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Thread: Extended warranty
06-02-2006 03:00 AM #1
I'm taking delivery of my '06 Prius in a few days. The dealer is offering an extended 7 year warranty for $1,940. That seems awfully high. The dealer reccomends the warranty because of the "high tech, expensive electrical componants."Is this B.S., or should I pop for the extra 2 Grand.
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06-02-2006 03:22 AM #2
I wouldn't touch an extended warranty unless it is zero deductible, 100,000 mi/6 years or longer. After that, I see it as simply a question of how much extra you would pay to not have to hassle with the car for the prime of its life.
I've bought the extended warrantee on low-end cars, rather than going with more expensive cars that require less maintenance. If I don't use it then it was payment to avoid the hassle of bringing it in to get fixed. If I do use it then I'm glad it was their nickle, not mine (got a Saturn engine head job done at 95k miles for free).
$1.9K sounds a bit on the high side but it might be worth it.
Also, make sure the warrantee is valid at any dealer and backed by the manufacturer. I've heard horror stories about 3rd party extended warrantees. You should probably check on any gotchas like mandatory checkups and oil changes (must they be done at a dealer?). How often must they be done?
06-02-2006 07:19 AM #3
Yes, be careful of the wording. I sold cars for years and many extended warranties are valid ONLY at the dealership you purchased the vehicle from and require that the dealer perform routine maintenance. Also, most extended warranties are written to the owner of the car and NOT the car itself, making it impossible to pass it on if you sell the vehicle. Make sure the Hybrid batteries are covered if you purchase the extended warranty and be sure you get a low deductible. I did purchase an additional 5 year warranty on my 06 HCH that covers EVERYTHING, including batteries and ALL electronics of the Hybrid system, the Hybrid drive system and basically bumper to bumper warranty for a total 8 years (3 Honda + 5 Extended). Best of luck and be weary of the slick tongued guys!!
PS. I negotiated my Extended Warranty from $1800.00 to $1200.00 as long as I purchased a $300.00 5 year mainentance package, which actually saves me money on routine maintenance. I can use it at any Honda Dealership.
06-09-2006 06:43 AM #4
I just bought an 06 toyota prius and was also offered an extended warranty; it is ofered by Toyota financial services and is good at any toyota dealer, no paper work involved, Toyota is billed direct by the Toyota Dealer. It is called "Toyota Extra Care Vehicle service agreement Factory backed , Platinum version" the dealer gave me a copy of the rates which were:
5year/6oK 6yr/75K 7yr/75K 7yr/100K
$680 $880 $1090 $1780
There was also a $50 deductible version. I too was wondering if any owners of Prius advised taking the extra warranty or not? Any input would be appreciated.
06-17-2006 08:14 AM #5
I'm picking up my '06 Prius tomorrow! I don't know how much they'll ask for the Platinum coverage plan, but I just read some interesting info on the net at http://www.intuitive.com/blog/toyota..._warranty.html. Check it out. I plan to investigate before deciding whether to buy an extended warranty, since I have 36 months or 36,000 miles to do it.
06-17-2006 05:17 PM #6
"The dealer recommends the warranty because of the 'high tech, expensive electrical components.'"
This IS B.S., the most expensive parts of the Hybrid powertrain are usually covered with long warranties, with Honda having an 8yr/80k mile warranty and Toyota I believe to be 100k miles.
Also, Toyota already has the repution for being one of THE MOST RELIABLE cars out there, so unless you plan to own this car for many years (like 15 or even 20), you DON'T NEED the warranty.