smokyis350

iTrader: (21)

So my bumper to bumper warranty is coming to a end soon in about 3000 miles. I can't decide if I should purchase the extended warranty or not since I still have the extended powertrain warranty of 7 years/100,000 miles.

I will be most likely selling my car in about a year or so.

Reason I am debating if I should buy the extended warranty is some buyers would highly prefer to purchasing a used car with OEM warranty.

KillaIS250

iTrader: (1)

It really depends. Do you have a history of problems with anything that isn't covered under the powertrain already? For example the navigation, a few members here have problems with it not responding, in which case you'd at least break even on the cost of the warranty. But there's other things you might want to consider too like the Dash rattle...only covered with bumper to bumper. Also make sure whatever warranty you buy is transferrable if you do plan on selling it in a year. Don't plan on making back the cost of the warranty when you sell the car though. But yes, you will get more serious buyers if you've got a warranty to offer them.

smokyis350

iTrader: (21)

No major issue in the past. But there are some dash rattling here and there as well as some minor issues such as HID bulbs going out.

From my understanding, the extended powertrain warranty is transferable. I am guessing that the extended warranty should be also transferable.

You are right. The extended warranty cost ~$2000. I am not sure if I will be able to make $1000 for having extended warranty.

LDNN

Since you're asking here's my opinion - If you're driving a BMW I would recommend getting it, but you own a Lexus. I'd take the two grand put it in an interest earning account and learn some basic DIY from this forum and take care of your car as it deserves, more than likely you will come out ahead in three years.

chi123

iTrader: (12)

I was debating to buy the extended warranty or not when I was purchasing the car. Third party dealer offered it for $1800. I bought the car used at 49,270 miles so the basic warranty was ending real soon and the dealer urged me on buying it but did mention these cars were very reliable. In the end, I decided it wasn't worth it. However, I did visit the dealer for some problems in the 700 miles left of warranty for bad gas mileage and recalls. So far, no visits to the dealer ever since for anything warranty related. But I do have squeaky seats, dash rattles, start-up grind, and strange engine noises but half of those are under powertrain so I'm not worried. The warranty definitely gives all buyers a sense of assurance but I don't think it's worth the $2000 unless your car has had a past of problems IMO.

KillaIS250

iTrader: (1)

Here's a good idea. Since you where thinking of spending the money, you obviously have about $2k so. So far, seems like you won't really need the warranty soo....

Put it in savings/interest earning account like LDNN said. If you ever need to pay for something outside of warranty, you'll have that $$$ there to use. If you don't, when you sell the car, use the $2000 towards a down payment on your next car. Or use it towards a vacation, mods on the next car, etc

Just don't spend the $2k right away if you dont buy the warranty lol

calvin2376

iTrader: (2)

First off, why do you have rattling and HID bulbs going out? Those are covered by the factory warranty, take it in and get them fixed.

Second, if you're selling the car in a year, there's no need to get an extended warranty. You're right in that potential buyers would prefer to buy a car with a warranty. But you're not going to sell your car for $2000 more with a warranty than you would have without, so it's a pretty poor return.

VSA warranties are transferable to a non-commercial entity, CPO warranties are not. This means that if you sell your car private party, you CAN transfer the warranty to the buyer for a nominal fee. However, if you trade the car in to a dealership or sell it to Carmax, for example, the warranty doesn't go with it.

One last thing to note is that these extended warranties are pro-rated, so if you buy a 3 year warranty and sell the car in a year (but don't transfer the warranty), you'll get refunded 2/3 the cost.

Kurtz

iTrader: (1)

Do you have a lot of miles?

Because if you're at like 50k now you could get the 6 yr platinum warranty a lot cheaper than 2 grand and still be able to sell it in a year (assuming you do under 25k/yr).

The 6 year/70k mile platinum was like $830 from Jerry Johnson last time I got a quote (which was maybe a year ago)...

6 yr/100k was still only 1275.

So you'd get a year of "full" coverage for $275 if you get an extra 1k when selling that way.

smokyis350

iTrader: (21)

I do bring my car to the dealership to fix HID bulbs and dash rattling.

This is what I wanted to hear. I was only planning to purchase extended warranty for a better resale value. I thought it would be a decent return.

calvin2376

iTrader: (2)

Well if the prices Kurtz is quoting above apply to you, then the return might be better.

smokyis350

iTrader: (21)

I am only purchasing the warranty for the purpose of resale value. Would I be able to re-extended the extended warranty if the next owner decides that they want a longer extended warranty?

Kurtz

iTrader: (1)

By the wording at the lexus website, no... though generally the idea of the requirement is that it's "in warranty" when you buy it, so this might be possible... probably if you hit up Jerry Johnson or one of the other guys who sells em cheap they can answer you more clearly.

I know I planned to keep mine 7 yrs though, so I got the 8 yr warranty because the price difference was small enough I knew I'd make it back and more in resale.... (especially since it also netted me the $500 gift card during the spring recall, so if it bumps my resale by 1k I'll actually make a net profit on the thing even if I never use it)

NJTSI05

as stated above some cars are very sensitive but lexus is a very well made car and having extended coverage i would say its personal prefrence take you milage into consideration when you make your choice

Stylnhonda

iTrader: (1)

To me it's not about the Lexus name that I am worried about. It's all the "goodies" that our cars come with. Nav, parking systems, sensors, heated seats etc. that I worry about down the road. I still have a while to think about getting an extended warranty though.

PS: There is no interest bearing accounts anymore lol...

Joeb427

iTrader: (1)

Exactly!
Plenty of toys to go wrong.
If I keep my IS after basic warranty,I'll definitely buy a discount Lexus extended warranty from Troy Dietrich or from another person who sells oem warranties.
.