It might be worth $6.95, or the cost of a can of auto wax, which is what Perma Plate is, but there’s no way on earth it’s worth $695.
Another name for this is “Additional Dealer Profit,” which is all it is.
The finish on your new Toyota can stand up to anything short of a low-yield thermonuclear blast with nothing more than occasional washing and waxing. Put the $695 in the bank and earn some interest.
Everything above goes for “fabric protection,” too. It’s just ScotchGard, and you can spray it on yourself for next to nothing.