Lexus Extended Warranty
Thread Starter
Driver
Joined: May 2010
Posts: 110
Likes: 10
From: GA
Lexus Extended Warranty
Greetings Fellow Lexus Drivers:
I am currently trying to decide if I want to purchase an extended warranty for my 2015 GS350 F Sport. I received a postcard in the mail from my dealer about extending the warranty and gave them a call today. Here is some info about the car - my current mileage is 31,000 and I have until the end of 2019 before the manufacturers warranty expires. Do the numbers below make sense? Or should I keep shopping around? I plan on keeping these car for a VERY long time.
TYPE: Premium Care
ADDITIONAL MONTHS: 48
ADDITIONAL MILES: 48000
DEDUCTIBLE: 100 per visit
TOTAL SALE PRICE: $3,319.00
DOWN PAYMENT: $175.00
MONTHLY PAYMENT: $131.00
NUMBER OF PAYMENTS: 24
I am currently trying to decide if I want to purchase an extended warranty for my 2015 GS350 F Sport. I received a postcard in the mail from my dealer about extending the warranty and gave them a call today. Here is some info about the car - my current mileage is 31,000 and I have until the end of 2019 before the manufacturers warranty expires. Do the numbers below make sense? Or should I keep shopping around? I plan on keeping these car for a VERY long time.
TYPE: Premium Care
ADDITIONAL MONTHS: 48
ADDITIONAL MILES: 48000
DEDUCTIBLE: 100 per visit
TOTAL SALE PRICE: $3,319.00
DOWN PAYMENT: $175.00
MONTHLY PAYMENT: $131.00
NUMBER OF PAYMENTS: 24
Intermediate
Joined: Apr 2007
Posts: 370
Likes: 154
From: Ohio
Depends on how comfortable you are doing some work or how much you value peace of mind. Also how do you plan on driving the car?
If you can turn a wrench and you'll just drive the car like a normal person then I agree with er34. Save the money and use it if needed.
If you're going to drive the **** out of the car and don't want to ever worry about doing your own work and prefer to drop the car off and get it back without any worries then get the warranty.
If you can turn a wrench and you'll just drive the car like a normal person then I agree with er34. Save the money and use it if needed.
If you're going to drive the **** out of the car and don't want to ever worry about doing your own work and prefer to drop the car off and get it back without any worries then get the warranty.
I bought a 2013 CPO in fall of 2016 which had almost a year of factory + 2 additional years unlimited miles CPO warranty. I was also offered Lexus Platinum option to add an additional 5 years, covering the car to 2024, unlimited miles. The additional 5 year Platinum warranty was right around what you were quoted but was for an additional year and has no deductible. Also, the warranty I got is transferable one time if I sell the car prior to it expiring. I'd keep shopping if a warranty is important to you as you can likely find a better deal. I agree with the other posters that for what you're getting, you may be better off putting the money into a repair fund. My concern was that if any of the electronics messed up, it could eat the warranty cost pretty quickly.
Lexus Champion
Joined: Mar 2014
Posts: 2,053
Likes: 116
From: CA
My advice would be to not stress about it until around 3 or 4 months before your basic expires (time) or runs out (mileage) and then reach out to any dealer you can (even though Lexus will not sell plans over state lines) bc you can then use the prices you gather as a negotiating tool at your preferred local dealer, asking them to match the best price you rcv. Remember, the ext warranty doesn't come into play until your basic expires or runs out, so save that money or invest it in the mean time, but definitely leave plenty of time to negotiate and submit your application prior to basic expiring or running out. I'd also recommend a zero deductible, platinum plan (most coverage) as these plans can be bought for reasonable prices (better than what you were quoted so far) - you have plenty of time to gather quotes - there are several threads (example 1) (example 2) that mention quotes others have rcvd and dealers giving solid quotes (search for warranty). You can review Lexus plans and details here. Good luck.
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Lead Lap
Joined: Mar 2014
Posts: 3,830
Likes: 1,336
From: NY
I agree with other posters - my advice would be to save the money as the car is very reliable. Unless you personally require the peace of mind, then that's when I would lean toward the warranty.
Since you've owned the car from the onset and you've only driven 10k miles per year, you have the best idea about its care, its performance and if it has already started to show signs of requiring work. At your current driving/mileage rate, in 2023 when your extended warranty would potentially end if you buy it, your car would have only 80k miles...i'm sure you can make it to 80k miles without an extended warranty with that "just in case" fund that everyone else has mentioned.
