IS - 3rd Gen (2014-present) Discussion about the 2014+ model IS models

Is an Extended Warranty Worth It When Buying Used?

Thread Tools
 
Search this Thread
 
Old 01-12-22, 07:40 AM
  #1  
RmvWndw
Driver School Candidate
Thread Starter
 
RmvWndw's Avatar
 
Join Date: Dec 2019
Location: IL
Posts: 2
Received 0 Likes on 0 Posts
Default Is an Extended Warranty Worth It When Buying Used?

I am looking for some input from Third Gen IS300 AWD Owners, any advice would be appreciated on whether an extended warranty on a used IS300 would be a good decision.
I am trading in my CT200h for a 2017 IS300 AWD with ~20,000 miles on it.
I am considering a 5 year/75,000 mile mechanical warranty, that would cover mechanical issues that do not include scheduled maintenance or wear and tear items.
This warranty would cost $1,850 from the used online car retailer Vroom. There is a $100 deductible for each maintenance visit.
Knowing that this is a Toyota product, I am confident that the car will have no major issues, however reading this forum has me concerned (radio amp issue, bushing and premature tire wear issues, possible electrical issues).
Any advice would be greatly appreciated!
Old 01-12-22, 07:57 AM
  #2  
wthrman2
Lead Lap
 
wthrman2's Avatar
 
Join Date: Oct 2014
Location: ON
Posts: 3,597
Received 3,700 Likes on 1,786 Posts
Default

^^ Extended warranties are a tricky subject especially when not bought through a Lexus dealer (my opinion). I have never bought one and doubt that I would but it all depends on your tolerance to risk and such. This car is very reliable but is not perfect by any means. The amp situation could be an issue that could be very costly if it did fail on you but you always have to assess the risk, what is the odd it will happen, will you keep this car very long, would you be able to pay for the repair IF it failed and such. With the bushings, it is not that they fail often per se, se (I mean yeah with time they will wear out but are cheap to replace) but its that their soft design can lead to premature front tire wear. I doubt the extended would cover the tires anyway and given how cheap the bushings are, it would almost cost you more on just buying the part than the deductible. Personally, if the car is in good shape and feel it has been well maintained and you can afford the repairs should something go wrong, I would roll the dice and not buy it, especially from a used car dealer. It is a pure personal choice to be honest,,,,
The following users liked this post:
RmvWndw (01-12-22)
Old 01-12-22, 09:44 AM
  #3  
Chris03218
Driver
 
Chris03218's Avatar
 
Join Date: Jan 2020
Location: New jersey
Posts: 76
Likes: 0
Received 9 Likes on 7 Posts
Default

Originally Posted by RmvWndw
I am looking for some input from Third Gen IS300 AWD Owners, any advice would be appreciated on whether an extended warranty on a used IS300 would be a good decision.
I am trading in my CT200h for a 2017 IS300 AWD with ~20,000 miles on it.
I am considering a 5 year/75,000 mile mechanical warranty, that would cover mechanical issues that do not include scheduled maintenance or wear and tear items.
This warranty would cost $1,850 from the used online car retailer Vroom. There is a $100 deductible for each maintenance visit.
Knowing that this is a Toyota product, I am confident that the car will have no major issues, however reading this forum has me concerned (radio amp issue, bushing and premature tire wear issues, possible electrical issues).
Any advice would be greatly appreciated!

I could be wrong but I think they would probably say the prematurely tire wear is from a "worn" suspension part, which we all know isn't the case. IMO i Just bought a 2016 with 45k and turned down the extended warranty.
The following 2 users liked this post by Chris03218:
RmvWndw (01-12-22), wthrman2 (01-12-22)
Old 01-12-22, 10:16 AM
  #4  
JNP1227
Advanced
iTrader: (1)
 
JNP1227's Avatar
 
Join Date: Nov 2017
Location: Massachusetts
Posts: 735
Received 171 Likes on 123 Posts
Default

I bought one from Toyota where i bought my 3is from and honestly for $1700 extended warranty for 5 years definitely worth it especially for electronics in this car. Navigation went 2x and costs $2k + each time. Safe to say I got my moneys worth.
The following users liked this post:
RmvWndw (01-12-22)
Old 01-12-22, 10:37 AM
  #5  
ScytheDC
Intermediate
 
ScytheDC's Avatar
 
Join Date: Aug 2020
Location: TX
Posts: 287
Received 153 Likes on 92 Posts
Default

Originally Posted by RmvWndw
I am looking for some input from Third Gen IS300 AWD Owners, any advice would be appreciated on whether an extended warranty on a used IS300 would be a good decision.
I am trading in my CT200h for a 2017 IS300 AWD with ~20,000 miles on it.
I am considering a 5 year/75,000 mile mechanical warranty, that would cover mechanical issues that do not include scheduled maintenance or wear and tear items.
This warranty would cost $1,850 from the used online car retailer Vroom. There is a $100 deductible for each maintenance visit.
Knowing that this is a Toyota product, I am confident that the car will have no major issues, however reading this forum has me concerned (radio amp issue, bushing and premature tire wear issues, possible electrical issues).
Any advice would be greatly appreciated!
You’ll need to read over the warranty contract. In particular, what is(not) covered and stipulations for making sure you’re in good standing with the warranty contract.

