View Poll Results: CPO vs Lexus ExtraCare Platinum warranty
Keep the CPO warranty
2
50.00%
Drop the CPO warranty for the 7 yr / 100K Lexus ExtraCare Platnium warranty
0
0%
Drop the CPO warranty for the 7 yr / 125K Lexus ExtraCare Platnium warranty
0
0%
Drop the CPO warranty for the 8 yr / 100K Lexus ExtraCare Platnium warranty
0
0%
Drop the CPO warranty for the 8 yr / 125K Lexus ExtraCare Platnium warranty
0
0%
You won't need either warranty
2
50.00%
Voters: 4. You may not vote on this poll
CPO vs Platinum Extended Warranty
05-02-16, 12:58 AM
#1
Driver School Candidate
Thread Starter
CPO vs Platinum Extended Warranty
Hello,
I'm currently looking at purchasing a CPO 2014 ES 350 with 12,000 miles and in my haggling with the dealer was presented with the option of removing the CPO warranty (the vehicle has already been certified) to lower the price of the vehicle.
The dealer mentioned that removing the CPO warranty would drop the price of the vehicle by $1395.00.
That said, I found a Lexus dealer who was willing to sell me the Lexus ExtraCare Platinum warranty at the following prices:
7 yr / 100K - $1545.00
7 yr / 125K - $1965.00
8 yr / 100K - $1765.00
8 yr / 125K - $2435.00
Given that a 7 year / 100K or 125K goes for $200.00 / $600.00 more than a CPO warranty and should last quite a bit longer, I was wondering whether anyone thinks it would be a good move to drop the CPO warranty for the Lexus ExtraCare Platinum warranty.
Thank you,
Nelson
I'm currently looking at purchasing a CPO 2014 ES 350 with 12,000 miles and in my haggling with the dealer was presented with the option of removing the CPO warranty (the vehicle has already been certified) to lower the price of the vehicle.
The dealer mentioned that removing the CPO warranty would drop the price of the vehicle by $1395.00.
That said, I found a Lexus dealer who was willing to sell me the Lexus ExtraCare Platinum warranty at the following prices:
7 yr / 100K - $1545.00
7 yr / 125K - $1965.00
8 yr / 100K - $1765.00
8 yr / 125K - $2435.00
Given that a 7 year / 100K or 125K goes for $200.00 / $600.00 more than a CPO warranty and should last quite a bit longer, I was wondering whether anyone thinks it would be a good move to drop the CPO warranty for the Lexus ExtraCare Platinum warranty.
Thank you,
Nelson
Last edited by nelsona; 05-02-16 at 01:02 AM.
05-02-16, 05:12 AM
#2
Lead Lap
I would pass on both options.
The CPO warranty is giving you only very minimal coverage that is additional to what you would be getting with the remainder of the factory warranty. You should still have about 2 years and 38,000 miles left on the factory bumper-to-bumper warranty and about 4 years left on the factory power train warranty.
With the extended warranty options, you are adding a little more coverage, but you are also adding more cost.
While, if you choose to go without either option, there is a very small chance that you will incur out-of-pocket repair costs that exceed the cost of either the CPO warranty or the extended warranty, the odds highly favor you not incurring out-of-pocket repair costs that come anywhere close to the cost of any of the warranty options.
Whether it is the CPO warranty or the extended warranty, both are very high mark-up items that generate high levels of profit for the dealership. If you skip such warranties on the next 10 vehicles that you buy, it might be the case that, on one of those 10 vehicles, you would need a repair that would cost more than the warranty cost, it is a virtual certainty that you will be many dollars ahead over the ownership period of all 10 of those vehicles without buying those extended warranties.
The CPO warranty is giving you only very minimal coverage that is additional to what you would be getting with the remainder of the factory warranty. You should still have about 2 years and 38,000 miles left on the factory bumper-to-bumper warranty and about 4 years left on the factory power train warranty.
With the extended warranty options, you are adding a little more coverage, but you are also adding more cost.
While, if you choose to go without either option, there is a very small chance that you will incur out-of-pocket repair costs that exceed the cost of either the CPO warranty or the extended warranty, the odds highly favor you not incurring out-of-pocket repair costs that come anywhere close to the cost of any of the warranty options.
Whether it is the CPO warranty or the extended warranty, both are very high mark-up items that generate high levels of profit for the dealership. If you skip such warranties on the next 10 vehicles that you buy, it might be the case that, on one of those 10 vehicles, you would need a repair that would cost more than the warranty cost, it is a virtual certainty that you will be many dollars ahead over the ownership period of all 10 of those vehicles without buying those extended warranties.
05-02-16, 05:48 AM
#3
Lead Lap
I would pass on both options.
The CPO warranty is giving you only very minimal coverage that is additional to what you would be getting with the remainder of the factory warranty. You should still have about 2 years and 38,000 miles left on the factory bumper-to-bumper warranty and about 4 years left on the factory power train warranty.
With the extended warranty options, you are adding a little more coverage, but you are also adding more cost.
While, if you choose to go without either option, there is a very small chance that you will incur out-of-pocket repair costs that exceed the cost of either the CPO warranty or the extended warranty, the odds highly favor you not incurring out-of-pocket repair costs that come anywhere close to the cost of any of the warranty options.
Whether it is the CPO warranty or the extended warranty, both are very high mark-up items that generate high levels of profit for the dealership. If you skip such warranties on the next 10 vehicles that you buy, it might be the case that, on one of those 10 vehicles, you would need a repair that would cost more than the warranty cost, it is a virtual certainty that you will be many dollars ahead over the ownership period of all 10 of those vehicles without buying those extended warranties.
The CPO warranty is giving you only very minimal coverage that is additional to what you would be getting with the remainder of the factory warranty. You should still have about 2 years and 38,000 miles left on the factory bumper-to-bumper warranty and about 4 years left on the factory power train warranty.
With the extended warranty options, you are adding a little more coverage, but you are also adding more cost.
While, if you choose to go without either option, there is a very small chance that you will incur out-of-pocket repair costs that exceed the cost of either the CPO warranty or the extended warranty, the odds highly favor you not incurring out-of-pocket repair costs that come anywhere close to the cost of any of the warranty options.
Whether it is the CPO warranty or the extended warranty, both are very high mark-up items that generate high levels of profit for the dealership. If you skip such warranties on the next 10 vehicles that you buy, it might be the case that, on one of those 10 vehicles, you would need a repair that would cost more than the warranty cost, it is a virtual certainty that you will be many dollars ahead over the ownership period of all 10 of those vehicles without buying those extended warranties.
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