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Prepaid Maint / Extended Warranty

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Old 05-21-12, 04:46 PM   #16
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Many years ago, before Lexus even existed, my wife had a Mercedes 300E that was clearly a lemon. As the factory warranty was about to run out, after replacing numerous radiators, starters, alternators, water pumps, etc., etc,, we purchased an extended warranty. The cost of the repairs under the EW were almost identical to the price of the warranty. The people selling them are not stupid.
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Old 05-21-12, 04:55 PM   #17
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Originally Posted by ECL View Post
Many years ago, before Lexus even existed, my wife had a Mercedes 300E that was clearly a lemon. As the factory warranty was about to run out, after replacing numerous radiators, starters, alternators, water pumps, etc., etc,, we purchased an extended warranty. The cost of the repairs under the EW were almost identical to the price of the warranty. The people selling them are not stupid.
Sometimes I feel like I live with a cloud over my head... If I don't have the EW i'll need it, If I have it I won't... I'm fine with having it and not needing it.

Besides if I have it and want to private sell the car at 100k I'll feel good about selling a car that has transferable coverage and the buyer will probably feel better about buying it. Ive never sold a car privately but I'm sure I can get more than what a dealer will pay. I think 6 years from now this car will be an easy sale to a teenager (F-Sport). I'll just list it in the lunch room at the local High School lol The kids around here drive much nicer cars than the teachers.
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Old 05-21-12, 05:34 PM   #18
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I paid $2,400 for 8 year, zero deductible. Not a great price but acceptable to me (~$500 off). I made it part of the car total OTD negotiation price. I tried to remember to buy just before the manufacturer's warrant expired with my last car (Audi) but ended up forgetting and then really regretted my delay. Wasn't going to get caught this time! Remember while the Lexus is reliable, it has lots of new electronics, any one of which would be more than a thousand dollars to repair. So a few of those over 8 years, and you are even or on the positive side... and worth the peace of mind.
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Old 05-21-12, 05:52 PM   #19
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Originally Posted by Liferules View Post
I paid $2,400 for 8 year, zero deductible. Not a great price but acceptable to me (~$500 off). I made it part of the car total OTD negotiation price. I tried to remember to buy just before the manufacturer's warrant expired with my last car (Audi) but ended up forgetting and then really regretted my delay. Wasn't going to get caught this time! Remember while the Lexus is reliable, it has lots of new electronics, any one of which would be more than a thousand dollars to repair. So a few of those over 8 years, and you are even or on the positive side... and worth the peace of mind.
I agree about the peace of mind for sure.

I have a few quotes and I'm leaning toward the 8yr myself. It's a little more than you said but then again you negotiated it into the total price, I'm buying it outright.

My fear and BMW has proven this one with their high pressure fuel system failures is that either the fuel pump will fail or the injectors... a little math:

100,000 miles
35 mph average
= 2857 hours x 60 to get minutes = 171,429 minutes
x 1100 rpm average (2200 rpm average / 2 since every cylinder fires every 2 rotations)
= 188,571,428 direct injected bursts (yes, thats million lol)
(btw it can be as much as 3x that since the injectors are capable of 3 bursts per event at up to 2900 psi)

I don't know many things outside of NASA that last that many actuations.

It's newer technology I don't really want to pay to repair if I don't have to.
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Old 05-21-12, 06:22 PM   #20
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So then I got to thinking... If the direct injectors fire fuel shots that many times...

100,000 miles @ 25 mpg (wishful thinking)
= 4000 gallons (that's $16,000 btw )
= 15,142 liters (converted)
/ 188,571,428 / 6 cylinders
= .0134 Milliliters or .0134 CC
That's approximately a 1/4 of a US drop which is know to be .05 mL

Wow that's a lot of useless information lol
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Old 05-21-12, 07:10 PM   #21
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My $0.02
Prepaid maintenance - unless the cost you pay upfront will be at least 'x' % cheaper than what it would cost you if you pay for each service at the time of service, absolutely not. ('x' varies by person to person - I look for at least 15-20% discount by prepaying upfront). The dealerships that I visited offered a round figure that they couldn't justify when I asked them for actual service cost (if I paid at time of service). Based on the service cost for 2011 GS, the prepaid maintenance for my 2013 GS was going to be about 15% MORE expensive (instead of 15-20% cheaper) - so in my case, absolutely not.
Why would they expect me to give them my money upfront (are they going to give me interest on the amount? Do I save any money by paying them upfront? no and no. So, I said No)
Note: Even if the cost worked out the same, why pay for it upfront? (some dealerships occasionally have specials on oil changes - or a competing dealership may offer better prices - why tie yourself down to one dealership if there is no "significant" price advantage?


