Value of Reinsurance/Extended Bumper-to-Bumper Warranties for Lexus?
06-22-04, 01:26 PM
#1
Racer
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Value of Reinsurance/Extended Bumper-to-Bumper Warranties for Lexus?
Bought a 2001 GS430 35k miles in Ohio month ago and registered it in PA.
Today I got a yellow card in the mail from a reinsurance company (Pioneer Warranty Group) underwritten by American Reinsurance Co, no doubt sending cards to anyone who has just registered a car with a factory warranty about to expire.
I called the number and was quoted a policy cost of $1400 to extend the factory bumper-to-bumper to 2008 or 75,000 miles.
The policy covers all parts electrical, electronic, and mechanical excluding wearing parts (light bulbs, brake pads, filters, fluids), rubber hoses, and the exhaust system. Modded cars do not void coverage save on the parts modded; though he was not absolutely certain about engine coverage with chip mods.
Naturally, I asked him to mail me a copy of the policy so I could compare it to Lexus' factory bumper-to-bumper and judge the value. When I purchased the car, I was informed that I can extend the Lexus bumper-to-bumper another two years for $1200 up the day the warranty expires, which is between August and the end of the year.
Do any of you have extended warranties on your Lexus/Lexi?
What is your opinion of the value of $1400 for another four years? (I'm not likely to get to 75,000 by 2008.)
(As an interesting side note, I asked how much policies for other cars cost, and he said that all Lexus models, Toyota Camrys, and Honda Civics have the highest rating when used to calculate reinsurance premiums, thus giving them the least expensive extended warranties. This is an input to purchase decisions I never considered; reinsurance companies know exactly which cars are the most reliable.)
Today I got a yellow card in the mail from a reinsurance company (Pioneer Warranty Group) underwritten by American Reinsurance Co, no doubt sending cards to anyone who has just registered a car with a factory warranty about to expire.
I called the number and was quoted a policy cost of $1400 to extend the factory bumper-to-bumper to 2008 or 75,000 miles.
The policy covers all parts electrical, electronic, and mechanical excluding wearing parts (light bulbs, brake pads, filters, fluids), rubber hoses, and the exhaust system. Modded cars do not void coverage save on the parts modded; though he was not absolutely certain about engine coverage with chip mods.
Naturally, I asked him to mail me a copy of the policy so I could compare it to Lexus' factory bumper-to-bumper and judge the value. When I purchased the car, I was informed that I can extend the Lexus bumper-to-bumper another two years for $1200 up the day the warranty expires, which is between August and the end of the year.
Do any of you have extended warranties on your Lexus/Lexi?
What is your opinion of the value of $1400 for another four years? (I'm not likely to get to 75,000 by 2008.)
(As an interesting side note, I asked how much policies for other cars cost, and he said that all Lexus models, Toyota Camrys, and Honda Civics have the highest rating when used to calculate reinsurance premiums, thus giving them the least expensive extended warranties. This is an input to purchase decisions I never considered; reinsurance companies know exactly which cars are the most reliable.)
06-23-04, 06:23 AM
#2
Pole Position
Join Date: Oct 2001
Location: New Hampshire
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Go with the Lexus Platinum warranty if you want to extend your coverage. A third party cannot extend the factory warranty. Pioneer is not Lexus. Don't be taken in by false claims (no pun intended).
Also, the period of coverage with any Lexus warranty is based on the original in-service date of the vehicle. Ask your service manager to check that date via the VIN and make your purchase anytime prior to that date.
I hope this helps
Murph
Also, the period of coverage with any Lexus warranty is based on the original in-service date of the vehicle. Ask your service manager to check that date via the VIN and make your purchase anytime prior to that date.
I hope this helps
Murph
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