cloudedh

hi folks, so this is my first post here but i've searched all around and can't find any help.

my rx350 2010 warranty has expired (i'm at about 60,000) miles. what options do i have now of getting a warranty? my local dealership said they can give a VSA for 50,000miles/4years for $3,500 which seems way too high to me...

i have read in the forums what and who to contact if within the warranty, but now can't find any help.

what to do?! please help

thanks.

ecr72

Being outside the window of the original mfg warranty, you can't extend it with a Lexus backed warrnty. I wouldn't even consider a 3rd party warranty. Too many horror stories. I'd just put the money you'd pay for an extended warranty aside so you can cover a possible repair down the road.


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cloudedh

That's what i thought... but was surprised when the dealership offered me the VSA. Do you think i should take it for $3500?

deilenberg

What's a "VSA"?

Point to consider, especially with aftermarket warranty companies:

1. You are betting the car is a POS and you're going to collect more on warranty repairs then the warranty cost you.
2. The warranty company is betting they pay out less then you paid by a considerable amount, since the typical markup on aftermarket warranties is 100% (why the F&I guys LOVE them.) They're making their bet based on actual numbers they have - such as repairs they paid for on the same vehicle over a period of time/miles.

Guess who has the smart bet? Insurance companies are quite profitable (if someone doesn't steal all the money and bankrupt the company - like WarrantyGold a number of years ago.) They're also expert at weaseling out of paying claims, and delaying payment.

As someone mentioned - better you bank the money, then spend it when you sell the truck.. since chances of needing it for a repair the warranty would have covered are slim.

RX330inFL

VSA = Vehicle Service Agreement

http://www.lexusfinancial.com/consum...um_VSA-05A.pdf

See the Used Vehicles section.

deilenberg

Ah.. learn something every day. According to the VSA eligibility - cloudedh's truck isn't eligible. Won't be the first time a dealer offered something they can't actually deliver.

ecr72

I would never buy a VSA. Then again, I tend to do oil and filter changes myself so a VSA would never pan out for me. Service is maintenance, not repairs. Be careful. If you do go with one of these programs, make sure you understand what's included and just as important, what's excluded.

As deilenberg mentioned, you're sort of betting your vehicle is going to break down. If you're so worried about it, I'd put that $3500 into a down payment on a new(er) vehicle that has a warranty to cover repairs. We got a CPO "just in case" but we didn't bite on extending the coverage when offered.

cloudedh

i was surprised they offered it to me... but if they give it, they have to honor it right...
I'm just afraid if something was to ever break down, it would be more than 3500... though i haven't had any issues with the car so far... but you never know what could happen.

cossie1600

You can get it online for $2K

vlad_a

I agree with taking $3,500 and putting it toward a new vehicle if you're worried so much about things breaking.

Warranty is like insurance. You can self-insure by fixing things if they do break, or you can pay some other company a fee to do it for you. If the above statement on profit margin being 100% is true (and it probably is), in the long term you're paying double for what would it would ultimately cost you out of pocket. And you're paying forward, so add compound interest on top.

As with any insurance, they will look for clauses not to cover your repair. IMHO, why bother. It's a Lexus, not a BMW or an Audi.

cloudedh

thanks a lot for all your advices... i've got a few days to make up my mind as i buyout my car... but appreciate all the help