DangWhat

This is an extended warranty question. I am really looking to get some good thoughts as I am paying $2,200 for this warranty and its rolled into my financing so I am paying even more!


Give you background on the car: 2005 Lexus GS 300, Was a lease, bought it about a month ago, had 39.6k miles on it.

As far as I can tell, no major wrecks, car has a few spots its been dinged in, road rash but nothing major just minor dent or scrape here and there.

No body work or engine work has been done all OEM parts still.


This is my coverage straight from the website.

Bronze Coverage
Engine: All internal lubricated parts, cylinder block and cylinder heads (when damaged by an internal moving part), intake manifold gaskets and head gaskets, intake manifold, exhaust manifold, oil pump, fan blade, water pump, fuel pump, vacuum pump, timing chain, timing gears, timing belt, turbo charger housing and all its internal parts. Diesel engine: all parts listed within Gasoline engine coverage, fuel injection pump, vacuum pump.

Transmission/Transaxle: Transmission case (when damaged by an internal moving part), all internal lubricated parts within the transmission case, torque converter, internal torque converter engagement solenoid, internal shift control solenoids, valve body, governor, transfer case (when damaged by an internal moving part), all internal lubricated parts within the transfer case.

Front/Rear Wheel Drive: Final drive housing (when damaged by an internal moving part), all internal lubricated parts within the final drive housing, axle housing (when damaged by an internal moving part), axle shafts, constant velocity joints, propeller shafts, universal joints.



Now the warranty is only good for 2 years or 24k miles which ever comes first.

Is this going to be worth it? I really am thinking none of these parts will fail in the next 2 years but I would like someones opinion who has more experience with this.


Companys website: http://www.mppcoverage.com/pre_owned..._coverage.html

alexulan

i wouldn't do it.

I think most power train warranties should run around $1200 for 10 years or 100K.

humanoid

iTrader: (1)

Agreed, sounds like you should be paying about half of that for a used car extended warranty.

jayr0422

iTrader: (2)

I say don't do it. Never really hear much about any of those parts failing especially with the low miles you have. I would put a little aside each month or however you want into a savings account for emergencies anyway cuz anything can happen. But most likely you won't need that and it'll be a big waste. These Lexus GS cars are very reliable.

Infamous 1

iTrader: (20)

I wouldn't do it. Even if you wanted to, that is way too much. There a so many DIYs on here that i am sure there is a fix for just about everything.

raytseng

save the $2200 and apply it to your maintenance(using the Lexus manual schedule and chart, not overservice dealer's recommendations that mainly boost profit)

DangWhat

Alright well sounds like its not really even a choice, going to call monday and cancel it

Thanks guys.

Spyder78

iTrader: (7)

BTW I have an Aftermarket warranty on my car and for 4 years 100000 miles it cost me a little over 2000 for their best coverage. So price is an issue also as they are charging you a lot more than what I am paying. Plus my car is a 2000 GS4.

DangWhat

hmmmm interesting.....


I must be getting the shaft then :O

UDel

Save your money, it is totally not worth it. The most common and expensive parts that fail on these cars are the door lock actuators which it does not look your warranty even covers. Lower ball joints are another problem area but they generally have issues and need replacing with with 80K+ miles so they too would be uncovered under your warranty and are not too expensive to replace anyway. I would skip on those aftermarket warranties especially if they cost over $500 because none will generally cover the main problem area with these cars which is door lock actuators, ball joint replacement is done further down the line and at around $300 is not that expensive, and all the other common issues like interior rattles/squeaks, low/rough idle, moisture in headlights, suspension rattles/squeaks will not be covered either so it is a pretty big waste of money. If it was a BMW, Mercedes, Audi, or Porsche, then yes I would highly recommend getting as much warranty as possible as it would probably pay off and then some but the issues you will most likely run into with the GS will not be covered anyways and it will be a big waste of money.