$1650 for 72 month 125,000 mile Warranty. Is it Worth?

What year car did you buy and with what mileage on it? Certified Toyota car or new?

Dejavu

 

If you want peace of mind for 125k miles, it's worth it. Chances are, you'll be better off just not buying it.

But typically dealers make money by selling you an extended warranty. Did it come with a $50 deductible? What you paid seems to be what another member paid just last week when he bought a certified used car. I advised that member against getting it because he already had a 100k miles warranty in his certified used car. Your situation is different and may be worth while to keep since you bought a new car and you have the full 125k mileage duration

For $1650 more, you could've bought a prius three

 

First make a list of what the Toyota warranty is. Then list what the extended warranty adds to it. Make sure to read all of the exclusions and fine points in the extended warranty. Then think about what are the odds of having a major repair during the limited time and mileage that the extended warranty would be in effect, considering also the high reliability of Prius. Also consider that the extended warranty won't take effect until several years from now, how difficult will it be to collect from them, will they make you jump through a bunch of hoops and paperwork to prove your claim? And think about how much the car will actually be worth when the extended warranty is in effect. Put all of this together in deciding if 1650 is worth it.

 

It's a new Toyota. Why would you need an extended warranty? You don't really need to change the oil on a Toyota. Most do it because it's free or for peace of mind.

 

That's right, you don't have to buy an extended warranty until the last hours of your factory warranty. Just reading the OP's story reminds me of why so many loath sales Critters.
.

 

It seems you're seeing this for what it is, hardball pressure tactics.

I never get them, figure they're there to make someone else money.

 

Seems that when the cost was being dropped, so was the the number of months. For you, the extended warranty covers only 3 years- which is not a good deal because you're giving up the years most likely for you to use the extended warranty. For example, my Platinum warranty covers 8 years/125k miles (5 years after the factory warranty expires).

Another way to look at it is you're paying $550/year for the 4th, 5th, and 6th year of ownership- ahead of time, assuming you stay under the miles. With Toyota's quality, odds are you won't recoup the money.

If your Prius gets totaled in an accident, I doubt you will receive a refund. This is not an extension to your hybrid warranty- for me, the hybrid battery plug assembly, hybrid battery, hybrid relay assembly and hybrid supply battery assembly aren't covered in the extended warranty. Uber/Lyft driving will invalidate the warranty, too.

In the past, you had 60 days to change your mind with a new car extended warranty, and 30 days to change your mind with a used Toyota. You'll receive a pamphlet in the mail soon that will spell out all of the details.

 

good points!

 

The insurer has made all the calculations for you. And they arrived at a price that, on average will allow them to make enough profit to satisfy the shareholders. So the odds are stacked heavily against the buyers. Need I say more?

 

At 22k miles a year, then you'd be looking at the extended coverage for years 3-4-5-6. That's $412/year for those 4 years. However, it's likely that you can still buy an extended warranty at the end of your factory warranty.

A helpful board member here linked this CR article over the weekend that showed that Toyota customers were among the least satisfied with their extended warranties, mostly because of strong reliability.

 

That's a very good question, your expected mileage helps you to estimate how long the Toyota warranty will last since at that rate you will be hitting the mileage limit sooner than the time limit. In your case the basic would last roughly 20 months, powertrain 33 months, hybrid system 55 months. While this might seem somewhat unsettling that the Toyota warranty will expire so soon, the flipside is that a Prius of that young age and relatively low miles is unlikely to have any major maintenance issues. That's how these companies make the big bucks, by insuring only the years that are the least likely to require them to make a payout.

You should also apply your mileage estimate to the extended warranty by dividing the miles by 22,000 which will give you an idea how long the extended warranty period will last.

 

Generally I'd say no - it's mostly pure profit - $1650 profit - they're not going to take a risk which will leave them behind the profit eight-ball. I've had it included - supposedly "complimentary" on some of my cars, and never claimed on it. The one time I wanted to, the item was excluded. Find out what it actually covers.

How long do you keep your cars is another question? Most people don't keep cars that long.

The other aspect is that TOYOTA, and PRIUS specifically, are among the most reliable cars on the planet, and as you've realised, the Hybrid system is excluded, as it's already covered by TOYOTA.

Your decision will be - "will I take the risk" - in most cases, the risk is very low.

 

Dump the extended warranty and buy a service plan.

 

When ever they try to sell one of those high profit warranties, I say, Why? Is going to break? I don't want a car that will break.

In the total realm of things 125k is not very many miles for a Prius therefore, you probably won't need it. Yes, they know how to game it otherwise they wouldn't be selling it. Consumer Reports say never buy.

 

I think what you call a service plan (or service contract) is now marketed as an extended warranty even if offered by a third party.

 

We (UK) have 5 years warranty included with the car but servicing (oil change etc.) is separate.