Extended Warranty???

Here's my advice:

-Cancel the plan through your dealer.
-Don't buy another extended warranty.

The Prius is the most reliable car on the road today. The majority of people lose money by paying for an extended warranty. You're essentially gambling that your super-reliable car will require a major repair before getting past 100,000 miles. That said, if you're extremely risk-averse, you should just get the warranty through Troy.

When your dealer says it will be more expensive to get the warranty later on, he probably just means that the price of the warranty will go up by then due to inflation/higher costs (not because your car is 3 years old).

 

First off, your dealer is blowing smoke, the warranty sold on PC is EXACTLY the same TOYOTA warranty, every Toyota dealer should honor it. Dealer is just trying to scare you, so that they can make a bigger profit from you. Just tell them, if you can meet the price, I'll stay with you, otherwise cancel my contract, give me my money. $990 is not a bad deal for insurance, yeah Prius should be reliable, but we buy insurance for everything these days, we just don't have to be swindled on the cost.

 

Your dealer is a swindler and full of hooey.

Assuming that he sold you Toyota's best extended warranty -- Toyota Extra Care Platinum Plan, 7 years/100,000 miles, $0 deductible -- his $2,500 price is way overpriced as it even exceeds the MSRP for the Plan by $650!!!:

Your Dealer: $2,500

MSRP: $1,850

Troy/WarrantyShack.com/Toyota of Greenfield, MA: $990

If you ever want to read up on the Toyota Extra Care extended warranties, you can go to the Toyota Financial Services website where they call the extended warranties "Vehicle Service Agreements". Here's a link:

Toyota Financial Services

My advice is to cancel that extended warranty immediately (within 30 days of purchase) in order to get a full refund. Then wait (you have up to 3 years/36,000 miles) to decide whether to purchase the extended warranty. That way you'll have a better idea of how the car is holding up, and which plan to get in terms of years/miles (you can save hundreds more by going with fewer years or miles).

About the only plus to getting the Platinum warranty now, instead of 3yrs/36k miles from now, is that it includes Roadside Assistance. But I doubt very much that you'll need Roadside Assistance during the first 3yrs/36k miles, and in any event, you may already have it through one of your credit cards, your car insurance, or otherwise.

 

I have a Toyota extended warranty that was $1500 in 04. My 3/36K is up at now 42K. My warranty is for 100K miles or seven years.

I just went into the dealer for repairs on brakes & etc and the bill was $3,245 and was covered by this extended warranty!

At first I received the bill as to be paid by me -- they had failed to enter my warranty, corrected it and I owed $0 = Whew! I question the idea that a Prius is so reliable that you won't need repairs in a 100K miles. Under warranty I have had the entire screen replaced. What if that had failed after 36K?!?

 

I bought the extended warranty from Troy for my 2005. I think that was a sensible move, considering the MFD replacement problems on some 2004 and 2005 models. I feel my 2007 is a better car than my 2005 through incremental improvements; they are both fantastic! Since I have a couple of years and 20,000 miles before I have to decide, I'm waiting on an extended warranty on the 2007, it may not need it. When we trade the 2005 for the next gen Prius, I'll probably get an extended warranty on it since it will be a new model.