Toyota Extended Warranty is it worth it for a 2010?

It's too soon to say what will break. Most of the cars are just beginning to go out of warranty now.

So far on the forum, we've seen hub failures which are quite pricey. We also had a center console break, but that would not be covered.

Statistically the 2010 is definitely a higher risk car than a 2013 or 2014, so it is up to you if you will be able to self-insure for those failures, if any.

Generally I've found that those who accumulate a lot of miles in a short period of time have very few issues since I suspect that time and duty cycles has an effect.

Considering the number of miles that you already have, a 6/125 policy is probably the best value if you were to get one.

 

Where does one go to get that "6/125" extended warranty?

 

We have sponsors on this forum but I have personally recommended Jerry Johnson at Midwest Toyota to our family friends with great results.

 

My Prius just hit 30,000 and I was thinking about getting an extended warranty, until my friend pointed out that Toyotas are so reliable that it's very unlikely that the extended warranty will pay for itself.

One of my rear seat belts broke and they replaced it. That's all in 30,000 miles.

 

Extended warranties should not pay for themselves, on average, or else the extended warranty company will go out of business.

On the other hand, I doubt Toyotas are more reliable than the average car on the market today.

My friend's 06 Prius needed an axle seal, water pump and a new nav screen by 85k. If the repairs had been done by the dealer out-of-warranty, the cost would have totaled nearly $2500.

 

I am pretty certain that Toyotas are more reliable than average. More reliable than GM/Ford/Chrysler/Volvo/Saab/BMW/Nissan. Maybe tied with Honda.

 

It's interesting you say a Prius that accumulates a lot of miles on it in a short time is a GOOD thing, in terms of reliability.

I'm about to test drive and hopefully buy a 2010 Prius II from the Hertz Rent2Buy program. It has 53,000 miles. I realize that is extremely high, so I'm a little worried, but your comments give me some hope.

Does anyone know how late in the 60,000 mile powertrain warranty period one can purchase the extended warranty?

 

You cannot purchase an extended warranty after the 3/36k period.

However, if the vehicle was enrolled in Toyota's certified pre-owned program, you have the option to purchase a "wrap" coverage that increases the bumper-to-bumper coverage to match certified pre-owned program's 7/100k powertrain warranty.

A lot of the BMW guys used to bring their out-of-warranty cars to the dealer to have them "certified" so that they'd have an extended warranty that would not otherwise be available. However, on a Prius, that they may be cost prohibitive.

I personally believe that high mileage, young vehicles are better candidates because the components have not been subjected to as many duty cycles. For instance, the a/c compressor on a 60,000 mile old 2010 Prius has been used a lot less than a 60,000 mile old 2005 Prius, as an example.

 

Extended warranties are like gambling: in the long run the house always wins. An extended warranty is just a form of insurance. By purchasing the warranty you are betting that your individual car will fail more often than normal. Usually you lose that bet.

There are really only two reasons to purchase an extended warranty:

1) You can't afford the cost of a major repair. If you can self insure, it will be cheaper in the long run, but if you are unlucky you may take a big hit all at once. This is a form of catastrophic insurance protection.

2) Peace of mind. Some people are willing to pay more up front for the privilege of not worrying. It will probably cost you more than otherwise, but you won't have think about it again once the check is written.

Is it worth it? It's up to you.

Tom

 

If the OP is going to buy a Platinum plan, the most important thing is to shop for a good price. I think he can get on through PC but don't remember where the link is. Dealer prices usually are outrageous.

The gamble is more in the owners favor than most people realize. If you go into a dealer with a broken widget system out of warranty, your odds of getting hosed by the dealer are much higher than Toyota's extended warranty operation getting hosed by the same dealer.

Because of that, it is entirely possible for Toyota to sell a an extended warranty for less than the average consumer would pay if they went to the dealer on their own. Whether that is the case or not, I don't know, but the coverage I bought would easily be justified by one significant problem.

OTOH, if you do your own work or have a reputable private shop, then a warranty makes less sense.

 

I bought the 7 yr/125,000 extended warranty when I purchased my 2010 Prius III new. I've reached ~103,000 miles with 90% freeway driving in sunny California. The only things I've needed are regular maintenance (engine oil, transaxle fluid, and coolant changes). I did have one of my headlights go out, but that's not covered under the warranty. I don't think anything major is going to break during the remaining coverage, so I don't think the warranty is worth the price.

 

I recently bough a 2010 Prius III with 55k miles, it does not qualifies for the Toyota extended warranty (over 36k miles) so I'm thinking of buying after-market extended warranty. I'm a little afraid getting over 60k miles and loosing Power Train warranty from Toyota without any other coverage. Can you guys tell me which companies and what coverage should I look at for the Prius? So far I've checked WarrantyDirect and AAA, the price for 5 year/100k coverage ranges between $1600-$2400 which is more than Toyota extended warranty which Troy sells here for under $1000. Advise please

 

I researched aftermarket warranties and from the complains online it appears that they are often scams and the one that are not always deny warranties repairs.

 

Yes that's what I'm concerned about, but kind of worried about any big expense for repair.

 

Based on your latest post the warranty was certainly worth it.

MB860 ?

 

I could not agree more. Do not waste your money. Read the forums. There are very few repairs done on the car. There are many people with close to 100,000 miles with zero issues. I am at 74,000 miles with zero repairs. Put the money in the bank and if something brakes use the money to cover the repair.

 

Look all these items that are not covered.

List of Excluded Components

• Accessory Drive Belts
• Batteries
• Body Panels
• Brake Linings, Pads and Shoes
• Bumpers
• Carpet
• Chrome
• Clutch Friction Disk and Pressure Plate
• Dash Cover and Pad
• Door Trim, Handles and Fabric
• Filters
• Fluids
• Glass (including Windshield)
• Headliner
• Heating Hoses, Lines and Tubes
• Hinges
• Hybrid System Main Relays
• Hybrid Vehicle Battery
• Hybrid Vehicle Battery Module/Pack
• Hoses
• Interior and Exterior Trim Moldings, including but not limited to, Cup Holders, Ashtrays, Covers, and Vents
• Lamps
• Light Bulbs
• Nuts, Bolts, Clips, Retainers and Fasteners
• Paint
• Rotors and Drums
• Rust and Corrosion Damage
• Seat Covers
• Service Plug
• Shiny Metals
• Spark Plugs
• Structural Framework and Wells
• Tires
• Vacuum Hoses, Lines and Tubes
• Weather Stripping
• Wheels and Rims
• Windshield Wiper Blades (Rubber Component)"

Most dealers will tell you that you need an extended warranty because of the Hybrid system is expensive to repair. They will not tell you that the Hybrid System Main Relays, Hybrid Vehicle Battery and Hybrid Vehicle Battery Module/Pack is not covered.

 

He just had his inverter fail yesterday at 114k. Cost was $4000+ and the extended warranty paid for it.

MB860 ?

 

I just read his post. The extended warranty has not covered it yet. This is what will cover it I bet.