Hi All, I'm a real newbie - joined about 2 hours ago. Looking over the posts about extended warranties leads me to believe I got taken by the dealership. I bought an '04, 25,000 miles Certified Used. Paid $1600 for Platinum Warranty. What have I done? What should I do? I'm 5 days from the 30 day purchase date to cancel? Thanks for a great site!!
Yes, cancel it. You can get the same extended warranty here for less than $1000. Note that you can buy the extended warranty any time in the first three years/36000 miles so there is no hurry. But also consider not getting an extended warranty. There is no car less in need of one than a Prius; it has proven to be highly reliable. Also, extended warranties are priced to make a profit for the seller, not the buyer. If you can afford to pay for repairs out of pocket (and anyone buying a new car ought to be able to) then on average an extended warranty is a money loser.
richard: is that correct? i thought that was for new cars and not certified used isnt the cost of just having a used prius certified a lot
Richard - You're right about there being no hurry and if my Prius holds up like my Camry did then you may be right there too. But when you say the warranties are priced to "make a profit for the seller?" Come on Richard, what can you buy that is not priced to make a profit for the seller? Even in this economy, businesses have to make a profit. Extended warranties are like insurance. If you need them they-re good to have. If you don't then maybe you have peace of mind. They are not for everyone.
Richard, he said he's purchased a used '04. Add 3 years, and the original warranty would already be expired. Moot point. BTW, OUR extended warrany already paid for itself 2x over.
Hi Chuck, I presume you bought a Toyota Certified Used Prius and one of Toyota's "Platinum" extended warranties thereon. So your issues do not involve the extended warranty for a new Prius. It seems to me that you need to find out: (1) what your rights are concerning canceling your extended warranty if you choose to do so, and (2) what Toyota extended warranties can you get from Troy Dietrich of WarrantyShack.com/Toyota of Greenfield, and at what prices. In this regard, I would advise that you call Troy Dietrich immediately. I believe his telephone numbers are: Troy Dietrich General Office # (413) 772-0231 His Direct Dial # (413) 772-0989 Good luck.
D'ohh!! I'm a careless idiot. You can't get the new car warranty for a used car. And of course everything is priced to make a profit to the seller. But you can choose not to buy an extended warranty and thus, *on average*, keep that profit for yourself. For every buyer who came out 2X ahead on the extended warranty there are 20 buyers who didn't use it at all. Guess which group is more likely to post :_>
