Purchase of Extended Warranty-7yrs/75k miles..Platinum.
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Purchase of Extended Warranty-7yrs/75k miles..Platinum.
Hello,
I just bought an 09 IS 250. I have plenty of miles to go before my manufacturer's warranty expires. I do not want to buy extended warranty at this time. However on the brochure of "Platinum" 7yrs/75k miles under eligibility for Used cars , it states that it can be bought at the time of purchase only at your lexus dealer. Only is underlined. I am a little confused.
Will I be able to purchase this extended warranty (Platinum 7yrs/75k miles) at a later date say 49000 miles.
Please help!! Also I feel the dealer is not offering a great price. I shopped around and found better deals.
Thanks,
Rashi
I just bought an 09 IS 250. I have plenty of miles to go before my manufacturer's warranty expires. I do not want to buy extended warranty at this time. However on the brochure of "Platinum" 7yrs/75k miles under eligibility for Used cars , it states that it can be bought at the time of purchase only at your lexus dealer. Only is underlined. I am a little confused.
Will I be able to purchase this extended warranty (Platinum 7yrs/75k miles) at a later date say 49000 miles.
Please help!! Also I feel the dealer is not offering a great price. I shopped around and found better deals.
Thanks,
Rashi
#2
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You can buy the warranty whenever you want but buying it at 49000 a couple years down the road won't make a difference. The warranty does not start from the day you buy it but rather the day you vehicle warranty started. So it will take your bumper to bumper to 75000 miles and 7 years as opposed to 50,000 miles and 4 years. You can buy the warranty at any Lexus dealer as there are better deals out there. IMO I wouldn't buy a 75000 warranty as there's not point, 100,000 is more reasonable.
#3
I bought it, and was also told that it can only be bought at the time of purchase. Although I have heard that there are other ways to buy it, but not through the dealer. The only reason I didn't buy more time coverage is because I hardly drive it. I've had the car since July 1 of this year and have put on 1,521 miles on it since then.
The thing that's good about it is that if you don't use it then it gets 100% refunded. But if you DO use it, gotta figure how much you are saving vs going to spend fixing problems later down the line. To me it was worth it. Never know what will come up in the future. Peace of mind.
Edit: Just went to check mine, it's not called platinum, it's called "Elite" (what's Platinum?) it has exclusionary coverage, which from what I understand duplicates the existing new car warranty. In other words, covers EVERYTHING except wear and tear.
The thing that's good about it is that if you don't use it then it gets 100% refunded. But if you DO use it, gotta figure how much you are saving vs going to spend fixing problems later down the line. To me it was worth it. Never know what will come up in the future. Peace of mind.
Edit: Just went to check mine, it's not called platinum, it's called "Elite" (what's Platinum?) it has exclusionary coverage, which from what I understand duplicates the existing new car warranty. In other words, covers EVERYTHING except wear and tear.
Last edited by Micaiah; 10-21-10 at 07:20 PM.
#7
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Read this Thread:
https://www.clublexus.com/forums/is-...-coverage.html
Give Troy a call, I called at least 8 dealers and no one could beat Troy's price... Very legit.
https://www.clublexus.com/forums/is-...-coverage.html
Give Troy a call, I called at least 8 dealers and no one could beat Troy's price... Very legit.
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Thank you all for replying. My dealer charged me $ 1590 for 7yrs/75k miles. However I asked elsewhere and was given a much better deal at $1190. I am not sure how long I will keep my car for that is one reason why I am still contemplating. The other reason is that I am also paying interest on $1590 ( added to the cost of the car )starting the day of purchase which I am not feeling comfortable about.
#11
Classic dealer warranty games. They just want your money so they will tell you that you can only do it that day/week/month.. but there are other lexus dealerships that would gladly take your business after the fact!
#12
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For what it covers go here:
Then select your model to see pricing... to see what is covered go here:
http://www.lexusfinancial.com/consum..._VSAComponents
Far as I know you can buy this anytime before the factory 4 yr/50k mile warranty expires, and as noted cheaper pricing is available from a number of guys (Troy, Toby, and Jerry being the 3 cheapest I'm aware of)
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