Thanks for that, I will research some options in Canada. The general view I'm getting is that most people don't trust the used car warranty to actually be there when you need it? Which I totally understand because I never buy a warranty for most things, but a warranty on a new car or certified pre-owned is definitely a nice peace of mind premium and it's come in handy in my past. I was hoping to find something similar for my Lexus.

I'll give it a go and see if there's any negative issues that arise. At $69.99 a month It's pretty low risk for me, and potentially a high reward if a major component fails. If I decide to sell the car in a few months due to a change in circumstances I believe it would be an added bonus for any potential purchaser who might want to buy the car if that's an option they could transfer over.

I'll keep the forum posted on any meaningful updates.

 

Looks like the basic CAA is $6.25 a month.

Before you get locked into something that has such terrible reviews, why don’t you call a couple of places where you would get your car repaired and see if they take the warranty and if they’ve heard of it / have any experience with it

peace of mind is very likely to turn into a thorn in your side and waste of money should you need it based on the awful feedback on this thing.

 

Now that is sound advice, I have 28 more days to mull it over. I'll reach out to Mecanno Autoworks and see if they have heard of Car Shield and their experience.

 

The general issue with 3rd party warranties that they will pay only for after market or in some cases refurbished parts that may not work well in some cases. They also have low reimbursement rates
for labor costs which are much lower than dealership prices, so you will be forced to look for cheaper shops or pay the difference which could be significant.
The official lexus extended warranty is more expensive, but you can take it to Lexus dealer and not worry about it not covering OEM parts or not paying enough for labor.

 

I would prefer the Lexus Extended Warranty but I dont think they offer one for my car age.

 

OP, this is a Lexus. More specifically, our ES's are basically a camry with some additional sound insulation. there isnt many repairs that will set you out of pocket for 3k+. parts are plentiful, and there hasn't been any notorious issues with this toyota v6 that i know of.

I had a 3rd party extended warranty (Secure Drive) when i bought a 2014 maserati granturismo. within the 2nd year of ownership, that car had a service bill of 18,000 dollars from vancouver ferrari maserati. Luckily i had some third party coverage and it paid for itself and then some. Still ended up paying 10,000 dollars out of pocket, but it was worth it in that instance. Would i buy one for a lexus? NOPE! thats kind of the reason why we bought lexus to begin with. Minimizing repair costs and reliability is the name of the game when it comes to our cars.

Good luck

 

I haven’t purchased a 3rd party warranty but I was being targeted by my local Lexus dealer to get one. I looked up the company they use on BBB and it turned out to be pretty bad.

One of the comments that stood out to me is that they only cover the national average for labor rates which is abysmally low at something like $60/hr. So the customer had to pay the difference which unfortunately was at the dealer and can be as high as $250/hr depending on your area. Even my local mechanic here in NJ charges about $100/hr so it wouldn’t be worth it.

In addition, if they only cover low labor costs I can only imagine how much of a fight it would be to get OEM parts.

Lastly, as previously mentioned, these cars are built like tanks. The engine is dead reliable. The tranny has some quirks but also very reliable. Other potentially big repairs shouldn’t go over $1200 at the worst. This is not a European car, so you can sleep at night knowing parts and labor is very reasonable.

 

Thanks all for their great insights and experience. The repair I'm worried about is replacing the power steering pump and rack if the small seep becomes something worse due to the age of the seals. The mechanic quoted me about $2800 for that repair which is more labour intensive than high cost of parts. After reading the contract the maximum hourly rate is $150 per hour but there is language that they will go with the standard rate in the area the shop is in.

Under this warranty that fall under the scope of coverage but only if it fails. I have 24 more days to think about it but I'll let the group know.

 

Do you currently have seepage from both the pump and rack? If you had pictures I could give you a better idea on what to expect. Toyota’s are known to have small seepage around the rack but it usually stays that way for years and tens of thousands of miles before they fail. You’re more likely to have to replace power steering lines from rust than to replace the whole rack or pump.

 

^this.

Also try and get a quote from a toyota dealer as they have the same part and have likely encountered the same problem. My buddy brings his ES to toyota all the time and the oil changes are literally half the cost of the lexus dealership.

 

Bought me 2008 one year ago never considered a warranty because I believed I was buying Japan built most reliable car there is. Love my ES and have not had one issue since purchase.

 

Seepage out of Rack end seal. Used Lucas Oil PS Stop Leak and there seems to be no visible leakage on the ground.

 

Update, the PS fluid level has not changed in 2 weeks since adding the Lucas Oil PS Stop Leak. Seems to have worked and it improved the steering feel as well.

 

Also, update: I cancelled the CarShield warranty, I didn't feel like it was a necessary expense. Car runs like a dream and I'd rather save that $70 bucks per month.