Can somebody explain to me how the coverage on the ECP is different from the (included) Toyota Camry Hybrid Warranty - eg, Basic Complete Vehicle: 3 yrs/60K, Powertrain: 5 ys/100K, Hybrid-related: 8 yrs/160K, Corrosion: 5 yrs/unlimited, etc. - combined with the 3 yrs/60K Roadside Assistance?

If I spend the extra $$$ to buy-into the ECP, what am I getting that I'm not with the above? What am I not covered against with the included warranty? I understand that it's an "insurance" but is it worth the $1K-2K piece of mind? Can somebody that is for getting the ECP please justify. For those of you who didn't get the ECP, what were your reasons for declining?

... I have to make up my mind within a month.

 

Do a search on "extended warranty" and you will find many threads on this subject.

The extended warranty gives you bumper-to-bumper protection for the entire life of the warranty. The factory warranty only gives you bumper-to-bumper for 3yr/36k, and then specific parts of the car (like the powertrain and hybrid components you listed) are covered for longer periods. I bought the Toyota Platinum 7yr/100k/$0 deductible plan for $990. For a first-year model car, I was definitely buying this warranty for bumper-to-bumper coverage. Who knows what types of things might breakdown as the years go by, especially on a new design car? I'm not talking about safety recall type of situations. The rear main seal and the head gasket are two things that come to mind, as I've had to replace those on previous cars right after the factory warranties ran out, and those jobs cost me $3k each.

 

I bought both the extra care and the auto care (which covers all scheduled maintenance through 4yr/55K).

My motivations were to get the costs financed (@5.75%) and locked in at today's prices. I also like the cost certainty for the 7yr/100k miles.

Whether its worth it or not will obviously depend on your personal circumstances (i.e. what claims you make over the life of the warranty) but I certainly enjoy not having to worry about it. The peace of mind for the ~$30/month is well worth it to me.

Perhaps it'll contribute to resale (if that comes into play), perhaps it'll save my **** when something crazy happens mechanically, perhaps it'll never get used at all.

(On a side note: its refundable as well, though prorated based on usage).

 

There is a thread here of Camry Warranty. I had printed off so many pages from all the threads and indexed them that I brought a three inch thick binder in to neogotiate! When the genuine Toyota warranty was offered at $1695, I flipped it open and said I could get the same thing via internet, naming the Toyota dealer, for $990. After a little "conference" of with the sales manager I got it for $990, supposedly dealer cost. Then it was the service contract. He named a price and I just looked right back at him and didn't even have to turn the page to get that lowered. The info here is great and I feel like I owe some people here dinners! Having the information right there and being willing to share it with them seemed to work rather well. Good luck and start getting ready now, my car came in less than 30 days after an estimated wait time of 60-90 days. Surprise! Glad I was ready!

 

I got mine knocked down to $1100. I agree with previous poster, its worth it for piece of mind. It's a VERY rare car that won't have at least one issue between 36K and 100K that will usually get your cost back, if not any lost interest.

 

Let me get this straight, or maybe you can straighten me out if I'm wrong, everybody who opted for the ECP, let's take for example the 7 year option for $900, is actually buying basically:
4 years of extended warranty on the "basic complete vehicle"
2 years of "powertrain"
none for "hybrid-related components"
2 years of "corrosion perforation"
4 years of "roadside assistance"
(based on 7 years ECP minus the standard Camry Hybrid warranty)

Is this correct? Still worth it?

I'd like to hear from those who didn't buy the ECP as to why they didn't?

 

That sounds about right. I'll use $1000 for the baseline.

I'll make the assumption that over the 100k miles at least one interior and one mechanical component will fail (given the number, that's a fairly safe bet).

Since this has happened to me, we'll make the interior item the motor in the passenger side front door (burned out at 45K in my Mirage Sedan two cars ago). Cost to replace, sans warranty, was around $400 incl labor.

For mechanical, lets go with the coolant pump. That went on my wife's Jetta, 49K. $600

(In the spirit of full disclosure, the only other significant issue either car had was a trunk leak on the mitsi due to a bad rubber seal, the Jetta currently has 55K (low mileage runs only now) and the Mitsi had over 80K when I turned it over.)

Assuming prices are constant, I've broken even (okay a small loss given any financing costs or lost investment ability but nothing significant). Anything else breaks? Win.

It's kind of like life insurance. With that, you are basically betting the insurance company that you will die. The reason you do so is peace of mind in case you do. For 1K I know I don't have to worry about any unexpected maintenance expenses until I likely trade the car in. That's worth it to me.

(Side note: Worst case scenario - Blown headgasket and a cracked or seized piston. You are talking 5-6K repair....)

 

If that's the case - isn't it better (more beneficial) to wait and buy into ECP at "24 months/40K" with $150 or "36 months/60K" with a $200 penalty? Doesn't that give you 2 or 3 years of EXTRA warranty at approx. $75/year, assuming the ECP starts when you purchase it and NOT when on the date of car purchase. Anyone know how the start date works?

 

Probably a little cheaper, but I didn't want to bother with it. BTW when you buy it later, you still pay the full price PLUS the penalty, I.E. if you buy at 24, you pay $1000 + $150.

 

It's an insurance plan. Like any insurance plan they have to pay out less than they take in, in order to be profitable. Before the TCH I never took an extended warranty, nor would I have had any repairs that would have been covered.

I wasn't going to take one for this car but I did for two reasons.

1. The new technology (yes, I know HSD has been around in the Prius) and
2. If I don't use it I get the entire amount refunded minus $150. If I sell the car before the end of the warranty period I get a prorated refund if not used.

So I figure I'll either need it or get my money back.