antoniosp1

I just purchased a 2014 GS350 with 18k miles for $40k. Car has original warranty until Dec 2017, and the CPO for another 2 years. Dealer is offering me an additonal 2 years (no mileage cap) for $1,400. Is it worth it?

joedaddy1

iTrader: (1)

so warranty until Dec 2021 for $1,400? almost 6 more years form now for $1,400.. might not be a bad purchase....

wonder if it'll cover suspension parts that usually wear out around that time...

mrkwinning

If your car is a CPO, then there is already an unlimited mile warranty built into the new updated plan. I think they are offering additional warranty on top of that when you are in the finance office.

antoniosp1

Yes this is additional 2 years from the finance office that was offered on top of existing one that will expire Dec 2019. Is that worth it?

joedaddy1

iTrader: (1)

unlimited mileage? how much do you drive a year?

if you are going to break 100k miles.. i would do it.

mrkwinning

According to multiple sales rep that I spoke with prior to my purchase last month, the CPO has a 2 year unlimited mile already built into the CPO warranty. So depending on your existing warranty, the minimum amount of warranty you will get without the extended is 3 or so more years. For me, I'm not sure if I will keep this vehicle past that time or not so paying another $1400 may not be worth it.

I would double check with you rep and ask about the CPO being unlimited miles. I think the finance person is just trying to pull a fast one on you.

mrkwinning

If you do decide to purchase the extended warranty, try to pay for it outside of your loan since they may try to include in in there. It may only be about $24/month extra but depending on your term/duration of the loan, you may be paying more in interest.

Good luck and congrats on the purchase!

antoniosp1

Rep said that it's a new program they rolled out which has no limit on miles. I honestly don't I will reach the mileage limit even if they had one, it's more if it's worth having it for 2 additonal years. I am still trying to decide. Not sure I will have the car past 4 years, but I thought if I have the CPO coverage for 2 more years it may sell better to private party knowing car at that point has 2 more years warranty. It will be included in the financing rate is 2.49% so prefer to do that since I can make more investing the $1,400 than paying upfront.

mrkwinning

That's interesting. I spoke with a few different Lexus dealer and they all told me that the CPO has unlimited mile warranty. It would be strange if they had already changed it.

As far as using the $1400 for extended warranty to increase value to sell, that may be a good idea and to have the piece of mind. With the finance rate being 2.49%, that is a great rate as well.

antoniosp1

oopps I just noticed I made a typo. Should have said that CPO warranty has removed mileage restriction and it's unlimited.
Yeah it's more for resale and/or piece of mind if I decide to keep longer than 4 years. If I sell before then as trade-in I can always cancel it and they proprate refund. (did the same with my previous mercedes and got 1600 out of 1900 refunded).

mrkwinning

If you are considering it, I would negotiate that number. From my experience, anything offered to you during finance can be negotiated just like the car. I would start at $1000 and work your way up if need to.

islandbeef

Unlimited mileage is only good if you plan to drive this thing into the ground. Being a Lexus, you can do so without fear. But being a Lexus, it does seem kinda redundant so I'd save the extra money and use it for mods or buying a nice bag for your lady.

JDR76

Is it transferable? I would double check that if you are going to use it later on as a selling point.

antoniosp1

It's transferable and also refundable, prorated of course if you into the year 2 period

AJLex19

I was offered something similar when I purchased my car - didn't feel it was worth the cost even if I was selling to a private party because of the overall reliability with this class of car.

The GS is a very reliable car and if you're getting one with only 18k miles, it will take you a few years to get that mileage to a point where the more $$$ repairs start coming in...in my experience, the more costly repairs start happening after 80k.