I am ready to purchase my new 2021 prime limited and I now have been hit with a vast amount of possible insurance coverages prior to purchase. This car will be a commuter with 140 miles per day round trip M-F. I generally do not buy any extended coverages, but I wonder what anyone's thoughts are on this.
I think you mean extended warranty from the dealer/manufacturer, right? Not "insurance" If so, you won't find many folks that recommend extended warranty. Toyota and Prius are very reliable for the long haul...
Some buy an extended warranty just for the peace of mind, but for the most part, it is a waste of money IMHO. If it's cheap and it makes you feel better, you may consider it. But you have 3 years 36K miles to decide if you need/want an extended warranty. Read those threads for discussions: New Prius Prime Advanced owner - extended warranty/ Toyotacare plus? | PriusChat Extended Warranty | PriusChat Extended Warranty and Service Plan? | PriusChat and more if you search
140 Miles/day x 5 days/week x 50 weeks/year (assuming a 2 week vacation) = 35,000 miles/year Add any weekend trips and the Toyota coverage will only last one year.
Good point. But with that number, even a 100K miles extended warranty will expire in less than two years after that.
Actually, the so-called extended warranty is legally not a warranty. The Toyota Vehicle Service Agreement is...an agreement, a contract for unknown future repairs, in fact a mechanical breakdown insurance policy. Few buy it. Fewer have had the need for it. If it'll help you sleep better if you buy it, check any dealership in the country for the best price. The so-called finance manager is the individual in the dealership that brings in the most profit for the owner. The "warranties" he sells are huge profit items...tire & wheel warranty, the extended warranty, expensive paint sealant, everything else--mostly not needed and always over priced.
I always just tell them empathically not interested. Sometimes they stop right there, sometimes it takes four or five repetitions, sometimes they even get abusive, say you’re nuts to pass on such an amazing opportunity. It passes...
It never ceases to amaze me how first the salesperson hypes the car, and 15 minutes later the finance manager insists that it's an unreliable POS and the dealership sees lots of people having problems with it after 3 years and then they are 'on their own'.
