I am in the process of buying a 2020 XLE hybrid and expecting a call from the “financial guy” who will want to sell me a bunch of extra stuff. Is there anything I should seriously consider. Thanks in advance.
Just as an FYI, my 2007 Camry Hybrid is more than 13 years old and has more than 180,000 miles on it. It hasn't required a single out-of-warranty repair. The water pump was replaced under warranty at 58,000 miles. Other than that, just the rear brake pads, fluids, filters, tires, and a belt or two- all preventative maintenance. It still has the original brake pads on the front.
It's been rock solid from a reliability standpoint.
The hybrid components on a new Toyota has a very long factory warranty- likely longer than any warranty that the dealer can sell you. The overall warranty is 8 years/100,000 miles and the battery itself is covered for 15 years/150,000 miles.
To be honest, I wouldn't be concerned with the hybrid components at all. I'd be more concerned about all of the other electronic stuff that Toyota is putting in their cars now. A lot of it costs a fortune to repair/replace if it malfunctions or needs repair. All of those safety features that are included now- radar cruise, collision mitigation braking, and blind spot monitoring are really nice to have- but cost a small fortune to repair. Worse, if they do malfunction they light up the dash like a Christmas tree with lots of warning lights and messages. The radar sensor on my Accord, if dirty, will cause my car to display lots of different warnings and multiple dash lights will come on that make it look like the car faces certain death. The Solution: get a car wash or just wipe off the front of the radar sensor.
I've purchased the platinum extended warranty on my last 4 Toyotas and have not regretted it. Maybe it's just a peace of mind thing. On the plus side, if you sell the vehicle before the warranty is up it can be transferred to the new owner or new Toyota. If the price can be negotiated, better still. There's just too many electronic gizmos that can break and be very costly to replace. On my last I wish I had not been talked into the tire package. That I do regret, unless of course I actually do get some benefit at some time. Note of caution to self: next time put up deflector shields when you are shunted into "that room" because those finance guys are just really trying to squeeze more profit out of you while they do the job of completing the paperwork.