What was the mileage on your '08 GS before you traded it? The drivetrain is the same in the 4GS so you can count on similar reliability.
Since you've owned the car from the onset and you've only driven 10k miles per year, you have the best idea about its care, its performance and if it has already started to show signs of requiring work. At your current driving/mileage rate, in 2023 when your extended warranty would potentially end if you buy it, your car would have only 80k miles...i'm sure you can make it to 80k miles without an extended warranty with that "just in case" fund that everyone else has mentioned.
What was the mileage on your '08 GS before you traded it? The drivetrain is the same in the 4GS so you can count on similar reliability.
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CL Community Team
Joined: Dec 2017
Posts: 2,001
Likes: 682
From: NJ
Greetings Fellow Lexus Drivers:
I am currently trying to decide if I want to purchase an extended warranty for my 2015 GS350 F Sport. I received a postcard in the mail from my dealer about extending the warranty and gave them a call today. Here is some info about the car - my current mileage is 31,000 and I have until the end of 2019 before the manufacturers warranty expires. Do the numbers below make sense? Or should I keep shopping around? I plan on keeping these car for a VERY long time.
TYPE: Premium Care
ADDITIONAL MONTHS: 48
ADDITIONAL MILES: 48000
DEDUCTIBLE: 100 per visit
TOTAL SALE PRICE: $3,319.00
DOWN PAYMENT: $175.00
MONTHLY PAYMENT: $131.00
NUMBER OF PAYMENTS: 24
I am currently trying to decide if I want to purchase an extended warranty for my 2015 GS350 F Sport. I received a postcard in the mail from my dealer about extending the warranty and gave them a call today. Here is some info about the car - my current mileage is 31,000 and I have until the end of 2019 before the manufacturers warranty expires. Do the numbers below make sense? Or should I keep shopping around? I plan on keeping these car for a VERY long time.
TYPE: Premium Care
ADDITIONAL MONTHS: 48
ADDITIONAL MILES: 48000
DEDUCTIBLE: 100 per visit
TOTAL SALE PRICE: $3,319.00
DOWN PAYMENT: $175.00
MONTHLY PAYMENT: $131.00
NUMBER OF PAYMENTS: 24
Thread Starter
Driver
Joined: May 2010
Posts: 110
Likes: 10
From: GA
Depends on how comfortable you are doing some work or how much you value peace of mind. Also how do you plan on driving the car?
If you can turn a wrench and you'll just drive the car like a normal person then I agree with er34. Save the money and use it if needed.
If you're going to drive the **** out of the car and don't want to ever worry about doing your own work and prefer to drop the car off and get it back without any worries then get the warranty.
If you can turn a wrench and you'll just drive the car like a normal person then I agree with er34. Save the money and use it if needed.
If you're going to drive the **** out of the car and don't want to ever worry about doing your own work and prefer to drop the car off and get it back without any worries then get the warranty.
Thread Starter
Driver
Joined: May 2010
Posts: 110
Likes: 10
From: GA
Thanks everyone. I will save the money over the remainder of the original warranty and collect a little interest in the process. Still gives me time to shop for a better price with no deductible.
Lexus Champion
Joined: Mar 2014
Posts: 2,053
Likes: 116
From: CA
When did you get your plan? Lexus' platinum plans are pro-rated if canceled after 60 days (new), so if you wish to cancel it, they will refund the unused portion (the remaining time and or mileage) of the plan. If within 60 days (30 days for pre-owned) of purchase Lexus will refund in full if no benefits were paid.
Rookie
Joined: May 2013
Posts: 64
Likes: 8
From: Ca
When did you get your plan? Lexus' platinum plans are pro-rated if canceled after 60 days (new), so if you wish to cancel it, they will refund the unused portion (the remaining time and or mileage) of the plan. If within 60 days (30 days for pre-owned) of purchase Lexus will refund in full if no benefits were paid.
Advanced
Joined: Jan 2012
Posts: 734
Likes: 75
From: texas
My 2014 just hit the 4 year mark. It has 34000 miles on it and I decided I'm keeping it 2-3 more years. I bought an additional 3 year/75000 warranty from Lexus. That's a total of 75000 miles, so 41000 additional miles on top of the 34000 I have now. It was $1970. That extends my same original factory warranty/ road service/ no deductible that came with the new car. I doubt that I end up being money ahead on the deal. For me though, it's just the peace of mind. My decision might not be the right choice for others........