I usually like the Toyota Care extended warranties (7/100K, zero deductible.) but I wonder given the long warranty on the hybrid parts, is the extended warranty still a good deal?

I would think so if you have the moonroof motor fail, or navigation got **** up, but I thought I would see what others thought.

Also, can you cancel and get a prorated refund of the Toyota Extended Warranty before it expiires? I know Honda does this.

 

Many will weigh in on this, but as a rule of thumb, extended warranties or insurance are almost always a very bad bet, economically, unless you either can't afford the cost of the repair down the road or you have a very bad car.
Only you can answer the first part of that equation and no one can answer the second part.
There are one of two likely scenarios, as far as the cost of maintaining the car, either it will have a few problems or it will have a lot of problems.
Given Toyota's overall reputation for quality, does it make sense, for you, to pay up to $1000, or more, today against the more likely probability of $500-800 repairs or maybe the remote possibility of $1500-2500 over the next 7 years? Yes, I know the repairs could be a lot higher, but in many cases it will total less than the cost of the warranty (that's how the company stays in business).
It's an economic gamble.
There is no right answer.
So, to quote Inspector Callaghan, "Tell me...do you feel lucky?"

As to the specifics, you would be advised to speak with the dealer or contact the warranty company directly and ask them the details.

Please also see Buying an extended warranty?

 

Hehe, this is like the proverbial question of car buying...

I got one just because I got a good price (< 700 for 7yr/100k) and figured why not since the technology in this model is "new." I probably wont end up needing it.

Normally I don't buy them.

 

I understnad this point very well (it's a gamble), but my question was more the coverage - since there is extra coverage on the hybrid components already, does that mean the extended warranty covers "less"?

I think one area that is covered is suspension items (struts, etc.) which can actually be a wear out sooner. I have struts replaced twice, a defective CD player twice (Navigation version), and trunk latch replaced on a previous vehilce...would have costs me twice as much as the warranty. So I agree it's a gamble that may or may not pay off.

 

I haven't heard of a repair done by a dealer these days that's much less than $500 (usually more). With labor rates pushing $100/hr ... well, you get the idea. Seeing as I spent $600 for a 7/7K/$0 Toyota Platinum Policy I have satisfied I made the right decision. You can be penny wise and dollar foolish or you can just want "peace of mind". I chose the latter.

 

I would never, ever, use a dealer for a non-warranty repair. They are significantly more expensive than a local mechanic. I looked at 12 years of Avalon bills and they averaged $200-$400 with only two more than $500, none within the first 7 years.

 

I've NEVER had to take my car back after a dealer performed repair. Not so with 3rd party repair locations here.
Some chose to take the high road some chose to take the low road. I guess.
Then again with my extended warrantee ALL my repairs have been "in-warranty" so there is no reason to take my car elsewhere. If my dealer's service dept wasn't top notch I'd have a quandry.
Have many "local mechanics" would I trust with my Hybrid? I think I could count them on zero fingers. But that's just me.

 

I never buy extended warranty as a rule but I did for TCH for following reasons:
1. I like the car and would want to keep it as long as it makes sense
2. Car repairs are becoming so expensive, but at the same time are less and less DIY. Without Toyota code reader, it's very difficult to even have any idea where the problem could be, so if the car won't start I would have to tow it to the dealer just to get the idea where the problem is even if I could get parts at the junkyard and fix it myself later.
3. Mine is new model year for all Camry line plus new hybrid system, similar to Prius, but not exactly the same. We already know there were some common issues like rattling in the dashboard and clicking in the steering or TSB regarding rear breaks.
And that brings me to the question: I know all major repairs are covered under extended warranty, but how about TSB like the rear breaks issue? On one hand it's a wear part and shouldn't be covered, on the other hand with regenerative breaking, rear pads should wear less and last much longer, they won't because of some manufacturing issue.

 

TSB specify which warranty coverage applies. Some are 24 month some are 36 month etc. My guess is since a component hasn't flat out failed a TSB repair would NOT be covered by the extended warranty.

 

I typically drive a car 5-6 years (80-100K miles), and never trade in. I find I can much easier sell a car quickly and get top blue book price when I can offer a factory backed warranty. That is, I think I recoup my extended warranty costs when I sell a car, and that it makes the sell much easier because of the confidence it gives the buyer. That makes extended warranties a good buy for me, even if I never need to use them for a repair. I don't recommend them for people who trade in cars.

-- Alan