TD8834547

So I just bought my 2007 with very low KMs 117k. This is the first time i've bought a relatively old used car and although the reliability and low cost of parts and maintenance was a major factor in my decision to choose Lexus. I still was looking for some peace of mind.

I researched used car warranties, and discovered CarShield and after discussing with them I selected their Gold Coverage, which is a pretty comprehensive powertrain package that covers many components that would be in the thousands to repair.

I am paying $69.99 per month for this warranty that is month to month, so no term contract and unlimited mileage. Has anyone here had experience using CarShield Specifically?

I look at it like $70 bucks a month is pretty affordable peace of mind for any potential unforseen major failures that could cost me thousands of dollars. This policy even covers the water pump but thats already been changed out on my car.

What is the groups thoughts? I have 30 days to change my mind...but it seems like a decent deal.

DaveGS4

iTrader: (2)

No personal experience, but based on this link at the BBB, I personally would drop it asap. F rating, I don't think I've ever seen so many complaints for a company I've looked up

https://www.bbb.org/us/mo/cottlevill...296/complaints

TD8834547

It's interesting because reading the complaints, at least the first 10 it seems there was a misunderstanding on what's covered and what's not. Thanks for finding this link. The Canadian Version is linked below which has a higher rating at B+ as I'm in Canada, I have 30 days to sleep on it.

https://www.bbb.org/ca/on/mississaug...c-0107-1387430

Will report back my experiences if I keep them or drop them.

TD8834547

Question, would you pay $69.99 a month for even a 50% chance that you wouldn't have to pay that $3k repair out of pocket?

DaveGS4

iTrader: (2)

No. Never with a non-manufacturer warranty.

TD8834547

Well they said I can take it to Lexus Dealership or any mechanic who's certified. It was comical to think they would think I would want to take my car to the dealership to get work done.

Everyone knows that any mechanic worth his salt AT the dealership eventually leaves to start his own shop. LOL.

DaveGS4

iTrader: (2)

Well, if you had a Lexus-backed warranty you would

If you do decide to drop it, make sure to fully document and track your request with tracking / screen shots, etc. A lot of the complaints seem to be about not being able to cancel.

https://www.yelp.com/biz/carshield-st-peters-2

TD8834547

Does Lexus do a used car warranty? I didn't even think to look into that. I just googled it.

tolian21

All 3rd party warranties are a scam, put $70 in a bank, that’s $840 per year

TD8834547

You've had one before? What was your experience with it?

tolian21

i never had any car warranty in my life

TD8834547

I was looking for feedback from people with experience with CarShield or other warranty services. If you've never had a car warranty it's just your opinion, which is really just subjective and is of no practical value to me.

I have actually had a Certified pre-owned Audi Warranty from Audi and I actually did use it for a fuel pump so it saved me thousands of dollars. So I'm looking for something that could potentially save me thousands of dollars if something were to happen and stumbled upon CarShield and hence me starting this thread.

Still haven't decided if I'll keep the warranty or not, One of the other "perks" is it includes roadside assistance. Are there any CAA members here that can let me know how much they pay for roadside assistance per month?

tolian21

All the 3rd part warranties get bad reviews. The only warranty thats worth considering is an extended warranty offered through Lexus itself.
I highly doubt there are people here that had this particular 3rd party warranty

Shaboom

I have Nationwide and roadside is only like $5.00 a month. Well worth it for our out of warranty Volvo.

TD8834547

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.