Extended Warranty (Worth it?)
07-12-06, 01:51 PM
#1
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Extended Warranty (Worth it?)
Hi All,
About to pull a trigger on the RX350. (In CANADA)
Going to be on a 4 year lease... At the moment, I'm most likely gonna buy the car at the end.
Should I purchase the Extended Warranty? (It's an additional $2500 CDN) for 8 years.
So I'm basically going to be paying $2500 / 4 years = $625 / year after the lease runs out.
Do you think it's worth while?
About to pull a trigger on the RX350. (In CANADA)
Going to be on a 4 year lease... At the moment, I'm most likely gonna buy the car at the end.
Should I purchase the Extended Warranty? (It's an additional $2500 CDN) for 8 years.
So I'm basically going to be paying $2500 / 4 years = $625 / year after the lease runs out.
Do you think it's worth while?
07-12-06, 02:22 PM
#2
Lexus Test Driver
Join Date: Mar 2004
Location: Wisconsin
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8 Years?
8 years is a long time to keep any vehicle but if u do I would think that $2500 isn't too far out there. I certainally would consider it if i kept a vehicle that long. We generally go 3 - 4 years max. & then upgrade to a new one.
07-12-06, 06:24 PM
#3
Moderator
Like all insurance plans, it is a money making proposition for the insurance companies.
If you are self deciplined, put the money away in savings .... be self insured. If you have three cars, you would be most probably ahead even if you run into one or two problems.
Salim
If you are self deciplined, put the money away in savings .... be self insured. If you have three cars, you would be most probably ahead even if you run into one or two problems.
Salim
07-12-06, 07:54 PM
#4
Moderator
This is discussed at great length in many posts here.
You can get a full report with an "advanced search," and the discussion need not be limited to this model.
I think the consensus is that it's not worth it, and that's also my opinion, but some posters buy the service contract (mislabeld by the dealers as "Extended Warranty") anyway.
I did not buy one for my SC430, which is now 5 years old, even with the V-8 engine and the complex folding top, and I won't buy one for my RX (although the CPO is the same thing, and will cover that car on a limited basis (the extended warranty is not as extensive as the original new car warranty) until the car is six years old. After that, I'm going bare with both cars.
You can get a full report with an "advanced search," and the discussion need not be limited to this model.
I think the consensus is that it's not worth it, and that's also my opinion, but some posters buy the service contract (mislabeld by the dealers as "Extended Warranty") anyway.
I did not buy one for my SC430, which is now 5 years old, even with the V-8 engine and the complex folding top, and I won't buy one for my RX (although the CPO is the same thing, and will cover that car on a limited basis (the extended warranty is not as extensive as the original new car warranty) until the car is six years old. After that, I'm going bare with both cars.
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