crmjr1

RX350 year old, Been thinking maybe should buy extended warranty. Contacted dealer and told cost around $2000-2500 depending on miles and time. What do you think? have you bought it?? seems like lots of high priced items could go wrong.

k9shelly1

Funny you posted this. I just bought my RX in October and got the extended warranty for $1,879. I was told that if I didn't buy it then the price would go up to between $2,000 and $2,500 if I decided to buy it later.

Let's just say that I am in the process of cancelling it. There is a thread on the ES forum about extended warranties through Midwest Toyota Superstore out of Kansas I think. They beat everyone's price hands down. Jerry quoted me $1,650 just last week. Told my dealer and he would not match it by refunding me the difference so I cancelled it.

Lexus warranties are the same whether you decide to buy it on the day you get your car or on the last day of your four years or on your last mile before going over. Its up to the dealer to work out a price. If I decide to buy it later I will go through Midwest Toyota.

ejvette

One of the key factors in my decision to buy a Lexus is dependability and feeling like I should not need an extended warrantee. That being said there are plenty of independent companies that offer far better extended warantees for way less money.

Evitzee

The question is, Will these independent outfits be in business in 3 or 4 years when you need warranty service? A low price is nice, but if they quote a low price and they go out of business what use is it? I've just had my 5th recall on my 2006 IS350, so although Lexus' tend to be reliable there are problems with these very complicated cars. Ever price the Nav screen or instrument cluster? I bought the 8 year, 100k mi warranty when we bought the RX in November, that will cover almost anything for about as long as we own the vehicle. As always, negotiate with the dealer for the best price.

Joeb427

iTrader: (1)

Exactly!
Warranty Gold was the biggest and went bankrupt.
More hassles with Mickey Mouse warranty companies.
Also,Toyota quality also isn't like it was a decade ago.I'd get a Lexus warranty near the end of my 4/50.

ejvette

This is all contingent on how long one keeps a vehicle also if your in for 8 years by all means go for it but if your a 3 to 5 year person I think it's a waste of money.

Joeb427

iTrader: (1)

True.I never really keep a vehicle that long.That's why I would only buy a warranty at the end of my basic warranty.

Evitzee

Very true, but we just replaced my wife's Subaru at the 10 year mark so we keep the vehicles for a long time. And when you are in the Finance office buying a new vehicle you can haggle for a very good price as they know there really is no need for you to buy the product right now, so they can give you a very good price on the VSA if you buy it now. It's more instant profit for them. Just something to keep in mind.

k9shelly1

Why at the end?

I did purchase it up front but I am returning it now. Not becaue I don't want it but rather for the following reasons:

You already get 4 yrs. or 50,000 miles
I can get it at another dealer cheaper
The extended warranty can be purchased at any time before the the regular one runs out
I am going to pay interest on the balance

Not necessarily in that order.

Joeb427

iTrader: (1)

I would buy a discounted Lexus extended warranty from Troy Dietrich or another person who sells the discounted Lexus platinum warranties right at the end of the 4 years or right before 50K miles.
If you buy a warranty now,it's prorated monthly and if you sell,total or the RX is stolen,you'll get a percentage of what you paid when you cancel that warranty if under the 4/50..You'll take a pretty good hit as years go by.
Just because you're still in the basic 4/50 warranty,an extended warranty is still being prorated monthly.

jeffmust

Another item to consider if you sell your Lexus vehicles private party - and I've sold four of 'em so far - with an extended Lexus factory warranty in place, you'll get more for your vehicle from the new buyer and avoid serious questions about unseen, expensive problems. I sold two with extended warranties and two without - and now I try to have at least 3 months and a decent amount of miles still under coverage at the time of sale. Not possible for a lot of folks but it's worked for me.

k9shelly1

No transfer fee the first time it is done. Anytime after that there will be.

JimH2

To clarify, I assume the years/miles listed in the warranty heading are from the time one purchases the actual warranty -- is that correct? For example, if one chooses the 4/100,000 warranty at the end of 4 years time (when current new warranty runs out), what warranty does one purchase for the same coverage when you 1st purchase the vehicle (8/100,000), or do these years/times all start when the current new vehicle warranty runs out (after 4 years) ? Example plans shown for the 450h:

http://www.lexusfinancial.com/consum...lected=RX_450h

GoHuskers

I will buy it at the end of 4/50k which ever comes first. It does not cost that much more as dealers always tell you.

elsmomo

I think the idea behind an "early" purchase (before Lexus warranty expires) is to lock in cost as hedge against labor rate and part cost increases. Parts and Labor increases will be reflected in future premium rates. I have no hard data on that. Makes sense to me however.
We're looking at a 7/125K plan. I also notice the fine print of the VSA indicates you can make a one time transfer (should you sell your creme puff) for a $50 processing fee. http://www.lexusfinancial.com/consumer

Pricing, my research has found about a 23% reduction on average when compared to the Lexus VSA Pricing list.