My Prius Four is 2 weeks old and I'm wondering about getting the extended warranty. How many of you did? How many of you were saved from expensive repairs? I normally wouldn't get one...but there's lots of expensive equipment in this car...
I actually bought one from the dealer on my 2013. Only have 16,000 miles and still under warranty. I was thinking like you, I plan on keeping the car a long time and there are a lot of expensive parts and/or potential for expensive repairs.
I bought the extended 7 year warranty for the drivetrain and bumper to bumper for my 2013 Prius THREE. Looking back I think I made a good decision, I'll have 7 worry-free years. Try to lower the price of the warranty if they let you.
Discounted Toyota Prius Extended Warranty /Service Contracts | Page 81 | PriusChat If you decide to get a warranty, check this link. I had one on my 2005 Prius II had for seven years. I fell short of break even by about 250 dollars. This time just like last time I will wait until I either have 34,000 miles or 35 months on regular warranty. If I think I am having a problem, then I will make a decision at that time to buy or not to buy. Enjoy your new car!
Consumer Reports has done the research. Their conclusion - an extended warranty is not cost efficient.
It's a hit or miss, at least you have peace of mind in case of emergency. I was not planning on getting it but the Finance person told me you have Prius Five, navi, heads up display, PCS, and others.
And in 90000 miles I haven't had any problems. On average, if the extended warranty is a good deal for the buyer then you shouldn't buy the car and the dealer wouldn't be selling the warranty.
I think JimN hit the nail on the head. Warranty companies know that on average you will cost them less than the warranty earned them in revenue, just like insurance. Every time a sales person tries to sell me one for a new or used car I tell them no. I usually get them to stop pushing when I say that you are trying to sell me a warranty on my car with 30k miles that covers 35k miles, etc, so your telling me you think the car is going to have a thousand plus dollar repair by 65k? If that is the case you can keep your junky car!
No issues in 90k miles here. It is foolish to insure (or purchase a warranty) anything that you can afford to replace.
