jonmanch

Thanks, Elliot

lesz

That sentence presents, I think, a somewhat distorted picture of reality. The original Lexus warranty covers the entire vehicle for 4 years. If you have an ES300h, the hybrid components are covered for 8 years, and, the drive train warranty covers a good amount of potential expensive repairs for 6 years. Thus, the alleged 8 years of "worry-free driving", depending on what might need a repair, is only giving you somewhere between 0 years and 4 years of extra worry-free driving, but you are paying for it, if you buy it when you buy the vehicle, years before you could possibly need it. When you consider the true amount of extended coverage, the cost comes out to be more like $60-80 per month. Further, if, after the factory warranty expires, you should need a repair, you then need to hope that the fine print in your extended warranty (and, yes, it is there) doesn't tell you that the repair you need is not covered or is only partially covered.

While auto repairs can be expensive, modern cars are more dependable than they ever have been. If I think about all of the cars that I've bought in the last 25 years, the total of what I've paid for non-warranty covered repairs on all of those vehicles has been less than what it would have cost me to buy one extended warranty, and the total of non-warranty covered repairs that I've had to make on my 6 Lexus and Toyota vehicles has been less than $500. Yet, had I bought extended warranties on all of the vehicles that I've owned in the last 25 years, I would have spent about what it would have cost me to buy a new modestly equipped Toyota Camry.

I know that trying to tell someone who has been buying extended warranties is like trying to tell someone that he/she has believed in the wrong god for his/her whole life. The emotional component that comes into play when someone has spent lots of money on something does not allow him/her to even consider the possibility that a case might be made for not having spent that money. At the same time, I would like to think that there is some value for others to see that a reasonable case can be made for spending one's money on something other than an extended warranty.

ElliotB

Lesz, lets revisit this issue on this forum in 7 years and see how we both made out. I truly hope we and others who chose to keep their vehicles for 8 years had no repairs whatsoever and that you saved $1400 and I lost $1400 as all of us will be extremely happy!

ELF32

I agree with LESZ. I equate extended warranty to the casino offering insurance playing Blackjack. If you take it - it makes you feel good knowing you are "protected" but the fact is over time, you make more money not taking it. A casino will not offer you something unless they are sure they are going to make money on it. Same for extended warranties - over time they make money for the seller - otherwise they would stop offering them at the price that they are.

Arty101

Peace of mind can be priceless to some. Otherwise, it could be a roll of the dice, given these cars are like rolling computers, with complicated mechanical and electrical systems. Lexus is a more reliable brand and cost less to repair than most other lux brands.