The warranty offered with my car when I bought it used was tricky and didn’t cover anything outside of mechanical ie the engine, transmission, and suspension components not considered wear and tear. Well, according to the contract, what’s the definition of wear and tear, who gets to decide whether a break down is caused by wear and tear vs negligence, when is this decision made? I called a rep at the warranty company to ask about this concern, and was surprised to hear how easy a root cause analysis can likely identify the cause of some failure as being linked to negligence. That company also required you to pay for the repairs upfront then submit the paperwork for a claim to get reimbursement - lol yeah ok.

The issues you mentioned that you’re worried about most likely won’t be covered in any warranty that I’m aware of. You can avoid some of the issues by buying a later model (2015+) and doing some relatively cheap mods that would all cost less than the warranty itself. This platform has a reputation of reliability so you have to weight that too. If you were buying an older BMW then the answer would be an emphatic ‘yes, don’t leave the lot without a warranty’.


The following users liked this post:
RmvWndw (01-12-22)
Old 01-12-22, 11:33 AM
  #6  
Chris03218
Driver
 
Chris03218's Avatar
 
Join Date: Jan 2020
Location: New jersey
Posts: 76
Likes: 0
Received 9 Likes on 7 Posts
Default

I have an 08 Lexus es350 with 190k on it, and I wouldn't hesitate to drive it from jersey to Cali, right now. Same engine. If you are on top of maintenance imo you'll catch most issues before something major. Don't ignore check engine lights, keep an eye out for leaks, check your fluids every 3-5k. If my radio goes, I def won't be replacing it with another Lexus one(my only gripe with the car so far)
The following 2 users liked this post by Chris03218:
Jazzrock (01-12-22), RmvWndw (01-12-22)
Old 01-12-22, 11:46 AM
  #7  
swaangin
Racer
 
swaangin's Avatar
 
Join Date: Sep 2017
Location: nj
Posts: 1,664
Received 377 Likes on 286 Posts
Default

Had my IS for 4-5 years (bought it used at 10K miles, at 68K now), never had major warranty work done on it besides the rubber insert from the sunroof coming loose and some insulation put in where I found some rattling. Have it significantly modified with lowering springs, spacers, wheels, hardwired radar detector, aftermarket subwoofer put in, never any issues. Really solid car
The following users liked this post:
RmvWndw (01-12-22)
Old 01-12-22, 04:01 PM
  #8  
Aegean
Intermediate
 
Aegean's Avatar
 
Join Date: Oct 2021
Location: VA
Posts: 260
Received 80 Likes on 59 Posts
Default

I bought my 2013 Lexus ES 300h under warranty. The only time I asked the dealer to replace the sunroof seal under warranty he asked for $90 diagnosis fee. I ordered the seal online for $45 and replaced it in under 15 minutes. I did not use the warranty. Never had another problem in my 9 year old car.

In summary, the extended warranty is not a good value and always the consumers end up paying more ON AVERAGE than what the insurance pays in claims. Otherwise they would not make money.
Old 01-12-22, 04:05 PM
  #9  
Jazzrock
Advanced
 
Jazzrock's Avatar
 
Join Date: Oct 2019
Location: CA
Posts: 711
Received 208 Likes on 162 Posts
Default

It's a Lexus! Drive and enjoy!
Old 01-12-22, 06:48 PM
  #10  
flipside909
Lexus Connoisseur
 
flipside909's Avatar
 
Join Date: Mar 2001
Location: USA
Posts: 19,802
Received 534 Likes on 283 Posts
Default

The Lexus VSA Platinum is the best one to buy, especially with all the electronics now on the car. These cars are so much more complex than what they used to be. My first new Lexus (2004 IS 300) is simple and primitive compared to what I drive now.
Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
snussbaum
IS - 1st Gen (2001-2005)
1
07-19-19 11:25 AM
watch37
LX - 3rd Gen (2008-2021)
10
05-10-13 01:43 AM
panda327
IS - 2nd Gen (2006-2013)
7
08-22-10 07:01 PM
bletuchy
IS - 1st Gen (2001-2005)
2
03-30-09 03:50 PM



Quick Reply: Is an Extended Warranty Worth It When Buying Used?



All times are GMT -7. The time now is 08:03 AM.