5k in that time frame. Of course anything can happen with a used car, but I don't think at your low mileage, you would incur a high repair cost anytime soon.

    Also this car being "certified pre-owned", would have a Toyota 10 year/100k miles warranty already.
     
    #2 JC91006, May 12, 2014
  3. flatlandy

    flatlandy New Member

    Joined:
    May 12, 2014
    4
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    Vehicle:
    2008 Prius
    Model:
    Five
    Thanks for the reply! The one thing that I am not sure about is the 10 year/100k warranty you mentioned. At the dealership and on Toyota's website I only see the 7 year/100k warranty. And since this car has been in operation for 6 years 7 months, it only has 3 more months of that warranty left.

    Am I missing something?
     
    #3 flatlandy, May 12, 2014
  4. JC91006

    JC91006 Senior Member

    Joined:
    Nov 10, 2013
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    Location:
    Los Angeles, CA
    Vehicle:
    2008 Prius
    Model:
    II
    My mistake, it is 7 years.

    you have 5 more months left (12 months in a year) and during that time if nothing goes wrong, it most likely won't go wrong for another 50,000 miles. The warranty for $2.5k most likely doesn't cover the most expensive common failure on this car, which is the HV battery. All other components hold up quite well until 150k miles.

    In your case, buying certified pre-owned only gave you 5 months of additional warranty. Seems like an expensive certification for only 5 months.
     
    #4 JC91006, May 12, 2014
  5. bisco

    bisco cookie crumbler

    Joined:
    May 11, 2005
    110,144
    50,053
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    Location:
    boston
    Vehicle:
    2012 Prius Plug-in
    Model:
    Plug-in Base
    welcome to priuschat! i don't know where you are, but in our area, that's a very good deal. congrats, all the best!(y)
     
    #5 bisco, May 12, 2014
  6. flatlandy

    flatlandy New Member

    Joined:
    May 12, 2014
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    1
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    Vehicle:
    2008 Prius
    Model:
    Five
    Thanks bisco! We are in CT.

    The 7 year/100k limited power train will only give us 5 months (thanks for fixing my math!), but the included bumper to bumper 1 year warranty is a peace of mind thing for it being a used car.

    I will need to look into the extended optional warranty though to see what portion of the EV system are covered. The way I see it, we have 1 year included already. With the mileage we do the extended will most likely only cover for about four years. So essentially we are paying 2.5k for three years. At the same time, since we are in a CARB state I think the battery is covered under the state emission warranty for 10yr/150k miles, and other components for 15yr/150k miles (Anyone have more info on that?).

    With all that in mind, I think I will be cancelling that optional warranty.
     
    #6 flatlandy, May 12, 2014
  7. JC91006

    JC91006 Senior Member

    Joined:
    Nov 10, 2013
    16,525
    8,428
    0
    Location:
    Los Angeles, CA
    Vehicle:
    2008 Prius
    Model:
    II
    I think that will be a wise choice. :)
     
    #7 JC91006, May 12, 2014
  8. flatlandy

    flatlandy New Member

    Joined:
    May 12, 2014
    4
    1
    0
    Vehicle:
    2008 Prius
    Model:
    Five
    I've only been a member of the forum for a few hours and I have already saved $2500... Don't think I could ask for more than that!

    Thanks JC!
     
    #8 flatlandy, May 12, 2014
    usnavystgc likes this.
  9. jose.reyes.0579

    jose.reyes.0579 New Member

    Joined:
    May 28, 2014
    10
    0
    0
    Location:
    Roseville, California
    Vehicle:
    2010 Prius
    Model:
    IV
    Good call on canceling the warranty, when I bought mine I had them down to $1500 for the 10 year and it still just wasn't worth it. These cars are rock solid. In 6 months over 15k miles and just a oil change and tire rotation!


    iPhone
     
    #9 jose.reyes.0579, May 28, 2014
  10. lar.smith42

    lar.smith42 Active Member

    Joined:
    Jun 3, 2014
    203
    118
    0
    Location:
    Double Oak , Texas
    Vehicle:
    2010 Prius
    Model:
    II
    I just bought a 2010 prius 11 with 45,ooo miles. got the $2500 warranty and it is a bumper to bumper covering battery and everything else other than normal wear and tear. wipers ,tires , brakes. Paid $18000 with warranty which covers another 4 years and 55,000 miles.
     
    #10 lar.smith42, Jun 4, 2014
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