NateInAZ

As the warranty on my 2010 GS350 comes to an end in May, does anyone have recommendations for purchasing an extended warranty?


Thanks,

Gotcha350

Lexus Care....or save your money...these car have too many electronics and things to go 3rd party...my .02 cents

gr8fulRed

First off...don't buy ANYTHING off the internet in terms of a vehicle service contract, period. If it's not sold THROUGH a licensed, reputable dealer....you're going to get screwed, period. If you are interested in picking up an extended warranty here is what I'd recommend:

1) Inquire from a local Lexus dealership as to what they make available. You want "Exclusionary" coverage, not "stated component". Meaning...you want the kind of warranty that comes very close to the factory "basic warranty" in terms of coverage. A small list of "non covered components", which are typically and mostly maintenance items and normal wear and tear....this is "exclusionary coverage".

2) Know going in what "labor rate" the contract will pay. Is this in line with what Lexus charges in your area? If you buy from Lexus, their service dept will most likely honor the labor of the contract they are selling, after market or not...but find out BEFORE hand. Also, check to see if the contract covers "diagnosis" fees. Good ones will.

3) Review the "terms and conditions" section BEFORE purchase. Specifically, look for "limits of liability", i.e....what the contracts maximum payable benefits are during the LIFE of the contract AND if there are max limits PER CLAIM. You want a contract that does NOT HAVE per claim/ per failure "limits" imposed. A limit of liability that is "NADA retail value of the vehicle" or something to that effect is acceptable.

4) Make sure there is no "waiting period" before your coverage takes effect.

5) Make sure it's cancelable in the event of total loss, trade/sell or just if you want to. Most states allow for some form of pro-rata refunds on these.

6) Make sure that it is NOT a "reimbursement policy". i.e., you don't want to be "out of pocket" for the cost of a repair and then subject to waiting 3-6 weeks for a company to reimburse you. You want the contracts administrator to "pay the shop" directly for the cost of the repair, less your applicable deductible.

7) Make sure the contract is fully insured. (there is a company standing behind the xyz warranty company in event of financial insolvency). This is not a requirement in all states, but GOOD contracts are insured.

If you follow these guidelines...you should be ok if you decide to buy coverage. A Lexus franchise will most likely NOT have a poor warranty contract provider in their store. They may need to check your car out to make sure it's in good condition, etc prior to offering the contract. That is not uncommon.

Bavaria

Purchased Lexus Platinum 8yr/75k warranty month before factory warranty expired. Bought it from dealer in Kansas, who beat the best price in AZ by over $800. Lexus no longer allows customers to purchase out of state, although if you happened to be passing through the state with the best deal (road trip!) I understand you can buy it there.
Bottom line - shop various dealers - their prices can vary widely.

NateInAZ

Thanks much for the info. This is what I was looking for. I will shop the local Lexus dealers see what offers i can get.
The cancellation is a good option to as I am on the fence how much longer until I trade it for something else. Love it but want something new.