Extended Warranty Recomendation Needed
02-02-16, 01:17 PM
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Extended Warranty Recomendation Needed
I have a 2007 RX-350 with 21K miles that is about to run out of it's extended warranty. Lexus doesn't sell extended warranties unless the car is still under the manufacturer's warranty. Can anyone recommend a good company who does extended warranties? Every company I've read about so far either has bad reviews or few reviews because they've changed their name several times.
Have you heard of Marathon Group? I reviewed their warranty but it sounds too good to be true (the company who sells this has had 3 different names).
Have you heard of Marathon Group? I reviewed their warranty but it sounds too good to be true (the company who sells this has had 3 different names).
02-09-16, 06:50 AM
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IMHO, your instincts are talking to you. Maybe it's time to listen to them.
We purchased a 2009 RX350 with 30 days left on the drivetrain warranty. We decided to go with no warranty and don't regret it over one year later. We purchased a 2005 Highlander back in 2007 with only the remainder of the drivetrain warranty. We decided not to purchase the extended warranty. It was a good decision with only three non-maintenance repairs in 9 years costing less than $1,000 total.
With Toyota products, in my opinion, it is better to put money into preventive maintenance, using Toyota brand transmission fluid when changing, tune up on time, changing brake fluid etc. than buying an aftermarket warranty of questionable value.
If you're still not sure what to do, ask your mechanic who they recommend.
We purchased a 2009 RX350 with 30 days left on the drivetrain warranty. We decided to go with no warranty and don't regret it over one year later. We purchased a 2005 Highlander back in 2007 with only the remainder of the drivetrain warranty. We decided not to purchase the extended warranty. It was a good decision with only three non-maintenance repairs in 9 years costing less than $1,000 total.
With Toyota products, in my opinion, it is better to put money into preventive maintenance, using Toyota brand transmission fluid when changing, tune up on time, changing brake fluid etc. than buying an aftermarket warranty of questionable value.
If you're still not sure what to do, ask your mechanic who they recommend.
02-09-16, 07:19 AM
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roadbike 56: Thank you for your response. This is my first Toyota (Lexus) product that I've ever owned and we've never had a maintenance issue. However, in past U.S. manufactured vehicles (Chrysler & Ford), the maintenance plans have ALWAYS paid for themselves; sometimes several times over with engine and transmission repairs.
I did check with our Lexus service advisor and finance manager and their policy is not to make recommendations. I checked with two other mechanics I know and both companies they recommended are only sold through dealers. I eventually went with a policy from the Marathon Group. It's more like health insurance; you hope you don't ever need it but it's a peaceful feeling to know you're covered if something happens.
I did check with our Lexus service advisor and finance manager and their policy is not to make recommendations. I checked with two other mechanics I know and both companies they recommended are only sold through dealers. I eventually went with a policy from the Marathon Group. It's more like health insurance; you hope you don't ever need it but it's a peaceful feeling to know you're covered if something happens.
Last edited by nmantooth; 02-09-16 at 07:25 AM. Reason: Wasn't finished when it accidentally submitted.
02-09-16, 06:16 PM
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nmantooth: considering the low mileage you have on your car, you shouldn't really need to worry about unexpected repairs. I am assuming you do the maintenance regularly and that car should last you for awhile without requiring any major repair.
Personally I did look into the extended warranty when i purchased my car couple of weeks ago and route66 is a company i have heard positive reviews about and considered as well. But at the end i decided not to go with it, after all the car i was buying had full maintenance records all done at the dealer. I would guess an extended warranty would cost you about $2-3k for 3year/100k miles which is about $1k/year for the next 3 years.
Personally I did look into the extended warranty when i purchased my car couple of weeks ago and route66 is a company i have heard positive reviews about and considered as well. But at the end i decided not to go with it, after all the car i was buying had full maintenance records all done at the dealer. I would guess an extended warranty would cost you about $2-3k for 3year/100k miles which is about $1k/year for the next 3 years.
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