ramaka02

Hi,
I bought a 2010 RX 350 last August and it still has factory warranty till September 2013 and it has around 24k miles on it. I am thinking of buying an extended warranty, but somehow not sure if it's a wise decision since a 6 year warranty costs $830 (basically paying for 2 more years). Please help me out :-)




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kitlz

Depends on how long you plan on keeping your RX. I believe in them because there's too many expensive parts, more so in the 3td gen than before. I've gotten my money back in as little as one repair. Being told it won't cost anything was priceless.

Is $830 for a genuine Lexus warranty or some other company? What you were quoted seems unusually low.

ramaka02

Thank you for your reply. Yes, this is the genuine Lexus warranty by Jerry....many here have bought their warranty from him. I might just go for 8 year/100k for $1960..


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kitlz

Those are great prices. Don't forget the prorated refund on the unused portion if you sell the RX before it expires. I did that on the 330 with several months left on the 7 yr/100k mile. Wasn't a lot but hey, it's money. Paid for a few tanks of gas.

UTAS

5 YEAR 60,000 MILES $585.00
5 YEAR 80,000 MILES $920.00,
5 YEAR 100,000 MILES $1,355.00
5 YEARS 125,000 MILES $1,830.00

6 YEAR 70,000 MILES $1,005.00,
6 YEAR 100,000 MILES $1,590.00
6 YEARS 125,000 MILES $2,210.00

7 YEARS 75,000 MILES $1,550.00,
7 YEAR 100,000 MILES $2,040.00
7 YEARS 125,000 MILES $2,845.00

8 YEAR 75,000 MILES $1,765.00
8 YEARS 100,000 MILES $2,485.00
8 YEARS 125,000 MILES $3,610.00

The above are numbers from Jerry just this last Wednesday for a '10 3rd Gen RX 450h. Assume your quote is for non-hybrid. I'm thinking of an extended warranty, too. Would at least go with 7 yr / 75k, if I were you. You need to consider how many miles per year you might drive. Good luck.

DrewGS350

iTrader: (1)

Those a excellent figures. Contemplating going 5 or 6 year 100k.

ramaka02

This is what I got from Jerry today for 2010 RX 350, I am planning to go with 8yr/100k one

6 YEAR 70,000 MILES $830.00,

6 YEAR 100,000 MILES $1,275.00

6 YEARS 125,000 MILES $1,750.00



7 YEARS 75,000 MILES $1,255.00,

7 YEAR 100,000 MILES $1,615.00

7 YEARS 125,000 MILES $2,240.00



8 YEAR 75,000 MILES $1,415.00

8 YEARS 100,000 MILES $1,960.00

8 YEARS 125,000 MILES $2,825.00

corradoMR2

I usually lease and/or buy to keep my cars no longer than 2-3 years so for me personally it's not worth the extended warranty. Another factor is you bought the most reliable luxury SUV on the market and I'm on my third RX, with no major issues ever (under warranty or not). My last RX400h, at 70k miles, a light bulb burnt in the radio panel and a fuse needed to be replaced for the 110V power outlet in the trunk - that was the extent of my problems.

Some key criteria to consider to help determine whether to invest in the extended warranty:

1. Determine what exactly it covers to meet your expectations. Items that may "break" that is considered by Lexus "wear and tear" may not be covered.

2. Your RX has low mileage 24K when bought. That's a low starting point . Was it bought as a certified pre-owned and properly maintained by the previous owner?

3. Environment, temperature, and weather. Exposure to winter abuse from cold temps and road salt, rural summer dusty roads versus city swept roads, precipitation quantity, exposure to sun vs indoor parking, etc.

4. Mileage you will put on - mostly city, highway, or split? Do you have a heavy foot? Lots of acceleration, starting/stopping increases wear on the engine, brakes, suspension, axle, transmission etc, versus lighter wear from highway use.

5. Age RX will be when you plan on selling it? Currently it's 3 years old. Statistically, very low risk, but if you were to see minor problems, from my experience it's at age +-5 (70k miles) and up, and more serious mechanical problems from age +-10 (120k miles) and up. But again, statistically still low risk.

If the above factors are on the low use/low abuse side, I would forfeit the extended warranty. Flip side is if high, the warranty purchase would make sense especially if the ~400-500$ or so a year it would cost you over the period is worth the peace of mind.

Good luck.

StillLine

For me, it's as simple as I bought a Lexus (Toyota) so I wouldn't need an extended warranty. Statistically, Toyota products are far less likely to break than other brands. Purchasing an extended warranty is basically purchasing an insurance policy. Bottom line, if you will sleep better at night knowing you are insured against a potentially costly repair, however remote the possibility, then purchasing an extended warranty is the right decision for you.

On the subject of extended warranties, every auto purchase I've made from dealers have included the sales pitch for an extended warranty. I purchased one on a Dodge truck I bought new in 1993 and it turned out to be the right decision. Since, I've always passed on the opportunity with the Toyota products I've purchased and I've never regretted it. Only once was the salesman a bit too aggressive with the pitch in my opinion and I ended the hard sell by expressing that if he was so convinced that I would regret not buying the warranty, then perhaps I needed to go somewhere else and purchase a more reliable vehicle.

Go with your gut on this one. Just my $ 0.02 worth.

chuckGS350

Go for 8K/100K Platinum..

Evitzee

I usually don't go for an extended warranty on consumer products, but on something as complex as an automobile I find it a reasonable purchase. Check out what a NAV screen costs should it go out (and they do), or what a set of shocks cost, and it will pay for itself. I buy and hold our vehicles for 8-10 years so it is worthwhile for me. Do the math and do what is in your best interest. If you sell after 4 years (factory warranty) it really isn't needed.

ramaka02

Thanks everyone for your time and your input, I will be buying an 8 year/75k warranty from Jerry this week, since I intend to keep my Lexus for sometime....


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vlad_a

Sounds like you already made up your mind.
Personally, I would put that money aside for when an actual work (wear and tear) may be needed. I own a 10 year old IS300 and an extended warranty on it would have been a waste. Same goes for other high-mileage Toyota vehicles I owned.