Sorry, I've searched a lot on the forum and google. I've seen Gen IIs with transaxle failures (quite costly) and also hybrid system failures in my search. I just purchased a '14 PIP and I got the 7/100 warranty at purchase for $1,250 and rolled it into the 0% financing. I have another 2 weeks to cancel and get a full refund. I've been reading through the warranty info and I'm a bit confused. There are several warranty levels and in California the battery appears to have a 10/150 warranty. With the PIP is there more that could go wrong? It seems these cars are fairly robust but where do the common issues come up? Is the extended warranty worth it with so much coverage as default from Toyota? I'm just confused about what exactly the $1,250 is actually paying for and if it's worth it.
I feel the factory warranty is very acceptable. These extended warranties are a money maker for the dealership. Even financed at zero percent, I would cancel the extended warranty and save the $1250.
I have benefited once in my life from an extended warranty. A keyboard failed on my HP laptop after 2 years, and it was covered by a 3-year extended warranty which I had purchased. But I recognized that it was a rare circumstance, and since then, I have declined all extended warranties. They are based on statistics, and they are a guaranteed money-maker due the fact that most people won't claim them, and the expected lifespan of each product is calculated to exceed the warranty period in most cases.
In California and other CARB states, the entire hybrid system is covered under a 10yr/150k warranty. It is considered part of the "emissions system".
I've only bought an extended warranty one time, and that was on my '06 Prius. I used it once during the sixth year to have the rear hatch struts replaced. The dealer charged $295 against the warranty. ( who knows if Toyota actually paid that much). The struts were $127 each, but if I hadn't had the warranty and was doing it myself I think I could have bought aftermarket ones for a whole lot less, probably saving $ 200 on the pair. So in my case, the warranty didn't pencil out. I was, however, able to use the remaining year plus of coverage as a selling point when I sold the car privately a short time later. Extended warranties are for sure a money maker for the dealers and the carriers. You are paying for piece of mind.
I greatly appreciate all the responses, thank you. I've never been one to buy an extended warranty on things but this is my first hybrid so I'm a little freaked out by all the technology involved. As for the warranty in California and the hybrid system covered for 10 years/150k miles. I thought that only related to the battery?
I think that the 10/150 warranty applies to the battery and the various electronics such as the inverter and control units. The powertrain, which includes the transaxle, is 5yrs/60K. I was looking at the warranty page for my 2012: http://www.toyota.com/t3Portal/document/omms/T-MMS-12PriusPHV/pdf/2012_Prius_PHV_WMG_lr.pdf Exactly what would trigger the battery warranty has been a subject of much concern, since it specifically has weasel words saying that the warranty does not cover gradual loss of capacity. Conjecture is that as long as the car can be operated, even in just HV mode, then you have no claim. Time will tell how this plays out.
I doubt that Toyota would remain in the good graces of CARB if the battery capacity decreases by more than 20%. And the consumer attorneys will have a field day. If it turns out that the LiIon technology wasn't ready for prime time (looking back as if it's 2020), I suspect Toyota will do something to make us whole to avoid another PR nightmare. So, my prediction is our battery anxiety is misplaced.
Sounds like the general opinion is to cancel the warranty so that's likely what I'll do. I can always purchase again up to the 3/36 is up. I've never had a cause to need an extended warranty just got so confused by all this hybrid tech.
The hybrid warranty also includes the electric motors in the transaxle, so any failure related to those should be covered. Mechanical failures, like a bearing failure or crank in the case aren't covered under the hybrid warranty unless you can show the mechanical breakdown is related to issues with the hybrid system.
Hi - In my opinion in this particular case you should not go with the general opinion rather go with how you feel about it. I am not in favor or opposed to extended warranties. As someone pointed out its piece of mind for next 7 years. So in the 4th year if your central console LCD screen blanks out then general opinion won't matter. Also, dealers are known to make 3 times more money to replace any part that you can find at O'rileys etc. So essentially if you are the person who will worry about electronics or electrical stuff going bad, go for the warranty. If you don't care and will face it when something breaks then save your 1250 and buy some stocks =) Hope it helps.