Extended Warranty - This is highly debated - and everyone has their opinion - here's mine.
I tend to keep my cars for a long time (compared to others who swap their cars before the factory warranty runs out). So, I buy the Lexus backed (not aftermarket third party) platinum warranty. (not from the dealership where I buy the car from - those are more than double of what it should cost. There are other Toyota dealerships that will sell you the exact same Lexus backed warranty for less than half the price (check the other threads for more info)
Note: Again, no sense in paying for that warranty right now when your factory warranty is still active. Just remember to buy the extended warranty before your factory warranty runs out.
My previous ES had some expensive problems that were addressed by the extended warranty at the dealership. Without the warranty, I'd have spent much more than what the warranty cost me. At the same time, I'm sure there are enough people who have bough the extended warranty, and never had to make a claim on it. I look at it as the comprehensive insurance coverage. Thank heavens I've never had to make a claim on my car - but yes, I always have comprehensive insurance on my cars (collision coverage is all that is "required" by law)
Yeah, I like the peace of mind
I have had some very smart people give me advice that says don't buy an extended warranty. I went against that advice and saved a lot of money because there were some expensive repairs down the line. Is an extended warranty always the right choiice? Depends on the cost of the warranty and the maker, as well as the dependability history of the model being purchased.

So, sometimes it is as good idea and sometimes not.

I bought the 8 year 120,000 mile warranty for my 2013 GS 350. Lexus skipped a year and redesigned it for 2013. I'm not completely sure what I'll get out of it, but I'm sure it'll drive forever. The important thing, because I plan to drive it for 8-10 years at least, is to save some money down the long road.

Even Dave Ramsey says "no" to extended warranties, but he hasn't had my bad luck with new cars in the past either.
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Old 05-22-12, 05:18 AM   #22
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I paid $2,400 for 8 year, zero deductible.
how many miles?
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Old 05-22-12, 07:31 AM   #23
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My perspective here is to keep the extended warranty money in the bank (~$1,500-$2000) and let it grow ...or not grow...

If the repairs exceed $1500-$2000, detail the car and trade it in!

Prepaid Maintenance:

...I ordered parts for my 4GS upon delivery of my vehicle and the total for parts (air filter, cabin air filter, oil filter, drain plug gasket) up to 60k was ~$180.
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Old 05-22-12, 07:58 AM   #24
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Originally Posted by faifai83 View Post
My perspective here is to keep the extended warranty money in the bank (~$1,500-$2000) and let it grow ...or not grow...

If the repairs exceed $1500-$2000, detail the car and trade it in!

Prepaid Maintenance:

...I ordered parts for my 4GS upon delivery of my vehicle and the total for parts (air filter, cabin air filter, oil filter, drain plug gasket) up to 60k was ~$180.
I'm still thinking I'll feel better about the Extended Warranty but I totally agree with you on the maintenance. I actually priced out all the stuff online through Sewell yesterday.

Did you get the Lexus chromed oil canister wrench or the MUCH cheaper aftermarket one?
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Old 05-22-12, 09:02 AM   #25
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Originally Posted by MY13GS350 View Post
I'm still thinking I'll feel better about the Extended Warranty but I totally agree with you on the maintenance. I actually priced out all the stuff online through Sewell yesterday.

Did you get the Lexus chromed oil canister wrench or the MUCH cheaper aftermarket one?
I already have a snap on oil filter remover.
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Old 05-22-12, 10:39 AM   #26
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Personally I would pass on both and pay as i go for maintaince and about the extended warranty I personally wouldn't get it since most problems (if any) start after 120k which by then the warranty expires.
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Old 05-22-12, 10:48 AM   #27
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Originally Posted by MY13GS350 View Post
Sometimes I feel like I live with a cloud over my head... If I don't have the EW i'll need it, If I have it I won't... I'm fine with having it and not needing it.

Besides if I have it and want to private sell the car at 100k I'll feel good about selling a car that has transferable coverage and the buyer will probably feel better about buying it. Ive never sold a car privately but I'm sure I can get more than what a dealer will pay. I think 6 years from now this car will be an easy sale to a teenager (F-Sport). I'll just list it in the lunch room at the local High School lol The kids around here drive much nicer cars than the teachers.
I've sold two cars privately over the last two years and I got way more then what dealers were offering. My 2010 Chevy Camaro cost me 28,999 + TTL and I sold it for $27,500 a year later with 9k on the odo. I bought a 2011 Toyota Camry SE for 24,500+ TTL and sold it for 21,500 2 months ago with 28k on the odo. So private sales are the way to go.
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Old 05-22-12, 10:48 AM   #28
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how many miles?
I misspoke, it was $2,195 for 8 years/75K miles.
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Old 05-22-12, 10:50 AM   #29
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Originally Posted by Sevn86 View Post
I've sold two cars privately over the last two years and I got way more then what dealers were offering. My 2010 Chevy Camaro cost me 28,999 + TTL and I sold it for $27,500 a year later with 9k on the odo. I bought a 2011 Toyota Camry SE for 24,500+ TTL and sold it for 21,500 2 months ago with 28k on the odo. So private sales are the way to go.
Very encouraging comments. Thank you for sharing your experience. Did you do AutoTrader or CraigsList or Newspaper? How did you advertise it?
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Old 05-22-12, 10:50 AM   #30
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Originally Posted by faifai83 View Post
My perspective here is to keep the extended warranty money in the bank (~$1,500-$2000) and let it grow ...or not grow...

If the repairs exceed $1500-$2000, detail the car and trade it in!
The problem is that once you've had to spend that much, usually there's another couple thousand you must spend to just get the care "sales worthy"...
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Old 05-22-12, 10:50 AM
 
 
 
 
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