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Discussion Starter · #1 ·
So, I just got my Prius this weekend and the dealer was trying to get me to buy the Toyota Extra Care Platinum Plan thing...but I wasn't sure if it was worth it to spend $1,100 extra on it. I was just wondering if anyone here knew if it was worth the money or if the dealer was just trying to sell me something I most likely won't benefit from...
 

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You have plenty of time to research them and pick a more reasonably priced one. There are threads on here about them that you can search out and read.
 

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Well, I always buy the extended warranty, and for the past 15 years I have always saved money by doing so. I buy the one for the longest time/distance coverage that is offered. In the case of our Prius, that is 7 years, 100,000 miles. I paid $996 for this warranty.

The last one I bought before this one was for a Lexus SC300. It also cost around $1,000 and covered the car for 8 years, 100,000 miles. With this one, however, I saved well over $13,000 in repair costs, as the Lexus was the worst car that I ever had. It was with a great deal of doubt and trepidation that I bought another Toyota product.

I have already been ridiculed on this web site by hyperion for having bought the extended warranty. Nonetheless, I think it is a good idea, and they have always saved me money.
 

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Boy did you pick the wrong guy to pick on for extended warranties. I would not have driven my Prius away from the dealers without one and I have often posted if I could afford just one option on my car including "smart key" the extrended would still be my number one choice. And that extended Platinum will not cost you one dime more purchasing it the day you get your car than it would in three years and with the extras that come with it along with the piece of mind that everything is covered from day one it's a bargain. Also at the time of purchase it can be financed with the car and the payments "rolled over" with the cost of the car. I was offered and payed $875.00 for mine by my dealer with no negotiating.
I believe the Prius is so different from a standard machine that any thoughts of Toyota reliability can be thrown out the window when considering a hybrid. They are going to cost someone, and already have, a lot of money during it's lifespan and I would just as soon it be Toyota.
I also have no idea where all this Toyota reliability has developed. Every time I've had my Prius in for it's recalls or routine service in the past two years, I find all 40 of my dealers bays full of Toyotas being repaired and they all can't have been brought in for routine service.
 

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I avoided it. I have about 42,000 miles on it and it is the most trouble free car that I have ever owned. I don't regret it for a minute. On average, they are a money making proposition for the company selling the warranty and thus a money losing proposition for the person buying them. The same can be true of any insurance, however. So this is one thing I wouldn't ever want to tell someone else what they should do. If you convince someone to buy one and they never needed it, you wasted their money. If you convince them not to and they get socked with a big bill, then you wasted their money that way. I think you just have to do whatever makes you sleep best at night.
 

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That's the biggest point about the warranty. In the case of Toyota's platinum we all know the book lists I believe $1600 as MSRP and that's the figure I would guess that the "bean counters" at Toyota figured for a "break even" or "profit" for the program. Someone also posted that the warranty costs the dealer $650.00, so anything above this figure is a profit for the dealer.
Now add up the cost to Toyota for the recalls alone since 04 and then the parts that have been replaced and posted here and I believe by at least next year you will find the cost of the Toyota warranty rising to the $2,000 mark I bought the "THREE" service manuals for the car and realize that this is the most complex thing running around on four wheels that has ever been built. It's a computer nightmare and I guess that's why I personally am so adament about purchasing the extended. With this car I believe that all any extra knowledge is a drawback.
Between you and me I like that "loaner car" for extended periods very much and for what you say, whatever makes you sleep better.
However after one set of unexplained immediately "Red Lights" or an unexplained shutdown with a tow to dealer episode with my car and "adios" Prius.
I really doubt we will find any other manufacturers actually going hybrid in the near future. A lot of press releases but no actual cars, or if any, very few.
 

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I bought the Platinum extended warranty for the 'peace of mind' factor but also because it is transferrable and should more than pay for itself when I sell the car or give it to one of my kids.

Cheers
 

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curse said:
but also because it is transferrable and should more than pay for itself when I sell the car or give it to one of my kids.

Cheers
I think that is a good reason if you plan on selling the car within the warranty period. If you are going to put over 100,000 miles on it, then you wouldn't be thinking about resale value of the warranty.
 

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hyperion said:
But there would be a lot less than the thousand bucks spent value to the car after the three years.
With a car like the Prius, it's almost a no brainer unless you are the type that can't lose at Vegas.
Put me in the "no brain" category. I'm taking my chances with Toyota reliability and commitment to quality. I take the recalls as evidece that any problem that happens with frequency will be covered out of warranty. I will take that $990 and go to Vegas and see how I do there.
 

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hyperion said:
And that extended Platinum will not cost you one dime more purchasing it the day you get your car than it would in three years...
Not true for me. It would become unavailable to me a little after one year.
Remember, you still have a 36K miles limitatiion too, not just time in years of ownership.
 

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Would someone post which dealers are selling the Platinum for around $900 US? I've read about it on several forums but it would take me hours to find it again.
 

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And if you can't buy a US warranty for a Canadian car, which actually wouldn't surprise me, then call around to a number of Canadian dealers and see what they will do for you.

This is a no brainer sale for a dealer. Plus, there are always incentives from Toyota Motor Credit, who offers the Toyota warranties in the U.S., to dealers for pushing warranties.

If a dealer is smart they will discount the warranties at the time of sale, like selling them for $100 over cost. Sure, they don't make a lot of profit, but they are more likley to sell extendeds at such huge discounts, which gives you brownie points with the TMCC and your regional management.
 

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StarryAira said:
I was just wondering if anyone here knew if it was worth the money...
I was wondering if you knew that you can decide later? In fact, you can wait until the 36/36,000 bumper-to-bumper warranty almost expires before you decide. The other cars for which I have bought extended warranties require you to decide immediately (or at least the dealer's guy says that you must). I think it's pretty nice of Toyota not to try to force it down your throat "right now" or else lose your chance forever.

The price you were quoted seems to be a pretty good one, but someone on this site offers the same warranty for $996, I'm almost certain.

Do let us know what you decide.
 

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Discussion Starter · #19 ·
Thanks so much for all of your responses! They have totally helped me decide...I think that I am going to get the warranty since there seems to be more volatile components in the Prius than in the average car.
Plus, I LOVE this car!! So while it's not exactly a "good" deal, I suppose that it's worth the money to give me the peace of mind that it will be covered past 3 years/36,000 miles...
 
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