newbie confused about extended warranty,

We just purchased the extended warrantee for our 2007 Camry Hybrid, mostly because I've already racked up 33,000 miles on it, and the factory warrantee was getting ready to stop. I’m planning on doing the same thing to my Prius in a few months, when it’s mileage starts getting up there. I’ve had the Prius for a little over one month, and it’s just getting ready to roll over to 3,000.

I used the Toyota of Greenfield folks for the purchase. Only 990 for the 7 year / 100K $0 deductable, for either the Prius or the Camry Hybrid. We’re covered for the hybrid components past the normal, along with California (I think what I read said all of the New England states are now under the same coverage).

But with driving over 24K a year, just back and forth to work, we figured it was worth the price.

Brian

 

At the rate, I'm going 6000 miles in 60 days, I'm wondering if anyone has a 2 year 200,000 mile warranty. LOL

My wife and I are pretty certain we will pass this car along to our daughter in 2 years and at that time look at an extended warranty based upon the mileage and how I feel the car is doing mechanically. For some reason it seems like a trouble car is a trouble car and a trouble free car stays that way.

In two years you'll know if you were hard on it or if you babied it. Be honest with yourself and the decision should come easy.

Another consideration is whether you plan to trade in or sell yourself. A person off the street will find value in a transferable extended warranty but a dealer probably won't give you any better trade for it.

 

<div class='quotetop'>QUOTE(PearlDriver @ Oct 3 2007, 03:19 PM) [snapback]520762[/snapback]</div>

Yes, but if you trade it in and the dealer doesn't care about the warranty (as he probably won't) you can just cancel the warranty and get a refund. I just recently had to do this. I was able to do it all over the phone with no trouble at all. I bought the car in Feb. 2004 and it was destroyed on 9/5/07 with 45,100 miles on it. I got back $490 of the $985 I paid for the platinum 7/100,000/$0 warranty. Not bad, all things considered.

Yes, I know I only got 6 months of actual coverage out of the warranty, but it was still good to get SOMETHING back and I would have been glad to have 4 more years of bumper to bumper coverage if it wasn't for the accident.

 

I bought the extended warranty for my previous vehicle (a VW Beetle) and the warranty company was really sick of hearing from me by the time it was all over. They lost a bundle on me.

That's because VW makes terrible vehicles, however. I'm hoping for more from Toyota (I ran a Tercel into the ground ages ago).

As long as I can pick up an extended warranty later, then I don't see any reason to get one at the time of purchase. Hopefully I'll have an idea of how many things are going wrong at that point. Thanks for the info, guys.

 

<div class='quotetop'>QUOTE(snakeman @ Oct 2 2007, 06:58 AM) [snapback]520205[/snapback]</div>

Well I successfully canceled my $1,650 coverage (might have kept it if it weren't for being only 24k miles about 14 months the way I drive) on my used purchase. However, live and learn, my payment quote of $285 went to $314 a month due to the service contract being tossed into the financing, and although I heard the finance girl say that I could change my mind on the purchase of the service contract, no mention was made about this:

They don't take that out and put through the financing w/out the cost of the contract! Instead they proceed with the funding of the car loan WITH that amount included, then send the pro-rated refund back to the lender to reduce the loan balance.

So I was looking for a $285 a month payment but get a $314 a month, granted with a few less payments than the 72 month term. At least I won't be paying interest on that contract amount, Yippee.

Learn from my mistake, pass on the dealers extended warranty offer, get it on your own.

Which brings me to the still unanswered question I posed earlier in this thread... any USED Prius discounted coverage for 2004 over 100k miles available out there?