Extended Warranties on Used Cars / Used Car advice
06-30-12, 09:22 AM
#1
Intermediate
Thread Starter
Extended Warranties on Used Cars / Used Car advice
I'm in the market for a used car, and i've narrowed my choices down to several options. Most being a used Lexus of some sort because of the reliability. I'm trying to keep within a budget of $15k-ish, and would like to know if any of you had some advice. I'm currently looking for:
- 2GS (seen them as low as $5k, all the way to $15k)
- 3GS (2006 models with 100K+ miles on them around $15k)
- SC430 (Seen some as low as $13k with over 100k+ miles)
From several other posts, i've gathered that a higher mileage GS or SC are great cars if taken care of properly. I'm open to any other suggestions for used cars in that price point. I know that Lexus makes great reliable cars that can go well into 200k miles without too much worry. What about other brands like Audi, BMW, Mercedes, & Porsche?
My wife, on the other hand, wants a Mercedes C or E class, and my experience with Mercedes has been less than perfect. I've bought a used 2000 ML55 a few years back from Carmax, and I bought a 3 year extended warranty for $1700 at the time. Carmax told me that I could take it to any mechanic as long as I do a $75 deductible, or I can bring it to Carmax and have them fix it for free. Within a year of my purchase, I had to take it into the MB dealership and have something replaced. That bill ended up well over $2000. I felt lucky that I had bought the extended warranty at the time.
My thoughts is that if I decide to buy a Mercedes, I definitely want to get an extended warranty to cover the costs of repair work. Almost everytime I have come out of a shop with a Mercedes, the bill was easily over $1500, and I know with used Mercedes, things tend to need repair more often than not.
So if I were to buy a used MB from, lets say, a private party. Is there a way I could get a 3rd party extended warranty? If so, can anyone recommend one? I've read that a lot of shady companies do not cover certain things, or make you go to "their" mechanics. Also, are there limitations to what types of used cars are covered (ie: anything over 120k miles, etc)? If I were to buy a used car from a car lot, are the extended warranties they offer legit? I've read a lot of horror stories regarding scams & stuff when they try to take their car in for service.
I have read several posts regarding extended warranties regarding Lexus', and I'm wondering if there was a limitation to extended warranties also. I've read that a gentleman named Jerry is a great go-to guy to get an extended warranty on a Lexus, but how about a high mileage Lexus, or a Lexus obtained through a private party? Will those qualify for an extended warranty?
Any thoughts would be appreciated!
- 2GS (seen them as low as $5k, all the way to $15k)
- 3GS (2006 models with 100K+ miles on them around $15k)
- SC430 (Seen some as low as $13k with over 100k+ miles)
From several other posts, i've gathered that a higher mileage GS or SC are great cars if taken care of properly. I'm open to any other suggestions for used cars in that price point. I know that Lexus makes great reliable cars that can go well into 200k miles without too much worry. What about other brands like Audi, BMW, Mercedes, & Porsche?
My wife, on the other hand, wants a Mercedes C or E class, and my experience with Mercedes has been less than perfect. I've bought a used 2000 ML55 a few years back from Carmax, and I bought a 3 year extended warranty for $1700 at the time. Carmax told me that I could take it to any mechanic as long as I do a $75 deductible, or I can bring it to Carmax and have them fix it for free. Within a year of my purchase, I had to take it into the MB dealership and have something replaced. That bill ended up well over $2000. I felt lucky that I had bought the extended warranty at the time.
My thoughts is that if I decide to buy a Mercedes, I definitely want to get an extended warranty to cover the costs of repair work. Almost everytime I have come out of a shop with a Mercedes, the bill was easily over $1500, and I know with used Mercedes, things tend to need repair more often than not.
So if I were to buy a used MB from, lets say, a private party. Is there a way I could get a 3rd party extended warranty? If so, can anyone recommend one? I've read that a lot of shady companies do not cover certain things, or make you go to "their" mechanics. Also, are there limitations to what types of used cars are covered (ie: anything over 120k miles, etc)? If I were to buy a used car from a car lot, are the extended warranties they offer legit? I've read a lot of horror stories regarding scams & stuff when they try to take their car in for service.
I have read several posts regarding extended warranties regarding Lexus', and I'm wondering if there was a limitation to extended warranties also. I've read that a gentleman named Jerry is a great go-to guy to get an extended warranty on a Lexus, but how about a high mileage Lexus, or a Lexus obtained through a private party? Will those qualify for an extended warranty?
Any thoughts would be appreciated!
07-02-12, 05:13 PM
#2
Lexus Fanatic
In general, besides the brands you named, Acura, Honda, Infiniti, Nissan, Subaru, and Toyota generally build reliable products, that, with a few exceptions, are generally safe buys as used cars (but, of course, check each individual vehicle out thoroughly, and try to get a CarFax report. The Ford Fusion/Mercury Milan/Lincoln MKZ triplet sedans have also been very reliable in FWD form....not AWD.
As far as the extended warranty goes, in general, the more typically reliable the car, and the lower the typical cost of repairs/service, the less sense, IMO, it makes to buy one. However, you are correct to seriously consider one on almost any used Mercedes if you plan to keep it for a while. I wouldn't own a used Mercedes without some kind of exended warranty......hopefully a comprehensive one.
As far as the extended warranty goes, in general, the more typically reliable the car, and the lower the typical cost of repairs/service, the less sense, IMO, it makes to buy one. However, you are correct to seriously consider one on almost any used Mercedes if you plan to keep it for a while. I wouldn't own a used Mercedes without some kind of exended warranty......hopefully a comprehensive one.
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