Is Prius extended warranty ever worth it?

I agree that the insurance analogy doesn't directly apply to EWs for most people, but I can see where JC is coming from. It's simply worth it to some to buy an EW to avoid the hassle of finding a repair shop, paying for unexpected repairs, etc. I still don't get why that bothers you so much.

We all know that dealers overcharge for repairs, but it takes time and energy that some don't have to find a reputable shop to do the work cheaper and at times that time and energy are just worth more than the cost of the EW for some folks. And while average repair costs for specific repairs are great to know, that doesn't mean someone has a reputable shop nearby who will do the work for that price. I come from a small town in WI and I'd have to go 30 miles to Green Bay to find a shop, then do the research to see if they're reputable, etc. And given how many Prius I've seen in that area, I think I'd be hard pressed to find someone, other than the dealer, I'd trust to even change the oil. Now, if I still lived there, it might be a different story, but if I'm traveling and run into a similar situation in Anywhere USA (or Canada for that matter), I simply don't have the time, patience or wherewithal. I carry insurance in case of an accident, even though I haven't been involved in one in over 50 years. $100-$200/yr for an EW in case of a failure is a price I'm willing to pay and hope I never have to use no matter how much profit the dealer makes or how reliable the Prius is. If that's foolish, stupid or feeble-minded, so be it.

 

I'll have to look at the Toyota standard warranties to be sure, but important component warranties stretch out to 60k miles at least, and 100k+ miles for a lot of the car's emissions related components including the hybrid battery.

What is left for the EW to cover ? a ball bearing ? At a failure rate of less than 1% even thinking about spending money for an EW is inane.

 

Yes you can bring it in without a warranty, but that's the same as going to see a doctor without insurance. You can pay cash and see where that gets you

 

Since I do routinely, I can tell you: it nets me a very nice discount.

 

you have no health insurance and pay cash to see the doctor? OK, now I know why you're arguing about this. You are mental!

EWs are not for everybody. I would say I don't even buy it. However I'm still fairly young and capable.

If I were to get older and not as capable, I would probably choose an EW. It's a luxury that is great to have. Consider it a luxury tax. Like having a home owner's warranty.....when you have it and your AC goes out, you pay $60 and it's stress free. If you don't have it and your AC goes out, it becomes a stressful situation.....even if you can afford it.

 

We carry what used to be called catastrophic health insurance. For reasons that are too involved to explain in a post, our monthly premiums work out to be somewhere in the range of $0 - $100 a month. In return, I pay out of pocket up to a cap of about $4000 a person a year. On average we probably spend $1000 a year.

 

I used to carry that insurance until I reached 40. Then the wise choice is not to have a $4000 cap

It's like you read my mind....

Also when you carry an EW, dealers will probably replace worn parts that they normally wouldn't do because nobody would pay for it. In the long run, your car will last longer OUTSIDE of warranty. The more parts you can replace under warranty, means you'll have a less likelihood to do it when it's out of warranty.

 

Since you have trouble with simple interest arithmetic, you will excuse me if I take your assertions of what is wise with a grain of salt.

I am not recommending my health insurance for everybody; I mentioned it because it is one (of only three) insurance offers I have found to be financially prudent. The second is driver liability insurance and the third is home.

 

Financially prudent? Sounds like deferred treatments to save money. In the long run, that will cost more than you think you are saving.

 

You are talking out of your nether regions. To a physician no less. Of course -- you know my health status better than me.

I'm done with this thread.