Lew270

I own a 07 ES350 with 36k miles. My original warranty expires this August (due to time). Have been thinking about the extended warranty and have read much about them on this site...even nailed it down to a particular dealer who sent me a quote today...

My question:
How many of my fellow brethrens have the Lexus Platinum Warranty ($0 deductible) and actually needed to use it. I know these cars are full of electronics et al which can get costly to repair. How many owners of the 07''s or newer, who have higher mileage (60k-75k ish), have needed costly repairs. I'm thinking I might just take my money, stick it in a high yield account, collect interest, and essentially create my own warranty as opposed to paying around +/- $1,000.00 and wondering if I’ll have repairs that will be greater than that amount over the next XXX years.

jkutti2000

its 1300. for my car which is in the same boat.. ALSO U AND I HAVE THE SAME DILEMMA AND LOW MILEAGE.. I think if the car is in good shape. i will take the risk and hold on to the money and fix it later. i have to think about it,. this OCT. when my car will go out of warranty. and I will have like only 38K miles on it... since it is relatively less mileage . i think I will skip the warranty..

zyvo23

same dilemma. I just bought an 07 with 46k miles and am wondering if I should extend it. Judging by the maintenance records that I have gotten from the lexus website, the vehicle doesn't seem to have a history of problems. I'm leaning toward letting it ride.

I think if the odds were good that the car would have issues, the warranty would cost a lot more.

Richard95

Hopefully you have contacted Jerry in Kansas for the price.

Lew270

Yup...Jerry gave me the quote...If I do this it will be through him, as echoed throughout this forum, he has the best deals out there.

dman00001

It's a well known fact that extended warranties are huge money makers for anyone who sells them. It is in fact a form of insurance, and insurance is based on risk and mathematical odds. I can assure you that the odds are in their favor. That said, some people like piece of mind saying "my vehicle is under warranty to 100k miles" and they're willing to pay the price for that. My research indicates that Lexus quality is top notch and the odds of having anything major before 100k miles (or after for that matter) is very low. To me that says extended warranty is even less needed with Lexus than it is with brands that have lessor quality and are more apt to have failures.

Lew270

Agree...Insurance is a suckers bet that Lords of London created years ago. As stated, mathematically, the odds are in "their" favor...no different than sitting at a Blackjack table and taking insurance on the dealer not holding a 21...they mostly do not (but sometimes they do), but the casino will take your insurance $ because you want a sure thing and are willing to risk more money to do so. They know this and make money knowing it as well...otherwise they would NOT offer it...Same with Lexus? I'm guessing ... a resounding YES

I actually purchased a Lexus as opposed to a MB, Infinity, BMW...because "these things just don't break". I actually have a close friend, who, is friends with a guy who owned a Lexus car dealership (he has owned virtually every type of dealership over the years)...my friend told me that he (his friend) once said that Lexus is the best built car out there. Just a point of reference for all of us.

Also I have to assume that when Lexus offers cars as CPO (virtually extending the warranty) they know something as well. They must know that they are willing to take the risk of minimal repairs...If I were a betting man (and I am), the odds are probably in my favor by not purchasing the extended warranty on a Lexus, (I never take insurance at the Blackjack table either) but create my own warranty fund (i.e. insurance policy) and put the $1200ish into a CD or money market for the sole purpose of spending it on repairs when/if needed...plus collect a little interest in the mean time.

I think I am convincing myself that I’m going to pass on the extended warranty unless folks write back in masses and say they needed that extended warranty. Again, its a personal decision/peace of mind decision for each of us.

jrj102

I had a plat warranty on my SC430, and they wound up doing about $2200 worth of warranty repairs during the time it was in effect. I paid $1200 for the warranty, so it paid for itself but just barely (when taking into account an assumed rate of return on the money.)

Ext Warranties are basically insurance, and they are sold at a profit based on actuarial data. Your proverbial mileage may vary, but statistically-- in aggregate-- the house always wins.

dreyfus

I don't think the car requires the warranty as they are so reliable. However, if something does break you know that it will cost big dollars to repair.

I've over 96K on mine. I've had to replace a headlight bulb and two tire pressure sensors beyond the 50K mark. Otherwise, all is well.

ekwlee

*shrug*..depends on what you are willing to deal with...did you want to save your money now and then deal out the money when you need it to get fixed? or did you want to just pay a set rate and gamble..(it pretty much is a gamble)..that the car will break down..

..we got one for 1300 (platinum warranty was what i wanted but it was out of the question since we bought the car 1 month out of the factory 4 year warranty), and then just last week i took the car in to fix the cd changer...about 500-600 dollars for the cd changer then 100 for labor..soooooo...im still 700 dollars down to make my money worth..but i still have 3-4 years left over in the warranty...

Lew270

I'm actually begining to second guess my position on the subject.

While these cars typically don't break down, and I don't believe this car will leave me stranded on the road somewhere...I need to be concerned about the thousnads of sensors and electronic components (I have the Nav et al). This stuff does indeed break and can get costly to fix.

I'd love to hear from more people before I pull the trigger though...

nyardich

I bought 100K Platinum for my 2007 ES350 and also my 2007 RX350. I paid $1250 for 100k miles for ES and $1000,00 for 75K on my RX which only has 18000 miles on it.
Just got new 2011 ES350 and got rebate of $600 for the ES350.
Never used either, but it sure gave me peace of mind..................
I figure for a $42,000 car $ 1000.00 is cheap insurance and with the interest rates nowadays what interest rate would you get for CD.............
I know its a gamble but I think it's worth it.
I shopped around and got low rate, printed it out and went to my dealer in Dayton and they matched the prices. JMOP............

Lew270

who originally quoted you $1250 for your ES? The best I have found thus far is $1375 (7yrs/100k. I would like to contact your person...

nyardich

I had 50,000 miles on 2007 when I got Quote. Printed it out and took to my dealer in Dayton, Ohio and they matched $1250.00
I got 100K and or 7 Years.

My Email address is : TobyToyota@aol.com
1-800-335-3987

Lew270

Sorry...perhaps some confusion. Would you please post the dealership name and sales person who sold you the warranty so (others) can also contact him/her...thanks