Is an vehicle protection plan worth it?

Your price is in the ballpark.
Some of the electronic components cost several times the cost of your protection plan.
Do you feel lucky?

 

Roll the dice, don't buy into them.


Rob43

 

i don't think so, but there is always that one in a million chance that something expensive breaks that is not covered under the standard warranty, but is covered under the extended warranty.

prius is not like a refrigerator, where the extended warranty almost always pays for itself

 

I picked up a 7 year 125,000 Toyota plan for $1295.00 for my 2018 Prime. I also used the cash out from another cars plan. Cost me $175 out of pocket. It was a no brainer.

Steve

 

I resisted all the "extras". I'm sure things could happen that are not covered in the standard warranties but have never had one with the wife's '06 (now at 210K miles) or my 2004 (totalled in 2012 at 130K) or the 2009 that replaced it (totalled in Feb at 140K). In fact I've never had anything that an extended warranty would cover with any car I've owned - '69 VW squareback, '78 Celica, '86 Mazda 626 GT, '95 Honda Odyssey followed by the Prii.

 

OK, are there anything that is covered under the extended warranty that is not covered by basic warranty during first 3 years 36k miles? I thought extended warranty kicks in only after standard warranty expires. It is an insurance plan that favors the odd for the seller. With classic "bathtub" curve of failure rate model, Toyota cars has such a low constant random rate of failure happening in between 3 yeas/36 kmiles -10 years/120 kmiles, the odd is always against the buyer.

 

no one knows how the extended warranties work unless they have it in front of them. and then, you have to be a lawyer

 

I read somewhere that extended warranty does not cover "shiny" parts or something like that. lol Even the small prints, if provide, are difficult to understand. When I purchased 2014 Pathfinder Hybrid from a dealer recently, they offered me a third party extended warranty that covers "EVERYTHING" for whooping $6,000. Everything included not only mechanical and electrical parts, but also body paint, seat upholstery, tires and wheels. I asked for a detailed information, but all they had was a glossy pamphlet that did not spell out anything. I courteously declined the offer.

 

even the toyota warranty is not understandable to most people, in eluding me. usually, you just bring it in and ask. if they say no, you pay.

 

Right. Some car passes and tosses a rock onto your hood and they are going to pay to fix the paint chip? And replace the tires when the tread gets low? I can only imagine the "fine print" or the massive deductible per claim. The dealer should be embarrassed to offer something like that without understanding and being able to explain it.

 

I found this doc from Toyota Financial Platinum VSA site: Vehicle Service Agreements | Toyota Financial
emphasis mine

THESE ARE THE ITEMS NOT COVERED:
Accessory Drive Belts; Batteries; Body Panels; Brake Linings, Pads and Shoes, Rotors and Drums; Bumpers; Carpet; Chrome; Clutch Friction Disc and Pressure Plate; Dash Cover and Pad; Door Fabric; Door Trim; Filters; Fluids; Fuel Cell Air Compressor; Fuel Cell Boost Converter; Fuel Cell Electronic Control Unit; Fuel Cell Hydrogen Tanks; Fuel Cell Power Control Unit; Fuel Cell Stack; Fuel Cell Vehicle Battery Pack; Glass (including Windshields); Headliner; Heating Hoses, Lines and Tubes; Hoses; Hybrid Vehicle Battery Pack; Hybrid Vehicle Battery Plug Assembly; Hybrid Vehicle Relay Assembly; Hybrid Vehicle Supply Battery Assembly; Hydrogen Fueling Electronic Control Unit; Interior and Exterior Trim Moldings (including but not limited to: Ashtrays, Covers, Cup Holders, and Vents); Lamps, Light Assemblies/Housings, and Light Bulbs; Nuts, Bolts, Clips, Retainers, and Fasteners; Paint; Rust and Corrosion Damage; Seat Covers; Sheet Metals; Shiny Metals; Spark Plugs; Structural Framework and Welds; Tires; Vacuum Hoses, Lines and Tubes; Weather Stripping; Wheels and Rims; Windshield Wiper Blades (Rubber component); All interior and exterior cloth, leather, and stitching including convertible tops and/or vinyl tops including but not limited to: any vibration, deterioration, discoloration, disfigurement, warping, fading, staining, stretching, ripping, punctures, tearing, and/or scratches

 

As long as electronics are included I’m ok with it. The excluded hybrid items are covered by the longer hybrid system warranty and pollution related warranty.
The VSA also pays a housing allowance from day 1 if your car is disabled away from home. FWIW.

 

With a disclaimer:
Up to $100 per day for lodging and meals if you’re more than 150 miles from home. Maximum of 5 days over the life of your Agreement.

Hummm, if I am traveling with my wife and kids, I will be hard pressed to find a cheap motel where I can eat and sleep for $100 a day. lol

 

Dang, some pretty important parts of my Prime aren't covered!

@Salamander_King use the Hotels.com app to find cheaper hotels. And buy ramen at the grocery store Interesting it is 150 miles from home. If it breaks down 149 miles from home you are supposed to call a cab or Uber for a ride, then call for another to retrieve the car? Of course they won't pay for that. Best to push the car the extra mile before hitting the SOS button.

 

Your Prime runs on Hydrogen?

 

but, but, but... my car broke down!!!! I can't be very choosey where I can stay and what to eat.

 

Maybe Toyota has a deal with Trump properties @ $100/night.

 

Is an vehicle protection plan worth it?
Almost Never.
That's not just me being me again.
EVERY SINGLE financial and car advice column says to 'pass' on this service.
The closest I've seen to a "buy" advise for one of these products came from Clark Howard who said that "SOMETIMES" an OEM extended warranty (a REAL one, not some fake "coverage" plan!!!) MIGHT be beneficial for a single parent in a situation where they are not very fault tolerant where transportation is concerned.

However (comma!) I personally believe that most Prime drivers do not fit this description by the very nature of the vehicle's price when compared to a dependable used mount with money in a repair fund in the bank......so....no.

I'm thinking that it's best to get the refund, and then put THAT money in an account or towards the loan.

....today.