Should I keep my Extended Warranty
04-21-14, 04:44 PM
#1
Pit Crew
Thread Starter
Should I keep my Extended Warranty
I have an extended warranty on my 08 Lexus GS 350 Its about $115 a month...i'm in debate with myself on whether or not I should keep it. Do any of you guys have one on your vehicle? Is it worth keeping??
04-21-14, 05:12 PM
#2
Just like any other type of insurance/ extended warranty, it is only worth it when something went wrong! We were offered extended warranty and Prepay Service plan but we turned them down because we dont drive the car that much to make it worthwhile.
You need to give us more information such as current mileage? How many miles do you drive a year? What is the total amount? Etc...
You need to give us more information such as current mileage? How many miles do you drive a year? What is the total amount? Etc...
04-21-14, 05:18 PM
#3
Pit Crew
Thread Starter
Just like any other type of insurance/ extended warranty, it is only worth it when something went wrong! We were offered extended warranty and Prepay Service plan but we turned them down because we dont drive the car that much to make it worthwhile.
You need to give us more information such as current mileage? How many miles do you drive a year? What is the total amount? Etc...
You need to give us more information such as current mileage? How many miles do you drive a year? What is the total amount? Etc...
04-21-14, 06:25 PM
#4
I do not believe in extended warranties on ANYTHING, if you feel like you need one, then you should get rid of the car (or other item you are not comfortable owning with the expectation of it not breaking down).
at the end of the day, it is a loosing proposition for you, that is why they sell them.
at the end of the day, it is a loosing proposition for you, that is why they sell them.
04-22-14, 05:22 AM
#7
Pit Crew
Thread Starter
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04-22-14, 05:29 AM
#8
Pit Crew
Thread Starter
04-23-14, 04:23 AM
#10
04-23-14, 11:42 AM
#11
if its LEXUS WARRANTY, yes it pay off itself just a peace of mind,
if its 3rd party, make 200% sure it is cover bumper to bumper and not a short list, and make another 100% sure that they will use genuine OEM parts not 3rd party ****.
I learned the hard way on my G35, window regulator went out, and then seat motor went out, extended warranty don't cover those -__-
if its 3rd party, make 200% sure it is cover bumper to bumper and not a short list, and make another 100% sure that they will use genuine OEM parts not 3rd party ****.
I learned the hard way on my G35, window regulator went out, and then seat motor went out, extended warranty don't cover those -__-
04-23-14, 01:58 PM
#12
Pole Position
Yeah, you should probably review the list of exclusions. My 2006 GS430 is a CPO car. So far, the warranty has paid for the replacement of all 4 rear bumper sensors (about $1,000 parts and labor) and seized rear brake calipers (about $750 parts and labor). Out of nowhere last week, my rear passenger door became very hard to open and close. I did some research, and found that it is most likely the door hinges that need to be replaced. Hinges are specifically excluded from the CPO warranty (which is too much of a coincidence, if you ask me). Anyway, assuming it's bumper to bumper, I'm thinking it might be worth keeping.
04-23-14, 09:23 PM
#14
if its LEXUS WARRANTY, yes it pay off itself just a peace of mind,
if its 3rd party, make 200% sure it is cover bumper to bumper and not a short list, and make another 100% sure that they will use genuine OEM parts not 3rd party ****.
I learned the hard way on my G35, window regulator went out, and then seat motor went out, extended warranty don't cover those -__-
if its 3rd party, make 200% sure it is cover bumper to bumper and not a short list, and make another 100% sure that they will use genuine OEM parts not 3rd party ****.
I learned the hard way on my G35, window regulator went out, and then seat motor went out, extended warranty don't cover those -__-
Don't get jipped by a 3rd party warranty with no bumper to bumper...... It has happened to TONS of people, my family members included.
The bank offers these warranties and one of my family members took the bait, come time when the transmission started acting iffy.... They said, nope nope, we don't pay for diagnosis, and we don't pay for parts & labor on it, sorry! I believe she put at minimum $1k into that warranty too.
GL!
04-24-14, 11:37 AM
#15
Pit Crew
Thread Starter
Yeah, you should probably review the list of exclusions. My 2006 GS430 is a CPO car. So far, the warranty has paid for the replacement of all 4 rear bumper sensors (about $1,000 parts and labor) and seized rear brake calipers (about $750 parts and labor). Out of nowhere last week, my rear passenger door became very hard to open and close. I did some research, and found that it is most likely the door hinges that need to be replaced. Hinges are specifically excluded from the CPO warranty (which is too much of a coincidence, if you ask me). Anyway, assuming it's bumper to bumper, I'm thinking it might be worth keeping.