Is an extended warranty needed

Rick,
I did not buy the extended warranty even though the 2004 was new technology and there was no repair history at that time. I too have driven Toyotas for years and never bought their warranties. I now have 75,000 miles with nothing but routine maintenance.

The warranty is available on this site at a lot less than the $1600 you paid. You might be surprised at what it does not cover. Check the exclusions and then decide if it is worth the price.

 

I bought a warranty up to 75,000 - after owning the car for more than one year and 20,000 miles I cancelled the warranty and got most of my money back. After not so much as a squeak in 20k miles - I feel perfectly comfortable with the car. I have mild OCD, so if I don't have anything to complain about in 20k miles - it's kind of a big deal. I would scratch the warranty and get your money back.

 

Rick, you have 30 days to cancel the one with your dealer at 100% money back, after that a cancellation is pro-rated.

As seasalsa said, it's a lot cheaper using the link from this site if you decide that you want the EW.
Personally, I wanted the EW and my dealer screwed me too but I went back in and told him I was going to cancel and get the same warranty from another dealer so he wrote a new contract at $990.00.

 

My two cents - get your money back from the dealer. Then just enjoy the car for a while. You have plenty of time to get an extended warranty for a lot less right here on PriusChat.

I waited until I had about 33K miles on our Prius before buying the extended warranty. I bought it more for peace of mind than anything else. I've had Toyotas before, and they last a good long time, but I know that with some of the technology used in the Prius, some repairs or replacements could get pricey, and so - for peace of mind - I went ahead and got the extended warranty. And I'm fine if it turns out that I never use it.

 

I just bought my Prius 3 weeks ago. I was given the "hard sell" by the finance guy there. $1670 dollars for the Gold Premium Plus package or something. That's like $40 a month for 5 years.

I said no thanks. I'm sure I can take the risk after the first 3 years of coverage and put that $1700 to good use. I really couldn't see much advantage in it.

Waste of $ in my opinion.

 

An extended warranty is an insurance policy and like all insurance is priced to make a profit for the seller, not the buyer. To make a profit for yourself, cancel it and buy a bank CD.

If your wife absolutely must have one, cancel the one you bought, wait until the factory warranty is about to expire, and buy the warranty which is advertised on this site. It's the same warranty and it costs $1000. Make sure that you understand exactly what is covered and what is not covered.

 

Welcom Rick007, the search tool is a wonderful thing. The Q's been asked many times before. You don't have to get the extended warranty 'till the factory one expires ... or at least before the last 30 days or so. That said, we bought one and it paid for itself due to the MFD going out, and the ECU that controls the SKS (is that enough abbreviations for you? ) going out too ... both taken care of via the extended warranty. But these extended service contacts are like home owners insurance. Sometimes you pay & pay for nothing, and sometimes BAM, it pays YOU. So, as Dirty Harry once said, "do you feel lucky?"

 

I bought one too, about $1000 after "dealing". I don't think headlights and shocks are covered. They should be normal wear items. From what I've read the dreaded MFD failure is also not covered. If I had known that, I probably wouldn't have bought it. I will have 100,000 in 2 more years. So far NOTHING has gone wrong in 51,000 + miles, since Jan 06. I've bought the warranties on other cars, Taurus, Eagle Talon and Subarus, and gotton the value out of them. The Prius? not sure if that will happen.

 

I don't buy extended warranties for anything anymore. I used to, and in a couple of instances it was a good deal, but in the long haul, and overall, I lost money. It's just a form of insurance, and if it isn't mandatory I'm thinkin' that the insurance company has the odds stacked in their favor, not yours, on average.

When I bought my Prius in December, they tried to sell me the extended warranty and wanted $2000 for it. I passed. I realize it's a roll-of-the-dice, but the car is rated "most reliable" by Consumer Reports, so I'm thinking the odds are in my favor.

 

i think the platinum extended warranty covers the mfd

if it covers the radio, navigation, back up camera system, then i would
assume it covers the display screen

 

I never buy the extended warranty on anything. But then I ran the math for the warranty on the Prius that the pushy financial guy, (not the salesman) was trying to sell me. I can’t remember all of the numbers at the moment, (currently drinking…) but here was my logic.

The deal that was presented to me was that if I didn’t use the warranty, I would get 100% back. If I where to invest the money in my market accounts instead of the car, I would profit about $600.00. This was assuming that the markets would do for me what they usually do. A CD at the bank, would net me about $150.00 over the life that I let Toyota “borrow the money.

In essence, I started to ask myself how much my piece of mind was worth. More than $150.00? More than $600.00? I ended up taking the deal and I am happy with it.

I should also note that this is the first Toyota that I have ever purchased. I don’t know if that changes anything but…

 

Check Prius Online for discussions about premature HID failure. I bought the extended warrantee, and at 60K miles it just paid for itself when mine required HID controller replacement on both sides. It does NOT cover the bulbs, but a "discussion" with Toyota customer care is alleged to cover most of that cost, too. The total for me was over $2K, with the EX-W covering almost $1200 of it (so far).

 

My answer is in my signiture.