I want an 8 year Platinum extended warranty, so I am shipping around with dealers across the US. Does anyone know what the dealers themselves pay for it? This knowledge would be a great bargaining tool!
I've never looked into it. But I do know that they are priced so that, on average, everyone involved makes money except the customer. Otherwise, they wouldn't offer it.
Agree Auto Service Contracts and Warranties | FTC Consumer Information Unless it is Manufacturer backed, I would keep well away from it. Here, they're almost only ever available at the time of purchase of the car via the selling dealer - unless they have a heavy mark-up $$$€€€. I'd particularly wonder about 8 years - which, on top of the Factory Warranty of 5 (?) years - is 13 years. Almost nobody keeps a car even 8 years, let alone 13. We may not even be driving Petrol cars in 13 years, the way things are changing. And the PRIUS Battery (and drivetrain?) is already covered by an extended warranty by TOYOTA - 8 (or 10?) years. Disadvantages - most only are applicable for the original owner - so if you sell the car for whatever reason - it's lost. Also, if the car is written off in an accident, end of warranty - no payout. Any I've seen insist on TOTAL service records - miss one or too late, warranty is ended. But worst - they have $$$€€€ limits on claims - and they're always to the advantage of the Warranty Company - many minor items are excluded, and, if it did happen to be an engine, gearbox - one claim I heard about they only paid about half of the engine rebuild. With PRIUS topping the reliability statistics, I wouldn't bother - but then - it's your $$$$. Auto Service Contracts and Warranties | FTC Consumer Information
You can buy Toyota extended warranties any time up to three years after purchase, and it can be transferred if you sell it. You can cancel it any time.
Where? Here is the brochure they sent me: https://www.sc.toyotafinancial.com/web/tfs/pub/contents/vsa/TFS_VSA_Platinum_VSA_eBrochure.pdf
Save your $. The factory bumper to bumper will cover anything that fails during the initial few years. The Federal emissions warranty will cover other expensive components for longer, and the Toyota hybrid/battery warranty will cover you even longer.
I apologize in that I think I posed my question in clearly. So, the dealer pays Toyota for the extended warranty, then sells it to customers. I am asking, how much does the dealer buy it for, from Toyota?
I think you're asking a question they won't tell you - and possibly aren't allowed to divulge. Like a Brake Rotor - their price is their price - the price they pay TOYOTA is generally regarded as between them and TOYOTA. You might be able to negotiate a discount - but they're not going to be telling anyone what they pay for it. It could also be Commercial in Confidence - but not sure.
With a Prius and its general high level of reliability you'll lose money on an extended warranty. You're better off putting aside those $$$ as a fund to fix whatever random things happen after the factory warranty imo. If the car has frequent issues, then you're better off selling it I think.
For anybody reading this searching for information on an extended new car warranty, I would like to share the name Jerry Johnson at Midwest Toyota in Hutchinson Kansas. If you bought the car new, and you're within the three year, 36000-mile range, give him a call. They don't mark up their ToyotaCare warranty like a lot of dealerships do. If you bought the car under a Toyota certified (TCUV) program, you got to buy the warranty at the time of purchase.
